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Bridging The Gap
Pakistan’s external debt soars to record $91.8b Pakistan’s external debt soars to record $91.8b
Pakistan’s external debt and liabilities have soared to a record $91.8 billion, showing an increase of over 50% or nearly $31 billion in the past four years and nine months, the State Bank of Pakistan (SBP) has reported. The external debt and liabilities of $91.8 billion as of March-end suggest that the figure may touch $100 billion very soon as the country faces grave challenges in meeting gro...
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US diplomat involved in Islamabad accident departed post 'settlement' US diplomat involved in Islamabad accident departed post 'settlement'
Authorities permitted American diplomat Colonel Joseph Emanuel to leave Pakistan on Monday after taking relatives of deceased motorcyclist Ateeq Baig into confidence. The kin of the deceased reportedly reached an ‘understanding’ with US representatives before Hall’s departure. Baig’s father told The Express Tribune he had been informed before Hall left the country. “These matters are for the go...
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Interview on Mumbai attacks: Nawaz faces volley of criticism from opposition Interview on Mumbai attacks: Nawaz faces volley of criticism from opposition
LAHORE: Members of the opposition parties in Punjab expressed their anger after former prime minister Nawaz Sharif’s interview on Mumbai attacks in 2008. Pakistan Muslim League-Quaid (PML-Q) Senior Leader Chaudhry Parvez Elahi expressed anger over Nawaz’s interview. “Nawaz has once again committed treason against Pakistan in order to shroud his corruption,” he expressed. Speaking to media ...
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Pakistan’s trade deficit widens 14.3% to $29.8 billion Pakistan’s trade deficit widens 14.3% to $29.8 billion
Pakistan’s trade deficit is now near $30 billion in just ten months, which is higher than even revised estimates despite solid growth in exports for the second month in a row. Pakistan exported goods worth $2.13 billion in April, a year-on-year increase of 18.7%, according to the Ministry of Commerce. The growth in exports came on the back of tax incentives and rupee devaluation. “Pakistan i...
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CM Shehbaz rejects NAB money laundering allegations against Nawaz CM Shehbaz rejects NAB money laundering allegations against Nawaz
Punjab Chief Minister Shehbaz Sharif rejected money laundering allegations levelled by the National Accountability Bureau (NAB) against his brother Nawaz Sharif on Wednesday. Speaking to the media in Lahore, CM Shehbaz quipped that the anti-graft watchdog’s sun was shining brightly in Punjab. He pointed out that the money laundering claims had been dismissed by the World Bank already. The Pa...
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Plan to exchange trade data with China misses second deadline Plan to exchange trade data with China misses second deadline
Pakistan’s decision to postpone the signing of a revised Free Trade Agreement (FTA) has now hit its plans to digitally exchange trade data to capture the real value of imports from the neighbouring country, as China has missed the second deadline to make the new system operational. Pakistani authorities believe that by delaying the operationalisation of the Electronic Data Exchange, Beijing is ...
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Check-posts reduced in South Waziristan as peace returns to region Check-posts reduced in South Waziristan as peace returns to region
PESHAWAR: The Pakistan Army stated on Friday that the number of check-posts in South Waziristan have been reduced from 32 to five after the restoration of peace in the volatile region. IG FC South Maj Gen Abid Latif Khan confirmed the news and said it was made possible after return of normalcy to the area. He added that almost 30km of the Pak-Afghan border has also been fenced to check unauth...
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Hazaras calls off strike as COAS assures security Hazaras calls off strike as COAS assures security
QUETTA/ ISLAMABAD: The protesting Hazara community in Quetta called off its sit-ins and protest in the early hours of Wednesday after Army Chief General Qamar Javed Bajwa met the community elders in Southern Command and assured them security. General Bajwa arrived in Quetta late on Tuesday night and called tribal elders and protesting women in Southern Command to apprise him of their grievanc...
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New Islamabad airport inaugurated after years of delay New Islamabad airport inaugurated after years of delay
Prime Minister Shahid Khaqan Abbasi officially inaugurated the new Islamabad International Airport (IIA) on Tuesday, the first greenfield airport of Pakistan destined to emerge as one of Asia’s major aviation hubs after its operationalisation. A Pakistan International Airlines (PIA) flight, PK-300, landed at the airport as part of its inauguration ceremony. Speaking at the opening ceremony, ...
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Centre uses petrol levy to cut share of provinces Centre uses petrol levy to cut share of provinces
In a bid to contain transfer of fiscal resources to provinces without undermining the Constitution, the Centre has decided to use petroleum levy as a tool to earn Rs480 billion by imposing an inflationary Rs30 per litre levy on all petroleum products. By increasing the rate of the levy, the government will smartly generate Rs480 billion in extra revenues, besides addressing the issue of sharing...
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