According to NAB, Gen. (Retd) was facing corruption charges involving an amount of $753 million in the Tarbela Fourth Hydropower project.
Economy
It was a mistake, according to Vice President of the Pakistan Businesses Forum Ahmad Jawad, to devalue the rupiah under the PTI administration in order to have a “market decided” currency rate.
Chinese firms, including state refining giant Sinopec and state-run Zhenhua Oil, have ramped up purchases of Russian oil, enticed by steep discounts after western oil majors and trading houses pulled back due to sanctions.
“To reduce gas consumption, less gas must be used to generate electricity. Coal-fired power plants will have to be used more instead,” Germany’s Minister Robert Habeck said.
Russia invaded Ukraine on Feb 28 and in the first week of March, the Russian ruble crashed to 128 against the US dollar in the backdrop of economic sanctions imposed by the United States and some European countries.
Delay in agreement between the government and the IMF for the resumption of suspended loan and government’s inability to line-up foreign assistance from China, Saudi Arab, UAE and other countries has caused a serious blow to the value of rupee.
US sanctions have not yet touched nuclear fuel from Russia, although Washington “is being urged by political risks” to reduce its share.
Finance Ministry and IMF officials are holding another important meeting today to sort out issues, delaying the resumption of loan