By Kamran Yousaf in The Express Tribune, June 12, 2019 ISLAMABAD: The federal government on Tuesday proposed a 4.7 per cent increase in the defence budget despite earlier announcement that the military spending would remain unchanged as part of the overall austerity drive. The budget document shows that defence outlay for 2019-20 would be Rs1,152 billion compared to Rs1,100 billion earmarked for the ongoing fiscal year. However, when compared to the last few years during…
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by Khalid Mustafa in the News, June 11, 2019 ISLAMABAD: There has been a major decline in manpower export to Saudi Arabia where only 100,910 emigrants proceeded for employment in the year 2018 as compared to 2017, a drop of 42,453 emigrants. According to Economic Survey 2018-19, no doubt Overseas Employment Migration has an important role in respect of employment creation and poverty eradication. International migration creates significant financial and social benefits for migrants, for…
by Wajid Ali Syed in The News, June 4, 2019 WASHINGTON: In its effort to counter China and Russia’s prospective influence in South Asia, the United States has introduced a new strategy that aims to strengthen economic and military ties with different countries in the region but excludes Pakistan altogether. The strategy announced in a lengthy report identifies five South Asian countries as new allies and partners to achieve strategic objectives and for a more…
by Anwar Iqbal in Dawn, June 1st, 2019 WASHINGTON: Islamabad’s bureaucratic red-tapism caused Pakistan a major diplomatic embarrassment recently when the US State Department withdrew a tax exemption facility for Pakistani diplomats, official sources told Dawn. The sources said that Pakistani tax officials’ inability to clear bills on time was the main reason for the US action, which took effect on May 15. An official US statement, shared with Dawn by a spokesperson for the…
By Kashif Hussain in The Express Tribune, May 20, 2019 KARACHI: Trade between Pakistan and Sri Lanka has come to a screeching halt. The reason behind the stoppage is said to be the rising violence against the Muslim community in Sri Lanka in the wake of recent terrorism and suicide attacks over there, which resulted in heavy casualties. “Rice and textile exports to Sri Lanka from Pakistan have stopped. Potato export has also reduced drastically,”…
report in The News, May 18, 2019 KARACHI: A renowned economic news outlet has termed Pak rupee worst performer in Asia. The rupee has plunged more than 20% in the past year, making it the worst performer in a basket of 13 currencies in Asia compiled by Bloomberg. According to a daily Jang report, Pak rupee depreciated 29 per cent in May alone. The currencies of Afghanistan, Bangladesh and Nepal are stable in comparison with…
ISLAMABAD – The terrorist organisation Islamic State (IS) has opened its Pakistan branch with the name of “Wilayah of Pakistan” — a move aiming at luring local militants who are largely on the run after busting of their previous networks by the country’s valiant security forces. The IS made this announcement the other day through its official news outlet, only five days after it announced opening of its chapter in India with the name of…
by Khaleeq Kiani in Dawn, May 17th, 2019 ISLAMABAD: Pakistan faced harsh questioning on effectiveness of its efforts against money laundering and terror financing at the “face-to-face meeting” of the Asia-Pacific Group (APG) on money laundering, a regional affiliate of the Financial Action Task Force (FATF). A 10-member delegation led by Finance Secretary Mohammad Younas Dagha represented Pakistan at the two-day APG meeting in Guangzhou, China. It briefed the group about the country’s updated actions…
report in The News, May 11, 2019 ISLAMABAD: Following concerns expressed by the opposition and a treasury lawmaker in the Senate on Friday, the issue, involving a US company Sandvine Inc with regards to an agreement on monitoring of internet traffic was referred to the House standing committee concerned for deliberations and report. Senators forced, during the question hour, Federal Minister for Parliamentary Affairs Muhammad Azam Swati to agree to its referral to the House…
AFP report in the Express Tribune, May 9, 2019 ISLAMABAD: Aasia Bibi, the Christian woman acquitted of blasphemy charges by the Supreme Court, has been reunited with her family, US Secretary of State Mike Pompeo said on Wednesday. Earlier in the day, sources in Pakistan’s Foreign Office confirmed she had left the country for Canada. “The United States welcomes the news that Aasia Bibi has safely reunited with her family,” he said in a statement.…
By Muhammad Shehzad in The Express Tribune, May 8, 2019 LAHORE: At least eight people, including five Elite Force personnel, were martyred when a police vehicle was targetted by a suicide bomber in Lahore on Wednesday. Three civilians were among those martyred and 21 people were injured in the attack. Police sources confirmed that the Elite Force vehicle was the target of the attack. The attack occurred near the entrance gate for female visitors to…