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Corruption, red tape main obstacle in FDI: US envoy

Corruption, red tape main obstacle in FDI: US envoy

KARACHI: The United States has urged Pakistani leaders to combat corruption and red tape which was discouraging Foreign Direct Investment. It was also hampering economic growth and private sector development in the crises-hit country.
In addition, Washington snubbed local federal and provincial governments for lacking respect for ‘budget discipline’ that resulted in excessive borrowing from the central and private sector banks. The US was also critical of Islamabad’s lukewarm

‘FIA will bring main accused in NICL scam back to country by Dec 9’

LAHORE: The Federal Investigation Agency (FIA) will bring former minister of state for defense Habibullah Warraich’s son Mohsin Warraich – the main nominated accused in the National Insurance Corporation Limited (NICL) Scam – to Pakistan before December 9, FIA Punjab Director Zafar Qureshi claimed on Tuesday.
He made these comments while addressing a press conference at his office about the arrest of proclaimed offender Mazhar Iqbal Butter, considered to be the top-most

Suicide bomber wounds 22 at Istanbul’s main square

ISTANBUL: A suspected suicide bomber targeting Turkish police wounded 22 people in the centre of Istanbul on Sunday. No organisation has claimed responsibility for the attack, officials said, though the city has been targeted by Kurdish separatist militants, al Qaeda and other groups in the past.
“It was a suicide bomb and it appears as if the bomber blew himself up. It appears to be a male body,” Istanbul police chief Huseyin Capkin told reporters. Twelve civilians and 10

‘TBERM project main reason for flooding in Muzaffargarh’

ISLAMABAD: The flaws in the Taunsa Barrage Emergency Rehabilitation and Modernisation (TBERM) project was the main cause of floods in Muzaffargarh district and other nearby areas; local residents and civil society activists said.
They said that engineering flaws in the project destroyed the river environment, killed many people, led to the displacement of around 2 million people, washed away crops, animals, houses and other sources of livelihoods and caused losses worth billions