Saudi Arabia’s cabinet approved on Wednesday a decision to join the Shanghai Cooperation Organisation (SCO), as Riyadh builds a long-term partnership with China despite US security concerns. Saudi Arabia has approved a memorandum on granting the kingdom the status of a dialogue partner in the SCO, said Saudi Press Agency (SPA). The SCO is a political and security union of countries spanning
The European Union (EU) has removed Pakistan from its ‘list of high-risk third-countries’ that have strategic deficiencies in the Anti Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime. Foreign Minister Bilawal Bhutto-Zardari revealed this on Wednesday echoing a similar decision taken by the Financial Action Task Force (FATF) months ago when it removed the country from
Commodity traders claim sale of various food items used for preparing ration packs has remained highly subdued this Ramazan as compared to the last year due to skyrocketing prices and shrinking purchasing power of the people. There is a tradition that people prepare ration packets and distribute them among the needy especially during Ramazan. However, inflated electricity bills, gas tariff a
The government has asked the National Electric Power Regulatory Authority (Nepra) to increase K-Electric’s consumer tariff by up to Rs6.02 per unit under two past quarterly adjustments and allow its recovery from consumers in three months — April to June — to ensure national uniform tariff. The government has already notified an equivalent increase in tariff for consumers of ex-Wapda Discos. Fo
The government on Wednesday said to have achieved ‘progress’ in external financing from Saudi Arabia and the United Arab Emirates direly needed to reach a staff-level agreement (SLA) with International Monetary Fund (IMF) that has been in limbo since Feb 9. The statement came from Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha before a parliamentary panel on a day UAE’s ambassad