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    Pakistan’s debt, liabilities cross Rs50tr

    Pakistan’s debt, liabilities cross Rs50tr Burden increased by Rs20.7 trillion in past 39 months ISLAMABAD: For the first time ever, Pakistan’s total debt and liabilities have crossed Rs50.5 trillion, an addition of Rs20.7 trillion under the current government alone, revealed the official...
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    IMF rejects borrowing request

    ISLAMABAD: The International Monetary Fund (IMF) has rejected Pakistan’s request to keep a door open for borrowing from the central bank and also did not agree on any meaningful accountability of the State Bank of Pakistan (SBP). The central bank’s profit would also not be transferred 100% to...
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    Islamabad swallows bitter IMF pills

    Pakistan has agreed to take Rs800 billion measures through a combination of cut in expenditures and slapping about Rs500 billion in taxes, including Rs20 per litre fuel tax, to revive the stalled $6 billion International Monetary Fund (IMF) programme. “The tax collection target of the Federal...
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    Rupee dives to record low in intra-day trading Falls to Rs173.2 against dollar in inter-bank market

    Rupee dives to record low in intra-day trading Falls to Rs173.2 against dollar in inter-bank market Pakistani currency plummeted by a staggering Rs2.02 (or 1.2%) against the US dollar to a record low of Rs173.2 during intra-day trading in the inter-bank market on Monday. "The uncertainty...
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    Game changing bombast

    NOW here is something amusing. Remember that huge project that the minister for maritime affairs, Ali Zaidi, announced towards the end of September? It was called the Karachi Coastal Comprehensive Development Zone (KCCDZ) and would ‘revamp’ close to 1,581 acres of land in Karachi that belongs to...
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    Banned Outfit ASWJ’s Chief Boasts About Persecuting Pakistan’s Shia Community

    Ludhianvi was lamenting that his organization stood alone in its movement against “enemies of Islam,” but remembered ASWJ’s efforts with pride Ludhianvi was lamenting that his organization stood alone in its movement against “enemies of Islam,” but remembered ASWJ’s efforts with pride...
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    Pakistan President Arif Alvi, Defence Minister Pervez Khattak test positive for coronavirus

    President of Pakistan Dr Arif Alvi and Defence Minister Pervez Khattak have tested positive for coronavirus, almost 10 days after Prime Minister Imran Khan tested COVID-19 positive. Taking to Twitter, the president announced that his coronavirus test came positive and said a prayer for all...
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    Footprints: Farmers hit by Ravi project dig in heels

    THESE green fields and lychee orchards, divided by a dusty road, in a village along the Ravi near Sheikhupura will soon give way to a jungle of concrete. CHAUDHRY Sajjad Warraich was happy with the produce he was getting from his farmland and orchards, which lay about five kilometres from the...
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    Janikhel protesters begin march towards Islamabad with bodies of 4 teenage boys

    Protesters from the Janikhel area of Bannu are seen during their march while policemen are also present. — Photo by Sirajuddin Protesters from the Janikhel area of Bannu are seen during their march. — Photo by Sirajuddin Protesters from the Janikhel area of Bannu are seen during their march...
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    Industrialists reject power tariff hike, cut in gas supply

    KARACHI: Industrialists have expressed concern over the hike in energy tariff and discontinuation of gas supply to the factories generating their own electricity. In a statement on Friday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Nasser Hyatt Maggo and other...
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    The emerging inflationary spiral

    The government introduced a series of measures last week that apparently set the stage for lasting inflationary pressures. Measured by the Consumer Price Index (CPI), the rate of inflation has already risen substantially to 8.7 per cent in February. Important policy decisions included the...
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    Gas firms seek up to 220pc hike in prices

    ISLAMABAD: The country’s two gas utilities — SNGPL and SSGCL — have demanded up to 220 per cent increase in the prescribed prices of gas with effect from July 1 to meet estimated revenue requirement (ERR) during the fiscal year 2021-22. In formal petitions filed with the Oil and Gas Regulatory...
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    Pakistan’s reliance on foreign commercial loans increasing

    Pakistan’s reliance on foreign commercial loans has been increasing at rapid pace as the country obtained $3.110 billion through this head out of a total of $7.2 billion external loan inflows during the first eight months (July-Feb) period of the current fiscal year. The foreign commercial...
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    FIA directed to proceed against Babar Azam

    LAHORE: An additional district and sessions judge directed the Federal Investigation Agency (FIA) on Thursday to register an FIR against Pakistan cricket team captain Babar Azam and two women for allegedly blackmailing, posing threats to and harassing Hamiza Mukhtar. Judge Hamid Hussain, in his...
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    Pakistan’s imports soar, exports drop in February

    KARACHI: Pakistan’s imports including major kitchen items like cooking oil and sugar have continued to increase ahead the fasting month of Ramazan, while exports led by textiles sector have dropped in February. The overall 11% growth in imports to $4.62 billion and a drop of 3% in exports to...
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    Foreign direct investment slides 20pc in February

    Pakistan witnessed foreign direct investment (FDI) of $155 million during the month of February 2021, around 20 per cent lower in comparison to net inflows of $192.7 million received in January 2021. According to data compiled by the State Bank of Pakistan, FDI dropped 30pc year-on-year to...
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    Orange Train’s white-knuckle ride

    AN Orange Line Train ride arouses mixed emotions. The first thing that strikes the traveller is certainly technological leapfrog that the train represents in the otherwise low-tech environment. Comparable to any other service in the West, it has everything a modern commuting service needs...
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    Power tariff may go up to comply with IMF plan

    ISLAMABAD: The government may have to increase electricity tariff for consumers two times before December, in addition to making monthly fuel price adjustments and diverting substantial funds from taxpayers’ money to the power sector, to keep the International Monetary Fund programme going...
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    Serious water shortage imminent as dry season continues

    LAHORE: Water levels in Tarbela and Mangla dams have continued to decline due to no snow melting and almost no rainfall in the catchment areas in the ongoing and previous months. There may be 30 to 40 per cent of water shortage in the country if the situation persists till April. “The...
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    Number of active taxpayers falls 30%

    Number of active taxpayers falls 30% Nearly 2.2m return filers were only one-third of those with valid National Tax Numbers Shahbaz Rana March 02, 2021 ATL 2021 has replaced ATL 2020 that carried names of 3.12 million individuals and companies. A comparison of both lists showed that over...

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