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Pakistan’s trillion-rupee interest burden to persist beyond 2028 riba deadline

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A person can be seen arranging stacks of PKR notes. — AFP/FileOver 70% of interest payments go to local banks.Foreign debt beyond govt’s control for riba transition.Pre-2028 conventional debt to be replaced only at maturity.ISLAMABAD: Pakistan’s massive interest payment…

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Petrol price ‘likely to drop’, diesel rate to go up from Feb 1

A representational image of a fuel station staffer updating the fuel prices in Karachi. — AFP/ FileInitial estimates indicate Rs0.36 per litre reduction in petrol price.Rate for high-speed diesel to be increased by Rs9.47 per litre.Ogra to submit summary to Petroleum Division on…