KARACHI: Pakistan’s latest government securities auctions attracted strong investor interest on Wednesday, with the State Bank of Pakistan (SBP) raising a total of Rs1.09 trillion through treasury bills and Pakistan Investment Bonds (PIB) Floaters, while cut-off yields declined across all T-bill tenors. In the treasury bills auction, the government accepted Rs979 billion against a cumulative target of Rs850 billion, whereas total bids amounted to Rs2.56 trillion. The government accepted Rs87 billion for one-month T-bills at a cut-off yield of 10.20%, marking a decline of 29 basis points from the previous…
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Economic stability faces scrutiny amid unresolved structural issues
LAHORE: After months of improved macroeconomic indicators and relative calm in currency and inflation markets, Pakistan’s business community is raising questions about whether the current phase of economic stability can translate into long-term growth. While headline numbers suggest improvement, industrialists argue that deep structural weaknesses remain unaddressed and could resurface once external support eases. Pakistan Industry and Traders Association Front (PIAF) Chairman Syed Mehmood Ghaznavi said that despite recent fiscal inflows and improved reserves, the country continues to face high interest-related expenditures that are draining public finances. He noted that…
Read MoreBank Alfalah exits Afghanistan
KARACHI: Bank Alfalah has decided to exit its operations in Afghanistan amid persistent political, economic and regulatory challenges in the country, a move that reflects both country-specific risks and a broader strategic shift underway across Pakistan’s banking sector. According to a statement and market commentary, the decision comes against the backdrop of frozen Afghan foreign reserves, uncertainty surrounding international recognition of the Taliban-led government, and prolonged disruptions to cross-border trade and financial flows. Banking sector analyst Asad Ali of Topline Securities said that, given the prevailing conditions in Afghanistan, the…
Read MoreRs465b Lahore-Bahawalnagar motorway faces scrutiny over unmet guidelines, resource concerns
ISLAMABAD: The federal government has conditionally recommended a Rs465 billion provincial project, named Lahore-Bahawalnagar motorway, for approval in violation of the National Fiscal Pact and instructions of the Prime Minister’s Office, as well as without securing funding and firming up design. The cost is Rs201 billion, or 76%, higher than the original price tag set two years ago, and the road project “jeopardises the viability, need and up-gradation of Mainline-I project” of the China-Pakistan Economic Corridor, reveals official documents. The Central Development Working Party (CDWP), which has the mandate to…
Read MoreCalligraphic works embody ‘Call of the Divine’
ISLAMABAD: The Pakistan National Council of the Arts (PNCA) and the National Heritage & Culture Division have organised a calligraphic exhibition and artist talk called “The Call of the Divine,” which features the works of Razwan Baig, Shazian Baig and Shanzay Baig, at the National Art Gallery, Islamabad. The exhibition showcases a blend of traditional and modern calligraphy, highlighting Quranic verses and Pakistani culture. The artists, part of the renowned Baig family, have exhibited their work internationally and are recognised for their contributions to Pakistani art. The chief guest at…
Read MoreJudges evaluation: JCP makes headways
ISLAMABAD: The Judicial Commission of Pakistan (JCP) has moved closer to formalising a framework for the annual performance evaluation of high court judges, with a key committee reaching broad agreement on proposed rules aimed at setting measurable standards under Article 175-A (20) of the Constitution. A meeting of the JCP committee, led by Justice Aamir Farooq, was held on Tuesday to deliberate on the draft rules. Other members of the committee include Mansoor Awan, Ali Zafar and Pakistan Bar Council (PBC) representative Ahsan Bhoon. The meeting continued for more than…
Read MoreBiopsy blunder at PIMS claims patient’s life
ISLAMABAD: A grave case of alleged negligence occurred at Islamabad’s Pakistan Institute of Medical Sciences (PIMS) Hospital, where a woman admitted for lung treatment lost her life due to a wrong medical procedure. Instead of performing a biopsy on the lungs of a woman suffering from a pulmonary disease, doctors mistakenly carried out a biopsy on her liver. The matter was exposed after the samples sent to a private laboratory revealed the shocking truth. The relatives of the deceased patient have filed a formal application with the Islamabad Healthcare Regulatory…
Read More‘Conducive environment’ behind K-P terror surge, says DG ISPR
ISLAMABAD: Director General Inter-Services Public Relations (ISPR) Lieutenant General Ahmed Sharif Chaudhry said on Tuesday that terrorists had found a “conducive environment” in Khyber-Pakhtunkhwa, which he linked to the province recording the highest number of attacks over the past year. Addressing a wide-ranging media briefing at the General Headquarters in Rawalpindi, the chief military spokesperson said the state’s stance on eliminating terrorism was unequivocal and asserted that the menace would be crushed decisively through the use of force and without compromise. He rejected narratives portraying Pakistan as a “powerless state”,…
Read MoreEx-PTI leaders push plan for political dialogue
ISLAMABAD: A group of former Pakistan Tehreek-e-Insaf (PTI) leaders, along with politicians from other parties, on Wednesday proposed a series of confidence-building measures, including the formation of high-powered negotiation teams comprising government and opposition representatives, to help lower the country’s political temperature. The proposals were outlined in a joint declaration issued by the National Dialogue Committee (NDC), an initiative launched by former PTI leaders Fawad Chaudhry, Imran Ismail and Mahmood Moulvi. The NDC convened a national conference to initiate a dialogue process aimed at bringing the government and opposition to…
Read MoreTen Bar members elected unopposed
RAWALPINDI: Ten more members of the executive body have been elected unopposed in the annual elections of the District Bar Association Rawalpindi. Earlier, Library Secretary Kashif Hussain and Auditor Muhammad Nazakat were also elected unopposed. The newly elected unopposed executive body members include Huriya Saeed, Aleema Khalid, Nahid Nazir, Hasan Nawaz, Hanan Irfan, Syed Zainul Abideen, Faheem Zafar, Muhammad Rizwan, Mudassar Mahmood, and Wajahat Zohur. Election Board Chairman Sajid Ilyas Bhatti said a projection meeting will be held today, Thursday, January 8, during which candidates for president, secretary, vice president,…
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