Govt vows to end circular debt in six years

[ ISLAMABAD: Minister for Power Division Awais Leghari said on Friday that circular debt would be completely eliminated within the next six years. He further said consumers would have to pay Rs3.23 per unit to retire the debt in the next five to six years. While addressing a press conference, he said circular debt had … Read more

PSX soars past 162,000 barrier

The Pakistan Stock Exchange (PSX) ended Friday's session with a spectacular rally as the benchmark KSE-100 index surged nearly 3,000 points to a historic high. The index settled above 162,250 after touching the intra-day peak of 162,422, the highest level in history. Bulls dominated the session from the opening bell, fueled by aggressive buying in … Read more

China warns against ‘Cold War mentality’

UNITED NATIONS: Chinese Premier Li Qiang warned Friday against a return to a “Cold War mentality” and defended multilateralism and free trade, in a veiled criticism of the United States from the United Nations. The Chinese premier made no explicit reference to US President Donald Trump as he addressed the UN General Assembly. But he … Read more

When it comes to rishtas, ‘Aunty knows best’

aunty rishtas photo illustration by anusha nasir

KARACHI: “You know we’re only looking in the US,” one sister said casually over tea. “Ammi keeps saying we should have Alina settled here, but I don’t want that.” The other nodded in agreement. “Then you should call Mrs. Zarmeen. Everyone says she’s the best for overseas rishtas. She knows all the families that are … Read more

PM holds out olive branch to India

UNITED NATIONS: Prime Minister Shehbaz Sharif on Friday, highlighting the human rights violations in Kashmir and Palestine and condemning terrorism, reiterated Pakistan’s commitment to peace and dialogue but vowed to resolutely defend the nation against any external aggression or India’s usurpation of water rights. The prime minister, in his 25-minute address at the 80th session … Read more

Debt burden triples in a decade

[ ISLAMABAD: Pakistan’s debt burden has reached alarming levels, with every citizen is now burdened with Rs318,252 debt compared to Rs90,047 a decade ago, according to a new report by the Economic Policy & Business Development (EPBD) — an independent think tank providing strategic advice to policy makers on the economic policies ecosystem. The report revealed … Read more

NHA asked to ensure financial discipline

ISLAMABAD: Federal Minister for Communications Abdul Aleem Khan on Friday directed the National Highway Authority (NHA) to ensure an integrated audit system, improve financial discipline and adopt fundamental changes aimed at transforming the organization into a profitable, self-sustaining institution with an annual revenue target of Rs 500 billion. Chairing a high-level meeting at the NHA … Read more