ISLAMABAD: Pakistan on Tuesday condemned the firing of ballistic missiles by Yemen’s Iran-aligned Houthis towards Makkah province.
Saudi Arabia said on Monday that it had intercepted two missiles in Makka province fired by Houthis.
A foreign office statement on Tuesday commended “vigilant Saudi defence forces for intercepting the missiles.”
“Pakistan reaffirms its solidarity with Saudi Arabia and reiterates its support against any threat to the security of the Kingdom,” the statement said.
A Saudi coalition spokesman said, “Royal Saudi Defence Forces spotted aerial targets flying through restricted areas in the provinces of Jeddah and Taif and dealt with them as required by the situation,” according to Saudi’s state news agency SPA.
In a tweet, Saudi Arabia’s embassy in Washington said the two missiles had been intercepted in Mecca province, which includes Jeddah and Taif.
Al Arabiya TV, citing eyewitnesses, reported earlier on Monday that air defense forces had intercepted two ballistic missiles above the two western cities of Jeddah and Taif and said the first one had been directed toward Mecca, without providing evidence.
Pakistan condemns firing of ballistic missiles towards Makkah
Pakistan condemns firing of ballistic missiles towards Makkah
- Commends Saudi defense forces for intercepting attack
- Pakistan reaffirmed its solidarity with KSA and reiterates its support against any threat to its security
Pakistan forecasts inflation to remain in moderate 5.5-6.5 percent range
- Finance Division report says robust remittance inflows, steady performance of IT, service sectors to cushion external pressures
- Consumer inflation in Pakistan has significantly reduced over the years when it surged to a record high of 38 percent in May 2023
ISLAMABAD: Inflation is expected to remain in the moderate range of 5.5 to 6.5 percent for December, the Finance Division said in its Monthly Economic Outlook report on Wednesday.
Pakistan reported inflation at 6.1 percent on a year-on-year basis in November as compared to 6.2 percent in October. Pakistan’s inflation rate rose to a record high of 38 percent in May 2023 on account of surging food and fuel costs as Islamabad scrapped subsidies as part of a financial deal agreed with the International Monetary Fund (IMF).
“Inflation is projected to remain moderate, in the range of 5.5-6.5 percent in December, primarily reflecting base effect,” the report said.
The Finance Division’s report said Pakistan’s economic outlook remains “positive,” driven by sustained growth in industrial activity due to continued momentum in textiles, automobiles, cement and food processing sectors.
“Robust remittance inflows and steady performance in IT and services exports are likely to cushion external pressures,” the report said.
The report said Pakistan’s current account recorded a surplus of $100 million while it posted a deficit of $812 million during the July-November period.
It said remittances increased by 9.3 percent to $16.1 billion in November, led by inflows from Saudi Arabia (24.2 percent) and the UAE (20.8 percent), while the net foreign direct investment inflows were recorded at $927.4 million during the same July to November period.
It said Pakistan’s fiscal consolidation is expected to continue supporting macroeconomic stability, with government efforts in expenditure management, enhanced tax collection and structural reforms contributing to sustainable growth.
“Overall, Pakistan’s economy is projected to maintain its positive momentum in the coming months, driven by industrial growth, improved governance, digitalization, and prudent macroeconomic management,” the report said.
