Skip to content
Search

Latest Stories

Reduce dependency on China, IMF asks Pakistan

THE IMF has urged Pakistan to reduce reliance on trade and commerce ties with China.

The global agency said that the country should ink more Free Trade Agreements (FTA) with other countries.


An IMF  mission, led by Ernesto Ramirez Rigo, visited Islamabad during February 3-13, to initiate discussions on the second review of the authorities’ economic reform program supported under the Extended Fund Facility (EFF) arrangement.

IMF also demanded to reduce the revenue-expenditure gap and fix the cash bleeding energy sector.

The Pakistan Ministry of Finance and other officials claimed in their background discussions that there was no “deadlock” and the staff-level agreement would be finalized anytime soon.

The delegation came for the second review of Pakis­tan’s performance under the $6 billion bailout package signed in July 2019.

The completion of the review against a significantly modified 39-month programme in November 2019 would determine if the government would secure disbursement in March of another tranche of about $450 million direly needed to build market confidence and foreign exchange reserves.

The review is taking place at a time the government has suffered a revenue shortfall of about $2 billion in the first seven months of the current fiscal against the target of $17 billion.

More For You

Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
Mandelson-Getty

Starmer dismissed Mandelson on Thursday after reading emails published by Bloomberg in which Mandelson defended Jeffrey Epstein following his 2008 conviction. (Photo: Getty Images)

Getty Images

Minister says Mandelson should never have been appointed

A CABINET minister has said Peter Mandelson should not have been made UK ambassador to the US, as criticism mounted over prime minister Keir Starmer’s judgment in appointing him.

Douglas Alexander, the Scotland secretary, told the BBC that Mandelson’s appointment was seen as “high-risk, high-reward” but that newly revealed emails changed the situation.

Keep ReadingShow less
Shivani Raja MP leads fight to save Leicester Diwali celebrations

Shivani Raja MP

Shivani Raja MP leads fight to save Leicester Diwali celebrations

TWO Conservative MPs have launched a petition to stop Leicester City Council cutting back this year's Diwali celebrations.

Shivani Raja, MP for Leicester East, and Neil O'Brien, who represents nearby Harborough, Oadby and Wigston, started the Change.org petition on Wednesday (10) after the council announced plans to remove key elements from the October 20 event.

Keep ReadingShow less
Indian American hotel employee beheaded in Dallas

Chandra Nagamallaiah (R) was stabbed and beheaded on duty; Yordanis Cobos-Martinez was arrested and charged for the killing.

Indian American hotel employee beheaded in Dallas

A STAFF MEMBER at Downtown Suites Dallas, US, was killed on Wednesday (10) morning. Chandra Nagamallaiah, 50, was stabbed and beheaded on duty in front of his wife and son, according to reports.

Yordanis Cobos-Martinez, 37, was arrested and charged in the killing, which reportedly stemmed from an argument over a broken washing machine, media reports said, citing the Dallas Police Department.

Keep ReadingShow less
Deadly Pakistan floods force over two million to flee their homes

Residents sit in a rescue boat as they evacuate following monsoon rains and rising water levels in the Chenab River, in Basti Khan Bela, on the outskirts of Jalalpur Pirwala, Punjab province, Pakistan, September 10, 2025. REUTERS/Quratulain Asim

Deadly Pakistan floods force over two million to flee their homes

OVER two million people have been forced to leave their homes as devastating floods continue to sweep across Pakistan's eastern regions, authorities announced.

The worst-hit area is Punjab province, where more than two million residents have been evacuated. An additional 150,000 people have fled Sindh province, according to national disaster management chief Inam Haider Malik, who warned that the "number may rise over the coming days".

Keep ReadingShow less