Pakistan’s central bank expands local currency sukuk sales

By Bernardo Vizcaino UNDATED, Feb 8 : Pakistan’s central bank is expanding issuance of local currency Islamic bonds (sukuk), auctioning 100 billion rupees ($955 million) worth of three-year paper this week, a much-needed tool for the fast-growing Islamic banking sector. The central bank plans to offer another 100 billion rupees worth of sukuk in April, […]

To protect Chinese investment, Pakistan military leaves little to chance

By Syed Raza Hassan GWADAR, Pakistan, Feb 8 : A heavy police presence, guarded convoys, new checkpoints and troop reinforcements have turned parts of the southern port city of Gwadar into a fortress, as Pakistan’s powerful military seeks to protect billions of dollars of Chinese investment. Securing the planned 46 billion dollar economic corridor of […]

Director hopes Oscar-nominated film will help end Pakistan honour killings

By Syed Raza Hassan and Krista Mahr KARACHI/ISLAMABAD, Feb 8 : An Oscar-winning filmmaker hopes her latest Academy Award-nominated documentary will help bring tougher laws against honour killings in Pakistan, which account for the deaths of hundreds of women and men each year. The film, which follows the story of a young woman who survived […]

Pakistan shelves plan to privatise power firms, but approves new loan

By Mehreen Zahra-Malik ISLAMABAD, Feb 4 : Pakistan has shelved plans to privatise its power supply companies and will miss deadlines to sell other loss-making state firms, reneging on promises Islamabad had made to the IMF in return for a $6.7 billion bailout three years ago. Two government officials with direct knowledge of the situation […]

Pakistan shelves plan to privatise power firms, angering IMF

By Mehreen Zahra-Malik ISLAMABAD, Feb 4 : Pakistan has shelved plans to privatise its power supply companies and will miss deadlines to sell other loss-making state firms, reneging on promises Islamabad had made to the IMF in return for a $6.7 billion bailout three years ago. Two government officials with direct knowledge of the situation […]

Security officials, protesters clash during Pakistan strike

By Syed Raza Hassan KARACHI, Feb 2 : Pakistani security personnel today clashed with marchers protesting against government plans to privatise the ailing national airline, in a skirmish that a hospital official said killed at least two protesters and injured eight. Protesters said paramilitary forces fired after a confrontation as security forces tried to block […]