The State Bank of Pakistan (SBP) Sunday clarified that the dollar cap — imposed to stabilise therupee’s rate against the greenback — did not result in a whopping loss of $3 billion to the national exchequer. To end the dollar crunch in the market, meet the International Monetary Fund’s (IMF) conditions, and eliminate black currency markets, the government removed …
ISLAMABAD, Jan 29 (EW): The federal government has jacked up the prices of petrol by Rs35 per litre in wake of the devaluation of the rupee against the dollar. Finance Minister Ishaq Dar announced the increase in a televised address, announcing that the prices of kerosene oil and light diesel oil have been increased by Rs18. After the recent …
The Election Commission of Pakistan (ECP) on Friday announced by-elections on March 16 for 33 National Assembly (NA) seats. The seats were vacated after NA Speaker Raja Pervez Ashraf swiftly moved to accepted the resignations of PTI lawmakers and AML chief Sheikh Rashid, pending since April 2022, in an apparent bid to scuttle the opposition’s purported plan to bring …
KARACHI, Jan 27 (EW): Toxic gases emitted by some illegal factories operating in the Muachh Goth area of Keamari District could be the prime reason behind the alarming and mysterious deaths of several children, teenagers and adults during the last two weeks, health authorities and investigators claimed on Thursday. The Sindh Health Department’s initial report pins the blame on …
Prime Minister Shehbaz Sharif said on Friday that he fully expects an agreement with the International Monetary Fund (IMF) this month, after which other multilateral lenders would also support the country to help mitigate its economic crisis. “I fully expect that an agreement with the IMF will be signed this month and we will get out of these difficulties. …
Wahab Riaz, the incredible Pakistani cricketer, has been named as a caretaker sports minister of Punjab on Thursday. Governor Baligh Ur Rehman administered the oath ceremony to the newly-appointed cabinet members held at the Governor’s House in Lahore. Out of the 11 cabinet members, eight ministers — Bilal Afzal, SM Tanveer, Dr Javed Akram, Ibrahim Murad, Dr Jamal Nasir, …
The Pakistani rupee kept ‘pedal to the metal’ losing over Rs12 value against the US dollar as forex companies removed a cap on the exchange rate to win much-needed loans from the International Monetary Fund (IMF). The local unit was trading at Rs268.30 compared to Thursday’s close of Rs255.43 in the interbank market, data released by the Exchange …
An Islamabad district and sessions court on Friday reserved its verdict on the Election Commission of Pakistan’s plea to extend PTI leader Fawad Chaudhry’s remand. The court on Wednesday night had granted police an initial two-day remand of Fawad, hours after he was arrested for “inciting violence against a constitutional institution”. The former information minister was taken into custody …
SAN FRANCISCO, Jan 27 (EW): Meta Platforms Inc said on Wednesday it will reinstate former US president Donald Trump’s Facebook and Instagram accounts in the coming weeks, following a two-year suspension after the deadly Capitol Hill riot on Jan 6, 2021. The restoration of his accounts could provide a boost to Trump, who announced in November he will make another …
JENIN, Jan 26 (EW): An Israeli raid on the occupied West Bank’s Jenin refugee camp Thursday martyred nine Palestinians including an elderly woman, Palestinian officials said, also accusing the forces of using tear gas inside a hospital children’s ward. The death toll rose to “nine martyrs including an elderly woman,” the health ministry said, with multiple wounded. In a …
