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Lahore: Pakistan’s agriculture sector is on the verge of collapse as the nation battles to meet the demand for urea fertiliser, a crucial input for crop production, in the midst of a severe natural gas shortage, reported The News International quoting an industry official.In a recent meeting, the fertiliser review committee (FRC), which keeps tabs on fertiliser availability and costs, issued a
Islamabad: Pakistan International Airlines (PIA), the country’s main airline is once again in hot waters as the Federal Board of Revenue (FBR) froze its account on the basis of non-payment of more than Rs 2 billion in taxes, according to ARY News.In January last year, the FBR had frozen 53 bank accounts of the PIA after it was found to be a tax defaulter of Rs 26 billion.However, those bank
Islamabad: Pakistan score’s on Global Hunger Index (GHI) has dropped from 38.1 in 2006 to 26.1 in 2022, revealing the extent of the crisis that the gripped the country and its people, Dawn reported.The Pakistan chapter of the Global Hunger Index (GHI) released the data on Tuesday.The GHI ranked Pakistan at 99th position out of 121 countries surveyed.The GHI, in a statement, said armed conflicts,
Islamabad: Pakistan’s Army Chief Syed Asim Munir underlined the need to make the country self-reliant to end the dependency on foreign loans, which the cash-strapped nation recently secured with the International Monetary Fund (IMF), Geo News reported.While addressing the opening ceremony of Khanewal Model Agriculture Farm on Monday, the Chief of Army Staff of Pakistan said, “Pakistanis are a
Washington: US Principal Deputy Assistant Secretary of State for South and Central Asia, Elizabeth Horst, has said that there is no quick remedy for Pakistan’s economic problems, but following the agreement it has made with the International Monetary Fund (IMF), may help it get through the crisis, The Dawn reported.“We support the arrangement. It provides a breathing space” to Pakistan, Horst
Islamabad: As Pakistan moves forward to meet the IMF terms, the federal cabinet authorised a significant increase in the electricity base rate through circulation summary in a late-night decision, according to sources cited by ARY News on Saturday.Sources privy to the development told ARY News that the federal government has increased the basic power tariff by Rs3 for some customers and by Rs7.5
Islamabad: After announcing the bailout package for Pakistan, the International Monetary Fund (IMF) conveyed its concerns regarding the poor past record of Pakistan and advised the country to complete the new programme to reduce the trust deficit, Pakistan-based The Express Tribune reported.The IMF Executive Director Bahador Bijani on behalf of the board has conveyed the message to Pakistan’s
Islamabad: Pakistan’s falling economic situation, inflation, uncertain policy environment and volatile banking rates are making the business class depressed and also making them lose confidence in the economy, Federico Giuliani wrote in InsideOver.Recently, Overseas Investors Chambers of Commerce and Industry (OICCI) revealed a grim account of the faith reposed by businessmen in Pakistan’s
Pakistan Army has been compelled to halt all military drills and war exercises due to a severe fuel shortage caused by the country’s political and economic turmoilWith the nation plunged into an economic crisis and mounting debt, Pakistan Army has called off all scheduled military drills and war exercises until December this year due to the shortage of fuel.A media report states that the Director
Karachi: Karachi city in Pakistan is witnessing massive protests due to scorching temperatures and a severe electricity crisis, ARY News reported on Monday.Following the end of the Eid holidays, the electricity situation worsened, resulting in load shedding of longer periods lasting more than 12 hours in certain places and up to 16 hours in others.The residents of Gulistan-e-Johar, Malir, and