Page 48 - Pakistan

S&P downgrades outlook on Pakistan's long-term ratings to 'negative'

The global economic slowdown poses fresh risks to Pakistan's post-pandemic recovery

Pakistan central bank says FX reserves have fallen by $754 mn to $8.57 bn

"During the week ended on 22-Jul-2022, SBP's reserves decreased by US$ 754 million to US$ 8,575.1 million due to external debt and other payments," the central bank said

No threat for third Indian team in Chess Olympiad after Pak's withdrawal

With withdrawal of Pakistan, the total number of confirmed entries for the Chess Olympiad goes down to 187 in the Open category and 161 in the Women's section.

Pakistan's current account deficit rises to 4-year high of $17.4 bn in FY22

The State Bank of Pakistan (SBP) on Wednesday reported that the country recorded a CAD of USD 17.406 billion in FY22 compared to a gap of just USD 2.82 billion in FY21.

Pakistan: Nawaz Sharif works out strategic plan for giving up govt

PDA in its summit meeting will deliberate the suggestion put up by Quaid of the PML-N Nawaz Sharif for quitting the government at the earliest and make a movement for holding fresh polls in Pakistan

Pakistan: Weak economy, political uncertainty hit China-led Port Project

China, the sole investor in the Gwadar projects is hesitating to invest amid uncertainties as the ongoing economic crisis and political instability in Pakistan are hitting investment sentiments

Pakistan: 8 more die in rain-related incidents in Balochistan, Sindh

Heavy rains continued to cause great damage in several areas of Pakistan's Sindh and Balochistan province, as eight more people lost their lives in rain-related accidents

Pakistan: President Arif Alvi administers oath to Pervez Elahi as Punjab CM

Pakistan's President Arif Alvi in the wee hours of Wednesday at the Aiwan-e-Sadar administered the oath to Pervez Elahi as the new Chief Minister of Punjab.Pakistan Tehreek-e-Insaf (PTI) backed Pervez Elahi took oath as the Chief Minister of Punjab after the Supreme Court announced a verdict against the ruling of Punjab Assembly Deputy Speaker Dost Mohammed Mazari, reported Geo News.SC's three-member bench -- comprising Chief Justice of Pakistan Umar Ata Bandial, Justice Ijazul Ahsan, and Justice Muneeb Akhtar -- had initially ordered Punjab Governor Baligh ur Rehman to administer the oath to Elahi, however, he refused to perform his duties. Consequently, President Arif Alvi administered the oath.Following Governor Punjab's refusal, Elahi left for Islamabad late Tuesday night to take oath from Alvi as per the Supreme Court's order.According to Geo News, President Alvi had sent a special aircraft to bring Elahi to Islamabad for the oath-taking ceremony, reported Geo News.Earlier, the ..

Pakistani rupee reaches new low against US dollar, closes at 232.93

Pakistani rupee (PKR) reached a new low against the US dollar on Tuesday, closing at Rs 232.93 in the interbank market

Pakistan: Ruling PML-N apprehensive of early elections amid political chaos

Pakistan Muslim League - Nawaz (PML-N) led ruling coalition now smells a rat amid political chaos in the country and is apprehensive of early elections

Imran Khan calls on supporters to celebrate Pak SC verdict on Punjab's CM

Imran Khan urged his supporters to take to the streets to celebrate the country's Supreme Court announcement of making Pakistan Muslim League (Q) leader Pervaiz Elahi the new CM of Punjab province

Pak expected to secure $1.2 bn from IMF, may help ease pressure on currency

Pakistan's currency and bonds have been hammered this month as the specter of political uncertainty delaying IMF support for the nation unnerves investors

India slams move by Pakistan, China to involve 3rd nations in CPEC projects

India slammed China and Pakistan for their efforts to encourage third countries to join projects relating to their multi-billion dollar connectivity corridor that passes through PoK

Pakistan raises power prices amid energy crisis despite rampant inflation

Inflation last month reached 21.3%, driven mainly by rising food costs, and the country also faces fast-depleting foreign reserves, a depreciating currency and widening current account deficit

Two Pakistan planes escape mid-air collision over Iranian territory

A major tragedy was averted as two Pakistan International Airlines (PIA) planes flying nearly escaped a mid-air collision over Iranian territory on Sunday, according to media reports

310 killed, 300 injured as heavy rains continue to wreak havoc in Pakistan

Nearly 310 people have been killed and 295 others injured in separate rain-related incidents in Pakistan since June 14 as heavy downpours continued to lash the country

Pakistan curbing interbank trade to contain dollar shortage: Report

State Bank of Pakistan asked commercial lenders to manage import-payment requests from their own inflows, such as exporter accruals and remittances

Despite trade ban, Pakistan imports from India jump 2x in April-May

The Shehbaz Sharif-led govt named a senior official 'trade minister' in Pakistan's New Delhi embassy in May

Pak rupee slumps to record low of 230 against dollar amid inflation fears

The Pakistani rupee has dropped to a record low against the US dollar with the exchange rate sliding to PKR 230, local media reported on Monday.The data provided by the State Bank of Pakistan (SBP) showed that the rupee slumped to 230 during intraday trade, as compared to its rate of 228.37.The Pakistani rupee has slumped nearly 8 per cent against the US dollar during the last trading week, and the forex reserves of the country are below USD 10 billion with inflation at the highest in more than a decade, Geo News reported."Markets are responding to these shocks in an unfairly broad-brush way, without paying enough attention to Pakistan's relative strengths," Acting governor of Pakistan's central bank Murtaza Syed said.Capital marker expert Muhammad Saad Ali said there has been a slump in the rupee due to the rise in the political uncertainty in the Punjab province, local media reported."Note that BoP (balance of payments) pressures on the currency have eased, as per the SBP, which ...

As Covid cases surge, Pak to strictly monitor passengers from India: Report

Indian passengers arriving in Pakistan through air or land routes, including via Kartarpur Corridor, will undergo telescopic monitoring at all entry points due to the rising coronavirus cases in India