Petrol smuggling costs Rs60 billion each year, report reveals. Incriminates politicians, govt officials in smuggling activities. "PSO vehicles being used to transport smuggled petrol." A report submitted to the Prime Minister's House (PMO) revealed that terrorists are using revenue generated from petrol smuggling as a key source of financing. The report, incriminating politicians and government officials revealed that 2.8 billion litres of petrol is smuggled annually to Pakistan from Iran. The petrol smuggling costs Rs60 billion to Pakistan each year, it added. "A total of 995 petrol pumps across the country are involved in the illegal sale of Iranian petrol. Around 90 government officials and 29 politicians are involved in the smuggling of petrol." However, a startling revelation made by the report is that Pakistan State Oil's (PSO) vehicles are involved in the transportation of Iranian petrol. The report also addressed the issue of Hundi-Hawala (illegal money trade and smuggling) accentuating that 722 currency dealers are involved in the illegal forex activity. In, Punjab 205 currency dealers — the highest among all the provinces — are involved in the illegal activity followed by Khyber Pakhtunkhwa (KP) with 183 dealers.

Disbursement of $2 billion possible after completion of deliverables. Federal, provincial govts must work on WB's agreed-upon indicators. Benhassine, Akhtar discuss WB's existing portfolio in Pakistan. ISLAMABAD: The World Bank has stressed the need for collaborative efforts to ensure the disbursement of $2 billion in programme and project loans to Pakistan during the current fiscal year, The News reported on Sunday. The key condition to unlock the funds by the international financial institution is the successful realisation of deliverables by federal and provincial governments, as outlined in its agreed-upon indicators. Therefore, a failure to meet these prerequisites will obstruct the $2 billion disbursement. The Economic Affairs Division (EAD) made an official announcement in this regard stating that the World Bank Country Director Najy Benhassine held a meeting with the interim Finance Minister Dr Shamshad Akhtar. During their meeting, the two assessed the overall performance of the World Bank's ongoing portfolio in Pakistan. Various other options were explored to expand collaboration in priority areas, with the aim to stimulate economic growth within the country. Dr Akhtar, while welcoming the World Bank team, reiterated that Pakistan values its development partnership with the bank. She appreciated the efforts of World Bank management, especially the country team in Islamabad, in the economic development of Pakistan.

All Pakistanis safe, embassy staff reached out to Pakistani community, says FO spokesman. 6.8 magnitude earthquake hit the North African nation last night. Morocco's interior ministry confirms 1,037 people have died so far. The Foreign Office on Saturday confirmed that all Pakistani nationals are safe in Morocco following the deadly 6.8 magnitude earthquake that hit the African nation the previous night. In a statement, Foreign Office Spokesperson Mumtaz Zahra Baloch shared that Pakistan embassy staff in Rabat has reached out to the Pakistani community to inquire about their safety and well-being. The spokesperson confirmed that all Pakistani nationals are safe in the North African nation following the deadly 6.8 magnitude earthquake. Expressing solidarity with the people of Morocco, Baloch said: "The people and Government of Pakistan stand in solidarity with the Kingdom of Morocco and express their heartfelt sympathies and condolences at the tragic loss of lives in yesterday’s earthquake."

Nawaz Sharif will lead the election campaign in Pakistan: Shehbaz. PML-N supremo to reach Pakistan in the “second half of October”. Three-time PM has been in self-imposed exile in London since 2019. LONDON: Pakistan Muslim League-Nawaz (PML-N) supremo and former prime minister Nawaz Sharif has, for the first time, confirmed that he will be returning to Pakistan in October this year. Nawaz — who has been in self-imposed exile in London since November 2019 owing to health reasons — said this for the first time on Friday during his meeting with his party workers and supporters at Stanhope House. Those in attendance included ex-PM Shehbaz Sharif and PML-N leaders Chaudhary Tanveer, Danyal Chaudhary, Chaudhary Nadeem Khan, Dr Anjum and others. Sources present during the meeting at Stanhope House indicated that Nawaz’s travel to Pakistan is confirmed next month although no exact date has been fixed. Geo News had revealed three weeks ago that the PML-N supremo was set to return to Pakistan in the middle of October. The sources also shared with Geo News that the three-time premier will be returning in the “second half of October”. Two weeks ago, PML-N President Shehbaz said that his elder brother would be returning in October. “Nawaz Sharif will return to Pakistan in October and lead the election campaign and this has been decided after the PML-N party consultations,” Shehbaz said as Nawaz stood next to him.