Recovery reliant on imports not exports

SBP warns of structural weaknesses as exports, productivity lag; firms profiteering keeps inflation sticky KARACHI: Pakistan’s economic recovery remains heavily dependent on domestic consumption, imports and remittance inflows rather than exports and productive investment, with the State Bank of Pakistan (SBP) warning that deep rooted structural weaknesses continue to threaten sustainable growth. “It has become…

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US imposes visa restrictions on associates of Indian online pharmacy over fentanyl-linked counterfeit drugs

State Department says network sold counterfeit fentanyl-linked prescription pills to buyers in US Packets of fentanyl mostly in powder form and methamphetamine, which U.S. Customs and Border Protection say they seized from a truck crossing into Arizona from Mexico, is on display during a news conference at the Port of Nogales, Arizona, U.S., January 31,…

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Imran sisters again denied jail meeting

Aleema Khan later told reporters that being denied a meeting was contempt of court ISLAMABAD: Sisters of former prime minister Imran Khan and the K-P Chief Minister Sohail Afridi were once again denied a meeting with the PTI founder at Adiala jail on Tuesday. Aleema Khan later told reporters that being denied a meeting was…

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Gold up Rs4,100 on global tensions

KARACHI: Gold prices in Pakistan rose sharply on Tuesday despite weakness in the international bullion market, as geopolitical tensions surrounding Iran and concerns over rising global inflation continued to drive uncertainty in commodity markets. In the local market, the price of gold per tola increased by Rs4,100 to settle at Rs492,462, according to rates issued…

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Senate spars over rising terror attacks in K-P

Senator Rehman criticised ‘the government’s indifference’ to the worsening law and order situation in K-P ISLAMABAD: The Senate on Tuesday witnessed a heated exchange between the treasury and opposition benches over the escalating security situation in Khyber-Pakhtunkhwa, as JUI-F Senator Attaur Rehman questioned whether the province had effectively been “handed over to terrorists”. Taking the…

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NDMA issues alert for severe weather

Directs provincial and district authorities to remain on high alert and ensure emergency preparedness measures ISLAMABAD: The National Disaster Management Authority on Tuesday issued a detailed weather outlook for May 12 to 17, warning of widespread rain, thunderstorms, hailstorms, flash floods and landslides in several parts of the country. It directed provincial and district authorities…

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PSX ends lower amid choppy trading

KARACHI: The Pakistan Stock Exchange (PSX) on Tuesday witnessed a mixed yet largely negative session as investors remained cautious amid geopolitical uncertainty surrounding US-Iran peace negotiations. After commencing trading on a firm footing, the benchmark KSE-100 index moved higher in early trade as renewed buying interest pushed the market to the intra-day high of 171,571.56…

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