Tag: United Arab Emirates
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Overseas remittances to Pakistan soar to $2.4 billion
The State Bank of Pakistan (SBP) revealed that the inflow of overseas workers’ remittances reached $2.4 billion in December 2023, marking a notable 5.4 per cent increase from the previous month’s $2.25 billion, according to data released on Wednesday.
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Pakistan and UAE forge multi-billion dollar partnerships for economic cooperation
According to the press release issued by the Prime Minister’s office, Caretaker Prime Minister Anwaar-ul-Haq Kakar and the President of the UAE Sheikh Mohammed bin Zayed Al Nahyan witnessed the signing of MoUs between Pakistan and UAE.
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Lahore High Court gave Pervez Musharraf relief which he didn’t even ask for
The Supreme Court of Pakistan has questioned the Lahore High Court’s (LHC) decision to overturn the death sentence of former military dictator Pervez Musharraf. The initial death sentence was imposed by a special court in December 2019 on charges of high treason. The Chief Justice of Pakistan, Qazi Faez Isa, leading a four-judge bench, expressed…
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SBP reports $112 million increase in workers’ remittances
In September 2023, Pakistan experienced a notable surge in workers’ remittances, marking a 5.3 per cent increase compared to August 2023.
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Govt attributes UAE’s fresh meat export ban to faulty refrigeration systems in containers
The Trade Development Authority of Pakistan (TDAP) has attributed the United Arab Emirates’ (UAE) restriction on fresh chilled meat exports from Pakistan to issues with inefficient or non-functional refrigeration systems.
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CAA gathers global players: Meeting in Dubai to discuss Islamabad airport outsourcing
The Civil Aviation Authority (CAA) has convened a significant meeting in Dubai to address matters pertaining to the outsourcing of Islamabad airport.
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IMF demands approval for subsidies as Pakistan struggles to secure tranche
Pakistan has been negotiating an agreement with the International Monetary Fund (IMF) since January 2023. The IMF has specified that Pakistan must receive prior approval before providing any additional subsidies. Negotiations have hit a snag over a plan announced by Prime Minister Shehbaz Sharif in March to charge wealthy fuel consumers more to subsidise prices…
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Pakistan to receive written guarantee from UAE for $1 billion loan
Pakistan is making progress towards securing a loan from the International Monetary Fund (IMF) with a $1 billion financing pledge from the United Arab Emirates (UAE) expected this week. Sources suggest that the UAE will provide written confirmation of the financing to the IMF through the Finance Secretary during the current annual meeting in Washington.…
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US Ambassador assures Pakistan of continued assistance for IMF bailout programme
On Thursday, US Ambassador to Pakistan Donald Blome reassured Finance Minister Ishaq Dar that Washington would continue to assist Islamabad in unlocking a long-stalled International Monetary Fund (IMF) bailout. This bailout is intended to help the liquidity-challenged country’s economy avoid imminent default. The assurance was given during a meeting between the finance minister and the…
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General Musharraf laid to rest in Karachi
The funeral prayer of former President General (retd) Pervez Musharraf was performed in Malir Cantt, Karachi, after which he was laid to rest with full military honours. Former Army Chief General (retd) Qamar Javed Bajwa, and Gen (R) Ashfaq Parvez Kayani attended the prayer, among others. On February 5, Musharraf passed away in Dubai. Gen…