Pakistan Financial News

Pakistan has reneged on various international agreements that include those relating to good governance, human rights and labour rights, the European Union's (EU) 10-year preferential trade agreement, GSP Plus, may not be extended, according to the Insideover. As envisaged by the Generalised Scheme of Preferences (GSP) scheme, the country has also failed to bring about sustained development and poverty reduction in Pakistan. In the year 2020, 28 per cent of Pakistan's total exports to the EU were duty-free thanks to its GSP Plus status, and 78 per cent of these exports went to the EU.

Pakistan after the Partition, suddenly came to form nearly one-third of the city's population. From Shahjahanabad of Mughal influence, Delhi became a city of Punjabis. Brij Krishnan Chandiwala, a noted Congressman, once wrote to Jawaharlal Nehru about the growing Punjabi population in New Delhi after the Partition, and his concern regarding these outsiders outnumbering the natives of the city, mentions architect and urban designer Prerna Chatterjee in a research paper. “The people of Delhi are living a life of helplessness… They have on their own wiped out their exclusive identity forever… The Delhi residents have become strangers in their own house,” Chandiwala wrote. Nehru wrote back: “Some of the complaints you make are the unfortunate consequences of the Partition…. But Delhi has also become a cosmopolitan city with a large number of foreigners here…” Chandiwalla reacted to this statement, considering the uncertain future these foreign intermixes may call for: “… In this city everyone who resides has come from somewhere else. And over the years they became part of this city. I believe even these people (Punjabi refugees) will one day start identifying their selves as belonging to the city.” Punjabi refugees from Pakistan not only ended up identifying themselves with Delhi but also made Delhi identify with them. The names of many colonies in Delhi such as Kohat Enclave, Mianwali Nagar and Gujranwala Town bear Pakistani imprint, the names of their birthplaces the refugees brought with them. More than Delhi shaping them, they shaped Delhi, because much of the Delhi you notice today is the result of the sweat and spirit of refugee entrepreneurs.

Sunny Deol has made a triumphant return as his beloved character Tara Singh in "Gadar 2," collecting a staggering Rs 40.10 crore on its debut day, announced the producers on Saturday. This film, directed by Anil Sharma, who also directed the original «Gadar: Ek Prem Katha» in 2001, hit the big screens on Friday.

US State Department spokesperson Matthew Miller during a recent briefing has piqued interest in the question of the purported leak's provenance. US-based news outlet The Intercept, which earlier this week reproduced what it claimed was the cipher in question, said in its report that the document was provided to it by «an anonymous source in the Pakistani military who said that they had no ties to Imran Khan or Khan's party».

MiG-21 fighter jets at the base to tackle threats from both the Pakistani and Chinese front, news agency ANI has stated The Tridents squadron, also known as the ‘Defender of the North’ has replaced the MiG-21 squadron at the Srinagar air base which has traditionally been responsible for taking care of the threat from border nations. The MiG-29s were moved to the Srinagar air base in January this year and have flown extensively in the Kashmir valley along with the Ladakh sector where they would be one of the first to respond in case of any air space violation attempts by the Chinese.

Kristine Harila has denied the accusation that she and her team left an injured porter to die and walked over him in a bid to secure the world record for scaling all mountains above the height of 8,000 feet in the shortest time, according to reports. Porter Mohmmad Hassan reportedly fell off a ledge while scaling K2, the second-highest summit of the world. A video posted on the social media platform shows Hassan lying on the ground and many people walking over him. Denying the allegation that she left Hassan to die, Kristine Harila said that the porter was a member of another team that walked away. She said that her team tried to fasten a rope around Hassan and give him oxygen support as he was hanging upside down. She added further that her team was trying to help the porter when an avalanche went off around the corner She also said that after she ensured the safety of her team, she moved on thinking that more help was coming for Hassan. Harila also said that when she came back, she found that the Pakistani porter had died. She added that no one in her team was in a condition to carry the body back to the base camp. The Norwegian mountaineer's reply came when Austrian climbers Wilhelm Steindl and Philip Flamig posted pictures to show how people walked over the dying Hassan. The duo also said that when they saw people walking over Hassan, they were shocked and they cried. They said that one person was trying to help the Pakistani porter, there was no rescue operation and people were simply walking over him to reach the summit in time so that they could make a record. But Kristine Harila said that no one was to blame for this tragic incident.

PTI, the central bank governor batted for an "expeditious completion" of quota review at the IMF in order to help distressed countries better. Shaktikanta Das made the pitch while addressing a seminar on the global economy organized by the Ministry of Finance and the Reserve Bank of India (RBI) in Mumbai. "A bigger and stronger IMF that is capable of managing the levels of country risks assumes crucial importance," Das said.

Below are stories of a few of such industrious and brave people who came over from Pakistan during the Partition and built successful businesses from scratch.Dharampal Gulati Mahashay Dharampal Gulati, the king of spices who built MDH, India's leading spice brand, was born in Sialkot, Pakistan, in 1923, and moved to India with his family during the Partition. The old man with a turban and a moustache, who has adorned commercials and packs of MDH spices for decades, became an icon of success in modern India.

Karachi Bakery. Founded in 1953, this bakery sits at the heart of Moazzam Jahi Market of Hyderabad. It sees thousands of customers at its doors every day who come to savour the delicacies brought by the businessman from Sindh, Khanchand Ramnani.

India for their use, a media report said on Friday. The Drug Regulatory Authority of Pakistan (DRAP) said on Thursday that there was no restriction on hospitals or the common man on importing vital medicines (anti-cancer drugs and vaccines) from India for their own use under the Import Policy Order 2022 after obtaining no objection certificate (NOC) from the authority, The News International newspaper reported.

Shehbaz Sharif has said that his brother and former premier Nawaz Sharif will return to Pakistan next month to face his pending court cases and lead the party's campaign for the general election. Nawaz Sharif, 73, has been living in self-imposed exile in the UK since November 2019. He was convicted in the Al-Azizia Mills and Avenfield corruption cases in 2018.

Mint takes a look at the situation in the crisis-hit country, including the election and when it will take place. • Last week, Sharif announced that the National Assembly would be dissolved on Wednesday. According to established procedures, a caretaker administration will take over the reins of government during the election campaign.

IMF) has sought an explanation from the Pakistan government for not imposing a tax on big shops measuring 1,000 square feet, ARY News reported. ARY News is a Pakistnews channel. Pakistan's Federal Board of Revenue (FBR) chairman confirmed that the IMF sought an explanation for not imposing a tax on big shops.

The Intercept. During the meeting, the Pakistani ambassador to the United States and two State Department officials have drawn tremendous attention, debate, and rumors in Pakistan over the past year and a half. One month after the meeting, a no-confidence motion against Imran Khan's leadership was held in Parliament.

India beat arch-rivals Pakistan by a margin of 4-0 in their final round-robin league match to enter the semifinals of the Asian Champions Trophy hockey tournament on an unbeaten note at Mayor Radhakrishnan Hockey Stadium, in Chennai on Wednesday. Akashdeep Singh scored the final goal for India at 55th minute of the game through a field play. Caption Harmanpreet Singh converted two penalty corners (15th, 23rd minutes), while Jugraj Singh (36th) netted from another set piece.

Hambantota port tops this list of eight international ports where China is most likely to land its second overseas base. China built a full-fledged naval base at Djibouti in the Horn of Africa in 2017.

Tehreek-e-Insaf (PTI) chief said he does not want to remain in a cell that is infested with flies during the day and insects at night, reported India Today. The Pakistan Tehreek-e-Insaf (PTI) party Monday petitioned Islamabad High Court to shift the former prime minister from the Attock jail in Punjab to high-security Adiala prison in Rawalpindi.

Union Home Minister Amit Shah on Wednesday ruled out any dialogue with Pakistan as well as the Hurriyat Conference, but said the government can hold talks with the youth of the Kashmir valley. Intervening in the debate on the no-confidence motion in Lok Sabha, Shah also said that the now-scrapped Article 370 was the result of the alleged wrong policy of the then prime minister Jawaharlal Nehru.

Pakistan's jailed former prime minister Imran Khan's bid to get his conviction suspended in a corruption case did not succeed on Wednesday as the Islamabad High Court adjourned the hearing but assured him that his case would be decided in four to five days. Khan, 70, was sentenced to three years in prison by an Islamabad trial court on Saturday in the Toshakhana corruption case in which he is accused of profiting from selling expensive state gifts when he was in power.

Shehbaz Sharif said on Wednesday that his government had to bear the burden of the past regime's negligence and failures during its 16-month rule as he accused Imran Khan's government of badly damaging Pakistan's relations with friendly countries. The prime minister, who led a 13-party coalition, a first in the government, termed his 16-month-long tenure as the «most difficult test of my life».

Ravichandran Ashwin, the world's number one-ranked test bowler in the current ICC rankings, is not only one of the finest cricketers across the world, but he is also a keen observer. Every now and then, Ashwin enlightens his fans and cricket pundits with his different perspective. With the World Cup 2023 just two months away, Ashwin shared his views on the marquee event and said that it is a well-planned strategy of the opposition teams when they say that India is the favorite team to win the cup, but actually they deliberately do it to put pressure on the home team.