Islamabad: During the first two months of the current financial year, the United States has been the top exporter of Pakistani products.

According to the data, Pakistan exported the most products to the United States, followed by the United Kingdom (UK) and China.

According to the State Bank of Pakistan (SBP), total exports to the US during July-August 2023 were recorded at 934.666 million US dollars, which shows a decrease of 16.76% compared to the exports of 1122.883 million US dollars during July-August 2022.

It was followed by the United Kingdom, where Pakistan exported goods worth $351.135 million against $338.304 million in the previous year, an increase of 3.79 percent.

State Bank data shows that China was the third top export destination, where Pakistan exported products worth $333.077 million during the months under review.

Among other countries, Pakistan's exports to the United Arab Emirates (UAE) stood at $295.565 million against $244.889 million last year, showing an increase of 20.69 percent.

While exports to Germany were recorded at $253.155 million against $303.754 million last year. Exports to Holland were recorded at $226.624 million against $259.448 million, while exports to Italy were $195.539 million against $197.279 million.

Pakistan's exports to Spain were recorded at $211.454 million against US$242.2023 million, while exports to Afghanistan were recorded at $88.393 million against $81.795 million last year.

Exports to Bangladesh stood at US$ 98.589 million against US$ 143.757 million. Similarly, during the months under review, exports to France were recorded at US$ 91.043 million against US$ 96.921 million while exports to Belgium were US$ 134.864 million.

Exports of USD 96.515 million were recorded as compared to Pakistan's exports to Saudi Arabia were recorded at USD 95.174 million during the current year compared to USD 75.154 million last year, while exports to Turkey were recorded at USD 62.972 million.

Kabul: The Afghan Taliban have announced the capture of 200 suspected militants allegedly involved in cross-border attacks against Pakistan.

This revelation came during discussions with a high-level Pakistani delegation in Kabul last week, as reported by an American news agency.

Supreme Leader of the Taliban, Haibatullah Akhundzada, has issued orders to his forces, denouncing cross-border attacks on Pakistan as "haram" (forbidden) and un-Islamic.

Furthermore, Akhundzada has instructed Afghan citizens not to cooperate with or provide donations to the banned Tehrik-e-Taliban Pakistan (TTP).

Islamabad: Pakistan International Airlines (PIA) is grappling with a severe financial crisis, prompting the institution to consider divesting its core business and physical assets to settle its mounting liabilities.

The government is contemplating the creation of two separate entities – one for core operational activities and another for asset maintenance.

Additionally, a holding company will oversee all remaining assets.

PIA's accumulated losses have now surpassed Rs743 billion, with some insiders suggesting that this figure does not even include outstanding tax dues of Rs50 billion to the Federal Board of Revenue (FBR).

As the restructuring process commences, the government is concurrently exploring privatization options.

PIA has already engaged a consultant to oversee its restructuring and has begun soliciting applications.

Under the proposed restructuring, PIA will be split into two entities.

The first entity will handle core operations, including operating PIA aircraft on various routes. After restructuring, this entity will be privatized.

A holding company will be formed to manage physical assets and liabilities.

Government sources have indicated that the government's financial guarantee to PIA has been capped at Rs263 billion, and it recently secured guarantees of Rs17-18 billion from domestic banks.