China’s Grand Plan At Work To Bypass Strait of Malacca, South China Sea For Oil and Trade

IRSHAD SALIM; Oct 29, 2018: On September 9, Beijing signed a memorandum of understanding (MOU) with Myanmar’s government to establish the China-Myanmar Economic Corridor (CMEC) under its ambitious Belt and Road initiative (BRI) whose flagship project underway in Pakistan is called the the China-Pakistan Economic Corridor (CPEC). Both projects which are being led from the […]

China to Give Pakistan ‘Grant’ as UAE Mulls $6B Aid Package ‘Similar’ to Saudi

ISLAMABAD; Oct 28, 2018: China plans to provide an unspecified financial “grant” to Prime Minister Imran Khan’s nascent government while the United Arab Emirates is actively considering his government’s request for a fiscal relief package of up to $6 billion to help the country deal with a looming balance-of-payments crisis, reports VOA citing Chinese and […]

Two-Thirds Pakistanis Approve of Chief Justice Saqib Nisar’s Performance: Poll

ISLAMABAD, Oct 26, 2018: Two-thirds Pakistanis approve of Supreme Court Chief Justice Saqib Nisar’s performance A survey by Gallup & Gilani Pakistan found that 32 per cent Pakistanis think Chief Justice’s performance during the past one year very good; 25 percent said his performance was good and 11 percent called it appropriate. A nationally representative […]

Dearth of Economic, Financial Experts in Finance Ministry Irks PM Khan

ISLAMABAD; Oct 25, 2018: The Ministry of Finance (MoF) usually deals with subjects pertaining to the finance of the government and financial matters affecting the country’s economy as a whole. Ironically, the said ministry in Pakistan lacks qualified and skilled experts necessary to handle economic and matters affecting financial sector’s activities in the country, it […]

Govt Allows Non-Filer Overseas Pakistanis to Purchase Property

ISLAMABAD; Oct 25, 2018: The government has removed the condition of being a tax-filer for overseas Pakistanis to purchase properties in the country and individuals acquiring properties through inheritance. The decision was taken to alleviate hardships faced by non-resident individuals investing in the real estate sector. The condition which was imposed by previous government increased […]

Govt Okays Sale of JF-17 Fighter Aircraft to Nigerian Air Force for $184m

ISLAMABAD; Oct 24, 2018: The Economic Coordination Committee (ECC) of the Cabinet has approved sale of three JF-17 aircraft to Nigeria for a sum of $184.3 million against issuance of a certificate of sovereign guarantee rather than sovereign bank guarantee which the Nigerian government has accepted. The Ministry of Defense Production informed the ECC that […]

Rupee Improves Against US Dollar, Stocks Jump to Almost 1600 Points

ISLAMABAD; Oct 23, 2018 (Updated): The US dollar showed downward trend by Rs1.92 against Pakistani rupee in interbank market on Wednesday. Due to decline in US dollar rate, it is being traded at Rs132 — the buying price is Rs131, whereas it is being sold at Rs133. The turn down in US dollar rate has […]

Pakistan and Russia Conduct Third Joint Military Drills

ISLAMABAD; Oct 23, 2018: Pakistan and Russia began annual joint military exercises to strengthen cooperation in the war against terrorism and the growing threat from the Islamic State group in neighboring Afghanistan. According to officials, the “Druzhba-III” (Friendship III) exercise began on Monday at the National Center for Counterterrorism in the northwestern mountain city of […]

PM Khan’s Second Visit to Saudi Arabia, On Special Invitation of the King

ISLAMABAD, Oct 22, 2018: Prime Minister Imran Khan arrived in Saudi Arabia Monday to attend the Future Investment Initiative Conference (FIIC) dubbed as ‘Davos in the Desert’, in Riyadh. He is paying the visit on special invitation of King Salman Bin Abdel Aziz. The two-day event is being held in the Saudi capital from 23-25 […]

Debt Payment Bigger Issue for Pakistan Than Defense Expenditure

ISLAMABAD, Oct 19, 2018: Pakistan’s new government led by cricketer-turned-politician Imran Khan by, which took office in August, has inherited a series of urgent economic challenges. These include plunging foreign reserves, a balance of payments crisis, and water and energy shortages. The question is, how serious are these economic challenges right now? What is to […]

Pakistan Cautions Against 80s Style US Pullout From Afghanistan, Without Achieving Peace

ISLAMABAD, Oct 18, 2018: Pakistan’s thought leaders have cautioned against the US forces’ withdrawal from Afghanistan without first achieving the complete peace and security in the war-torn country. “Pakistan has been reiterating that the US forces should stay in Afghanistan till the achievement of complete peace and stability,” Foreign office spokesperson Dr Muhammad Faisal said […]

NAB Chief Orders Inquiry Into Islamabad’s Rs15Bn Park Enclave Housing Project

ISLAMABAD, Oct 18, 2018: Taking notice of non-allotment of plots to citizens specially overseas Pakistanis, National Accountability Bureau (NAB) chairman Justice (retd) Javed Iqbal has ordered an inquiry into irregularities in Park Enclave housing scheme in the federal capital. The project is said to be an unattended scandalous case of the capital authority’s commercial housing […]

Abraaj Founder In Crosshairs: Sought to Influence Sharifs With $20M For K-Electric Sale, Says WSJ

Growing troubles at Abraaj threaten to engulf K-Electric as well, as liquidators and creditors now move in to organize a firesale of its assets to pay off the private equity firm’s more than a billion dollars in debts. Time therefore could be running out for the K-Electric sale to go through, at least at the […]

Hanging of Zainab’s Rapist, Murderer and 3445 Child Abuse Cases in 2017

The hanging of Zainab’s rapist and murderer in Kasur came coincidentally the same day a Senate Committee heard formal briefings from authorities on child abuse in the country ISLAMABAD (Oct 17, 2018): Zainab’s rapist and murderer Imran Ali was hanged to death in the wee hours of Wednesday in Lahore’s Kot Lakhpat Central Jail. Imran […]

Pakistan Navy’s SAIF Arrives in Saudi Arabia After Participating in Exercises With Turkey

RIYADH, OCT 17, 2018: Pakistan Navy ship ‘SAIF’ arrived in Saudi Arabia’s western port of Jeddah after participating in joint exercises with the Turkish navy in the Eastern Mediterranean days earlier. The exercises held in Turkey (28 September to 7 October) were aimed at enhancing interoperability between participating navies through the development of combined tactics, […]

Pak Navy Commissions Domestically Built Fleet Tanker PNS Moawin

ISLAMABAD; Oct 17, 2018: The Pakistan Navy (PN) has commissioned a new indigenously built fleet tanker in a ceremony held at the naval dockyard in Karachi. The new tanker –biggest warship ever constructed at Karachi Shipyard –is expected to boost the nation’s maritime security which has taken up added dimension with the China Pakistan Economic […]

Pakistan Navy Conducts War Games In Arabian Sea

OCT 15, 2018: Pakistan Navy’s major maritime exercise kicked-off in Karachi on Monday, said Pakistan Navy spokesperson. The opening brief of the navy’s Major Maritime Exercise named “Seaspark-18” was graced by Chief of the Naval Staff Admiral Zafar Mahmood Abbasi as the chief guest. All operational units of the Pakistan Navy (PN), including ships, submarines, […]

Mega Money Laundering Case Update: 5 Accused Flee Abroad, More ‘Benami Accounts’ Surface

OCT 15, 2018: Five out of 23 accused in the mega money laundering case under investigation by the the Federal Investigation Agency (FIA) have fled the country, it emerged Monday. The revelation was made in the report of a joint investigation team (JIT) probing the matter of laundering of several billion rupees through fictitious bank […]

Tehmina Durrani Appalled Shahbaz Sharif Incarcerated in ’10×10 Dingy Cell’

OCT 14, 2018: Incarcerated President of Pakistan Muslim League-Nawaz (PML-N) party, former Punjab chief minister and leader of the opposition in the National Assembly Shahbaz Sharif’s second wife Tehmina Durrani expressed her anguish over the conditions in which her husband has been kept in a cell of the National Accountability Bureau (NAB). In a series […]

Mysterious Bank Accounts Keep Surfacing in Country Which Has Highest Percentage of Non-Account Holders

The country has the highest percentage of adults in the region who don’t have a bank account, according to the World Bank; cases of identity thefts –considered a white collar crime under the law just as ‘benami account’ is, first appeared in the media last year OCT 14, 2018: Yet another case of mysterious bank […]