North Andover, MA (01845)TodaySunshine early then becoming cloudy later in the day. Winds W at 5 to 10 mph..TonightMostly cloudy. Low around 35F. Winds light and variable.

Current, and preceding, policy makers should own up to their mistakes in failing to devise a framework for growth. Invariably, our rulers are found blaming the opposition, and external factors, instead of looking inwards at their self-centred policies. Thirdly, constant ignorance to the alarms being raised by global credit rating agencies require aggressive rebuilding of the economy instead of ‘befitting’ responses. If we don’t act soon, we will be feeding 350-400million odd people through imports, leaving little to no scope for a capital intensive, value-adding and high skilled economy. Don’t push the economy off the cliff.

However, it is not new money, as the World Bank has already approved projects or it diverted funds from the schemes that were moving slow and the lender was considering cancelling those loans. This fact had also been highlighted by World Bank Vice President for the South Asia Region Martin Raiser at the Geneva Conference. Also, on December 19, 2022, the WB had approved $1.3 billion worth of projects to support the recovery, rehabilitation and reconstruction process. At the Geneva conference, Pakistan had received at total $9.7 billion worth of pledges, including $2 billion that the WB had already given in various forms. The World Bank is funding 54 operations in Pakistan costing $13 billion, which include both the IDA and IBRD loans.

North Andover, MA (01845)TodaySnow this morning will transition to snow showers this afternoon. Expect mist and reduced visibilities at times. Winds NW at 10 to 15 mph. Chance of snow 100%. Winds NW at 10 to 15 mph.

Containers have been held up at Karachi's port as the country grapples with a desperate foreign exchange crisis. PHOTO: AFPThousands of containers packed with essential food items, raw materials and medical equipment have been held up at Karachi port as the country grapples with a desperate foreign exchange crisis. He was speaking from an office near Karachi port, where shipping containers are stuck waiting for payment guarantees -- packed with lentils, pharmaceuticals, diagnostic equipment and chemicals for manufacturing industries. "We've got thousands of containers stranded at the port because of the shortage of dollars," said Maqbool Ahmed Malik, chairman of the customs association, adding that operations were down at least 50 per cent. Some factories have complained of a backlog of imported raw materials such as dyes, buttons, zippers and spare parts for machinery held up at the Karachi port.

Share:LAHORE - Mauritius beat Pakistan by 2-1 in the Four-Nation Cup thrilling match played at the Prince Saud bin Jalawi Stadium, Al-Khobar, Saudi Arabia on Sunday. After Mauritius took an early lead when Jheemla Chiara netted the first goal for her team in the fourth minute to make it 1-0. Pakistan team made a good comeback when Pakistan captain Maria Khan smashed in an impressive equalizer for her side in the ninth minute, making it 1-1. But minutes later, Mauritius took the lead in the 64th minute with a wonder strike from distance by Goapaul Juliemarie. It must be noted that the SAFF Women’s Championship was the first time in eight years that the Pakistan women’s team participated in an international match.

North Andover, MA (01845)TodaySnow showers. Temps nearly steady in the low to mid 30s. Winds NW at 10 to 15 mph. About one inch of snow expected..TonightCloudy early with partial clearing expected late. Winds NW at 10 to 15 mph.

ISLAMABAD: COMSTECH-the OIC Standing Committee for Scientific and Technological Cooperation has planned to arrange an international workshop on “Defining Research and Innovation Strategy for Excellence” next month in February. The workshop is aimed at identifying core competencies and focus areas within Research and Innovation framework, that aligns the university research and innovation portfolio with national needs and global challenges. NUST has become an example to follow for evolving its education, research, and innovation ecosystem. NUST has formulated its Research and Innovation Excellence Strategy (RISE) 2025 as its five-year strategic initiative that will build upon the momentum gained during the last three decades and is chalked out by horizontal-vertical partitioning of different components of the ecosystem – education, research, and innovation. To attain excellence in research and innovation, new knowledge and indigenous solutions could be developed to address the great global challenges.

Citing a detailed report conducted by the PBF, she maintained that due to falling exports, approximately seven million people in Pakistan’s textile industries have lost their jobs. In contrast, imports increased 11.3% to $5.25 billion in November, resulting in a $2.88 billion monthly trade deficit. Imports were, however, 33.6% lower than November 2021’s $7.89 billion, showing a 42.5% decrease in the annual trade gap,” explained Elahi. Exports fell by 3.5% to $11.93 billion in the first five months of the current fiscal year compared to $12.36 billion last year. The government’s decision to end duty drawbacks on local taxes has also caused liquidity problems for the export industry.

North Andover, MA (01845)TodaySnow showers. Temps nearly steady in the low to mid 30s. Winds NW at 10 to 15 mph. About one inch of snow expected..TonightCloudy early with partial clearing expected late. Winds NW at 10 to 15 mph.

North Andover, MA (01845)TodaySnow this evening will give way to lingering snow showers late. Expect mist and reduced visibilities at times. Winds N at 15 to 25 mph. Snow accumulating 1 to 3 inches..TonightSnow this evening will give way to lingering snow showers late. Expect mist and reduced visibilities at times.

"Petroleum prices will remain as they are at Rs214.80 per litre. Kerosene oil is currently priced at Rs171.83 per litre and that will also remain unchanged. Further, light diesel oil (LDO) is presently priced at Rs179 per liter, and that too shall remain unchanged for the next 15 days," he clarified. However, sources in the Petroleum Division had said that the government could keep prices unchanged at current levels for January 16 to 31 by adjusting the rate of petroleum levy. At present, the government is charging consumers Rs50 per litre in petroleum levy on petrol and Rs32.50 per litre on HSD.

US Army soldiers look at an F-16 fighter jet during an official ceremony to receive four such aircraft from the United States, at a military base in Balad, Iraq, July 20, 2015. PHOTO: REUTERS/FILEThe Biden administration has told Congress it is preparing the potential $20 billion sale of F-16 fighter jets to Turkiye, sources familiar with the matter said on Friday, sparking an immediate objection from a senior US lawmaker who has long opposed the deal. NATO member Turkiye requested in October 2021 to buy 40 Lockheed Martin Corp F-16 fighters and nearly 80 modernisation kits for its existing warplanes. While the sale is still in the informal review process, Congress is also unlikely to approve the sale as long as Turkiye refuses to proceed with the ratification of Sweden and Finland's NATO membership. "If they keep pushing Turkiye in other directions with F-16 (and) F-35 sanctions, and then Turkiye reacts, they blame Turkiye again, then that's not a fair game," Kalin said.

Share:Pakistan women cricket team is in Australia to play three ODIs and three-T-20 cricket matches against Australia. The first one-day international will be played at Brisbane on Monday. The three ODIs are part of the ICC Women’s Championship 2022-25. In an interview, Pakistan captain Bismah Maroof said, team is looking forward to play a competitive series against Australia. She said the series against Australia will provide an opportunity to players to express their talent on the field and make new fans.

LAHORE – Prime Minister Shehbaz Sharif visited friendly countries seeking foreign funds and loans as the sword of default is hanging over Pakistan. During his recent address during the passing out ceremony of probationary officers of the Pakistan Administrative Service (PAS), the premier said approaching friendly nations for more loans and payments 'embarrassed' him. Sharif said tapping friendly nations is not the right solution to deal with current economic challenges and stressed on achievement of sustainable development goals to put the economy on right track. Following PM’s visit, UAE agreed to roll over $2 billion and also approved providing $1 billion in loans while Islambad and Riyadh inked an agreement to finance oil derivatives worth $1 billion. PM made back-to-back visits to friendly nations and approached the global lenders as country’s central bank forex reserves nosedived to $4.3 billion, badly affecting financing imports.