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ISLAMABAD: The International Monetary Fund (IMF) has warned in its report that $27 billion worth of Pakistan’s external debt will mature within two years, ARY News reported on Tuesday. The IMF in a new Regional Outlook Report Update on the Middle East, North Africa and Afghanistan disclosed the $27 billion external debt repayment figure. “Many countries have large foreign currency debt – some $27 billion – set to mature in the next two years, leaving them more exposed to slower growth prospects and financial market volatility,” said the IMF report. In a separate chart in the report, the $27 billion repayment figure has been shown against Pakistan, which is the highest repayment amount by any country in the region. The economic outlook forecast tangible decrease in the growth rate of Pakistan and Afghanistan. It also predict minimal economic growth in Gulf countries. The report said that the inflation in the region will sustain at above 11% level. The IMF report said that Pakista

LAHORE: An accountability court on Tuesday extended judicial remand of Pakistan Tehreek-i-Insaf (PTI) leader Aleem Khan until May 13 in the offshore companies and assets beyond means case. Jail officials produced the PTI leader in the court upon completion of his judicial remand under tight security. Duty Judge Jawadul Hassan heard the case as Judge Syed Najmul Hassan was on leave. During the hearing, the judge asked the NAB prosecutor to explain as to when the bureau will file a probe report saying the suspect is in jail but it has not filed a report yet. At this, the prosecutor replied many of the accused have been on the run due to which investigation couldn’t be completed. He sought more time to submit a report and file a reference against Aleem Khan. According to NAB, Aleem being the Secretary of Parkview Cooperative Housing Society, Member of the Provincial Assembly of Punjab and Minister for Information Technology held public office and during the period was involved in act

Sri Lankan officials said on Tuesday security forces were maintaining a high level of alert after intelligence reports that militants were planning fresh attacks before the start of the holy month of Ramazan. The head of the police ministerial security division had said in a letter to lawmakers and other officials that attacks were expected on Sunday or Monday by militants dressed in army uniform. There were no attacks on Sunday and Monday but security across Buddhist-majority Sri Lanka remains ramped up, with scores of suspected militants arrested since the April 21 attacks on hotels and churches that killed more than 250 people, including 42 foreign nationals. “Security will stay tight for several days because military and police are still tracking down suspects,” a senior police intelligence official said on Tuesday. Another government source told Reuters a document has been circulated among key security establishments instructing all police and security forces across the India

ISLAMABAD: National Accountability Bureau (NAB) team along with Magistrate Sukkur on Tuesday raided food warehouses in Larkana, ARY News reported. The raids were conducted on the directions of the NAB high-ups. During raid at Rehmatpur godown, the NAB team found 14,838 sacks of wheat were missing from 42,188 bags. “The missing of wheat bags caused loss of Rs 25million to national exchequer”, the officials said. In another raid at the Badah food warehouse, the wheat bags worth rupees 555million were found missing. On April 26, wheat worth 12 million rupees was allegedly stolen from godowns in Sindh. Read more:  Wheat worth Rs12 million stolen from warehouses in Sindh This was revealed during raids by the National Accountability Bureau (NAB) at the godowns along with a magistrate. The raids at warehouses of Kandhkot and Kashmore were carried out on order of the NAB chairman. A large number of sacks of wheat were found mixed with sand, while many other sacks were completely filled

ISLAMABAD: Election Commission of Pakistan was not authorised to disqualify any lawmaker named in the “Fourth schedule”, said the Islamabad High Court (IHC) in its verdict issued on Tuesday. The high court released its verdict which elucidated powers of the Election Commission of Pakistan (ECP) for disqualifying a legislator whose name is mentioned in the Fourth Schedule of the Anti-Terrorism Act (ATA). Justice Amir Farooq announced the verdict, saying that ECP was not eligible to declare any lawmaker disqualified included in the list of persons. Read More: CTD to modernize its Fourth Schedule supervision Earlier, a petition was filed in the high court against ECP’s move which disqualified Pakistan Tehreek-e-Insaf (PTI) Member of Provincial Assembly (MPA) Shah Muhammad from Khyber Pakhtunkhwa (KP)’s Bannu-89 constituency over his inclusion in the list. PTI’s Shah Muhammad had been disqualified as MPA and a member of district council by the commission on September 21 – 2017. Muham

ISLAMABAD: Prime Minister Imran Khan will perform the ground-breaking of Mohmand Dam on May 2, Senator Faisal Javed said on Tuesday. The Senator made the announcement on Twitter, saying: “Prime Minister Imran Khan to perform the ground-breaking of Mohmand Dam on 2nd May 2019. Special thanks to all the donors who are contributing for this great cause.” Prime Minister Imran Khan to perform the ground-breaking of Mohmand Dam on 2nd May 2019 insh'ALLAH #WaterForLife #Dams #PakistanZindabad Special thanks to all the Donars who are contributing for this great cause Masha'ALLAH #Prayers — Faisal Javed Khan (@FaisalJavedKhan) April 30, 2019 After its construction, Mohmand dam will be able to store 300,000 cusecs of water. The dam has gross capacity of 1.9 million acre feet (MAF), live capacity 0.67 MAF with power generation potential of 800 megawatts (MW) and annual energy production of 2862 GWh. The Water and Power Development Authority (WAPDA) in March awarded long delay

Iran will continue to export oil despite US pressure aimed at reducing the nation’s crude oil shipments to zero, Iranian President Hassan Rouhani said in a speech broadcast live on Iranian state TV on Tuesday. “America’s decision that Iran’s oil exports must reach zero is a wrong and mistaken decision, and we won’t let this decision be executed and operational,” Rouhani said. “In future months, the Americans themselves will see that we will continue our oil exports,” he said. If the United States is able to stop one method for Iran to export oil, then it will find other ways, Rouhani said. Oil prices hit their highest since November last week after Washington said all waivers for sanctions-hit Iranian oil would end this week, pressuring importers to stop buying from Tehran and further tightening global supply. The United States demanded last Monday that buyers of Iranian oil stop purchases by May 1 or face sanctions, ending six months of waivers that had allowed Iran’s eight bigg