ISLAMABAD, Feb 15 (EW): An anti-terrorism court (ATC) on Wednesday cancelled PTI Chairman Imran Khan’s bail over non-appearance in a case pertaining to protest outside the office of the Election Commission of Pakistan (ECP). ATC Judge Jawad Abbas issued the order after the PTI chief defied a court order to attend the hearing. Earlier in the day, the court …
MUMBAI/ISLAMABAD, Feb 15 (Reuters): Inflation in Pakistan could average 33% in the first half of 2023 before trending lower, and a bailout from the International Monetary Fund alone is unlikely to put the economy back on track, a senior economist with Moody’s Analytics told Reuters. “Our view is that an IMF bailout alone isn’t going to be enough to …
ISLAMABAD, Feb 15 (EW): President Dr Arif Alvi has advised the government to take fiscal measures of Rs170 billion through additional taxes as agreed with the International Monetary Fund (IMF) by introducing a bill in the Parliament instead of issuing an Ordinance. According to the Finance Ministry, Finance Minister Ishaq Dar on Tuesday met with the president and apprised …
LAHORE, Feb 15 (EW): Indus Motor Company (IMC) continued to give price shocks to customers as it announced the third price hike of 2023. The assembler of Toyota-brand vehicles in South Asian country notified new prices of all its models. The auto giant justified surge by citing economic uncertainties and the extremely volatile situation of local currency. The letter …
ISLAMABAD, Feb 15 (EW): The federal government is mulling over another sharp hike in petroleum products as the cash-strapped country is seeking to unlock a vital bailout from the International Monetary Fund (IMF). The sharp increase in fuel prices is on the cards as the government is taking desperate measures to meet conditions tabled by the global lender as …
ISLAMABAD, Feb 15 (EW): The federal government has convened a session of the National Assembly today after President Arif Alvi refused to approve the ordinance regarding the imposition of new taxes. A meeting of the federal cabinet was presided over by Prime Minister Shehbaz Sharif in which the country’s economic and political situation came under discussion. The meeting participants also …
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming years, Energy Minister Khurram Dastgir Khan told Reuters on Monday, as it seeks to ease a crippling foreign-exchange crisis. A shortage of natural gas, which accounts for over a third of the country’s power output, plunged large areas …
WASHINGTON, Feb 14 (EW): US State Department Counselor Derek Chollet will lead a delegation to Pakistan this week as Washington and Islamabad seek to repair ties strained under former prime minister Imran Khan. The US delegation will visit Bangladesh and Pakistan from February 14-18 to meet with senior government officials, civil society members and business leaders, the State Department …
At least three people were killed and five injured after a gunman opened fire at Michigan State University on Monday night, as law enforcement swarmed the main campus in East Lansing searching for a lone suspect, police said. Few official details about the gun violence were immediately available, but Chris Rozman, interim deputy chief of the university police, said …
WELLINGTON, Feb 14 (EW): New Zealand declared a national state of emergency for only the third time in its history on Tuesday as Cyclone Gabrielle caused widespread flooding, landslides and huge ocean swells, forcing evacuations and stranding people on roof tops. “It has been a big night for New Zealanders across the country, but particularly in the upper North …
