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Fitch assigns Pakistan’s proposed dollar bond ‘B-‘ rating

KARACHI: Fitch Ratings has assigned a ‘B-‘ rating to Pakistan’s proposed U.S. dollar-denominated bond, with a Recovery Rating of ‘RR4,’ the ratings agency announced. Pakistan plans to use proceeds from the bond for general budgetary and sovereign financing purposes, according to Fitch. The bond rating is aligned with Pakistan’s Long-Term Foreign-Currency Issuer Default Rating, while ... Read more

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FBR collects Rs1.722 trillion in first two months of fiscal year surpassing target

ISLAMABAD: Pakistan’s Federal Board of Revenue collected Rs 1.722 trillion in taxes during July and August, the first two months of the current fiscal year, exceeding its target of Rs 1.710 trillion by Rs 12 billion, according to FBR sources. The result came despite slowing revenue growth and a decline in income tax receipts. A ... Read more

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Misbah-ul-Haq resigns from Pakistan selection committee

LAHORE: Former Pakistan captain Misbah-ul-Haq has decided to resign from the Pakistan Cricket Board’s selection committee, sources close to the former cricketer said Tuesday. The sources said Misbah has informed the PCB of his decision and will serve a notice period before formally stepping down from the role. The development comes a day after the ... Read more

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Shehbaz Sharif warns against weaponizing water as Pakistan takes SCO chairmanship

BISHKEK: Prime Minister Shehbaz Sharif warned Tuesday against using water as a political weapon, telling fellow leaders at the Shanghai Cooperation Organisation summit that water “must never be weaponised or used as an instrument of coercion.” Sharif made the remarks while addressing the SCO’s Council of Heads of State summit in Bishkek, shortly after Pakistan ... Read more

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Hague tribunal orders India to suspend Indus River projects, uphold treaty with Pakistan

THE HAGUE: The Permanent Court of Arbitration has ordered India to uphold the Indus Waters Treaty with Pakistan and suspend work on its hydroelectric projects, a major legal victory for Islamabad in the dispute over the agreement. The Hague-based tribunal issued the award on the status of the treaty and interim measures concerning India’s Ratle ... Read more

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Supreme court rejects early hearing in PTI founder’s hospital case

Dr. Uzma Khan sought an urgent hearing of her contempt petition over the government’s decision to transfer the PTI founder to PIMS instead of Shifa International Hospital.

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