SBP receives $2 billion Saudi credit

State Bank of Pakistan. Photo: File ISLAMABAD: Pakistan has received a $2 billion financial inflow from Saudi Arabia, offering timely relief to its foreign exchange reserves just as the country prepares to repay $3.5 billion to the United Arab Emirates (UAE) this month, officials confirmed on Thursday. The State Bank of Pakistan (SBP) verified the…

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Nawaz-led body to screen G-B, AJK hopefuls

. Former prime minister Nawaz Sharif. Photo: Screen grab LAHORE: The PML-N has constituted parliamentary boards for the upcoming elections in G-B and AJK, assigning them role in selecting candidates. The boards will operate under the leadership of party president Nawaz Sharif. The parliamentary boards will be authorised to finalise candidates contesting the elections and…

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Gas pipeline explosion in Haripur leaves eight dead

Deceased include women and children trapped in fire at gas pipeline in Hattar Industrial Estate At least eight members of a household were killed, and five others were injured after a fire from an explosion in a gas pipeline in Haripur in Khyber-Pakhtunkhwa’s Hazara division, officials said on Thursday. The blaze engulfed nearby residential settlements…

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Saudi generosity

. Riyadh has once again rescued Islamabad’s fragile balance sheet by doling out an additional $3 billion. This magnanimity has come at a time when Pakistan is facing a severe crunch as it is obliged to pay back $3.5 billion to the UAE which had refused to roll over the same. This hole in reserves…

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Pakistan, UK launch initiative to strengthen geoscientific capacity

British HC Jane Marriott says Pakistan’s geological potential requires trustworthy data collated via modern methods Petroleum Minister Ali Pervaiz Malik, along with British High Commissioner to Pakistan Jane Marriott, on Thursday launched a capacity-building initiative aimed at strengthening the country’s geoscientific capabilities and supporting the development of the mineral sector. The programme was formally inaugurated at the…

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