Abdul Hafeez Shaikh

In a huge embarrassment for the Pakistan government, the Asian Development Bank or ADB has distanced itself from the "premature announcement" of Prime Minister Imran Khan's adviser that the global lender would provide a loan of USD 3.4 billion to the cash-strapped nation, saying "discussions are ongoing".

Pakistani Prime Minister Imran Khan made a sweeping cabinet reshuffle on Thursday after only seven months in power and appointed Abdul Hafeez Shaikh as de facto finance minister to steer the country through worsening economic turmoil.

Pakistan Prime Minister Raja Pervez Ashraf today proposed the name of former minister Abdul Hafeez Shaikh and banker Ishrat Hussain besides a retired judge for heading an interim administration and sought early response from opposition to set the stage for elections.

Pakistani opposition lawmakers and members of the treasury benches today engaged in fisticuffs as Finance Minister Abdul Hafeez Shaikh presented the government's new budget in Parliament amidst uproar.

In a huge embarrassment for the Pakistan government, the Asian Development Bank or ADB has distanced itself from the "premature announcement" of Prime Minister Imran Khan's adviser that the global lender would provide a loan of USD 3.4 billion to the cash-strapped nation, saying "discussions are ongoing".

Pakistani Prime Minister Imran Khan made a sweeping cabinet reshuffle on Thursday after only seven months in power and appointed Abdul Hafeez Shaikh as de facto finance minister to steer the country through worsening economic turmoil.

Pakistan Prime Minister Raja Pervez Ashraf today proposed the name of former minister Abdul Hafeez Shaikh and banker Ishrat Hussain besides a retired judge for heading an interim administration and sought early response from opposition to set the stage for elections.

Pakistani opposition lawmakers and members of the treasury benches today engaged in fisticuffs as Finance Minister Abdul Hafeez Shaikh presented the government's new budget in Parliament amidst uproar.