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Bridging The Gap
Interior ministry denies placing Zardari, Faryal on no-fly list Interior ministry denies placing Zardari, Faryal on no-fly list
The interior ministry on Monday denied placing Pakistan Peoples Party (PPP) co-chairman Asif Ali Zardari and his sister Faryal Talpur on a no-fly list. Rejecting reports pertaining to the siblings being placed on a “stop list”, Interior Minister Azam Khan denied the existence of any such register. “There is no stop list,” he said following the conclusion of a standing committee on interior affa...
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Nawaz gets 10 years jail term, Maryam seven in Avenfield apartments case Nawaz gets 10 years jail term, Maryam seven in Avenfield apartments case
In a verdict which will echo across the political landscape of Pakistan for decades, the accountability court hearing the Avenfield reference sentenced deposed prime minister Nawaz Sharif to 10-years imprisonment and daughter Maryam to seven years. The former prime minister’s son-in-law, Safdar, was also sentenced to a year in prison. Nawaz was further fined eight million pound sterling and Mar...
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Axact CEO Shoaib Shaikh, 22 others get 7-year jail term in fake degrees case Axact CEO Shoaib Shaikh, 22 others get 7-year jail term in fake degrees case
A district and session court in Islamabad has sentenced Axact’s Chief Executive Officer (CEO) Shoaib Shaikh and 22 others to seven years in prison in fake degree case. Shaikh and the aforementioned others will have to serve three years each under Sections 419 and 420 of Pakistan Penal Code. They were also imposed a fine of Rs0.3 million each. The accused were also sentenced to seven years each ...
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Pakistan’s external financing risks piling on: Fitch Ratings Pakistan’s external financing risks piling on: Fitch Ratings
Pakistan’s declining foreign exchange reserves and widening current account deficit are adding to the country’s external financing risks, said Fitch Ratings in a commentary released on Tuesday, reinforcing views on the fragility of the over $300-billion economy. Fitch is one of the three big credit rating agencies with the other two being Moody’s and Standard & Poor’s. Investors use these ratin...
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Eight killed as rain lashes Lahore Eight killed as rain lashes Lahore
At least eight people were killed in rain-related incidents across Lahore. Six people died after receiving electric shocks. Another two were killed after a building collapsed. Six deceased persons were shifted to hospitals by Rescue 1122 and two by police. “Operations are being mounted across Lahore,” a Rescue 1122 spokesperson said. The Punjab’s premier city has received 170 millimeters ...
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PPP holds caretaker govt responsible for failing to protect Bilawal in Lyari PPP holds caretaker govt responsible for failing to protect Bilawal in Lyari
A day after Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari’s convoy had to be routed after being pelted with stones in the metropolis’ Lyari locality, the PPP criticised the interim government for failing to protect electoral candidates and maintaining order in the run-up to elections. The spokesperson for Bilawal, Senator Mustafa Nawaz Khokhar, said the “onus of protecting the ca...
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FBR includes offshore income in scope of tax amnesty scheme FBR includes offshore income in scope of tax amnesty scheme
The Federal Board of Revenue (FBR) announced to include offshore income under the scope of the tax amnesty scheme, changing the goalpost just two days before close of the window, a move that is likely to create more confusion among applicants. The tax machinery continued giving explanatory notes on the offshore and domestic assets amnesty schemes, due to expire coming Saturday. The changes made...
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Tribunal disqualifies ex-PM from contesting election for 'not being Sadiq and Ameen' Tribunal disqualifies ex-PM from contesting election for 'not being Sadiq and Ameen'
ISLAMABAD: In an unprecedented decision, an election tribunal in Rawalpindi on Wednesday disqualified former prime minister Shahid Khaqan Abbasi from contesting the upcoming elections declaring that he is not Sadiq (truthful) and Ameen (trustworthy). A single-judge bench, in its written order, noted that Abbasi was “guilty of concealment of facts and withholding of complete information from h...
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Pakistan’s foreign borrowing surges to $10b in 11 months Pakistan’s foreign borrowing surges to $10b in 11 months
Pakistan has received nearly $10 billion in foreign loans in the past 11 months, and almost three-fourths have been utilised for budgetary support and meeting external financing requirements, underscoring that the amount cannot be returned without resorting to fresh borrowing. The total loan disbursement from July through May of fiscal year 2017-18 stood at $9.98 billion, reported the Economic ...
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CPPA proposes increase in electricity tariff by Rs1.32 per unit CPPA proposes increase in electricity tariff by Rs1.32 per unit
The Central Power Purchasing Agency (CPPA-G) has recommended the power regulatory authority to increase electricity tariff by Rs1.32 per unit for consumers, aimed at recovering Rs78.66 billion from next month. The state-owned power purchasing agency made the recommendation to adjust fuel charges in the tariff for the power produced and sold to the consumers nationwide, except for K-Electric con...
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