Tag: Pakistan

Imran, Bushra Bibi face another case of forgery

Home News

Imran Khan could be poisoned in Attock jail, says Bushra Bibi

August 19, 2023

New Delhi: Former Pakistan Prime Minister Imran Khan's wife Bushra Bibi has voiced concerns about her incarcerated husband's security and ...

International

Pakistan EC calls delimitation vital for true representation in Parliament, defends election delay

August 19, 2023

Islamabad: Pakistan's top electoral body has defended its move to postpone the polls beyond the stipulated 90-day period, saying voters ...

International

Imran Khan booked under Official Secrets Act in cipher case: Report

August 18, 2023

Islamabad: In yet another blow to Imran Khan, the jailed former prime minister of Pakistan has been booked under the ...

Home News

Pakistan to seek friendship with all: Caretaker Foreign Minister Jilani

August 18, 2023

Islamabad: Pakistan's newly appointed caretaker Foreign Minister Jalil Abbas Jilani has said he would pursue close relationships with all major ...

Pakistan caretaker PM Anwaarul Haq Kakar

International

Interim Pakistan PM Anwaarul Haq Kakar’s 18-member Cabinet takes oath

August 17, 2023

Islamabad: An 18-member Cabinet of Pakistan's newly appointed caretaker Prime Minister Anwaarul Haq Kakar took oath Thursday to run the ...

International

135 arrested, probe ordered in attacks on churches & homes of Christians in Pakistan

August 17, 2023

Lahore: Pakistani authorities have arrested 135 people in connection with the unprecedented mob attack on 21 churches in Punjab province ...

National

Maharashtra: Man held for shouting pro-Pakistan slogans in Nashik

August 17, 2023

Nashik: A 25-year-old man from Maharashtra's Nashik district has been arrested for raising pro-Pakistan slogans during a programme on the ...

Smuggling of US dollars to Afghanistan hurting Pakistan's economy Karachi: The Pakistani currency is under pressure owing to the ongoing political unrest in the country and the smuggling of US dollars to Afghanistan, media reports said on Tuesday. "Pakistan is currently dealing with problems on several fronts, the political crisis being the first and biggest one. The dollar crisis is also connected with it," Malik Bostan, the Chairman of the Exchange Companies Association of Pakistan (ECAP), said at a news conference, The News reported. About $2 billion goes to Afghanistan from Pakistan in the form of official and unofficial trade, misuse of Afghan transit trade, smuggling and through the borders, claimed Bostan, adding that these factors are burdening Pakistan's foreign exchange reserves. Currently, Pakistan's economy is suffering irreparable harm because of the Afghan transit trade, which has grown significantly. A significant portion of the dollars travelling from Pakistan to Afghanistan passes through the Afghan transit trade, and both Afghan and Pakistani traders are involved in this anti-national activity, he added, The News reported. To lower the import bill, the government imposed high duties on many luxury goods. "Our traders and importers thought that why should they pay a 200 per cent duty to the Pakistani government," Bostan said, adding that they operate a global network, accepting payments through hundi/hawala in Dubai, London, Europe, America, Saudi Arabia, and everywhere else. "They bring their items here in the name of Afghan transit, travelling from our port to Afghanistan and then returning to Pakistan in small trucks. Numerous importers from Pakistan who participate in this atrocious practice not only fail to pay import duties, which costs the national exchequer billions of rupees, but also prevent dollars from entering the country," he said. When the Afghan Taliban established a transition government in August 2021, the Pakistani rupee was trading at 155, the country's foreign exchange reserves were $22 billion, and its import bill was $4.5 billion. According to Bostan, today the rupee has fallen to almost 225 in the interbank market and 235 per dollar in the free market, The News reported. He claimed that every month, about $3 billion in remittances were sent to Pakistan. The remittance flows have now decreased to $2 billion. "Where does this monthly $1 billion go? Because we are paying remittances at 225 rupees for every dollar, this $1 billion per month has become the sight of Afghan transit. The hawala/hundi operators are giving those 270 for every dollar," Bostan said. IANS Pakistan, Afghanistan, economy

International

Pakistan Rupee continues free fall, depreciates 1.16 per cent against US dollar in interbank & open market

August 16, 2023

Karachi: The Pakistani currency depreciated by 1.16 per cent against the US dollar in both interbank and open markets, continuing ...

International

Churches vandalised in Pakistan over blasphemy allegations

August 16, 2023

Lahore: Several churches were vandalised in Pakistan's Punjab province Wednesday over blasphemy allegations, officials said. The Salvation Army Church, United ...

Sports

Wahab Riaz announces international retirement to focus on franchise cricket

August 16, 2023

Karachi: Pakistan fast bowler Wahab Riaz Wednesday announced his retirement from international cricket to focus on playing T20 leagues around ...

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Editorial

More Campaigns

July 29, 2026

A debate is spreading across India. The Cockroach students movement recently succeeded within a few days at forcing change that...

July 28, 2026

Better late than never. Two days after the resignation of Union Education Minister Dharmendra Pradhan, the Supreme Court has stated...

July 27, 2026

A quote from Milan Kundera goes thus: The final stage of a cultural movement is satire. When the people laugh...

July 26, 2026

By Aakar Patel Many are puzzled by the size of the current protests and the speed with which they sprang...

Tag: Pakistan

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