Pakistan Financial News

Lucknow, Jaipur and Thiruvananthapuram as their headquarters. The Department of Military Affairs (DMA) under Chief of Defence Staff Gen Anil Chauhan, who is responsible for raising the theatre commands, is now focusing their energy towards implementing over 150 points to enhance integration among the three services and make ready for the multi-domain warfare of the future. On July 2, Prime Minister Modi had stated in Parliament that the creation of theatre commands was on track and modernisation of armed forces was in full swing.

Pakistan's Foreign Ministry says authorities will expel hundreds of thousands more Afghans who have been living in Pakistan for years, the latest in a monthslong government clampdown on undocumented migrants

Pakistan has reached an agreement for a new $7 billion loan deal with the International Monetary Fund

PTI quoted an ICC board member as saying.Pakistan will host the ICC event from 19 February to 9 March, while 10 March has been kept as a reserve day for the final ICC event.With details pouring in, India has been placed in Group A with Pakistan, Bangladesh, and New Zealand, while Australia, South Africa, England, and Afghanistan are in Group B.Earlier, PCB chairman Mohsin Naqvi – invited to watch the T20 World Cup final in Barbados – had submitted a 15-match schedule with all of India's games kept in Lahore for security and logistical reasons, added the PTI report."The PCB has submitted the draft of the 15-match ICC Champions Trophy. Seven games in Lahore, three in Karachi and five in Rawalpindi," PTI's ICC source said."The opening match will be held in Karachi with two semifinals in Karachi and Rawalpindi, final in Lahore.

Pakistan Finance Minister Muhammad Aurangzeb has warned that the cash-strapped country will continue to seek IMF bailouts if it fails to boost tax revenue, according to a media report on Monday. The Pakistan Muslim League-Nawaz (PML-N) leader in an interview with the the UK-based Financial Times newspaper said that he was «relatively confident» of reaching a staff-level agreement with the Washington-based global lender this month for an estimated loan of USD 6-8 billion. Aurangzeb, however, said, «It will not be our last fund programme if we don't bring our tax revenues up.» Last month, the federal government passed the tax-laden Rs 18,877 billion budget for the fiscal year 2024-25, amidst protests from the Opposition which labelled it as an International Monetary Fund-driven document that was harmful to the public.

Mint examines this question and more. The Shanghai Cooperation Organisation (SCO) was formed in 2001. It evolved from an earlier avatar known as the Shanghai Five, comprising Russia, Kazakhstan, Kyrgyzstan, Tajikistan and China.

Women's Asia Cup T20, which is set to take place in Dambulla, Sri Lanka from July 19. Harmanpreet Kaur will once again lead Team India in the tournament, with star opener Smriti Mandhana playing the role of her deputy. The ninth edition of the Women's Asia Cup will be played from 19 to 28 July in Sri Lanka in the T20 format.

NDTV quoted Latif as saying on GTV Sports.Apart from this, Latif asked Babar and Rizwan to leave the team for good or change their batting approach. He even cited examples of T20 World Cup champions from India – Virat Kohli and Rohit Sharma – who announced their retirement from the format after the final match on 20 June."I would give examples of Rohit Sharma and Virat Kohli to show how they changed themselves.

Turkmenistan and Iran have signed a contract for the delivery of 10 billion cubic meters a year of Turkmen gas that Iran will then ship to Iraq

power tariff through circulation, Pakistan-based ARY News reported, citing sources. According to details, the federal cabinet has approved the rise in electricity tariff through a circulation summary, according to the source. The sources said the decision will be sent to the National Electric Power Regulatory Authority (NEPRA) for uniform tariff implementation, according to ARY News report. The Power Division will register an application with NEPRA regarding the tariff increase. NEPRA has taken this decision for the fiscal year 2024-2025, with the implementation set to start on July 1, 2024. The average basic electricity tariff has been approved to be raised from PKR 29.78 to PKR 35.50.

Champions Trophy 2025, ANI reported citing sources on Thursday. The Board of Control for Cricket in India (BCCI) will ask ICC to host matches in hybrid mode in Dubai or Sri Lanka, sources said. The marquee tournament is scheduled from February 19 to March 9 with March 10 as Reserve Day.

Turkmenistan and Iran on Wednesday signed a contract for the delivery of 10 billion cubic meters a year of Turkmen gas that Iran will then ship on to Iraq. The deal was announced by Turkmenistan's foreign ministry, which did not state the monetary worth of the contract. The ministry's statement said Iranian companies will construct a new 125-kilometer (77-mile) pipeline to Iran to expand Turkmenistan's delivery capacity. The ministry said Turkmenistan plans to increase its gas supplies to Iran to 40 billion cubic meters a year.

T20 World Cup-winning skipper Rohit Sharma will continue to lead India in the ODI and Test formats BCCI secretary Jay Shah said on Sunday, exuding confidence that the country will win next year's Champions Trophy and World Test Championship under his captaincy. The 37-year-old Rohit, who became the third Indian captain after legendary Kapil Dev and Mahendra Singh Dhoni to win a global trophy, has announced his retirement from the T20 format. «The next stage is the WTC final and the Champions Trophy. I have full faith in Rohit Sharma's captaincy, that we will be the champions in both these tournaments,» secretary Shah said in a video message. The Champions Trophy, scheduled in Pakistan next year, will be held after eight years (since 2017 in UK), and even though the draft schedule has been submitted to the ICC, the BCCI hasn't yet given its green light to it.

India has successfully test-fired its first indigenous anti-radiation missile, the Rudram-1, developed by the Defence Research and Development Organisation (DRDO) for the Indian Air Force (IAF). This significant achievement underscores India's progress in developing advanced defense technologies crucial for modern warfare.

Experts are optimistic about the sector’s long-term prospects, given the substantial investment and demand anticipated in the coming years. “The focus on modernising and upgrading defence systems, along with geopolitical tensions with neighbouring countries like China and Pakistan, means that the defence expenditure will continue to grow,” says Abhinav Kapadia, Research Analyst, Asit C. Mehta Investment Intermediates. “The growth is not just momentary. The sector has significant potential for future growth. The large order books of companies and the government favouring import substitution provide a strong foundation for sustained growth,” says Nirav Karkera,Head of Research, Fisdom. According to the Nomura report, the sector is expected to present an ordering opportunity worth $138 billion over the fiscal years 2024 and 2032. The report also classifies Hindustan Aeronautics Limited and Bharat Electronics as strong buys with an upside potential of 28% and 32%, respectively.

Sports Tak on 6 July, the Men in Blue will not travel to Pakistan for the ICC Champions Trophy that will begin from 19 February to 9 March.“While the details of the tournament have not yet been discussed, it is highly unlikely that the Indian team will travel to Pakistan. Ultimately, the decision rests with the Indian government.

Iran's Chabahar Port not only holds «great value» to landlocked Central Asian states but also «de-risks» commerce between India and Eurasia, Prime Minister Narendra Modi said on Thursday. External Affairs Minister S Jaishankar, who is in Astana to attend the SCO Summit, delivered Modi's remarks at the extended format meeting of the Shanghai Cooperation Organisation (SCO) Council of Heads of State here in the Kazakh capital. He also said, «While standing resolute on challenges, it is equally important to actively and collaboratively explore avenues of progress. The current global debate is focused on creating new connectivity linkages that would better serve a rebalanced world.» «If this is to gather serious momentum, it requires the joint efforts of many. It must also be respectful of the sovereignty and territorial integrity of states and be built on the foundation of non-discriminatory trade and transit rights to neighbours.»

Imran Khan said on Friday that his party would take part in the official consultative meeting regarding a new operation against militants after a dramatic spike in the attacks by rebels against the security forces in recent months. Prime Minister Shehbaz Sharif last month announced the launch of 'Operation Azm-e-Istehkam' to stem the tide of militancy in the country. However, the idea of a new military offensive received a cold response from several political parties, including Khan's Pakistan Tehreek-e-Insaf (PTI). To blunt the criticism about the new operation and win broader support, the government has decided to take into confidence all political parties regarding the new military strategy and hold an All Parties Conference (APC) on the new operation against terrorists.

atmanirbharta. This would not only help them to pile on runs with bats Made in India, but it would also help put the spotlight on the travails of an industry that is on the brink. Wood from Salix alba caerulea, a species of willow tree that grows in Kashmir, Pakistan Occupied Kashmir and the UK, is used to make cricket bats.

Congress has expressed concern over the increasing terror strikes in J&K, especially in the Jammu region, causing both civilian and military casualty. Condemning the latest terrorist attack on the Army personnel in Kathua, the Opposition party said it is fully with the government for responding with effective action but also reminded the ruling establishment that merely making hollow speeches will not do. «This cowardly attack on our Army personnel is extremely condemnable. What is all the more a matter of concern is that this (Kathua incident) is the 5th attack in a month… As the Opposition, we want to draw your (government's) attention to these attacks. Whatever steps the government would take for the safety of the country, Congress is ready to extend support. These terrorists must be given a reply in their own language but at the same time, as Rahul Gandhi said the other day, the solution to these attacks is strict action, not hollow speeches,» said Congress spokesman Deepender Hooda on Tuesday. Speaking to media persons separately, AICC general secretary Sachin Pilot said: «The terrorist attacks are continuously increasing. In Parliament, the government claims the situation in J&K is normal. But if our soldiers are losing their lives in terrorist attacks, the government will have to give clarification.»

Pakistan government's efforts to reform its public sector enterprises (PSEs) have been marred by persistent challenges, as highlighted by recent fiscal data and international funding initiatives, Dawn reported. Despite a substantial loan from the Asian Development Bank (ADB) aimed at bolstering reforms, the cumulative debt of PSEs has soared to PKR 1.7 trillion, with an additional borrowing exceeding Rs 43 billion in the fiscal year 2024. Economic priorities underscore the urgency of privatising PSEs to alleviate the strain on the national budget, a crucial step also mandated for securing future loans from the International Monetary Fund (IMF). The allocation for PSEs in the 2024-25 budget saw a dramatic increase, reaching PKR 1.267 trillion, largely earmarked for subsidies and grants, marking a 104 per cent surge from the previous fiscal year.