The carrier has come under fire for allegedly failing to pay its employees due to a shortage of funds, leading to speculation that flight operations would be affected Pilots of Pakistan’s national flag carrier, Pakistan International Airlines (PIA), are considering boycotting flights over non-payment of their salaries, local media outlet ARY News reported. The carrier…
SAYS RECONCILIATION, NOT CONFRONTATION MARK NEW POLITICS; ALL PREDICTIONS OF DEFAULT TURNED OUT TO BE FALSE ALARMS Following the completion of the coalition government’s one-year, Prime Minister Shehbaz Sharif on Tuesday termed the year a “successful tenure” that resulted in Pakistan restoring its credibility, and overcoming the financial and energy challenges. Marking a year since…
Pakistan has reportedly received $1 billion financing commitment from the United Arab Emirates (UAE). A written guarantee in this regard is too expected in the ongoing week after Finance and Revenue Minister Ishaq Dar put special request to the UAE officials, sources in the Ministry of Finance (MoF) told. The UAE’s financing will pave the…
Amid political and economic turmoil, the International Monetary Fund (IMF) has slashed Pakistan’s GDP growth rate projection from 2.5 per cent to 0.5pc for the fiscal year 2023-24. Fifth most populated country in the world, Pakistan is expected to experience inflation more than anticipated, reported a world economic outlook report released by the global lender on…
The traders association has announced plans to stage nationwide protests after Eidul Fitr in response to the escalating inflation and deteriorating economic conditions in Pakistan. President of Markazi Tanzeem Tajran, Muhammad Kashif Chaudhry, stated during a press conference that if these issues are not resolved, traders across the country will organize conventions and demonstrations. Chaudhry…
KARACHI – Pakistani rupee resuscitated itself Tuesday against the US dollar in the interbank market by recording slight gains. During the intra-day trading, the local currency appreciated by Rs0.28 against the US greenback and was quoted at 283.30. On Monday, PKR was unable to continue momentum against the high-flying dollar, settling at 283.58 in the…
The Gambling Commission said it considered suspending the bookmaker’s permit, however ruled against it. William Slope will suffer a record £19.2 million consequence for “broad and disturbing” social obligation and hostile to tax evasion disappointments, as the Betting Commission said it truly considered suspending the wagering company’s permit. The “settlement” is the biggest in the…
ISLAMABAD – Pakistani rupee failed to stand against the US dollar on the first working day after shedding Rs0.39 in the interbank market amid IMF uncertainty. During the inter-bank trading, the local currency was unable to maintain its momentum against the greenback and slid further by 0.13 percent as trading started after four days. Data…
He asserts that Pakistan will not default and that the administration is doing everything it can to help the country navigate a challenging situation. ISLAMABAD: According to Finance Minister Ishaq Dar, the government is putting up enormous effort to steer the economy out of the challenging position and onto the path of sustainable economic growth.…
Bad news for car enthusiasts, Honda Atlas Car Limited (HACL) has passed on the impact of the exchange rate and general sales tax on vehicles above 1400 cc to 25% by increasing the prices of various vehicles. gave According to the details, the prices of Honda City MT 1.2 L, CVT 1.2 L, CVT 1.5…
