This is the first air freight route linking the province with a Belt and Road Initiative (BRI) country. | Photo Credit: Emmanual Yogini A new air cargo route has been launched between Pakistan and China to further enhance trade ties between the two all-weather allies, ahead of Prime Minister Shehbaz Sharif’s visit to Beijing next … Read more
Pakistan Prime Minister Shehbaz Sharif expressed annoyance over the use of red carpets during the visits of federal Ministers and senior authorities at government functions. File. | Photo Credit: HANDOUT Pakistan Prime Minister Shehbaz Sharif has banned the use of red carpets at government events, reserving them exclusively for diplomatic receptions, as part of austerity measures … Read more
Krishnamurthy Subramanian. | Photo Credit: The Hindu Taking a tough stance, India has batted for “stringent monitoring” of any emergency funds provided by the International Monetary Fund (IMF) to its financially beleaguered neighbour Pakistan, stressing that such funds must not be redeployed towards defence bills or repayment of loans from other countries. India’s position was … Read more
LAHORE: Pakistan’s former prime minister Shehbaz Sharif on Tuesday reaffirmed that Pakistan Muslim League-Nawaz supremo Nawaz Sharif will become the prime minister for a record fourth time. “I had said that Nawaz Sharif would become prime minister for the fourth time. And I maintain today that he is going to be the PM for the … Read more
Pakistan’s Prime Minister Shehbaz Sharif, fourth right, poses for a group photo with lawmakers of the National Assembly at the end of the last session of the current parliament, in Islamabad, Pakistan, on August 9, 2023. | Photo Credit: AP Pakistan Prime Minister Shehbaz Sharif said he would advise the President to dissolve Parliament late … Read more
Pakistan introduced a number of changes to its fiscal 2024 budget on Saturday, said Finance Minister Ishaq Dar, in a last-ditch effort to clinch a stalled rescue package with the International Monetary Fund. “Pakistan and IMF had detailed negotiations as a last effort to complete the pending review,” he told parliament. For the fiscal year … Read more
Pakistan Prime Minister Shehbaz Sharif meets with managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in Paris, France June 22, 2023. Credit: Press Information Department (PID)/Handout via REUTERS | Photo Credit: VIA REUTERS Pakistan Prime Minister Shehbaz Sharif met IMF Managing Director Kristalina Georgieva on Thursday as the cash-strapped country made a last-ditch … Read more
Pakistan is currently at the beginning of the worst economic crisis since the country’s formation in 1947, Geo-politik reported. According to Geo-politik, Pakistan has taken fourteen loans from the IMF thus far, but ironically none of them has ever been completed. This, therefore, raises serious questions about the capacity and capability of the Pakistan state … Read more
The State Bank of Pakistan’s foreign exchange reserves dipped $11 billion to $5.6 billion from $16.6 billion in January 2022. | Photo Credit: Reuters Pakistan central bank’s foreign exchange reserves plummeted to an eight-year low of over $5.5 billion amidst fear of default, according to a media report on Friday. The forex reserves have dwindled … Read more
Representational image only. | Photo Credit: Twitter/@StateBank_Pak Pakistan’s central bank has criticised the cash-strapped Shehbaz Sharif government for prioritising growth at the expense of price and financial stability. The State Bank of Pakistan (SBP) in its annual report issued recently said international experience has repeatedly shown the countries that prioritise growth at the expense of … Read more