KARACHI: The unprecedented 10.6 per cent rupee devaluation in a single day on Thursday would not only trigger a new wave of price hikes but the expensive loans after the interest rate hike would hit industrial activities, warned trade and industry leaders on Thursday. They said a weak rupee would increase the landed cost of […]
Continue ReadingKARACHI: The Pakistani currency maintained a freefall for a second consecutive day, plunging by a fresh 4.78% (or Rs12.87) to a new all-time low of Rs268.30 against the US dollar in the interbank market at around 10:30 am on Friday. Yesterday, the currency recorded the single largest slump in a day of 9.61% (or Rs24.54) […]
Continue ReadingKHYBER: The government is contemplating the resumption of the Pakistan-Afghanistan Dosti bus service to increase people-to-people contacts between the two countries, said an official. Deputy commissioner of Khyber tribal district Shah Fahad told to media that the local administration along with local security officials were in contact with the local Khugakhel tribal elders for the […]
Continue ReadingISLAMABAD: A district and sessions court on Friday sent Pakistan Tehreek-e-Insaf (PTI) leader Fawad Chaudry to Adiala Jail on a 14-day judicial remand in a case over “inciting violence against a constitutional institution”. The PTI leader was arrested from Lahore on Wednesday on charges of sedition for “threatening” the chief election commissioner (CEC) and members […]
Continue ReadingKARACHI: The information technology industry of Pakistan appears frustrated as it needs state assistance to help the struggling IT companies to grow their exports. It regrets that the two key government institutions, the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR), have not yet come up with supportive policies for the […]
Continue ReadingKARACHI: There is uncertainty at the moment along with the probability of Pakistan going into default – the odds of which have spiked since the country drifted away from negotiations with the International Monetary Fund (IMF), said former finance minister Miftah Ismail. “The risk of default has reduced after reinstating the market-based rupee-dollar exchange rate […]
Continue ReadingRAWALPINDI:Rawalpindi district police on the directives of Senior Superintendent of Police, Operations Rawalpindi Waseem Riaz Khan conducted raids in different areas and netted seven accused for possessing illegal weapons. According to a police spokesman, Westridge, Bani, Saddar Wah, Dhamial, and Rawat police rounded up seven namely Zohaib Imtiaz, Muhammad Ali, Abdullah, Ahsan, Shehryar, Shabbir and […]
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