KARACHI: The Afghanistan-Pakistan transit trade saw a significant drop of 59% year-over-year in the fiscal year 2023-24, falling to $2.9 billion, according to Pakistani media reports. The decline is attributed to Pakistan’s stricter anti-smuggling measures and heightened import restrictions. Bilateral trade between the two countries also decreased by 12% during the same period, primarily due to a 40% reduction in Afghan goods imports, as reported by The Nation. Despite this overall decline, Pakistan’s exports to Afghanistan grew by 12% in the fiscal year, reaching $59.11 million in FY 2023-24. In the current fiscal year, 2024-25, exports have surged by 75%,…
Author: Sajjad Ali
Sajjad Ali
Sajjad Ali is ‘Online Web Editor of Khyber News. He is a journalist by profession and working in field for the last ten years. Previously he worked for national media organizations including ‘The Nation’ Daily Pakistan Today, Khyber News. He also worked in media development sector. He can be reached at sajjad.sovereign@gmail.com
Read More
KARACHI: Two Pakistani startups, NayaPay and DealCart, have been named in Forbes’ prestigious ‘Asia 100 to Watch 2024’ list, local media reported on Wednesday. DealCart, based in Karachi, operates an online grocery platform designed to serve Pakistan’s growing middle class. The startup has secured $4.5 million in pre-seed funding and allows customers to purchase a range of products, from snacks and fresh produce to household essentials. Additionally, DealCart helps small grocery stores expand their customer base. In July, the company raised approximately $3 million in a seed funding round led by Shorooq Partners from Abu Dhabi and Sturgeon Capital from…
The Pakistan Cricket Board (PCB) has announced that cricketers Abrar Ahmed and Kamran Ghulam have rejoined Pakistan’s national Test squad ahead of the second Test against Bangladesh. Both players were previously released to participate in matches against Bangladesh A and were not part of the squad for the first Test. Additionally, star fast bowler Shaheen Shah Afridi has returned to the Test squad after a brief absence to be with his family following the birth of his son. Fast bowler Aamir Jamal has also been recalled to the squad in Rawalpindi. Jamal was initially released from the first Test due…
A protest sit-in by the All Sindh Transport Association against the imposition of additional toll taxes in Hyderabad escalated into violence, resulting in clashes between protesters and police personnel. The confrontation began when the protesters, armed with stones and sticks, resisted the police’s attempts to control the situation. In the ensuing chaos, 13 police officers were injured, according to local authorities. The situation further deteriorated as the police responded with aerial firing and tear-gas shelling to disperse the agitated crowd. According to the senior superintendent of police (SSP), the violence erupted when protesters attacked the police who had approached them…
ISLAMABAD: A nationwide shutter-down strike has been initiated by the business community across Pakistan in protest against rising sales and advance taxes, inflated electricity bills, and the Federal Board of Revenue’s (FBR) fixed tax policy. The strike, which has led to a halt in business activities in various cities, reflects the traders’ demands for immediate relief from the government’s taxing policies and soaring utility costs. In Lahore, key commercial areas such as Shah Alam Market, Azam Market, and Urdu Bazaar remained closed as traders protested against the imposition of sales tax on stationery and other goods. The strike extended to…
WASHINGTON: The United States condemned the terrorist attacks in Pakistan’s Balochistan province and pledged support for Islamabad in its fight against terrorism. In a post on the social media platform X, formerly known as Twitter, the State Department’s Bureau of South and Central Asian Affairs stated, “The United States strongly condemns the multiple attacks in Pakistan’s Balochistan province, which claimed many lives. Any violence that disrupts peace and stability is indefensible. We stand with Pakistan in its fight against terrorism and extend our deepest condolences to those who lost loved ones.” Additionally, U.S. State Department spokesperson Matthew Miller emphasized in…
The final approval of Pakistan’s $7 billion bailout package from the International Monetary Fund (IMF) is still pending, as the country works to meet the stringent conditions set by the global financial institution. Sources within the Ministry of Finance revealed that the IMF Executive Board’s schedule, which extends through September 6, includes agendas for seven countries—such as Vietnam, Uganda, and Denmark—but does not yet list Pakistan. Officials suggest that a board meeting dedicated to Pakistan could be arranged soon, provided the country meets the necessary preconditions, especially the requirement to secure an additional $2 billion in external financing. The Finance…
Meta Platforms CEO Mark Zuckerberg disclosed that the Biden administration had pressured the company to “censor” COVID-19 content during the pandemic, referring to White House requests to remove misinformation about the virus and vaccines. In a letter dated August 26, Zuckerberg expressed regret to the U.S. House of Representatives Judiciary Committee for not speaking out about this pressure earlier. He also reflected on decisions made by his company, which owns Facebook, Instagram, and WhatsApp, regarding the removal of certain content. In July 2021, President Joe Biden, a Democrat, criticized social media platforms like Facebook, claiming they were “killing people” by…
ISLAMABAD: The Federal Cabinet has approved a substantial Rs20 billion allocation for Operation Azm-e-Istehkam in response to the recent escalation in terrorist attacks across the country. The decision was taken during a cabinet meeting chaired by Prime Minister Shehbaz Sharif, where the political, security, and economic challenges facing the nation were thoroughly discussed. The cabinet received a comprehensive briefing on the security situation, prompting the approval of the Rs20 billion funding for the anti-terrorism operation. This allocation had previously been endorsed by the Economic Coordination Committee (ECC). The cabinet’s decision follows a series of devastating terrorist attacks in Balochistan, which…
TEHRAN: Iran has issued a final warning to Pakistan, notifying that it will take the issue to the Paris Arbitration Court in September 2024 due to Pakistan’s failure to construct its portion of the pipeline for the Iran-Pakistan (IP) gas project within the extended 180-day deadline. The project, which has faced a decade-long delay since 2014 due to concerns over potential US sanctions, originally stemmed from a Gas Sales Purchase Agreement (GSPA) signed in 2009 under French law. The Paris-based Arbitration Court, designated to resolve disputes between the two nations, does not acknowledge US sanctions as a valid reason for…
