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July 15, 2023

Transportation in the Strait of Hormuz restored, oil prices drop further

Iranian rial value suddenly skyrockets, citizens flock to currency exchange centers

Meteorological Department issues important rain forecast

How much tax will be deducted from salary from July 1? New slabs introduced

New instructions issued for pilgrims going to Iraq for pilgrimage

Smartphone prices likely to drop by up to Rs 16,000

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Rs. 30 per litre petrol possible in Pakistan, economists say

Govt slashes petrol price by Rs9 per litre after rupee makes gains against dollar

July 15, 2023 10:44 pm

Finance Minister Ishaq Dar has announced on Saturday that the price of petrol has been

Prime Minister Shehbaz Sharif has emphasised the need for immediate structural reforms to steer the country out of crisis saying that there is no other way but to take initiate “drastic structural and economic reforms”. Addressing the office-bearers of Lahore Chamber of Commerce and Industry (LCCI) and renowned businessmen and industrialists at Governor’s House in Lahore, the premier said sacrifices of all stakeholders including business community was required to deal with prevailing challenges. PM Shehbaz said the government was taking all possible measures for promotion of industry and agriculture. However, in the given circumstances and in the face of grave challenges, industrialists and business community would have to play their role even more actively for enhancing exports and stabilising the economy, he added. Citing an example of Bangladesh textile industry, PM Shehbaz urged the business community to examine as to why Pakistan’s economy was unable to achieve the desired targets and its full potential despite having all natural resources. Bangladesh textile sector totally rely on imported cotton, but it is developing fast and gaining a niche in the global market while Pakistan’s textile is losing competition in the export markets, the PM added. Pakistan’s foreign reserves jump to $14 billion In the same address, the PM disclosed that the country's total foreign exchange reserves rose to $14 billion after the country received funds from friendly countries and International Monetary Fund (IMF) following $3 billion Stand-By Arrangement (SBA). He said that the incumbent government saved the country from default as the country received $2 billion from Saudi Arabia, $1 billion from UAE and $1.2 billion from the IMF. PM Shehbaz said forex reserves stood at $14 billion when the coalition government came to power in April last year, adding that the reserves reached the same level where they were previously. He also lauded China’s financial support to Pakistan saying that Beijing rolled over $5 billion of commercial and sovereign loans, which played a key in securing IMF bailout package. “We have to take optimum benefit from the IMF deal by utilising the amount on economic development and people’s prosperity,” he remarked. He added that unfortunately, the Pakistan-US relations were hit hard by the “ill-conceived decisions and remarks” by the previous Pakistan Tehreek-e-Insaf (PTI)-led government. The incumbent coalition government with collective efforts nomalised and improved ties with the USA, he added. During the previous government, the PM said, national interests were compromised for personal interests, and the economic situation became even worse when the IMF pact was violated in the past.

PM Shehbaz calls for immediate reforms to steer Pakistan out of crises

July 15, 2023 10:38 pm

Prime Minister Shehbaz Sharif has emphasised the need for immediate structural reforms to steer the

Fawad Khan & Sadaf Fawad pictures from Abbottabad

July 15, 2023 9:10 pm

Fawad Khan & Sadaf Fawad pictures from Abbottabad. Fawad Khan and Sadaf Fawad Khan make

Link between heart disease & red meat may sit in the gut

July 15, 2023 7:00 pm

Red meat alters the risk for cardiovascular disease Research published in 2022 in Arteriosclerosis, Thrombosis,

One third of Americans under alerts as heatwave likely to intensify

July 15, 2023 6:19 pm

One third of Americans under alerts as heatwave likely to intensify. More than a third

“Women will get property rights” Zahida and Shazia hope to be true

July 15, 2023 5:48 pm

In the sweltering heat of a summer afternoon, a white car navigated its way through

Ronaldo overtakes Messi to become world's highest earning sportsman in 2023

Ronaldo overtakes Messi to become world’s highest earning sportsman in 2023

July 15, 2023 5:12 pm

Star footballer Cristiano Ronaldo has surpassed Lionel Messi to become the world’s highest-earning sportsman in

Millie Bobby Brown swoons over ‘handsome’ fiancé Jake Bongiovi

Millie Bobby Brown swoons over ‘handsome’ fiancé Jake Bongiovi

July 15, 2023 5:04 pm

Millie Bobby Brown swoons over ‘handsome’ fiancé Jake Bongiovi. Millie Bobby Brown cannot help but

Emily Blunt says she is NOT quitting Hollywood, just taking ‘some downtime’

Emily Blunt says she is NOT quitting Hollywood, just taking ‘some downtime’

July 15, 2023 4:49 pm

Emily Blunt clarified her comments about taking a break from acting, saying she is only

Imran Khan defends protests in cantt areas, disowns vandalism

July 15, 2023 4:38 pm

LAHORE: Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan defended his supporters’ protests inside the cantonment areas

Latest News

Transportation in the Strait of Hormuz restored, oil prices drop further

Iranian rial value suddenly skyrockets, citizens flock to currency exchange centers

Meteorological Department issues important rain forecast

How much tax will be deducted from salary from July 1? New slabs introduced

New instructions issued for pilgrims going to Iraq for pilgrimage

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