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Pakistan Army wants cleanup before polls

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Pakistan Observer report by Afzal Bajwa

 

Asserting as the only unwavering institution amid political transition, Pakistan army has urged upon political leader-ship to go for law and order be-sides accountability before general elections, well placed sources told Pakistan Observer.

According to the sources, the armed forces’ top brass believes that politically elected functionaries must be held responsible for the misgivings, lacking, and blatant failures on their part. “The army does not want to share the responsibility of the outgoing government’s miserable failure in the counter terror measures,” the sources added.Read More »Pakistan Army wants cleanup before polls

Tehreek-e-Insaf’s nine point industry policy

Party vows to restore confidence of investors; create 10 million new jobs for youth

The Pakistan Tehreek-e-Insaf (PTI) on Monday unveiled its nine-point industrial policy, vowing to revive the industry by restoring confidence of investors and creating around 10 million new jobs for the youth.

“Industry in Pakistan is in dire straits due to a crippling energy crisis, lack of access to finance and shortage of skilled workforce. The PTI’s industrial policy aims at building solid foundations for the revival of industry by creating 10 million new jobs for the youth over the next five years and making the sector more viable and competitive in the international markets,” said Asad Umar while unveiling the party’s industrial policy.Read More »Tehreek-e-Insaf’s nine point industry policy

World’s tallest building to be built in Karachi

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* Malik Riaz signs agreement with Abu Dhabi Group for $45 billion construction projects

ABU DHABI: Real estate magnate Malik Riaz Hussain has signed an agreement with Chairman of the Abu Dhabi Group, Union National Bank and United Bank Limited Nahyan bin Mubarak Al Nahyan, under which $45 billion will be invested in Pakistan for various construction projects, including contraction of the world’s tallest building in Karachi.

It would be the biggest and historical investment in Pakistan. The Abu Dhabi Group has previously made huge and successful investments in country with the establishment of Bank Alfalah, Warid Telecom and Wateen Telecom. Out of the total investment, $10 billion will be invested in Islamabad and Lahore, whereas $35 billion investment would be made in Sindh. Read More »World’s tallest building to be built in Karachi

Pakistan rupee sinks below 100 mark against dollar

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KARACHI: The Pakistani rupee on Monday sank to an all-time low against the US dollar over forex reserve fears as the country repaid $146 million to the International Monetary Fund.

The rupee fell to 100.1 to the greenback in trading in Karachi, down from 99.30 on the open market Friday, and has now lost 39 percent of its value against the US currency since March 2008.

“We have traded the dollar at Rs 100.1, although there is a slight difference on the open market,” said currency dealer Mohammad Arshad.

The official inter-bank rate for the dollar is Rs 98, but Mohammad Sohail, who heads brokerage firm Topline Securities, confirmed it had crossed 100 on the open market.

Pakistan had a $10.7 billion IMF loan until September, but had drawn only about a third of it. The government has indicated it would not seek a new loan.Read More »Pakistan rupee sinks below 100 mark against dollar

ISLAMABAD: Fulbright scholarships open for 2014

The Fulbright Programme in Pakistan has started accepting applications for 2014.

The US government’s flagship scholarship programme awards full scholarships to deserving Pakistani students who wish to complete their Masters or PhD, in a field of their choice, in universities across the United States. These scholarships cover tuition fee, textbooks, airfare, a stipend and health insurance.Read More »ISLAMABAD: Fulbright scholarships open for 2014

Pakistan’s Debt Policy Statement 2012-13

Total external debt recorded at $66.2bn till Q1 FY13 

ISLAMABAD: The total external debt has been recorded at $63.8 billion and after including foreign exchange liabilities of $2.4 billion the total external debt and liabilities have been estimated at $66.2 billion till first quarter of fiscal year 2012-13.

This was revealed in the Debt Policy Statement 2012-13 released here on Monday.
Read More »Pakistan’s Debt Policy Statement 2012-13