ISLAMABAD, June 03(ABC): Pakistan’s trade deficit crossed $43 billion in the first 11 months (July-May) of the outgoing fiscal year 2021-22, as the pace of increase in imports was more than the surge in exports due to the sky-high oil import bill,  reported Friday, citing data from Pakistan Bureau of Statistics (PBS). Analysts fear that a record-high trade deficit may …

ISLAMABAD, June 02(ABC): Finance Minister Miftah Ismail announced Thursday that the price of petrol has been moved up by Rs30 to Rs209.86, a few days after increasing the rate of the commodity by the same amount. Ismail, in a press conference, said Prime Minister Shehbaz Sharif has approved hiking the price of petrol, diesel, and light diesel by Rs30 per …

ISLAMABAD, June 02(ABC): Finance Minister Miftah Ismail said Thursday that Chinese banks have agreed to refinance Pakistan with $2.3 billion worth of funds which will “shore up Pakistan’s foreign exchange reserves.” Taking to his Twitter handle, Miftah wrote: “Good news. The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about $2.3 billion) have been agreed.” …

ISLAMABAD, June 02(ABC): The Supreme Court Thursday returned the PTI’s plea seeking protection from the law enforcement agencies (LEAs) as the Imran Khan-led party planned on holding a second long march — after the first one ended abruptly last week. The Supreme Court’s registrar raised objections to the petition, noting that the top court had already issued an order on …

ISLAMABAD, June 02(ABC): The National Electric Power Regulatory Authority (NEPRA) Thursday raised the basic power tariff by Rs7.9078/kWh for the next fiscal year 2022-23 increasing the burden of inflation on the people of Pakistan. The decision has been taken in line with the International Monetary Fund’s demands and the power distribution companies’ requests. Currently, the basic power tariff is Rs16.91 …

SHANGLA, June 02(ABC): PTI Chairman Imran Khan on Thursday vowed to keep holding rallies and continue his anti-government campaign till general elections are announced. Addressing a jalsa in Shangla, Khyber Pakhtunkhwa, the former prime minister said that he is staying in the province for two more days to prepare everyone for the “Azadi March” anew. “I am strengthening all my organisations in …

KARACHI, June 02(ABC): The Pakistani rupee strengthened for a fifth straight day on Thursday on the back of US dollar selling from exporters, while hopes that Pakistan and the International Monetary Fund (IMF) would reach a staff-level agreement to resume the bailout this month also supported the local unit. According to data released by the State Bank of Pakistan (SBP), …

SINGAPORE, June 02(ABC): Moody’s Investors Service Thursday downgraded the outlook on Pakistan’s rating to negative from stable and affirmed the ‘B3’ local and foreign currency long-term issuer and senior unsecured debt ratings. The decision to change the outlook to negative is driven by Pakistan’s heightened external vulnerability risk and uncertainty around the sovereign’s ability to secure additional external financing to …

ISLAMABAD, Jun 2 (ABC): Prime Minister Shehbaz Sharif on Thursday warned his predecessor Imran Khan not to cross limits by giving statements about split of the country. “Do your politics, but don’t dare to cross limits and talk about division of Pakistan,” he said in a tweet from Turkey, where he is on a three-day official visit. Former prime minister …

ISLAMABAD, May 02(ABC): Following the controversy surrounding the appointment of senior PML-N leader Hanif Abbasi as a special assistant to prime the minister, he tendered his resignation on Thursday. Confirming the news, Abbasi expressed gratitude to PM Shehbaz Sharif for instilling confidence in him. Last month, Islamabad High Court (IHC) Chief Justice Athar Minallah stopped Abbasi from working, saying that a …

TOKYO, June 02(ABC): Japan s Kawasaki Heavy Industries has developed its first quadruped robot that it believes can help with labor shortage in the country s aging society. BEX, the robotic goat, can lift up to 220 pounds , developed the super-strong quadruped to help move industrial cargo in Japan where the median age is 48.6. The horned robot can …

UNITED NATIONS, June 02(ABC): Nearly 100 days of the war in Ukraine have devastated children at a scale and speed unseen since World War II, and on average over two children are killed a day, the UNICEF said Wednesday. Highlighting the devastating and lasting consequences of the war on millions of the country’s youngsters, The UN Children’s Fund, UNICEF, maintained …

PESHAWAR, June 02(ABC): PTI Chairman Imran Khan warned on Wednesday that if the establishment does not “take the right decision” then Pakistan would break into “three parts”. In an interview with a private television channel, the ousted prime minister said the country is on the brink of “suicide” if “right decisions” are not taken, as it might move towards default. …

ANKARA, June 02(ABC): Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan Wednesday renewed the pledge to boost the bilateral ties between the two countries to new heights. The prime minister is on a three-day visit to Turkey — his first since assuming office in April — where he will meet several Turkish officials and members of the business …

ANKARA, June 01(ABC): Prime Minister Shehbaz Sharif on Wednesday invited Turkish investors to explore Pakistan’s diverse sectors, particularly the energy sector, which offers immense opportunities and scope for development. The prime minister addressed the Pakistan-Turkey Business Council under the DEIK – Foreign Economic Relations Board, where he said Pakistan’s energy sector, with its vast potential in hydel, thermal, coal, wind, …

ISLAMABAD, June 01(ABC): Pakistan Tehreek-e-Insaf (PTI) has filed a petition in the Supreme Court seeking permission for a second long march to Islamabad. The petition, filed by PTI Secretary-General Asad Umar, named the interior ministry, Islamabad inspector-general and others as respondents. PTI Chairman Imran Khan had abruptly announced the end of his ‘Azadi March’ on March 26 and had given …

NEW YORK, June 01(ABC): Meta-owned instant messaging app WhatsApp is developing a new feature for business accounts to enhance their profile by adding a cover photo, reported. WhatsApp rolled out the ability to set up cover photos for business accounts for iOS two months ago, however, the feature is still under development on WhatsApp beta for Android. According to the …

KARACHI, June 01(ABC): A life-changing spacebar trick has taken social media by storm as it could help people struggling to place the cursor of their smartphone before a particular alphabet while trying to rectify the error. The video shared on social media began with the text: “How old were you when you discovered the spacebar on your phone isn’t just for …

ISLAMABAD, June 01(ABC): Islamabad High Court (IHC) Chief Justice Athar Minallah observed on Wednesday that no amendment in the Election Act, 2017 restricts overseas Pakistanis from using their right to vote. “Expats have not been deprived of their right to vote either in the former or existing laws,” Justice Minallah remarked during the hearing of a plea against the National …

ANKARA, June 01(ABC): Prime Minister Shehbaz Sharif has vowed to take Pakistan and Turkey’s bilateral trade to $5 billion in the next three years, and urged Turk investors to come to Pakistan while assuring his full support to them. PM Shehbaz Sharif is currently in Turkey on a maiden three-day official visit. During his visit, PM will have a tete-a-tete with President …

ISLAMABAD, June 01(ABC): The Election Commission of Pakistan (ECP) Tuesday issued the preliminary delimitation of constituencies in which it revised the National Assembly seats from 342 to 336. According to the ECP’s preliminary report, the number of general seats in the NA will decrease from 272 to 266. Balochistan will have 16 general seats in the NA, Khyber Pakhtunkhwa will have …

MANSEHRA, May 29(ABC): Prime Minister Shehbaz Sharif said Saturday the burden of foreign debts on Pakistan is such that it could not be paid off by generations to come. “[Ex-premier] Imran Khan’s government took such hefty amount of loans that our generations might not be able to pay them,” the prime minister told a public gathering in Manshera. The prime …

LUDHIANA, May 29(ABC): Congress leader and Punjabi singer Shubhdeep Singh Sidhu was killed in a firing incident at Jawaharke in Mansa district on Sunday evening confirmed police officials. According to available reports , two others were also injured in the incident in which more than 30 rounds were fired. Moose Wala was rushed to the civil hospital in Mansa in a …

KATHMANDU, May 29 (ABC): A passenger plane with 22 people on board went missing in Nepal on Sunday, the operating airline and officials said, as poor weather hampered a search operation. Nepal’s air industry has boomed in recent years, carrying goods and people between hard-to-reach areas as well as foreign trekkers and climbers. But it has a poor safety record. …

ISLAMABAD, May 29(ABC): After removing subsidies from petroleum products, the government is likely to increase the system gas tariff by 40-50% in its continued bid to revive the $6 billion International Monetary (IMF) programme, expecting the revenue requirement determination for the fiscal year 2022-23 by the Oil and Gas Regulatory Authority (OGRA) in June,  reported Sunday, citing a senior energy …

ISLAMABAD, May 28(ABC): Pakistan is likely to get $2.5 billion from China after both sides reached an agreement on economic package. According to sources privy with the development, foreign exchange reserves will increase while pressure of foreign debt payments will reduced after Chinese funds are received. Sources further said that government is also in talks with China for economic package …

ISLAMABAD, May 28(ABC): The federal government has scrapped the import ban on certain items, other than cat and dog foods, the Ministry of  Commerce clarified Saturday. The government had on May 19 imposed a ban on the import of non-essential luxury items under an “emergency economic plan” to “save the country precious foreign exchange”. The move was widely hailed but …

ISLAMABAD, May 28(ABC): Government and its coalition partners have agreed on name of Justice (retd) Maqbool Baqar as new Chairman of National Accountability Bureau (NAB). According to sources privy with the development, the name of former Supreme Court judge came under discussion during meeting of Prime Minister Imran Khan and former president Asif Ali Zardari. Sources further said that Government …

LAHORE, May 28(ABC): Prime Minister Shehbaz Sharif’s counsel Saturday argued that the Rs16 billion money laundering case was “politically motivated” and “based on mala fide intentions” because the PTI government wanted to imprison his client. The arguments came during the hearing of the money laundering case at the special court (Central-I) where the prime minister and his son Punjab Chief …

ISLAMABAD, May28(ABC): Following the decision to increase the prices of petroleum products by Rs30 a day ago in a bid to revive the International Monetary Fund’s (IMF) programme for Pakistan, Prime Minister Shehbaz Sharif on Friday said that the government will include a Rs28 billion package in the upcoming budget to provide relief to the masses. Addressing the nation, the …

ISLAMABAD 27 May (ABC): Prime Minister (PM) Shehbaz Shareef and Opposition leader Raja Riaz held meeting on Firday to made consultation on new Nab chairman at PM house. Fawad Hassan Fawad, Qamar Zaman, Bashir Mamon and Irfan Qadir Sheikh were the names present for NAB chairman. According to source both leaders agreed to consult with their allied parties to finalize …

PESHAWAR, May 27(ABC): PTI Chairman Imran Khan Friday rebutted rumours of his party striking a deal with the establishment and said that he ended the “Azadi March” to avoid bloodshed. In a surprise move on Thursday morning, Khan gave a six-day ultimatum to the government to announce the election date, warning to return with three million people after chaos gripped …

ISLAMABAD, May 27(ABC): Government will be increasing electricity prices by Rs. 7 to meet the demands on International Monetary Fund (IMF). According to sources privy to the matter, the hike of Rs. 7 in electricity prices would include an increase in basic tariff and fuel adjustment charges. The hike in power tariff will be applicable from July 1. Moreover, the …

SKARDU, May 27(ABC): Renowned Pakistani mountaineer Ali Raza Sadpara passed away in the wee hours of Friday at the age of 55, reported. Ali Raza Sadpara had suffered critical injuries after falling from a mountain during a routine climbing practice near his village in Skardu. He met an accident while pre-expedition preparation of his K-2 summer expedition and got severe …

ISLAMABAD, May 27(ABC): Prime Minister Shehbaz Sharif will announce a relief package for the poor in an address to the nation today (Friday), reported. Sources privy to the matter said that the premier will take the nation into confidence over the prevailing economic situation of the country and shed light on the government’s decision to remove subsidies on petroleum products. …

KARACHI, May 27(ABC): The US dollar on Friday plummeted by Rs3 against the Pakistani currency, sliding down to Rs199 in the interbank market. The downslide in the dollar’s value occurred after the government decided to remove petroleum subsidies in line with the conditions of the International Monetary Fund (IMF). The subsidy removal meant the government imposed a major hike in …

ISLAMABAD, May 26(ABC): Prime Minister Shehbaz Sharif Thursday ruled out the notion of receiving “dictation” from PTI Chairman Imran Khan and stressed that the National Assembly would make decisions regarding the date of the next general elections. Although the prime minister said he “refuses to be dictated” during his hard-hitting speech in the NA, he did not rule out holding …

ISLAMABAD, May 26(ABC): The Supreme Court of Pakistan on Thursday disposed of the federal government’s contempt of court plea against PTI Chairman Imran Khan over his violation of the apex court’s orders during PTI’s ‘Azadi March’. The government had filed the plea this morning after the PTI openly defied the SC’s directives, announcing to hold a rally at D-Chowk in …

ISLAMABAD, May 26(ABC): The federal government on Thursday filed a contempt of court plea against PTI Chairman Imran Khan in the Supreme Court (SC) over violation of the apex court’s orders during PTI’s ‘Azadi March’. The move came after the PTI openly defied the SC’s directives, announcing to hold a rally at D-Chowk in Islamabad’s prohibited Red Zone. The SC …

KABUL, May 26 (ABC): The death toll from four bombs that ripped through minibuses and a mosque in Afghanistan has risen to at least 16, officials said Thursday, with some of the attacks claimed by the Islamic State group. While the number of bombings has dropped across the country since the Taliban seized power last August, several deadly attacks rocked …