Ship agents have warned the Pakistani government that all export cargoes could stop as foreign shipping lines are considering halting their services for Pakistan after banks stopped remitting freight charges to them for lack of dollar availability, the Dawn reported.
Referring to the deep state in Pakistan, the MQM supremo said that the biggest characteristic of a corrupt ruling elite in a country is that "double standards" are enforced there.
The people of Gwadar remain deprived of clean drinking water and other basic facilities. Gwadar being the centre of economic development, did not change the fate of its people, writes Abdel.
According to two separate official announcements, UAE pledged to roll over USD 2 billion debt payable over the next two months and topped this with an additional USD 1bn support promised during Pakistan Prime Minister Shehbaz Sharif's visit to the UAE.
Dwindling exports of the textile sector in Pakistan and the government's incompetency to address and handle the ongoing economic crisis costed seven million people their jobs.
Pakistan, which is facing a severe cash crunch, has found a ray of hope in Saudi Arabia as Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud has directed officials to study augmenting the Kingdom's investments to reach USD 10 billion.
Amid depleting foreign reserves, currency exchange firms of Pakistan on Saturday offered to pay for resuming the letter of credit facility (LC) for supporting imports as banks step back due to Pakistan's ongoing economic crisis, according to a Geo News report.
Shehbaz Sharif would fly to the UAE on Tuesday along with his Foreign Minister Bilawal Bhutto Zardari where they are expected to be joined by Army Chief General Syed Asim Munir, who is already on a trip to the middle east, sources confirmed to The Express Tribune newspaper on Sunday.