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Bridging The Gap
Current account deficit increases and so do Pakistan’s worries Current account deficit increases and so do Pakistan’s worries
Pakistan’s current account deficit continued to expand, adding to the worries of economic managers as the gap widened 50.6% year-on-year to $12.03 billion in the nine months of the current fiscal year. The State Bank of Pakistan (SBP) reported that the deficit now stands at over $12 billion during July-March, just shy of last-year’s 12-month figure of $12.62 billion. The nine-month deficit for ...
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Pakistan to launch dollar-based savings certificates for overseas residents Pakistan to launch dollar-based savings certificates for overseas residents
The government is all set to launch for the first time dollar-based savings certificates for overseas Pakistanis at a time when the country’s foreign exchange reserves are dwindling fast. “Non-residents are expected to invest $500 million to $1 billion in savings certificates over the next one year,” Central Directorate of National Savings (CDNS) Director General Zafar Masud told media on the s...
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Diamer-Bhasha dam gets go-ahead at last Diamer-Bhasha dam gets go-ahead at last
Pakistan on Tuesday gave a final go-ahead to the construction of Diamer-Bhasha dam at an estimated cost of Rs474 billion aimed at increasing the country’s depleting water storage capacity. Headed by Prime Minister Shahid Khaqan Abbasi, the Executive Committee of the National Economic Council (Ecnec) approved five mega projects at the total cost of Rs504 billion. The Central Development Worki...
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Pakistan’s National Development portfolio faces cut of Rs350b Pakistan’s National Development portfolio faces cut of Rs350b
ISLAMABAD: Pakistan’s National Development portfolio for the new fiscal year faces an allocation cut of Rs350 billion or nearly 17% due to shrinking fiscal space and approval of a new armed forces development plan. The Annual Plan Coordination Committee (APCC) recommended on Monday a Rs1.763-trillion National Development Budget for fiscal year 2018-19 to the National Economic Council, as agai...
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Article 62: Disqualification is for life, SC rules in historic verdict Article 62: Disqualification is for life, SC rules in historic verdict
ISLAMABAD: In a historic verdict set to alter the nation’s political landscape, the Supreme Court (SC) on Friday ruled that disqualification under Article 62(1)(f) of the Constitution was for life. “A person shall not be qualified to be elected or chosen as a member of Majlis-e-Shoora (Parliament) unless-…he is sagacious, righteous and non-profligate, honest and ameen, there being no declarat...
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Army chief warns against anti-state agenda in garb of protests in K-P, FATA Army chief warns against anti-state agenda in garb of protests in K-P, FATA
Chief of the Army Staff (COAS) Gen Qamar on Thursday cautioned against anti-state agenda in the garb of protests in Khyber-Pakhtunkhwa (K-P) and Federally Administered Tribal Areas (Fata). He made these remarks while meeting notables of Khyber-Pakhtunkhwa (K-P) including senators, parliamentarians and academia in Peshawar. “We’ve passed through a turbulent time in the war on terror as a nati...
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Three women among five civilians injured in Indian firing along LoC Three women among five civilians injured in Indian firing along LoC
At least five civilians including three women were injured when the Indian security forces resorted to unprovoked firing along the Line of Control (LoC) on Wednesday. “Indian Army initiated unprovoked fire along LoC in Khuiratta Sector targeting innocent civilians. Five citizens including three women got injured,” said a statement issued by the Inter-Services Public Relations (ISPR). Pakista...
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PM Abbasi terms Pak-China friendship 'bedrock of strategic regional stability' PM Abbasi terms Pak-China friendship 'bedrock of strategic regional stability'
Dubbing Islamabad and Beijing as ‘iron brothers’, Prime Minister Shahid Khaqan Abbasi noted that Pak-China friendship is a bedrock of strategic stability in the region. Addressing attendees at the Boao Forum on Tuesday at Hainan Island, the prime minister stated that it was “but natural for Pakistan to take the lead in partnering with China to usher a new era of peace and prosperity through enh...
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PM Abbasi to visit Kabul on Friday PM Abbasi to visit Kabul on Friday
Prime Minister Shahid Khaqan Abbasi will make a daylong visit to neighbouring Afghanistan on Friday, reported Radio Pakistan. The visit to Kabul comes at the invitation of Afghan President Ashraf Ghani, whose latest initiative, unveiled on the first day of the international conference on peace, envisaged unconditional talks with the Afghan Taliban. Pakistan has thrown its weight behind the f...
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NAB records statement in corruption inquiry against Musharraf NAB records statement in corruption inquiry against Musharraf
The National Accountability Bureau (NAB) on Tuesday successfully recorded the statement of applicant Lt Col Inaam Rahim in the corruption inquiry initiated against former president Pervez Musharraf. NAB had summoned Rahim on Wednesday to record his statement. Speaking to The Express Tribune, Rahim confirmed that he went to the NAB headquarters and recorded his statement. A copy of the applicati...
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