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Finance: The deepening forex crisis

Finance: The deepening forex crisis

Pakistan remained in the grip of the foreign exchange crisis in 2022. Now, at the beginning of 2023, the situation has deepened further. On January 6, forex reserves held by the State Bank of Pakistan (SBP) plunged to $4.343 billion, enough to cover just three weeks of imports, after the country repaid $1bn commercial loans of two...

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Ex-SCBA president Latif Afridi shot dead in Peshawar High Court

Ex-SCBA president Latif Afridi shot dead in Peshawar High Court

PESHAWAR: Former Supreme Court Bar Association (SCBA) president Latif Afridi was shot dead inside the Peshawar High Court (PHC) on Monday in what police said was a family feud firing.  was shot six times.  The senior lawyer was moved to the Lady Reading Hospital after the shooting but was pronounced dead upon arrival/ The medical facility’s administration...

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New u-turn: Imran hints at return to National Assembly

New u-turn: Imran hints at return to National Assembly

Having long exhorted National Assembly Speaker Raja Pervez Ashraf to accept the resignations submitted by their lawmakers enmasse, former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Monday announced a major U-turn, stating that they could go back to the lower house of parliament. He said this in talks with senior journalists at...

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As results trickle in, PPP leads Karachi’s local body elections

As results trickle in, PPP leads Karachi’s local body elections

KARACHI/HYDERABAD: The Pakistan Peoples Party (PPP) is in the driving seat as the much-awaited results of Karachi’s local body elections are trickling in, with the Jamaat-e-Islami (JI) trailing behind, official numbers showed Monday. The delay in the release of results — despite the polling being closed at 5pm on Sunday — had prompted rigging allegations...

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Phillips fires New Zealand to ODI series win over Pakistan

Phillips fires New Zealand to ODI series win over Pakistan

KARACHI: Glenn Phillips smashed an unbeaten half-century as New Zealand secured a series victory over Pakistan with a two-wicket win in the third and final one-day international in Karachi on Friday. Phillips scored 63 off 42 balls, hitting four sixes and as many fours, to rescue New Zealand from a precarious 181-5 in their pursuit of a 281-run target....

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No change in Karachi, Hyderabad LG election schedule

No change in Karachi, Hyderabad LG election schedule

ISLAMABAD: The Election Commission of Pakistan (ECP) has rejected the Sindh government’s request to delay the local bodies polls in Karachi and Hyderabad, a spokesperson for the provincial electoral body told Geo News Saturday. The Pakistan People’s Party (PPP) government in Sindh had once again asked the ECP to postpone local bodies polls citing the law and order situation...

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Gwadar port starts receiving govt imports of bulk cargos

Gwadar port starts receiving govt imports of bulk cargos

The Gwadar port has started receiving government imports of bulk cargos as three consecutive vessels carrying 90,000 MT urea have already arrived at the port and clocked the fastest discharge rate. This represents the efforts of the Ministry of Maritime Affairs, China Pakistan Economic Corridor (CPEC) Authority, Gwadar Port Authority (GPA), Trading Corporation of Pakistan...

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Farooq Sattar, Mustafa Kamal join MQM-P

Farooq Sattar, Mustafa Kamal join MQM-P

After years of differences, Pak Sarzameen Party (PSP) Chairman Mustafa Kamal and Muttahida Qaumi Movement Restoration Committee Chief Dr Farooq Sattar have joined the Muttahida Qaumi Movement-Pakistan (MQM-P) on Thursday. After developing differences with the party, Kamal established the PSP in 2016 and Sattar formed the MQM-P Bahali Committee in 2018. MQM-P Convener Khalid Maqbool Siddiqui, addressing...

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NEPRA approves increase in power tariff for K-Electric consumers

NEPRA approves increase in power tariff for K-Electric consumers

National Electric Power Regulatory Authority (NEPRA) on Friday issued a decision on the application regarding the uniform tariff, approving an increase in the price of electricity for K-Electric customers in Karachi. The price increase for different categories will range from Rs 1.49 to Rs 4.49, resulting in an additional burden of Rs16 billion for consumers....

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PDM calls emergency meeting to discuss political strategy

PDM calls emergency meeting to discuss political strategy

The ruling Pakistan Democratic Movement (PDM) on Friday called an emergency meeting as consultations between the senior leadership continued through the night and remained resolute that the National Assembly will not be dissolved and the government will push to complete its term. The agreement of the ruling alliance comes after Punjab Chief Minister Pervaiz Elahi...

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