KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves fell below $7 billion for the first time in the current fiscal year, posing challenges for the government to stabilise the exchange rate and meet debt servicing obligations. The SBP on Thursday reported a $136 million decline in reserves to $6.904bn due to debt repayments. This outflow of dollars brought …
ISLAMABAD: The Election Commission of Pakistan (ECP) on Friday extended its deadline for filing nomination papers for the February 8 general elections by two days but asserted that the extension would not affect the poll date. With little than over a month left for polls, the electoral watchdog has entered election mode. Last week, the commission issued the election schedule, putting …
ISLAMABAD: The Supreme Court on Friday instructed the Election Commission of Pakistan (ECP) to remove the PTI’s reservations regarding a lack of a level playing field in the run up to the February 8 general election. The top court directed the PTI to submit its complaint with the ECP at 3pm today and ordered Attorney General of Pakistan (AGP) Mansoor …
ISLAMABAD: PML-N leader Ishaq Dar on Thursday wrote a letter to the Election Commission of Pakistan (ECP) seeking a two-day extension in the deadline to submit nomination papers for the upcoming general elections. With little than over a month left for polls, the electoral watchdog has entered election mode. Last week, the commission issued the election schedule, putting an end …
ISLAMABAD: The Islamabad High Court (IHC) on Thursday dismissed ex-premier Imran Khan’s petition seeking the suspension of the trial court verdict in the Toshakhana case. On August 5, a trial court in Islamabad had found the PTI chief guilty of “corrupt practices” in a case pertaining to concealing details of state gifts and sentenced him to three years in prison. Shortly after, …
ISLAMABAD: The World Bank on Wednesday announced that its board of directors had approved the long-awaited $350 million loan ‘2nd Resilient Institutions for Sustainable Economy (RISE-II) Operation’ to Pakistan to support key macroeconomic reforms in energy, taxation and business environment. The financing “aims to strengthen fiscal management and promote competitiveness for sustained and inclusive economic growth”, the Washington-based multilateral lender …
ISLAMABAD: Days after the announcement of schedule for upcoming general elections, the Election Commission of Pakistan (ECP), in yet another controversial move, enlisted a new faction of PTI, headed by former defence minister Pervez Khattak, allowing the change of name of a political party that does not exist. The ECP “has been pleased to allow to change the name of the …
ISLAMABAD: As a long march led by Baloch women against enforced disappearances and extra-judicial killings, reached the outskirts of the federal capital on Wednesday, Islamabad police blocked entry points of the city along with major arteries to prevent the protesters from reaching the National Press Club. Initially, police blocked Jinnah Avenue and other routes leading to the press club. Later on, …
WASHINGTON: In a two-hour engagement with US scholars and policymakers on Tuesday, Chief of the Army Staff (COAS) Gen Syed Asim Munir highlighted Pakistan’s desire to develop as a hub of economic connectivity without getting involved in bloc politics and the US-China rivalry. “Pakistan is a country of consequence both from geopolitical and geoeconomic perspectives and wishes to develop itself …
ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday approved an additional across-the-board charge of Rs1.15 per unit for electricity consumers throughout the country, including K-Electric, and also concluded the process of imposing another Rs1.72 per unit on K-E consumers for the next three months — January to March 2024. Effectively, K-Electric consumers would have to pay a cumulative …