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...