ISLAMABAD: The rates of gold witnessed an increase in Pakistan, All Pakistan Sarafa Gems and Jewelers Association reported on Tuesday. The price of 24 karat per tola gold witnessed an increase of Rs2,100 and was sold at Rs349,200 against its sale at Rs347,100 on the last trading day. The prices of 10 grams of 24 […]
The Pakistan Army on Tuesday shot down an Indian quadcopter drone near the Line of Control (LoC) in Azad Jammu and Kashmir (AJK), state media reported, as tensions between the two countries linger on in the wake of the Pahalgam attack. The April 22 attack killed 26 men, mostly tourists, and was one of the deadliest armed attacks in the disputed Himalayan region since 2000. Kashmir Resistance, also known as The Resistance Front, said it “unequivocally” denied involvement in the attack, after an initial message that claimed responsibility. India, without offering any evidence, has implied cross-border linkages of the attackers, while Pakistan has strongly denied any involvement. Prime Minister Shehbaz Sharif has called for a neutral probe into the incident. “Pakistan has successfully shot down an Indian quadcopter along the Line of Control, thwarting a violation of its airspace,” state-run Radio Pakistan and PTV News reported, citing security sources. Specifying the location, security sources said the “enemy at...
The International Monetary Fund’s (IMF) Executive Board meeting is scheduled for May 9, with Pakistan listed on the official agenda. During the meeting, the IMF board is expected to approve a disbursement of $1.1 billion for Pakistan under the ongoing financial program. According to IMF statement, first Review under the Extended Arrangement under the Extended Fund Facility, the request for modification of performance criteria, and the request for an arrangement under the Resilience and Sustainability Facility are scheduled to take place on May 9. Meanwhile, Pakistan has also secured $1.3 billion in climate financing from the International Monetary Fund. This was stated by IMF Director of Communications Julie Kozack while responding to a query of ARY News during a press conference. Last month, Pakistan and the International Monetary Fund reached a staff-level agreement on the first review under Pakistan’s 37-month $7bn Extended Fund Facility (EFF) and on a new 28-month $1.3bn arrangement under the Resilience a...
Finance Minister Muhammad Aurangzeb says Pakistan has reached a pivotal moment of economic recovery and transformation. Addressing Pakistan Conference 2025, titled "Bridging Divides, Building Tomorrow: Pakistan’s Path to Inclusive Growth and Governance," at Harvard University, he said we have stabilized the fundamentals, restored confidence and reignited growth after inheriting an economy facing significant challenges from contracting GDP to depleting reserves. Muhammad Aurangzeb outlined the government’s strategy including maintaining fiscal discipline, controlling inflation, and pushing ahead with deep structural reforms in energy, taxation, governance and the management of state-owned enterprises. He flagged major growth opportunities in Pakistan’s rich mineral resources, expanding IT sector, green energy initiatives and the country’s youthful entrepreneurial population. He emphasized that strengthening human development is critical to sustaining high, inclusive growth. In his opening remarks, Ambassador R...
Pakistan and China have reiterated their firm resolve to uphold regional peace and stability, promote mutual respect and understanding, and jointly oppose unilateralism and hegemonic policies. The understanding was reached during a telephone conversation between Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar and Chinese Foreign Minister Wang Yi on Sunday. During the conversation, Senator Mohammad Ishaq Dar briefed Chinese Foreign Minister Wang Yi on current regional situation. He categorically rejected India's unilateral and illegal actions, as well as its baseless propaganda against Pakistan. Expressing deep appreciation for China's consistent and unwavering support, the Deputy Prime Minister and Foreign Minister reaffirmed Pakistan's strong commitment to the iron-clad Pakistan-China friendship and the shared vision of an All-Weather Strategic Cooperative Partnership. He emphasized Pakistan's determination to further deepen bilateral cooperation across all spheres. Both sides agreed to...
India has used the armed attack in Indian Occupied Kashmir as a pretext to suspend the Indus Waters Treaty with Pakistan for domestic political purposes, Defence Minister Khawaja Muhammad Asif has said, as he called for an international inquiry into the incident. India, he told The New York Times, was taking steps to punish Pakistan “without any proof, without any investigation.” Twentysix people were killed and several others injured in a gun attack on a group of tourists near Pahalgam, a town in the southern part of the disputed territory. In the interview with the Times on Friday, Asif said that Pakistan was “ready to cooperate” with “any investigation which is conducted by international inspectors. Times correspondent Julian Barnes, who interviewed the defence minister, wrote that his remarks “appeared to be aimed at defusing tensions with India”. “We do not want this war to flare up, because flaring up of this war can cause disaster for this region,” the defence minister said. Noting Indian officials ass...