Business & Economy - Pakistan - Business Recorder

Commodities

Pakistan gets offers in 185,000 metric ton wheat tender, traders say

Bunge submitted the lowest bid of $339.36/ton for 60,000 tons in Pakistan's tender for 185,000 metric tons of wheat

Published 28 Sep, 2026 04:15pm

Business & Economy

Business leaders call for reforms to revive Karachi’s economy

Farooq Afzal says Karachi's businesses need reliable infrastructure, enabling environment to remain competitive

Published 24 Sep, 2026 04:29pm

Business & Economy

Energy disruption hits Pakistan and Bangladesh as Gulf crisis worsens

A global energy crisis, exacerbated by Mideast conflicts, is causing severe power and fuel shortages across South Asia

Published 17 Sep, 2026 04:03pm

Business & Economy

Services exports record over $400 million increase in Jul-Aug: SBP

Govt services generate around $122mn during the two-month period

Published 17 Sep, 2026 03:44pm

Business & Economy

Pakistan’s economic prisoner’s dilemma: Why rational choices keep producing irrational economy

Low taxation, inadequate investment, weak exports, poor education contributed to Pakistan's failure to transform

Published 13 Sep, 2026 05:29pm

Business & Economy

Pakistan inflation clocks in at 9.2% in July 2026

Inflation stood at 4.1% in July 2025

Updated 03 Aug, 2026 01:34pm

Business & Economy

PM Shehbaz orders preparedness amid economic risks from regional tensions

Reviews economic fallout of regional crisis

Updated 16 Jul, 2026 08:55pm

Business & Economy

Sindh Assembly concludes budget debate as CM outlines Rs720bn development plan

CM Murad announces Rs206bn package for Karachi development schemes

Published 28 Jun, 2026 07:59pm

Business & Economy

Pakistan, Türkiye sign three MoUs to strengthen cooperation in power sector

Agreements establish formal frameworks for cooperation

Published 25 Jun, 2026 10:35pm

Business & Economy

CDWP approves 15 development projects worth Rs34.74bn

Projects included mineral exploration, healthcare, security, energy, robotics sectors

Published 25 Jun, 2026 09:18pm

Business & Economy

Pakistan's KGTL port plans up to $100mn more investment after Iran war cargo surge

Karachi Gateway Terminal Ltd, backed by Abu Dhabi Ports Group, has already completed a $60mn dredging project at Karachi Port, says CEO

Updated 23 Jun, 2026 11:17pm

Business & Economy

Disgruntled salaried group gets some relief as Aurangzeb announces FY27 budget

Defence expenditure raised to Rs3 trillion for FY27
Rs1 trillion for federal PSDP

Updated 12 Jun, 2026 09:40pm

Business & Economy

Pakistan to increase oil imports from Russia amid Hormuz crisis, reports

Driven by the Strait of Hormuz crisis, Pakistan and Russia are advancing a key gas pipeline project

Published 12 May, 2026 02:03pm

Energy

Azerbaijan says it is ready to supply LNG to Pakistan

'SOCAR is ready to provide LNG to Pakistan as soon as PLL submits a corresponding request,' company says

Updated 21 Apr, 2026 11:10pm

Business & Economy

Pakistan ramps up furnace oil use, delays nuclear maintenance amid LNG shortages

Supply crunch comes as Qatar’s force majeure stemming from Iran war have disrupted LNG imports

Published 16 Apr, 2026 07:54pm

Business & Economy

Unexpected repayment of $3.5 billion UAE loan puts pressure on Pakistani economy

A $1.3bn Eurobond maturing before the end of this fiscal adds to pressure on Pakistan's external position

Published 07 Apr, 2026 03:34pm

Business & Economy

Oil shock from ME tensions threatens to widen Pakistan’s C/A

Analysts say Pakistan remains highly vulnerable to energy shocks

Updated 26 Mar, 2026 04:28pm

Business & Economy

Who hurts most as Iran war hits global economy including Pakistan?

Pakistan is teetering on the brink of crisis two years ago and has ramped up its petrol prices and closed its schools for two weeks too

Published 24 Mar, 2026 05:49pm

Energy

Pakistan seeks Saudi oil supplies via Yanbu port after Hormuz disruption

Riyadh reaffirmed it would support Pakistan in meeting its emergency energy needs

Published 04 Mar, 2026 05:08pm

Business & Economy

PM Shehbaz acknowledges WB’s valuable support in advancing Pakistan’s economic development

PM Shehbaz, Banga reiterate to ensure strong oversight to deliver impact at speed and scale on CPF-aligned priorities

Updated 02 Feb, 2026 04:44pm

Business & Economy

Pakistan to roll out first Panda bond in coming weeks, says Aurangzeb

Finance Minister acknowledged that some firms have exited Pakistan

Updated 14 Jan, 2026 12:59pm

Business & Economy

Planning minister vows to transform blue economy into key driver of export-led growth

Achieving Pakistan’s vision of $1tn economy will require accelerated export growth, forum told

Published 03 Jan, 2026 12:08pm

Business & Economy

2026 will be a year of economic prosperity, most Pakistanis believe: survey

52 percent of Pakistanis "believe" that world peace will improve in 2026

Updated 01 Jan, 2026 02:36pm

Business & Economy

PM Shehbaz orders massive port reforms to slash business costs, cargo delay

Premier orders transparent auctioning system

Published 24 Dec, 2025 04:30pm

Commodities

Iranian company issues tender to buy 10,000 tons rice from Pakistan, traders say

Type 1121 white basmati rice is sought

Published 18 Dec, 2025 04:17pm

Business & Economy

Are remittances hurting the economy? Atif Mian weighs in

Rising remittances fuel consumption, overvalue the rupee, says the economist

Updated 13 Dec, 2025 03:08pm

Financial

Pakistan central bank likely to hold rate at 11% as IMF flags inflation risks

All 12 analysts surveyed expect no cut in the policy meeting on Monday

Updated 12 Dec, 2025 04:22pm

Energy

Pakistan fuel oil exports scale fresh high in 2025, to hold in 2026

Pakistan's exports have breached 1.4 million metric tons this year

Updated 27 Nov, 2025 06:49pm

Business & Economy

IMF reveals ‘elite capture’ costing Pakistan billions

Singles out sugar industry as a textbook example of how intertwined relationship between economic elites and state regulators combines to capture public benefits

Updated 20 Nov, 2025 02:20pm

Business & Economy

Pakistan, US reaffirm commitment to strengthen ‘economically entrenched strategic partnership’

Both sides explore new avenues for cooperation in trade & investment

Updated 08 Nov, 2025 09:22pm

Business & Economy

Blue economy a ‘game changer’ with $100bn potential for Pakistan: Aurangzeb

Says seafood exports, currently around $500 million, could increase to $2 billion within the next three to four years

Updated 04 Nov, 2025 12:38pm

Business & Economy

Pakistan’s GDP grows 3.04% in FY2025, economy size reaches $407bn: NAC

Growth higher than 2.68% estimated in previous meeting

Updated 08 Oct, 2025 10:16pm

Business & Economy

Economists warn Pakistan risks prolonged economic stagnation as growth outlook dims

Pakistan risks locking itself into a prolonged phase of economic stagnation, warned economist Asad Ali Shah, as the...

Published 04 Aug, 2025 11:02am

Business & Economy

Pakistan receives offers in 100,000 ton white sugar tender, traders say

Lowest offer of $539.00 a metric ton said to have been submitted by trading house ED&F Man

Updated 31 Jul, 2025 10:58pm

Business & Economy

IMF projects Pakistan’s GDP growth at 3.6% for FY26, below govt target of 4.2%

Fund upgrades Pakistan GDP growth estimates for FY25 by 0.1% to 2.7%

Updated 29 Jul, 2025 11:04pm

Business & Economy

Pakistan’s central bank seen cutting interest rate by 50 bps as inflation cools

KARACHI : Pakistan’s central bank is expected to cut its key interest rate by 50 basis points to 10.5% on Wednesday,...

Published 29 Jul, 2025 11:49am

Business & Economy

Trade talks: Finance minister Aurangzeb leaves for US

Final discussions on Pakistan-US trade dialogue to take place during visit, says Finance ministry
'Vast opportunities' for partnership in key sectors such as IT, minerals, and agriculture

Published 28 Jul, 2025 10:22pm

Business & Economy

Finance ministry projects July inflation at 3.5-4.5% as price pressures ease

Inflation stood at 3.2% in June

Updated 06 May, 2025 10:10pm

Business & Economy

Sustained Pakistan-India tensions could derail Islamabad’s economic recovery, warns Moody’s

Says persistent tensions with India could impair Pakistan’s access to external financing

Updated 05 May, 2025 11:32pm

Business & Economy

IMF to proceed with Pakistan review despite India’s objections

IMF Executive Board to meet on May 9 to discuss Pakistan programme

Published 28 Apr, 2025 09:49pm

Business & Economy

Aurangzeb highlights Panda, ESG bonds in key meetings at Washington: Finance Division

Finance minister meets delegations of Deutsche Bank, Moody’s

Updated 23 Apr, 2025 07:06pm

Business & Economy

Trump tariffs: Pakistan to boost US imports, investments, Aurangzeb tells Bloomberg

Islamabad has announced to send high-level delegation to US to promote trade relations, hold talks on reciprocal tariffs

Updated 22 Apr, 2025 07:36pm

Business & Economy

Pakistan reiterates pledge to IMF on economic reforms

Finance Minister Aurangzeb meets IMF Managing Director Kristalina Georgieva

Updated 22 Apr, 2025 07:27pm

Business & Economy

Pakistan inflation expected to drop further to below 0.5% in April 2025, says brokerage house

Consumer Price Index in country stood at 59-year low of 0.7% in March

Updated 21 Apr, 2025 08:49pm

Business & Economy

PIA privatisation: govt to seek bids to sell national airline next week

Pakistan seeks to sell 51-100% stake in debt-ridden carrier

Published 17 Apr, 2025 08:31pm

Business & Economy

Pakistan posts record $1.2bn current account surplus in March 2025

On YoY basis, C/A increases 230% against $363 million surplus in same month last year

Updated 17 Apr, 2025 07:11pm

Business & Economy

Fitch Ratings upgrade ‘strong’ endorsement of govt policies: Aurangzeb

Finance Minister Muhammad Aurangzeb on Tuesday said Fitch Ratings’ decision to upgrade Pakistan’s rating from CCC+...

Updated 15 Apr, 2025 05:43pm

Business & Economy

Fitch upgrades Pakistan rating to ‘B-’

Upgrade reflects increased confidence that Pakistan will sustain its recent progress

Updated 15 Apr, 2025 09:29pm

Energy

Pakistan mulls US oil imports to ease trade imbalance, sources say

Pakistan faces a 29% tariff due to a $3 billion trade surplus with the US

Updated 15 Apr, 2025 10:09pm

Business & Economy

Pakistan’s remittances surge 37% YoY in March, cross $4bn mark for first time

Experts warn that the momentum may not be sustained

Updated 14 Apr, 2025 02:12pm

Business & Economy

Pakistan receives record $4.1bn in remittances in March, says SBP governor

Central bank revises remittance forecast to $38bn for FY25

Updated 03 Apr, 2025 10:32pm

Business & Economy

Inflation drops to 59-year low at 0.7% in March 2025

CPI inflation lowest since December 1965

Updated 03 Apr, 2025 11:55pm

Business & Economy

US tariffs will hurt Pakistani products’ competitiveness, experts warn

'Biggest assault yet on global economic system' says one expert

Updated 26 Mar, 2025 08:06pm

Business & Economy

Pakistan’s GDP grows 1.73% in Oct-Dec

Growth in agriculture, industry and services stand at 1.1%, -0.18% and 2.57% respectively.

Updated 26 Mar, 2025 11:11pm

Business & Economy

IMF reaches staff-level deal with Pakistan to unlock $1.3 billion of new cash

Lender also agrees on first review of ongoing 37-month bailout programme

Updated 11 Mar, 2025 11:09pm

Business & Economy

Pakistan’s remittance inflow at $3.1bn in February 2025, up 3.8% month-on-month

Amount 38.6% higher when compared with $2.25 billion in February 2024

Updated 10 Mar, 2025 11:32pm

Business & Economy

Status quo: SBP keeps interest rate unchanged at 12%

MPC says core inflation remains at an elevated level

As Pakistan moves toward formalizing its stance on cryptocurrency, the government has appointed Bilal bin Saqib as...

Updated 05 Mar, 2025 04:33pm

Currency

Pakistan weighs cryptocurrency regulations amid concerns

As Pakistan moves toward formalizing its stance on cryptocurrency, key stakeholders voiced their concern over...

Published 04 Mar, 2025 02:59pm

Business & Economy

Pakistan ‘well positioned’ for first review of IMF bailout, says Aurangzeb

Programme has played key role in stabilising Pakistan’s economy

Updated 04 Mar, 2025 11:05pm

Business & Economy

Pakistan’s trade deficit surges 33% YoY to $2.3bn in February 2025

Trade deficit stood at $1.72 billion in February 2024

Updated 03 Mar, 2025 10:55pm

Business & Economy

Inflation in Pakistan clocks in at 1.5% in February 2025

CPI reading eases to 113-month low

Updated 03 Mar, 2025 10:53pm

Business & Economy

Hutchison Ports presents $1bn investment plan to modernise Pakistan’s ports

Hutchison Ports, one of the world’s leading ports network, presented their $1 billion investment plan to modernize...

Updated 28 Feb, 2025 10:43pm

Business & Economy

SBP’s rate cut cycle nears end, says brokerage house ahead of MPC

Majority expect up to 100bps rate cut in key policy rate in upcoming MPC, AHL survey finds

Updated 28 Feb, 2025 10:39pm

Business & Economy

Pakistan’s inflation projected to reach 2.3% in February

Pakistan headline inflation is expected to fall to 2.3% in February 2025, slightly lower than 2.4% recorded in the...

Published 27 Feb, 2025 02:04pm

Business & Economy

Tax Policy Office to be operationalised ‘in a few days’: Aurangzeb

Govt committed to broadening tax base, advancing with focused approach to make Pakistan export-led country, says finance minister

Published 26 Feb, 2025 09:39pm

Business & Economy

IMF team to visit Pakistan next week, says FM Aurangzeb

Islamabad secured $7bn programme last summer as part of economic recovery plan

Updated 26 Feb, 2025 10:14pm

Business & Economy

UK govt official urges Pakistani firms to use their country as platform to go global

'They can invest in expanding their business into the UK. And from there, they can access European and US markets,' says UK Director General for Strategy and Investment, Ceri Smith

Updated 22 Feb, 2025 09:13pm

Commodities

Pakistan inflation expected to clock in at 2.0-2.5% in February, says brokerage house

Consumer Price Index stood at 2.4% in January

Updated 21 Feb, 2025 10:20pm

Business & Economy

World Bank’s MIGA pledges support for Pakistan’s financial sector, capital markets

Delegation from Multilateral Investment Guarantee Agency meets Finance Minister Aurangzeb

Updated 21 Feb, 2025 10:15pm

Business & Economy

Asyad Holdings, Wafi Energy plan further investment in Pakistan

Asyad Holdings – a Saudi business conglomerate and Wafi Energy Pakistan, formerly Shell Pakistan Limited, have...

Updated 20 Feb, 2025 10:09pm

Business & Economy

IMF, Pakistan to open $1 billion climate finance talks next week, says adviser

Khurram Schehzad says mission to visit from February 24 to 28 for review and discussion of climate resilience funding

Updated 20 Feb, 2025 09:53pm

Business & Economy

Pakistan to export 100,000 metric tons of water buffalo meat to Indonesia

JAKARTA: Indonesia will import 100,000 metric tons of water buffalo meat from Pakistan, the National Food Agency...

Updated 20 Feb, 2025 08:11pm

Business & Economy

Pakistan cannot afford ‘free riders’: Aurangzeb calls for fairer tax contribution

Stresses on documentation of parallel economy

Updated 20 Feb, 2025 09:56pm

Business & Economy

Finance minister apprises WB delegation of govt’s reform agenda

Govt committed to ensuring business-friendly environment where private sector takes lead in driving economic growth, says Aurangzeb

Updated 19 Feb, 2025 10:59pm

Business & Economy

Pakistan eyes more G2G investment from Saudi Arabia, says Aurangzeb

Finance minister says structural reforms to pave way for sustainable growth

Updated 19 Feb, 2025 10:52pm

Business & Economy

US envoy commits to strengthening ties with Pakistan: PMO

The United States (US) Chargé d’Affaires Natalie Baker has said that the new US administration will work with...

Published 18 Feb, 2025 10:25pm

Business & Economy

Pakistan registers massive $420mn current account deficit in January 2025

This is first deficit since July 2024, showed SBP data

Updated 18 Feb, 2025 10:35pm

Business & Economy

Pakistan economy moving in the ‘right direction’, says IMF’s Georgieva

Kristalina Georgieva, Managing Director International Monetary Fund (IMF), lauded Pakistan’s economic progress,...

Published 18 Feb, 2025 02:35pm

Business & Economy

Pakistan seeks sustainable growth as Aurangzeb highlights structural reforms: report

Finance minister emphasises prudent fiscal management

Updated 18 Feb, 2025 10:31pm

Business & Economy

Govt aims to privatise up to 50 SOEs in next 3-4 years: minister

One-third of state-owned enterprises strategic assets, Minister for Economic Affairs Ahad Cheema tells World Bank delegation

Updated 17 Feb, 2025 11:00pm

Business & Economy

Aurangzeb says Pakistan seeks export of skilled labour to Saudi Arabia: report

Finance Minister Muhammad Aurangzeb has said that “vast opportunities exist” to enhance the export of skilled...

Updated 17 Feb, 2025 09:52pm

Business & Economy

PM Shehbaz, World Bank delegation discuss $40bn accord

Investment to be made under World Bank’s recently launched Country Partnership Framework

Updated 17 Feb, 2025 09:52pm

Business & Economy

HBL, S&P Global launch Pakistan’s first manufacturing PMI

ISLAMABAD: Pakistan’s largest bank, HBL, and global financial information and analytics firm S&P Global have...

Updated 14 Feb, 2025 10:28pm

Business & Economy

Aurangzeb discusses Pakistan’s structural reforms with IFC chief

Finance Minister Muhammad Aurangzeb discussed key structural reforms undertaken by the government with Makhtar Diop,...

Updated 14 Feb, 2025 09:22pm

Business & Economy

Enhancing bilateral trade: Pakistan, Turkiye to ink 21 agreements

In a bid to strengthen bilateral economic ties, Pakistan and Türkiye are set to sign 21 agreements in key sectors...

Updated 13 Feb, 2025 03:00pm

Business & Economy

IMF signals support, says PM as Pakistan pursues cost-cutting

Prime Minister Shehbaz Sharif Wednesday said the International Monetary Fund (IMF) has responded positively to...

Updated 12 Feb, 2025 10:23pm

Business & Economy

PM Shehbaz, IMF’s Georgieva discuss ongoing programme

Washington-based lender reiterates continued support for Pakistan’s reform agenda, read a statement

Updated 12 Feb, 2025 10:21pm

Business & Economy

IMF delegation meets CJP Afridi on ‘Finance Division’s request’

International Monetary Fund team in Pakistan to conduct Governance and Corruption Diagnostic Assessment under country’s 2024 Extended Fund Facility programme

Updated 11 Feb, 2025 10:38pm

Business & Economy

Carbon markets being explored through innovative financial mechanisms: Gilani

Acting president says climate change not just environmental concern but fundamental economic security issue

Updated 07 Feb, 2025 10:46pm

Business & Economy

Pakistan’s economic stability improves, but IMF & structural reforms crucial: Fitch

Securing sufficient external financing remains a challenge, rating agency says

Updated 07 Feb, 2025 09:55pm

Energy

Pakistan, China sign MoUs to enhance cooperation in clean energy, construction

Pakistan and China signed multiple memorandums of understanding (MoUs) Thursday to enhance cooperation in different...

Published 06 Feb, 2025 12:29pm

Business & Economy

Pakistan, China sign MoUs to enhance cooperation in multiple fields

Both sides agree to enhance intelligence sharing

Updated 05 Feb, 2025 10:00pm

Business & Economy

Over 9-year low: Inflation in Pakistan clocks in at 2.4% in January 2025

Pakistan’s headline inflation clocked in at 2.4% on a year-on-year basis in January 2025, a reading below that of...

Updated 03 Feb, 2025 10:44pm

Business & Economy

Pakistan, Iran business chambers ink MoU to boost bilateral trade to $10bn

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has inked a memorandum of understanding (MoU)...

Updated 03 Feb, 2025 05:07pm

Business & Economy

Taxation measure: reluctant Sindh approves Agricultural Income Tax Bill 2025

Livestock sector, however, remains excluded from agri income tax

Updated 03 Feb, 2025 11:14pm

Business & Economy

US business delegation explores investment opportunities in Pakistan

Meets Prime Minister Shehbaz Sharif, expresses interest in key sectors including mining and minerals, according to PMO statement

Updated 29 Jan, 2025 10:12pm

Business & Economy

Aurangzeb hints at tax reforms for Pakistan’s salaried group

Finance minister says slabs need re-think, but commitment cannot be made

Updated 28 Jan, 2025 09:13pm

Business & Economy

Bulk of Pakistan’s foreign debt repayment for FY25 already repaid: SBP chief

Governor State Bank of Pakistan (SBP) Jameel Ahmad on Monday said “bulk of” the country’s foreign debt for the...

Updated 27 Jan, 2025 09:51pm

Business & Economy

Naqvi assures resolution of US companies issues

Federal Interior Minister Mohsin Naqvi has assured to resolve issues of US companies operating in Pakistan on a...

Updated 25 Jan, 2025 05:59pm

Business & Economy

SBP likely to deliver sixth straight rate cut to revive economy

MPC scheduled to meet on January 27 (Monday)

Updated 24 Jan, 2025 09:39pm

Business & Economy

$20bn funding: World Bank’s Country Partnership Framework for Pakistan launched

PM Shehbaz reaffirms commitment to implementing 10-year programme aimed to support inclusive, sustainable development

Updated 23 Jan, 2025 11:03pm

Business & Economy

Pakistan’s inflation expected to fall below 3% in January

Declining inflation raise hopes of further cut in policy rate

Updated 23 Jan, 2025 11:05pm

Energy

OGDCL boosts oil production at Kunnar Oil Field in Sindh

The Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production company,...

Updated 23 Jan, 2025 04:37pm

Business & Economy

Pakistan ‘moving in the right direction,’ Aurangzeb asserts at WEF

Finance minister says govt focused on reducing expenditures, debt servicing volume

Updated 22 Jan, 2025 10:16pm

Business & Economy

Pakistan says it has agreed $1 billion loan with two Middle East banks

Terms set at 6-7% interest rate as country continues to look at more financing

Updated 21 Jan, 2025 10:41pm

Business & Economy

Aurangzeb says Pakistan’s taxation, stabilisation measures offer lessons for other developing economies

Country addressing structural inefficiencies in revenue collection, energy, SOEs, and privatisation, finance minister writes in World Economic Forum

Updated 21 Jan, 2025 10:16pm

Business & Economy

Pakistan eyes strategic partnerships at World Economic Forum 2025

Advisor to Finance Minister Khurram Schehzad on Tuesday said Pakistan seeks to secure strategic partnerships with...

Updated 21 Jan, 2025 10:51pm

Commodities

Saudi’s Manara Minerals to buy stake in Pakistan’s Reko Diq gold project: FT reports

Mining fund set to buy 10-20% stake in Reko Diq

Updated 21 Jan, 2025 10:06pm

Business & Economy

Ministries directed to prioritise objectives in line with Uraan Pakistan

Planning minister Ahsan Iqbal on Monday asked all concerned ministries to prioritise their objectives in line with...

Published 20 Jan, 2025 09:23pm

Commodities

Pakistan’s Reko Diq mine to generate $74bn in free cash flow over 37 years, Barrick CEO says

Project expected to start production by end of 2028

Updated 20 Jan, 2025 10:18pm

Business & Economy

PM Shehbaz welcomes Pakistan’s inclusion in WEF’s Digital FDI Initiative

Pakistan’s first Digital FDI project is making significant efforts to promote digital growth by identifying key targets: PM Shehbaz Sharif

Updated 18 Jan, 2025 08:47pm

Business & Economy

Pakistan registers massive $582mn current account surplus in December 2024

This is fifth consecutive month of current account surplus

Updated 17 Jan, 2025 09:04pm

Business & Economy

UAE confirms rollover of $2bn loan to Pakistan: SBP

The United Arab Emirates (UAE) has confirmed the rollover of its two deposits of $1 billion each, the State Bank of...

Published 16 Jan, 2025 10:19pm

Energy

Govt cuts tariff on charging stations by 45%: Awais Leghari

Energy minister says decision will pave way for expansion of charging stations, and increase EV adoption in Pakistan

Updated 11 Jan, 2025 05:50pm

Business & Economy

UN projects Pakistan’s GDP growth at 3.4% in 2025, inflation to be in double digits

UN report says the near-term economic outlook for South Asia is expected to remain robust

Updated 11 Jan, 2025 06:11pm

Business & Economy

Pakistan’s remittance inflow at $3.1bn in December 2024, up 6% month-on-month

Amount 29.3% higher when compared with $2.38 billion in December 2023

Updated 10 Jan, 2025 10:06pm

Business & Economy

Inflation to lower pace further in January, says SBP governor

However, some volatility may be seen following next month: Jameel Ahmad

Updated 09 Jan, 2025 10:53pm

Business & Economy

Gwadar Port: Planning minister seeks marketing templates, packages for ‘cost-effective’ trade routes

Materials to be distributed through Pakistan’s embassies, missions worldwide to promote Gwadar Port on global scale

Updated 08 Jan, 2025 10:59pm

Business & Economy

Current tax slabs ‘prohibitive’ but IMF commitments will be honoured, says PM

Addresses business persons at Pakistan Stock Exchange in Karachi

Updated 08 Jan, 2025 10:44pm

Business & Economy

Rightsizing measures: govt to abolish 150,000 vacant posts, says Aurangzeb

Govt deliberating on reducing contingency posts

Updated 07 Jan, 2025 10:23pm

Business & Economy

UAE rolls over $2bn loan, agrees to provide additional investment: PM

$2bn payment to UAE was due this month

Updated 07 Jan, 2025 10:00pm

Business & Economy

‘Ineligible persons’: stock brokers urge Aurangzeb for consultation on Tax Law (Amendment) Act

KARACHI: Pakistan Stock Brokers Association (PSBA) has urged Finance Minister Muhammad Aurangzeb to consult...

Updated 07 Jan, 2025 10:12pm

Business & Economy

In meeting with UAE president, PM Shehbaz underscores readiness to expand cooperation in multiple sectors

Both leaders discuss economic collaboration, regional stability, climate change, and promotion of mutual interests on global stage, Prime Minister's Office says

Updated 05 Jan, 2025 09:41pm

Business & Economy

Uraan Pakistan designed to avoid pitfalls of previous initiatives: Ahsan Iqbal

Planning minister says Vision 2010, Vision 2025 derailed due to political instability, policy discontinuity

Updated 03 Jan, 2025 11:00pm

Business & Economy

Turkish group bids below minimum fee for Islamabad Airport operations

Matter will now be referred to the International Finance Corporation (IFC), which is advising Islamabad on the outsourcing, before Pakistan takes a decision on whether the bid can go through

Updated 02 Jan, 2025 10:27pm

Business & Economy

Eyeing stronger Pakistan-US ties, Aurangzeb advocates diaspora engagement

In a bid to strengthen economic ties with the US, Federal Minister for Finance Muhammad Aurangzeb met with Rizwan...

Updated 02 Jan, 2025 10:54pm

Business & Economy

PBC urges govt to avoid past mistakes, identifies five risks to Pakistan’s economy

The Pakistan Business Council (PBC), the country’s leading corporate advocacy platform, highlighted five major...

Updated 02 Jan, 2025 06:11pm

Currency

Rupee’s stable road: PKR sees off best year since 2015

Currency had depreciated for a successive 7 years before seeing some gain in 2024

Updated 01 Jan, 2025 04:50pm

Business & Economy

Inflation in Pakistan clocks in at 4.1% in December 2024

Reading in line with government projection, strengthens case for continued monetary easing

Updated 01 Jan, 2025 09:40pm

Business & Economy

PM urges authorities to address revenue shortfall, meet IMF targets

Prime Minister Shehbaz Sharif on Wednesday stressed the tax collection authorities to meet the revenue targets...

Updated 01 Jan, 2025 09:51pm

Business & Economy

What is the National Economic Plan 2024-29 Shehbaz-led govt introduced?

The government on Tuesday unveiled ‘Uraan Pakistan: Home-grown National Economic Plan 2024-29’, a five-year national...

Published 31 Dec, 2024 09:20pm

Business & Economy

‘Uraan Pakistan’: PM Shehbaz unveils 5-year plan for economy

National Economic Transformation Plan is based on 5Es framework of (i) Export; (ii) E-Pakistan; (iii) Environment and Climate Change; (iv) Energy and Infrastructure; and (v) Equity, Ethics and Empowerment

Updated 31 Dec, 2024 10:34pm

Business & Economy

1,200MW electricity: construction begins of Chashma Nuclear Power Project Unit-5

PM Shehbaz says project another milestone in strategic cooperation between Pakistan, China

Updated 30 Dec, 2024 10:48pm

Business & Economy

Pakistan’s GDP grows 0.92% in July-Sept, 2.5% in FY24

Growth in agriculture, industry and services stood at 1.15%, -1.03% and 1.43% respectively, in Q1 FY25

Updated 30 Dec, 2024 11:25pm

Business & Economy

Agriculture, IT twin engines of growth: Finance Minister

Aurangzeb expresses intention to shut down Pakistan Agricultural Storage and Services Corporation, create alternative mechanism for maintaining strategic reserves

Updated 16 Dec, 2024 10:39pm

Business & Economy

World Bank approves $240mn for WASH services in Karachi

Financing to support investments in water, sanitation services

Updated 13 Dec, 2024 10:56pm

Energy

‘Rs146bn unpaid’: Energy minister writes letters to provinces for outstanding power dues

Overdue electricity bills hindering ongoing reforms in energy sector, Awais Leghari says

Updated 12 Dec, 2024 10:31pm

Business & Economy

Aurangzeb says Pakistan economy’s issues have been addressed

In address at Islamic capital markets conference, finance minister says country committed towards raising infrastructure finance through Shariah-compliant bonds

Updated 12 Dec, 2024 10:35pm

Business & Economy

Pakistan’s business confidence improves, but investment outlook dims: survey

Pakistan’s overall business confidence improved to a two-year high, driven by positive economic indicators, but the...

Updated 11 Dec, 2024 11:08pm

Business & Economy

ADB approves $330mn financing to bolster Pakistan’s social protection programmes

Result-based loan to expand grassroots-level social protection, lender says

Updated 11 Dec, 2024 09:45pm

Energy

ADB approves $200mn loan to modernise Pakistan’s power distribution network

The Asian Development Bank (ADB) on Wednesday approved a $200 million loan to modernise Pakistan’s power...

Updated 11 Dec, 2024 09:45pm

Business & Economy

‘Pakistan an invest-able market’: Engro Corp’s Samad Dawood explains tower sharing deal with Veon

KARACHI: Pakistan’s largest conglomerate Engro Corp, through its strategic partnership with Veon, is eyeing...

Updated 10 Dec, 2024 09:42pm

Business & Economy

Remittances to hit $35bn in FY25: Finance Minister

Aurangzeb says market forces are determining exchange rate

Updated 07 Dec, 2024 06:02pm

Business & Economy

Pakistan’s PIA to resume flights to Europe on Jan. 10 after 4-1/2 year ban

PIA's authorisation to operate in EU was suspended in June 2020 over concerns about ability of Pakistani authorities and its Civil Aviation Authority to ensure compliance with international aviation standards

Updated 06 Dec, 2024 10:27pm

Business & Economy

In meeting with IMF’s new representative, Aurangzeb reaffirms commitment to loan programme

Finance minister Muhammad Aurangzeb reiterated on Thursday Pakistan’s commitment to ensuring “smooth and successful”...

Updated 05 Dec, 2024 10:15pm

Business & Economy

Saudi Fund for Development extends term of $3bn deposit for another year: SBP

$3 billion deposit agreement was initially signed with SFD in 2021 and subsequently rolled over in 2022 and 2023

Updated 05 Dec, 2024 10:15pm

Business & Economy

PIA names acting CEO as it prepares to resume European flights

KARACHI: Pakistan International Airlines (PIA) on Thursday named one of the company’s senior executives as acting...

Updated 05 Dec, 2024 11:02pm

Energy

Pakistan defers LNG contract with Qatar for a year, petroleum minister says

Development comes amid decline in country's power usage

Updated 04 Dec, 2024 10:37pm

Business & Economy

‘Moving in the right direction’: Aurangzeb highlights economic progress

Federal Minister for Finance and Revenue Muhammad Aurangzeb Wednesday reaffirmed that Pakistan’s macroeconomic...

Updated 04 Dec, 2024 10:49pm

Business & Economy

‘No hiccups’: finance ministry reaffirms commitment to IMF programme, refutes speculation

Statement comes after report that Pakistan was facing some issues with IMF programme over meeting some conditions

Updated 04 Dec, 2024 10:05pm

Business & Economy

Finance ministry expects another policy rate cut as inflation comes down

Monetary Policy Committee meeting of the State Bank of Pakistan is scheduled to take place on Monday, December 16

Updated 02 Dec, 2024 10:12pm

Business & Economy

Lowest since May 2018: inflation in Pakistan clocks in at 4.9% in November 2024

Reading also below official expectations

Updated 02 Dec, 2024 10:30pm

Business & Economy

PM credits investor confidence in govt policies as KSE-100 hits 100,000

Prime Minister Shehbaz Sharif on Thursday hailed the unprecedented performance of Pakistan’s stock market, as the...

Updated 28 Nov, 2024 10:42pm

Business & Economy

Pakistan inflation to ease further in November 2024, says Ministry of Finance

In its ‘Monthly Economic Update and Outlook’, the ministry says fiscal consolidation and contained inflation will provide impetus to economic activities in the coming months

Updated 27 Nov, 2024 10:42pm

Business & Economy

World Bank offers assistance to streamline Pakistan’s budget-making process

The World Bank has offered Pakistani authorities technical assistance to enhance the budget-making process and adopt...

Updated 26 Nov, 2024 10:23pm

Business & Economy

Pakistan, Belarus sign 8 MoUs to boost trade, cooperation

Two sides agree to establish working groups for energy, industrial collaboration, Ministry of Commerce says

Updated 16 Nov, 2024 04:30pm

Business & Economy

1QFY25: With IMF in Islamabad, Punjab revises budget figures, now posts Rs40bn surplus

Finance ministry says with concurrence of the IMF, it has updated revised figures on its website, showing a surplus for Pakistan's most populous province

Updated 15 Nov, 2024 10:56pm

Business & Economy

CCoP reiterates ‘resolve to divest’ PIA shares, but adds G2G mode

Says will pursue its divestment through privatisation or government-to-government mode

Updated 15 Nov, 2024 10:29pm

Business & Economy

IMF delegation meets Aurangzeb: Finance Divison

Senior officials, including FBR chairman and SBP governor, also present at meeting

Updated 12 Nov, 2024 10:48pm

Business & Economy

Ministry assures Maersk of ‘full support’ as Pakistan seeks $2bn investment from Danish company

Agreement with Maersk expected this week, Maritime Affairs minister Qaiser Ahmed Sheikh says

Updated 11 Nov, 2024 10:03pm

Business & Economy

Abu Dhabi Ports, Pakistan sign 4 MoUs

PM witnesses signing related to Ministries of Maritime Affairs, Aviation, Railways and Federal Board of Revenue with Abu Dhabi (AD) Ports Group

Updated 08 Nov, 2024 10:39pm

Forex

Pakistan’s remittance inflow at $3.05bn in October 2024, up 24% year-on-year

Amount also 7% higher when compared with $2.86 billion in September 2024

Updated 08 Nov, 2024 10:02pm

Stocks

MSCI adds 8 Pakistani companies to Small Cap, removes TRG Pakistan from Frontier Markets Indexes

Morgan Stanley Capital International (MSCI) Inc., a leading provider of critical decision support tools and...

Updated 07 Nov, 2024 09:49pm

Business & Economy

Aurangzeb targets Pakistan’s credit rating improvement amid positive indicators

ECC will regularly monitor the prices of pulses and chicken, says Aurangzeb

Updated 06 Nov, 2024 06:56pm

Business & Economy

Pakistan desires to strengthen ties with Iran: PM Shehbaz

Prime Minister Shehbaz Sharif on Tuesday said Pakistan desires to further strengthen its brotherly relationship with...

Published 05 Nov, 2024 10:51pm

Business & Economy

Pakistan’s bilateral partners to continue rollovers during IMF programme: SBP governor

ISLAMABAD: The State Bank of Pakistan (SBP) Governor Jameel Ahmad told analysts on Monday that bilateral partner...

Updated 04 Nov, 2024 08:41pm

Business & Economy

Higher than market consensus: SBP reduces key policy rate by 250bps, takes it to 15%

Most analysts had expected cut of 200bps

Updated 04 Nov, 2024 09:53pm

Business & Economy

PM Shehbaz says promotion of foreign investment govt’s top priority

Premier's remarks come as he meets a delegation of influential business personalities from UK

Updated 03 Nov, 2024 10:10pm

Business & Economy

Pakistan’s trade deficit contracts 31% YoY to $1.5bn in October 2024

In 4MFY25, trade deficit narrows 5.59% to $6.97 billion

Updated 01 Nov, 2024 10:06pm

Business & Economy

Inflation in Pakistan clocks in at 7.2% in October 2024

Reading slightly higher than market and official expectations that put figure in range of 6-7%

Updated 01 Nov, 2024 10:57pm

Business & Economy

Govt posts a rare budget surplus of Rs1.7tn in Q1FY25

Only Punjab recorded a budget deficit among provinces

Updated 31 Oct, 2024 09:34pm

Business & Economy

Finance ministry sees Pakistan’s headline inflation at 6-7% in October 2024

CPI to decelerate further in November to 5.5-6.5%, says finance ministry

Updated 30 Oct, 2024 10:43pm

Business & Economy

Additional MoUs: Saudi Arabia, Pakistan enhance scope of partnership to $2.8bn

Saudi Arabia Minister for Investment says seven additional MoUs signed

Updated 30 Oct, 2024 09:21pm

Business & Economy

Real estate developer Blue World City cleared to bid for PIA, company chairman says

KARACHI: A Pakistani real estate development company said on Wednesday it had completed requirements to enter the...

Updated 30 Oct, 2024 10:02pm

Business & Economy

Climate and disaster resilience: ADB approves $500mn loan to support Pakistan

Lender also approves technical assistance grant of $1mn to support implementation

Updated 29 Oct, 2024 10:28pm

Stocks

Pakistan’s IPO market sees strong revival in 2024 with Rs8bn raised on PSX so far

The IPO market in Pakistan has seen a remarkable revival in 2024, as the Pakistan Stock Exchange (PSX) witnessed...

Updated 26 Oct, 2024 08:31pm

Business & Economy

Aurangzeb optimistic about swift finalisation of ADB’s Country Partnership Framework

Finance minister engages with key partners at IMF- World Bank meetings

Updated 26 Oct, 2024 08:32pm

Business & Economy

Pakistan aims to privatise flag carrier PIA in November: finance minister

Aurangzeb says ensuring macroeconomic stability, doing proper due diligence of interested parties behind five-month delay in privatisation process

Updated 24 Oct, 2024 11:48pm

Business & Economy

Aurangzeb explores climate financing, trade deals with global institutions

Finance Minister Muhammad Aurangzeb engaged with global financial institutions, including Standard Chartered Bank...

Updated 24 Oct, 2024 11:19pm

Business & Economy

Pakistan to explore international capital markets in due course, says Aurangzeb

Finance minister briefs CitiBank delegation on government reforms

Updated 23 Oct, 2024 11:24pm

Energy

Power generation in Pakistan falls in September amid rising costs, shift to renewables

Power generation in Pakistan stood at 12,487 GWh (17,343 MW) in September 2024, a decline of over 6% YoY compared to...

Updated 23 Oct, 2024 10:49pm

Business & Economy

Stay the course on reforms, IMF urges Pakistan

Remarks come as Pakistan delegation meets Middle East and Central Asia Department (MCD) Director Jihad Azour on sidelines of IMF, World Bank annual meetings in Washington

Updated 22 Oct, 2024 10:53pm

Business & Economy

Pakistan’s accelerated access to capital markets: Alvarez & Marsal team outlines steps

Alvarez & Marsal team has outlined steps for Pakistan to chart an accelerated path to international capital...

Updated 22 Oct, 2024 11:29pm

Business & Economy

Pakistan records $119mn current account surplus in September 2024

Development comes on back of massive increase in remittance inflows
This is the second successive month in which Pakistan's current account has posted surplus

Updated 21 Oct, 2024 11:32pm

Cotton & Textile

Pakistan’s cotton import bill set to hit $1.9bn as local production plummets

In a concerning development for Pakistan, the country’s cotton import bill is projected to reach $1.9 billion in the...

Updated 19 Oct, 2024 09:47pm

Business & Economy

Pakistan’s inflation likely to stay in single digit in October, rate cut anticipated

Consumer Price Index for October expected to clock in at 6.5-7.0%, according to a brokerage report

Updated 18 Oct, 2024 10:25pm

Business & Economy

SBP predicts 2.5-3.5% growth for FY25, warns of structural challenges

Inefficiencies in energy sector resulted in accumulation of circular debt, says central bank in annual report

Updated 17 Oct, 2024 10:51pm

Business & Economy

Aurangzeb discusses economic reforms, climate resilience with US envoy

Finance Minister Muhammad Aurangzeb told US Ambassador Donald Blome on Thursday that the government’s macroeconomic...

Updated 17 Oct, 2024 10:19pm

South Asia

SCO joint communique: member states say important to counter protectionist policies, sanctions

23rd Meeting of Council of Heads of Government of Member States of Shanghai Cooperation Organisation concludes in Islamabad

Updated 16 Oct, 2024 11:22pm

Business & Economy

Pakistan, China resolve to deepen strategic cooperation

Pakistan and China on Tuesday reaffirmed their commitment to further deepen strategic cooperation across key areas,...

Updated 15 Oct, 2024 11:32pm

Business & Economy

PM Shehbaz assures Premier Li of ‘unwavering commitment’ to safety of Chinese nationals in Pakistan

Both sides agree to continue high-level contacts, which include strengthening cooperation in all bilateral areas, PMO says

Published 14 Oct, 2024 11:48pm

Business & Economy

Pakistan, China agree to further enhance bilateral cooperation in multiple sectors

Two sides sign 13 accords to strengthen multiple cooperation
Inaugurate Gwadar International Airport

Updated 14 Oct, 2024 11:54pm

Business & Economy

ADB appoints Xiaoqin Fan as new country director for Pakistan

The Asian Development Bank (ADB) appointed Xiaoqin (Emma) Fan as its new country director for Pakistan on Monday....

Updated 14 Oct, 2024 09:56pm

Business & Economy

Pakistan all set to host 23rd SCO meeting in Islamabad: Deputy PM Dar

Two-day summit will commence on October 15

Published 13 Oct, 2024 11:21pm

Business & Economy

‘Living standards’: Pakistan lagging behind regional peers, says IMF

The International Monetary Fund (IMF) said Pakistan has “moved further and further behind” its regional peers in...

Updated 11 Oct, 2024 09:21pm

Business & Economy

IMF flags risks to Pakistan’s repayment capacity

In staff report, lender says risks, notably from high public debt and gross financing needs, low gross reserves and sociopolitical factors, could jeopardise policy implementation and erode repayment capacity and debt sustainability

Updated 11 Oct, 2024 10:31pm

Business & Economy

Pakistan, Saudi Arabia sign MoUs valuing $2.2bn in multiple sectors

PM Shehbaz vows agreements to be fully materialised without delay or red tape-ism

Published 10 Oct, 2024 11:08pm

Business & Economy

‘War on tax fraud’: Pakistan faces revenue gap of Rs3.4tr due to tax evasion & fraud, says finance ministry

Finance & Revenue Division cites FBR study pertaining to iron & steel, beverages, batteries, textile, and cement sectors

Updated 10 Oct, 2024 09:18pm

Business & Economy

World Bank projects Pakistan’s GDP growth at 2.8% in FY25

The World Bank expects economic activity in Pakistan to continue recovering with real GDP growth estimated at 2.8%...

Updated 10 Oct, 2024 09:55pm

Business & Economy

Saudi Arabia, Pakistan to sign Barrick deal in few weeks, says Al Faleh

Eager to start number of mining initiatives but hope to close Reko Diq project with Pakistan's SOEs and Barrick Gold in the coming weeks, says Saudi Arabia Minister for Investment

Updated 10 Oct, 2024 11:59pm

Business & Economy

High-level Saudi business delegation arrives in Pakistan on three-day visit

PM Shehbaz had earlier stated that he expected agreements worth $2 billion to be signed

Updated 10 Oct, 2024 01:06am

Business & Economy

Pakistan’s remittance inflow stands at $2.85bn in September 2024, up 29% year-on-year

Amount marginally lower than in August 2024
During 3MFY25, remittances up nearly 39% YoY to $8.8 billion as compared to $6.3 billion in 3MFY24

Updated 09 Oct, 2024 10:51pm

Business & Economy

Chinese engineers killed in Karachi terror attack were involved in debt talks with govt: Aurangzeb

Finance minister says these 'brothers of Pakistan' wanted to create 'win-win situation' in terms of reducing power tariffs in the country
Pakistan’s economy incurs losses to the tune of Rs190 billion per day due to strike and strife, Aurangzeb says

Updated 08 Oct, 2024 08:27pm

Business & Economy

Pakistan will not lose focus on reforms, Aurangzeb tells foreign investors

Federal Minister for Finance Muhammad Aurangzeb assured international investors that the government will not let go...

Updated 08 Oct, 2024 10:23pm

Business & Economy

Pakistan to sign agreements worth $2bn with Saudis, PM Shehbaz Sharif says

The Saudi delegation is expected to visit Pakistan before Shanghai Cooperation Organisation meeting

Updated 08 Oct, 2024 10:23pm

Business & Economy

Pitching Pakistan’s economy: brokerage house AHL says country not witnessing exodus of foreign investment

Brokerage house Arif Habib Limited (AHL) has emphatically said that Pakistan is not witnessing an exodus of foreign...

Updated 05 Oct, 2024 10:27pm

Business & Economy

Aurangzeb calls for ‘leveraging’ economic gains to ensure permanent stability

Finance Minister Mohammed Aurangzeb called for “leveraging” Pakistan’s improving economic position to achieve...

Updated 02 Oct, 2024 10:15pm

Business & Economy

Pakistan’s trade deficit widens marginally to $5.4bn in 3MFY25

Gap comes on account of higher imports that stand at $13.31bn, while exports clock in at $7.88bn in three months

Updated 02 Oct, 2024 10:17pm

Business & Economy

T-Bill buyback to boost lending to private sector: SBP governor

State Bank of Pakistan (SBP) Governor Jameel Ahmad on Wednesday said the government’s move to buy back Market...

Updated 02 Oct, 2024 10:14pm

Business & Economy

Lowest reading since Jan 2021: inflation in Pakistan clocks in at 6.9% in September 2024

Reading also lower than market expectations that put figure in range of 7.5-8%

Updated 01 Oct, 2024 07:47pm

Business & Economy

Pakistan’s GDP grows 3.07% in April-June, 2.52% in FY24

National Accounts Committee says growth in agriculture, industry and services stands at 6.76%, -3.59% and 3.69%, respectively, in fourth quarter of 2023-24

Updated 30 Sep, 2024 10:53pm

Business & Economy

Aurangzeb says ‘DNA’ of Pakistan’s economy needs fundamental reform for IMF deal to be last one

Finance Minister says govt will keep going back to the same sectors for taxes unless it reforms system

Updated 29 Sep, 2024 09:55pm

Business & Economy

Pakistan’s economy to grow at 3.2%, face 9.2% inflation, projects IMF

The International Monetary Fund (IMF) has projected Pakistan’s GDP growth at 3.2% during FY25, compared to 2.4%...

Updated 28 Sep, 2024 10:46pm

Business & Economy

Key priorities highlighted by IMF for Pakistan’s $7bn Extended Fund Facility

In a key development, the International Monetary Fund (IMF) Executive Board approved Pakistan’s 37-month Extended...

Published 28 Sep, 2024 05:25pm

Business & Economy

IMF urges Pakistan to ‘move away’ from state-led growth model, calls for structural reforms

Officials note that given ambitious growth projections, there is no room for policy slippages without undermining debt sustainability

Updated 28 Sep, 2024 07:32pm

Business & Economy

PM Shehbaz engages World Bank, IMF leaders on Pakistan’s economic reforms

Expresses appreciation for IMF's technical assistance and capacity-building programs

Updated 27 Sep, 2024 11:33pm

Business & Economy

Despite progress, Pakistan’s vulnerabilities, structural challenges remain formidable: IMF

In its press release issued after Executive Board approval, IMF says difficult business environment, weak governance, and outsized role of the state hinder investment

Updated 26 Sep, 2024 08:51pm

Business & Economy

Pakistan’s economy on a sound path, says IMF chief after Executive Board approval

Kristalina Georgieva congratulates people of Pakistan for moving forward with home-defined, country-owned reforms

Updated 26 Sep, 2024 10:16pm

Business & Economy

IMF Executive Board approves Pakistan’s $7bn bailout package: PMO

As part of 37-month programme, IMF will immediately release an initial tranche of $1.1bn, Prime Minister's Office says

Updated 25 Sep, 2024 11:18pm

Business & Economy

IMF-backed reform agenda to accelerate Pakistan’s economic growth in FY25: ADB

In its Asian Development Outlook, Manila-based lender sees Pakistan's growth to grow by moderate 2.8% in FY25

Updated 05 Sep, 2024 10:32pm

Business & Economy

Coke, Pepsi boycott over Gaza lifts Pakistan, other countries’ local brands

Restaurants, Karachi's private schools association and university students have all taken part in anti-Coca-Cola actions

Updated 04 Sep, 2024 11:50pm

Business & Economy

Aurangzeb engages with J.P. Morgan on investment opportunities in Pakistan

High-level huddle discusses interests of institutional investors exploring fixed-income investment opportunities in Pakistan

Updated 04 Sep, 2024 09:18pm

Business & Economy

Pakistan in ‘advanced stage’ to get external financing assurances, says Aurangzeb

Finance minister hopeful of getting IMF Executive Board approval on time

Updated 03 Sep, 2024 09:45pm

Business & Economy

Govt working on implementing IMF conditions, says PM

Pakistan has not yet been added to the IMF Executive Board calendar for September

Updated 03 Sep, 2024 08:28pm

Business & Economy

‘Economy in state of collapse’: Dr Kaiser Bengali resigns from govt’s austerity committee

Renowned economist Dr Kaiser Bengali has resigned from the Austerity Committee (High-Powered Committee for...

Updated 02 Sep, 2024 09:01pm

Business & Economy

Finance ministry expects inflation to fall further to 9.5-10.5% in August

Headline inflation figure hit 11.1% in July and brokerage houses now see the number falling to single digits

Updated 30 Aug, 2024 10:09pm

Business & Economy

Pakistan needs to overcome ‘fear of debt restructuring’: Dr Murtaza Syed

Former governor of State Bank of Pakistan (SBP) Dr Murtaza Syed on Thursday urged countries including Pakistan to...

Updated 29 Aug, 2024 10:27pm

Business & Economy

Pakistan’s internet disruption could continue till early October due to ‘submarine cable fault’

PTA says fault occurred in two cables, one of which has been repaired

Updated 28 Aug, 2024 08:48pm

Business & Economy

Pakistan, Turkiye call for more G2G, B2B partnerships

Authorities in Pakistan and Turkiye stressed on enhancing bilateral trade and investment portfolio through more...

Updated 28 Aug, 2024 07:36pm

Business & Economy

Moody’s upgrades Pakistan’s ratings to Caa2, outlook now positive

Upgrade reflects Pakistan’s improving macroeconomic conditions, says Moody's
Expects IMF to approve the EFF in the next few weeks

Updated 28 Aug, 2024 08:04pm

Business & Economy

Pakistan aims to secure $4bn from Middle Eastern banks by FY26: SBP governor

Jameel Ahmad says Pakistan is in 'advanced stages' of securing $2 billion in additional external financing required for IMF executive board approval

Updated 27 Aug, 2024 10:18pm

Business & Economy

August inflation figure expected in single digits after almost 3 years: brokerage house

Inflationary pressure is likely to subside further in Pakistan and come down to single digits from August onwards,...

Updated 22 Aug, 2024 10:40pm

Business & Economy

Buna-Raast connectivity project will make remittances more convenient, says PM Shehbaz

This is Pakistan’s first cross-border real-time payment system linkage

Updated 22 Aug, 2024 10:43pm

Energy

Pakistan’s ‘zombie power sector sucking the blood out of healthy firms’: Atif Mian

Noted economist says govt refusing to recognise the sector is bankrupt

Updated 22 Aug, 2024 03:33pm

Business & Economy

Making good progress with IMF to secure Board approval during September, says Aurangzeb

Pakistan had earlier expected Executive Board approval on $7bn Extended Fund Facility in August

Updated 21 Aug, 2024 09:56pm

Business & Economy

Last two years worse in Pakistan’s economic history: Atif Mian

Country stuck in ‘poverty trap’, needs ‘big policy change’, says noted economist

Updated 19 Aug, 2024 04:40pm

Business & Economy

Pakistan’s current account posts deficit of $162mn in July 2024

Deficit lower on a monthly basis, but 'higher than expectations due to wider trade deficit reported by SBP'

Updated 19 Aug, 2024 09:06pm

Business & Economy

Aurangzeb wants BYD to export from Pakistan as Chinese automotive giant launches in country

Finance minister says presence of major global player could enhance the country's export potential in the burgeoning electric vehicle market

Updated 17 Aug, 2024 09:46pm

Business & Economy

Authority says Pakistan’s new Special Technology Zone will boost tech exports by $350mn

In an attempt to enhance exports, Pakistan has established four Special Technology Zones (STZs) in Punjab, with the...

Updated 16 Aug, 2024 08:34pm

Business & Economy

Pakistan’s internet firewall could cost economy $300mn, association says

P@SHA says government's lack of transparency around firewall has "ignited a firestorm of distrust" among internet users and Pakistan's global IT clients who fear their proprietary data and privacy will be compromised

Updated 15 Aug, 2024 11:53pm

Business & Economy

Pakistan’s remittance inflow stands at $3bn in July, up 48% year-on-year

On monthly basis, inflow down 5%
Amount from Saudi Arabia remains highest at $761mn

Updated 09 Aug, 2024 10:18pm

Business & Economy

Pakistan, China discuss energy sector reforms

Pakistan has already requested Beijing to re-profile energy sector debt owed to China

Updated 09 Aug, 2024 10:01pm

Business & Economy

Aurangzeb says Pakistan has secured debt rollover commitments from China, Saudi Arabia and UAE

Development gives boost to economy that awaits Executive Board approval from the IMF ahead of $7-billion bailout

Updated 06 Aug, 2024 10:25pm

Business & Economy

Aurangzeb highlights trust deficit with international donors as Pakistan awaits flood aid

Finance Minister Senator Muhammad Aurangzeb admitted that there was a serious trust deficit among international...

Updated 06 Aug, 2024 11:22pm

Business & Economy

US firm presents Aurangzeb proposal to streamline regulatory system in Pakistan

Federal Minister for Finance and Revenue Muhammad Aurangzeb held a meeting with Scott Jacobs, the Managing Director...

Updated 05 Aug, 2024 06:34pm

Business & Economy

Letter written to China for debt reprofiling: PM Shehbaz

Prime Minister Shehbaz Sharif on Friday said that he has “written a letter” to the Chinese authorities for the...

Published 02 Aug, 2024 04:25pm

Business & Economy

Five Chinese firms bid to help with Pakistan’s Panda Bond issuance

ISLAMABAD: Five Chinese firms have placed bids to work on Pakistan’s issuance of Panda Bonds, the South Asian...

Published 01 Aug, 2024 05:18pm

Business & Economy

Pakistan’s headline inflation clocks in at 11.1% in July 2024, lowest since November 2021

Reading lower than official expectations that put figure in range of 12-13%

Updated 01 Aug, 2024 05:55pm

Business & Economy

Cannot defer reform agenda anymore, says Aurangzeb

Finance minister says state-owned insurance companies should also be handed over to private sector

Updated 01 Aug, 2024 09:34pm

Business & Economy

S&P Global keeps Pakistan’s rating at ‘CCC+’, citing reliance on foreign aid

Ratings agency says strong foreign fund inflows and moderate current account deficits would likely be required to restore Pakistan’s external buffers

Published 30 Jul, 2024 08:25pm

Business & Economy

Pakistan’s finance ministry forecasts July inflation at 12-13%

ISLAMABAD: Pakistan’s finance ministry expects inflation in July to range between 12% and 13%, easing further in...

Updated 30 Jul, 2024 07:17pm

Business & Economy

Govt adamant on bringing agriculture into tax net: Aurangzeb

Finance Minister says every segment has to play its part

Updated 30 Jul, 2024 10:14pm

Business & Economy

Miftah Ismail says fiscally possible to remove electricity taxes without disturbing primary surplus

Former finance minister says the reduction in revenue collection from eliminating taxes can be offset by reducing funds allocated to the Public Sector Development Programme

Published 29 Jul, 2024 09:27pm

Business & Economy

Pakistan will face no difficulty in meeting external debt obligations in FY25: SBP governor

Pakistan will not face an issue in meeting its external payment obligations in the current fiscal year (FY25), said...

Updated 29 Jul, 2024 07:33pm

Business & Economy

Fitch upgrades Pakistan rating to ‘CCC+’

Upgrade reflects greater certainty over continued availability of external funding, says credit rating agency

Updated 29 Jul, 2024 07:43pm

Business & Economy

SBP reduces key policy rate by 100bps, takes it to 19.5%

Majority analysts expected cut, it was the quantum of reduction that had them divided

Updated 29 Jul, 2024 07:42pm

Business & Economy

Foreign investors repatriate $2.2bn in FY24, a massive 569% increase YoY

Foreign investors repatriated a massive $2.215 billion on account of profit and dividend during fiscal year...

Updated 29 Jul, 2024 08:04pm

Business & Economy

China’s central bank governor meets Pakistan finance minister in Beijing

BEIJING: China’s central bank governor Pan Gongsheng on Friday met with Pakistan’s Finance Minister Muhammad...

Updated 26 Jul, 2024 09:53pm

Business & Economy

ADB approves $400mn concessional loan for Sindh Emergency Housing Reconstruction Project

Says project is key part of its multifaceted response to Pakistan’s flood crisis and forms part of the bank's commitment to provide $1.5bn in total assistance from 2023 to 2025

Updated 26 Jul, 2024 10:31pm

Business & Economy

SBP widely seen cutting key policy rate on Monday

Only one analyst out of 14 predicts rates would be held at 20.5%; the rest forecast a cut

Published 19 Jul, 2024 04:27pm

Elections

Pakistan ‘highly likely’ to see change in govt before 2029 elections, warns Fitch Solutions’ BMI report

However, it says PML-N will succeed in pushing through IMF-mandated reforms over coming 18 months

Updated 18 Jul, 2024 07:16pm

Currency

Pakistan’s GDP growth to hit 3.2% in FY25, says Fitch Solutions’ BMI report

Growth to come on back of agriculture boost, lower policy rate and easing inflation
Projected figure still below govt's targeted level of 3.6%

Updated 18 Jul, 2024 10:08pm

Business & Economy

New IMF programme to improve Pakistan’s funding prospects: Moody’s

Credit rating agency, however, warns govt’s ability to sustain reform implementation will be key to continually unlock financing over three-year duration

Updated 16 Jul, 2024 09:38pm

Business & Economy

Govt hikes petrol price by Rs9.99, diesel’s by Rs6.18 per litre

Petrol's new rate, applicable from July 16, stands at Rs275.6 per litre

Published 15 Jul, 2024 11:40pm

Business & Economy

PM directs to form committee to reactivate Neelum-Jhelum Hydropower Project

Prime Minister Muhammad Shehbaz Sharif on Sunday directed to form a committee on an urgent basis with respect to...

Published 14 Jul, 2024 09:11pm

Business & Economy

Taxing Pakistan’s agriculture sector: IMF push ‘a move in the right direction’

Islamabad will be required to complete a number of conditions as it moves ahead with $7-billion EFF; reforms will include bringing retail, export, and agriculture sectors properly into taxation system

Updated 13 Jul, 2024 10:15pm

Business & Economy

Key policy points/reforms stressed by IMF in new staff-level agreement

In a major development, the International Monetary Fund (IMF) reached a Staff-Level Agreement (SLA) with Pakistan...

Published 13 Jul, 2024 11:19am

Business & Economy

IMF, Pakistan reach staff-level agreement on $7bn Extended Fund Facility

The new 37-month programme is now subject to approval by the lender's Executive Board

Updated 13 Jul, 2024 10:15pm

Business & Economy

6 months of 2024: Pakistan’s startup funding falls 92%, amounts to measly $3mn

Pakistan’s startups attracted a measly $3 million in the first half of 2024, a massive 92% lower year-on-year,...

Updated 10 Jul, 2024 11:27pm

Energy

E&Ps look to invest $5bn in Pakistan’s energy sector: govt statement

Delegation meets PM Shehbaz Sharif who forms committee headed by deputy premier Ishaq Dar

Updated 06 Jul, 2024 07:53pm

Business & Economy

Dr Gohar Ejaz urges govt to provide relief to salaried class

Former caretaker minister also advocates lowering key interest rate

Updated 01 Jul, 2024 07:03pm

Business & Economy

Pakistan’s headline inflation increases pace, clocks in at 12.6% in June 2024

Average CPI inflation reading in FY24 clocks in at 23.4%

Updated 01 Jul, 2024 07:03pm

Business & Economy

Govt increases petrol price by Rs7.45, takes it to Rs265.61 per litre

New prices come into effect from July 1, 2024

Published 30 Jun, 2024 11:40pm

Business & Economy

Pakistan engulfed in world’s ‘deadliest debt trap’, says former SBP governor

Dr Murtaza Syed says prudent route would be to reprofile Pakistan’s debt so that resources can be freed up to spend on development and the climate

Published 29 Jun, 2024 08:29pm

Business & Economy

Brokerage houses see inflation rate in Pakistan to go over 12% in June

Two brokerage houses said they see CPI-based inflation reading inching slightly higher, and hovering around 12-13%...

Updated 28 Jun, 2024 11:58pm

Business & Economy

Govt passes tax-laden budget ahead of talks on fresh IMF loan

Some amendments part of the final budget

Updated 28 Jun, 2024 11:57pm

Business & Economy

Budget 2024-25: a mixed bag for Pakistan’s climate change efforts

Pakistan’s Finance Minister Mohammad Aurangzeb, in his budget 2024-25 speech, said Pakistan faces dangers due to the...

Updated 27 Jun, 2024 09:59pm

Business & Economy

Pakistan’s remittances to recover and grow in 2024, 2025: World Bank

Remittance flows in Pakistan to hit $30 billion in 2025, says global body in report

Updated 27 Jun, 2024 08:13pm

Business & Economy

AJK govt presents over Rs220bn budget for FY2024-25

Development expenditure for upcoming fiscal year projected at Rs44 billion

Updated 25 Jun, 2024 10:58pm

Business & Economy

After higher taxation, a quiet ‘revolution’ is taking place within Pakistan’s salaried group

Some members of 'Salaried Class Alliance Pakistan' hold press briefing at Karachi Press Club, outlining grievances with 'unfair taxation measures'

Published 25 Jun, 2024 07:39pm

Business & Economy

PIA bidding process to take place in first week of August

The bidding process for the privatisation of Pakistan International Airlines (PIA) will be held in the first week of...

Updated 25 Jun, 2024 11:00pm

Business & Economy

Honoraria for NA, Senate staff but no change in tax rates for salaried group as Aurangzeb wraps up budget discussion

Finance minister Aurangzeb says reduced sales tax to continue to apply on Hybrid Electric Vehicles, stationary items to remain exempted

Updated 25 Jun, 2024 07:32pm

Business & Economy

Finance Bill 2024: Senate proposes whopping 128 recommendations to National Assembly

Senate Standing Committee on Finance unanimously rejects increase in tax on low-tier salaried class, Chairman Saleem Mandviwalla says

Updated 24 Jun, 2024 11:02pm

Business & Economy

Aurangzeb assures ‘favourable outcomes’ for public, business in final budget

Finance Division says recommendations being noted and will be considered in finalisation of budget

Updated 24 Jun, 2024 10:50pm

Business & Economy

Danish FLSmidth keen to explore Pakistan’s mining sector

FLSmidth, a Danish multinational technology company, has expressed interest in Pakistan’s mining sector. The...

Updated 22 Jun, 2024 11:20pm

Business & Economy

Govt to see if it can ‘protect’ Pakistan’s salaried class further, says Aurangzeb

Finance minister says additional taxes could have been imposed, but salaried class was 'protected'

Updated 22 Jun, 2024 03:42pm

Business & Economy

FY2024-25: Balochistan govt presents Rs955.6bn provincial budget

Provincial govt proposes up to 25% increase in salaries, 15% raise in pensions

Updated 21 Jun, 2024 11:34pm

Business & Economy

Pakistan’s current account posts deficit of $270mn in May 2024

Overall, during 11 months of ongoing fiscal year, current account balance stands at deficit of $464mn

Updated 21 Jun, 2024 11:00pm

Business & Economy

Post-floods resilience: World Bank approves $535mn for two projects in Pakistan

Lender says additional financing will build on on-going efforts to equip Pakistan’s social protection system with policy and delivery system foundations necessary for more effective and rapid responses to future crises

Updated 21 Jun, 2024 11:30pm

Business & Economy

‘Economic terrorism’: NA opposition leader assails govt in budget debate

Omar Ayub says economic hitman made budget for FY2024-25

Updated 20 Jun, 2024 10:07pm

Energy

Attacks by MNAs, MPAs on grid stations caused heavy financial loss: PESCO chief

The Chief Executive Officer (CEO) of Peshawar Electric Supply Company Limited (PESCO) has raised concern amid...

Updated 20 Jun, 2024 10:44pm

Business & Economy

Imposition of further taxes on salaried group to ‘accelerate brain drain’ in Pakistan: PBC

The Pakistan Business Council (PBC), the country’s largest corporate advocacy platform, has warned that the...

Updated 20 Jun, 2024 10:42pm

Business & Economy

Fitch Ratings says Pakistan’s ‘ambitious’ budget strengthens IMF deal prospects

Believes tight policy settings may depress growth more than the government expects, reduces growth forecast to 3% for FY25

Updated 19 Jun, 2024 10:06pm

Business & Economy

Govt eyes revenue boost, expenditure cut to revive economy: Aurangzeb

Finance minister says federal government will shut down parallel ministries or departments devolved to provinces

Updated 19 Jun, 2024 08:53am

Business & Economy

Pakistan’s budget to support negotiations with IMF for new programme: Moody’s

Says government spends more than half its revenue on interest payments, indicating very weak debt affordability which drives high debt sustainability risks

Updated 14 Jun, 2024 07:40pm

Business & Economy

Post-budget presser: govt wants to enhance tax-to-GDP ratio to 13% in 3 years, says Aurangzeb

Finance minister hopeful Pakistan will reach Staff-Level Agreement with International Monetary Fund (IMF) by July

Updated 10 Jun, 2024 11:01pm

Business & Economy

China, Pakistan agree to strengthen mining, oil and gas cooperation

The countries will promote investment by Chinese firms in Pakistan's mining industry, and strengthen the planning of mining industry parks, including deep processing of ores

Updated 09 Jun, 2024 10:44pm

Business & Economy

PM Shehbaz, President Xi agree to upgrade CPEC, advance development in second phase

Premier underlines Islamabad's commitment and full support for safety and security of Chinese nationals, projects, and institutions in Pakistan

Published 07 Jun, 2024 10:41pm

Business & Economy

Pakistan receives record remittances of $3.24bn in May, up over 54% YoY

Inflows from Saudi Arabia, UAE, UK dominate overall amount

Updated 07 Jun, 2024 09:36pm

Business & Economy

Pakistan should ‘abandon’ CGT once and for all: co-founder of Tundra Fonder

Remarks come over rumoured proposal to increase taxation on Pakistan's capital markets

Updated 03 Jun, 2024 10:52pm

Business & Economy

Pakistan’s headline inflation decelerates further to 11.8% in May 2024

CPI-based figure lowest after 29 months, making case for rate cut stronger

Updated 03 Jun, 2024 08:36pm

Business & Economy

Govt reduces petrol price by Rs4.74, HSD’s by Rs3.86 per litre

New prices come into effect from June 1, 2024

Updated 01 Jun, 2024 12:46am

Business & Economy

Pakistan farmers pin poor mango crop on climate change

TANDO ALLAHYAR: Pakistan’s mangoes are normally a source of national pride and much-needed income, but farmers are...

Published 31 May, 2024 01:44pm

Energy

Saudi Aramco completes acquisition of 40% stake in GO Pakistan

Acquisition represents energy giant first downstream retail investment in Pakistan, says company

Updated 31 May, 2024 08:28pm

Business & Economy

Pakistan’s FY25 budget to be presented on June 10, sources say

ISLAMABAD: Pakistan will present the financial year 2024/25 annual budget on June 10, two government sources said on...

Updated 31 May, 2024 11:18pm

Business & Economy

Ministry of Finance expects inflation to fall further to 13.5-14.5% in May

Govt's commitment to curbing inflation through stringent administrative measures paints a promising picture for the inflation outlook

Updated 29 May, 2024 10:26pm

Business & Economy

Home-grown economic uplift: PM includes eight more experts into committee

Prime Minister Shehbaz Sharif has included another eight economic experts, including professors from the...

Updated 28 May, 2024 10:33pm

Business & Economy

Pakistan ranked 101st out of 119 in WEF’s Travel and Tourism Development Index

Pakistan was positioned a lowly 101st out of 119 countries in the Travel and Tourism Development Index published...

Published 28 May, 2024 04:10pm

Business & Economy

With Beijing’s assistance, Gwadar port to transform into logistics hub, says Shehbaz

PM invites Chinese businesses especially the textile sector to set up industries in Pakistan

Updated 28 May, 2024 08:15pm

Business & Economy

US ambassador Blome reiterates support for Pakistan’s economic reform agenda

Emphasises that United States remains Pakistan’s largest export market

Updated 27 May, 2024 10:23pm

Business & Economy

UAE, KSA investments to come through SIFC, says PM Shehbaz

Remarks come during the 10th Executive Committee meeting of the SIFC

Updated 25 May, 2024 08:25pm

Energy

At JCC meeting, Pakistan seeks Chinese assistance in key energy projects

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal sought Chinese assistance for the...

Updated 24 May, 2024 08:29pm

Business & Economy

IMF, Pakistan make ‘significant progress’ towards staff-level agreement, lender says

Pakistan's reform programme also broadly outlined in statement

Updated 24 May, 2024 03:04pm

Business & Economy

UAE allocates $10bn for investment in Pakistan’s ‘promising economic sectors’

Announcement comes following talks between UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Pakistan Prime Minister Shehbaz Sharif in Abu Dhabi

Updated 24 May, 2024 09:25am

Business & Economy

‘Not here to seek loans’: Pakistan needs to replicate UAE model of transforming economy, says PM

Premier is on day-long visit with investment pitch on the agenda

Updated 23 May, 2024 10:45pm

Energy

Energy-starved Pakistan is seeking sanction-free Iranian gas, says Musadik Malik

Petroleum minister stresses that Pakistan is a 'poor country' and cannot afford sanctions

Updated 22 May, 2024 09:24pm

Business & Economy

Brokerage houses see Pakistan’s headline inflation falling below 14% in May

Two brokerage house said they see CPI-based inflation reading to post a steep decline, and hover around 13-14% in...

Updated 21 May, 2024 08:57pm

Business & Economy

Agri, industries perform: Pakistan posts 2.09% growth in Q3FY24, says NAC

Revises Q1 and Q2 estimates upwards to 2.71% and 1.79%, respectively
Targets GDP growth of 2.4% in FY24

Updated 21 May, 2024 10:07pm

Business & Economy

Pakistan’s current account posts surplus of $491mn in April 2024

Overall, during 10 months of ongoing fiscal year, current account balance stands at deficit of $202mn

Updated 17 May, 2024 07:43pm

Business & Economy

Chinese firm keen to invest in Pakistan’s mineral sector, says Islamabad

Interest expressed by Chairman of MCC Tongsin Resources Wang Jicheng during a meeting with Prime Minister Shehbaz Sharif, according to information ministry

Published 13 May, 2024 09:55pm

Business & Economy

Citi expects Pakistan to strike new $8bn IMF deal by end-July

Recommends going long on the country's 2027 international bond

Updated 13 May, 2024 10:28pm

Business & Economy

Finance Minister says no such thing as strategic state-owned enterprises

Muhammad Aurangzeb says there will be a public-private partnership and we will accelerate the privatisation agenda

Updated 12 May, 2024 10:24pm

Business & Economy

Govt wants to attract investment from UK, other countries: PM

Premier says Pakistan and the United Kingdom enjoy long-standing relations that are further strengthening with the passage of time

Updated 12 May, 2024 01:33pm

Energy

‘Cost-side reforms’: IMF says Pakistan needs to revisit terms of power purchase agreements

Remarks come in staff report for the second and final review under $3-billion Stand-By Arrangement

Updated 11 May, 2024 08:08pm

Business & Economy

Downside risks for Pakistan remain exceptionally high, says IMF

While new government has indicated its intention to continue SBA’s policies, political uncertainty remains significant, Fund says

Published 11 May, 2024 12:54am

Business & Economy

PSO proposes swapping debt for stake in public sector companies

Everything will be done through competitive bidding and we will participate and if we win, the stakes will be offset against PSO’s receivables, says CEO Syed Muhammad Taha

Updated 09 May, 2024 10:28pm

Business & Economy

Aurangzeb says pension reforms on the cards as govt intends to curtail expenditure

Finance minister says slowing pace of inflation means a cut in key policy rate may start soon

Updated 07 May, 2024 10:09pm

Business & Economy

Iran, Pakistan seek ways to complete gas pipeline project: Iranian official

We see political determination from Pakistan to complete the project, says Iran's Consul General to Pakistan

Updated 06 May, 2024 10:16pm

Business & Economy

Aurangzeb hopes PIA privatisation is finalised by July

Finance minister says IMF mission expected to arrive in Pakistan in the next seven to ten days

Updated 06 May, 2024 09:49pm

Business & Economy

Pakistan ‘a high-priority’ destination for Saudi Arabia: Al-Mubarak

Ibrahim Al-Mubarak, Assistant Minister of Investment in the Kingdom of Saudi Arabia (KSA), said that the kingdom’s...

Updated 06 May, 2024 10:10pm

Business & Economy

High-level Saudi business delegation to arrive in Pakistan tomorrow

Trade delegation will comprise officials from 30 companies representing a range of sectors, including technology, energy, aviation, mining, and human resources

Updated 04 May, 2024 10:49pm

Business & Economy

Arif Habib, Gerry’s Group among 10 bidders as Pakistan pushes back deadline for EoI to buy PIA

ISLAMABAD: Islamabad will push back the deadline for companies to express interest in buying national carrier...

Updated 03 May, 2024 09:30am

Business & Economy

Pakistan’s trade deficit shrinks 18% YoY to $19.5bn in 10MFY24

Exports increase by 9.1% to $25.3bn, while imports decline 4.1% to $44.8bn

Updated 02 May, 2024 08:54pm

Business & Economy

Pakistan’s headline inflation decelerates further to 17.3% in April 2024

CPI-based figure is lowest in 23 months

Updated 02 May, 2024 10:18pm

Business & Economy

Govt reduces petrol price by Rs5.45, HSD’s by Rs8.42 per litre

New prices come into effect from May 1, 2024

Updated 01 May, 2024 12:51am

Business & Economy

Finance ministry sees headline inflation decelerating further to 18.5-19.5% in April

Expects further easing to 17.5-18.5% in May 2024

Updated 30 Apr, 2024 10:37pm

Business & Economy

IMF’s $1.1bn tranche to help Pakistan’s economic stability, says PM Shehbaz Sharif

Islamabad is also already looking at securing a 24th bailout from the IMF

Updated 30 Apr, 2024 10:39pm

Business & Economy

7th straight status quo: SBP holds key interest rate at 22%

Upcoming budgetary measures may have implications for the near-term inflation outlook, Monetary Policy Committee says in press release

Updated 29 Apr, 2024 09:53pm

Business & Economy

Pakistan’s economic condition shows improvement, but ‘needs surgery’: PM Shehbaz

ISLAMABAD: Pakistan’s economic indicators are showing positive signs, with an agenda of painful reforms and...

Updated 26 Apr, 2024 06:14pm

Business & Economy

IMF Executive Board to meet April 29 on Pakistan’s SBA

Approval will pave way for inflow of nearly $1.1bn

Updated 24 Apr, 2024 10:30pm

Business & Economy

Extend handshake to all neighbours including India, suggests Arif Habib to PM Shehbaz

Also advises improving relations with 'resident' at Adiala Jail, in reference to Imran Khan

Updated 24 Apr, 2024 07:35pm

Energy

Spotlight: Iran-Pakistan gas pipeline and some key facts

KARACHI: Iranian President Ebrahim Raisi’s visit to Pakistan this week put the spotlight on a major gas pipeline...

Published 24 Apr, 2024 03:42pm

Business & Economy

Aurangzeb expects central bank reserves to be $9-10bn by FY24-end

Finance minister sees FY24 economic growth at 2.6%, higher than expectations of IMF and World Bank

Updated 23 Apr, 2024 06:46pm

Business & Economy

Pakistan’s current account posts surplus of $619mn in March

Monthly surplus highest after nine years, and the third highest in Pakistan's history

Updated 22 Apr, 2024 10:23pm

Business & Economy

Aurangzeb pitches Pakistan’s ‘competitive advantages’ in meeting with UAE businesses

Federal Minister for Finance Muhammad Aurangzeb urged UAE businesses to enhance investment activity in Pakistan as...

Updated 22 Apr, 2024 10:15pm

Business & Economy

Aurangzeb says IMF ‘very receptive’ in agreeing to ‘larger, longer programme’: report

Federal Minister for Finance Muhammad Aurangzeb has said Pakistan is on track to secure a new deal with the...

Published 22 Apr, 2024 03:39pm

Business & Economy

Pakistan to launch Panda bonds in coming fiscal, says Aurangzeb

Remarks come during meeting with Chinese Finance Minister Lan Fo’an in Washington DC

Updated 20 Apr, 2024 07:31pm

Business & Economy

‘Reform’ package more important than size of next programme, says IMF

The International Monetary Fund (IMF) urged Pakistani authorities to accelerate the pace of reforms, as the country...

Updated 19 Apr, 2024 10:13pm

Business & Economy

Pakistan aims to agree outline of new IMF loan in May: Finance Minister

Bulk of Pakistan's bilateral debt is being rolled over, Aurangzeb says

Updated 19 Apr, 2024 10:30pm

Business & Economy

Pakistan hopes for Moody’s rating upgrade as economic indicators improve

Last year, Moody's downgraded Pakistan’s credit rating to ‘Caa3’

Updated 19 Apr, 2024 09:45pm

Business & Economy

Aurangzeb pitches bankable projects to attract Saudi, UK investments

Federal Minister for Finance and Revenue Muhammad Aurangzeb, in his meetings with officials of Saudi Arabia and...

Updated 19 Apr, 2024 04:10pm

Business & Economy

Pakistan’s inflation deceleration broad-based, says central bank chief

Jameel Ahmad says qualitative improvements in external account allowed the State Bank to more than double its foreign exchange reserves since January 2023

Updated 18 Apr, 2024 10:43pm

Business & Economy

Aurangzeb expects to avoid wild rupee devaluation as govt engages IMF: report

Finance minister categorically says he doesn't see need for 'step change' as Pakistan looks for another bailout from IMF

Updated 18 Apr, 2024 10:42pm

Business & Economy

Aurangzeb meets Donald Lu, other US officials

Finance Minister Muhammad Aurangzeb, who is currently in Washington attending World Bank-IMF Spring meetings being...

Updated 18 Apr, 2024 10:41pm

Cotton & Textile

Letter to finance minister: APTMA calls for ‘export-centric’ policies

The All Pakistan Textile Mills Association (APTMA) has called for an “export-centric” programme, stressing that high...

Updated 17 Apr, 2024 05:48pm

Business & Economy

US urges Pakistan to prioritise, expand economic reforms

State Dept spokesman says support for Pakistan's economic success is unwavering, and we will continue to engage with Pakistan through technical agreements

Updated 17 Apr, 2024 09:01pm

Business & Economy

World Bank, Pakistan agree on need for 10-year rolling country framework plan: Finance Division

Aurangzeb also shares reform agenda during meeting with World Bank chief

Updated 17 Apr, 2024 05:56pm

Business & Economy

Aurangzeb explains why Pakistan needs larger, longer IMF programme

Addressing Atlantic Council thinktank, finance minister says execution of structural reforms requires two to three years

Updated 16 Apr, 2024 06:50pm

Business & Economy

Pakistan and IMF discussing new multi-billion-dollar programme, finance minister says

Pakistan seeks at least a three-year programme with the IMF, says Aurangzeb

Updated 16 Apr, 2024 10:00pm

Business & Economy

Govt increases petrol price by Rs4.53, takes it to Rs293.94 per litre

The new prices take effect from April 16, 2024

Published 15 Apr, 2024 11:49pm

Business & Economy

IMF chief says Pakistan seeking potential follow-up loan program

Says Pakistan successfully completing its existing program with the IMF

Updated 12 Apr, 2024 09:32am

Business & Economy

Pakistan’s ‘Nazuk Mor’ is a Harvard Business School case study

You know your country has serious issues when it becomes a case study for potential future leaders and managers. In...

Updated 09 Apr, 2024 11:19pm

Business & Economy

Inflation woes have taken the shine off Pakistan’s Eid festivities

Mohammad Rizwan, a vendor selling children and women’s clothing off a side street from the main Tariq Road in...

Updated 09 Apr, 2024 10:12pm

Business & Economy

UN expects Pakistan’s GDP growth to clock in at 2% in 2024, improve further in 2025

Pakistan’s real GDP growth rate is expected to clock in at 2% in 2024 and inch up marginally to 2.3% in 2025, a...

Updated 05 Apr, 2024 10:10pm

Business & Economy

IMF Executive Board meeting expected ‘late April’

IMF official says growth and confidence are continuing to recover in Pakistan

Updated 05 Apr, 2024 10:22pm

Business & Economy

Pakistan’s central govt debt decreases marginally in February: SBP

Major decrease witnessed in central government external debt and short-term domestic debt

Updated 04 Apr, 2024 06:31pm

Business & Economy

PM Shehbaz urges enhanced trade and connectivity with Iran

In meeting with PM, Iranian ambassador affirms Tehran's desire to further strengthen relations with Pakistan in all areas of mutual interest

Published 02 Apr, 2024 10:42pm

Business & Economy

Pakistan canvasses interest in purchase of stake in PIA

KARACHI: Pakistan is putting on the block a stake ranging from 51% to 100% of loss-making national carrier Pakistan...

Updated 02 Apr, 2024 11:33pm

Business & Economy

In absence of major, sustained reforms, Pakistan to continue facing liquidity issues: World Bank

Poverty reduction projected to stall in medium term due to weak growth, low real labour incomes, and persistently high inflation, says lender in 'Pakistan Development Update'

Updated 02 Apr, 2024 11:38pm

Cotton & Textile

Pakistan’s textile exports up 3% YoY in March, clock in at $1.3bn

In 9MFY24, overall textile exports down marginal 0.3%, stand at $12.44bn

Updated 02 Apr, 2024 11:49pm

Business & Economy

Pakistan’s trade deficit shrinks 25% to $17.03bn in 9MFY24

However, trade deficit in March alone higher on yearly and monthly basis

Updated 01 Apr, 2024 10:10pm

Business & Economy

Pakistan’s headline inflation reading slows further to 20.7% in March

CPI-inflation reading drops to lowest level since May 2022, is now below key policy rate after over three years

Updated 01 Apr, 2024 09:44pm

Business & Economy

Govt hikes petrol price by Rs9.66, takes it to Rs289.41 per litre

The new prices take effect from April 01, 2024

Updated 31 Mar, 2024 11:51pm

Business & Economy

Finance ministry sees inflation at 22.5-23.5% in March

Says inflation outlook at moderate level despite upward revision of petrol prices and influence of Ramzan

Updated 29 Mar, 2024 10:12pm

Business & Economy

Aurangzeb holds key meeting with SBP governor

Federal Minister for Finance and Revenue Muhammad Aurangzeb on Friday convened a meeting with Governor of the State...

Updated 29 Mar, 2024 10:25pm

Business & Economy

Aurangzeb eyes fresh staff-level agreement with IMF by end of this fiscal year

Finance minister says imposition of super tax, windfall tax not sustainable

Updated 29 Mar, 2024 10:37pm

Business & Economy

Q2FY24: Pakistan sees GDP growth of 1%, below expectation

National Accounts Committee says agriculture sees 5.02% growth, but industrial sector contracts

Updated 28 Mar, 2024 10:34pm

Business & Economy

Headline inflation projected to stand at around 20% in March

Consumer Price Index (CPI)-based inflation in Pakistan is expected to decline further and may clock in at around 20%...

Updated 28 Mar, 2024 08:38pm

Business & Economy

July-February FY24: foreign investors’ profit repatriation soars 237%

Repatriation of profit and dividends by foreign investors was a massive 237% higher on a year-on-year basis during...

Updated 27 Mar, 2024 08:42pm

Business & Economy

International investors express interest in Pakistan’s PIA, airports, says aviation ministry

An adviser for the deal tells Pakistan’s ministry of defence production and aviation that 'seven international investors including Germany, France, Netherlands, Qatar, UAE, Malaysia and Turkiye have shown interest' besides local groups

Published 26 Mar, 2024 10:00pm

Business & Economy

PM Shehbaz says macroeconomic stability, growth priority of govt

Prime Minister Shehbaz Sharif on Tuesday said his government’s top priority is to ensure macroeconomic stability and...

Updated 26 Mar, 2024 06:32pm

Energy

Power sector woes: PM Shehbaz assigns tasks to ministries

Wants them completed in 1-3 months

Updated 25 Mar, 2024 10:23pm

Business & Economy

World Bank approves $150mn financing for two projects in Pakistan

Amount of $78mn approved for Digital Economy Enhancement Project (DEEP), while $71.7mn sanctioned as second additional financing for Sindh Barrages Improvement Project

Updated 23 Mar, 2024 09:19pm

Business & Economy

To boost reserves, Pakistan to tap China for $300mn Panda Bonds: report

In interview with Bloomberg, finance minister Aurangzeb says option should have been explored 'some time back'

Updated 22 Mar, 2024 10:24pm

Business & Economy

‘Difficult, but necessary’: analysts weigh in on future with IMF

Believe tougher measures are likely to follow as Pakistan moves to 'successor medium-term Fund-supported programme'

Updated 20 Mar, 2024 10:17pm

Business & Economy

FDI in Pakistan falls over 17% in 8MFY24

However, net FDI during February alone higher on yearly and monthly basis

Updated 20 Mar, 2024 09:55pm

Business & Economy

Pakistan, IMF reach staff-level agreement on final review of $3bn SBA

Subject to IMF board approval, Pakistan will have access to around $1.1bn

Updated 20 Mar, 2024 10:07pm

Business & Economy

Pakistan’s current account posts surplus of $128mn in February 2024

Overall balance stands at deficit of $1bn during 8MFY24 against $3.85bn in same period of FY23

Updated 19 Mar, 2024 09:56pm

Business & Economy

PM tells UAE ambassador: Pakistan wants stronger economic partnership

ISLAMABAD: Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi, Ambassador of the United Arab Emirates (UAE) to Pakistan,...

Published 19 Mar, 2024 04:53am

Business & Economy

Govt keeps petrol price unchanged, reduces HSD’s by Rs1.77 per litre

Revised prices to take effect from March 16

Published 15 Mar, 2024 11:23pm

Business & Economy

Govt focusing on macroeconomic reforms to stabilise economy: PM Shehbaz

In meeting with US envoy, prime minister emphasises need to maintain positive momentum by convening of existing dialogue mechanisms

Updated 15 Mar, 2024 11:22pm

Business & Economy

2nd review under IMF’s Stand-By Arrangement: discussions on structural reforms, energy sector held

Pakistan Finance Minister Muhammad Aurangzeb discussed structural reforms and energy sector viability in a meeting...

Updated 14 Mar, 2024 10:25pm

Business & Economy

China to help Pakistan overcome debt challenge: CG

FAISALABAD: Chinese debt is only 13 percent of the total foreign payable debt and its basic objective is to drag...

Updated 14 Mar, 2024 11:48am

Business & Economy

Govt considering incorporating agriculture, real estate into tax framework: Aurangzeb

Remarks come during finance minister's first visit to FBR, statement says govt looking at wholesale/retail, real estate, and agriculture sectors to broaden its tax base

Updated 13 Mar, 2024 09:43pm

Business & Economy

Second review of SBA with IMF to begin from March 14: Ministry of Finance

Pakistan has met all Structural Benchmarks, Qualitative Performance Criteria and Indicative Targets for successful completion of the IMF review, says ministry

Updated 13 Mar, 2024 10:40pm

Business & Economy

IMF team arriving in Pakistan for bailout review, sources say

ISLAMABAD: An International Monetary Fund (IMF) mission is arriving in Pakistan on Wednesday for a second and last...

Published 13 Mar, 2024 12:36pm

Business & Economy

PM Shehbaz urges efforts to boost Pakistan-Turkiye bilateral trade

Says both countries need to work together to achieve annual trade target of $5 billion

Published 12 Mar, 2024 10:19pm

Business & Economy

Here is PM Shehbaz’s cabinet: ministers and their portfolios

A 19-member federal cabinet of Prime Minister Shehbaz Sharif took oath at the Aiwan-e-Sadr on Monday. The federal...

Published 12 Mar, 2024 05:20pm

Business & Economy

Muhammad Aurangzeb takes over as finance minister as speculation ends

On his arrival at ministry, former HBL CEO was welcomed by Secretary Finance and senior officials

Updated 11 Mar, 2024 10:29pm

Business & Economy

IMF ready for formulation of 'new medium-term programme', responds to PTI's letter

Says it encourages fair and peaceful resolution of all electoral disputes

Updated 08 Mar, 2024 11:27pm

Business & Economy

SBA: IMF awaits formation of PM Shehbaz's cabinet ahead of sending mission for 2nd review

In press briefing, Julie Kozak, Director of Communications, says focus is on completion of current Stand-By Arrangement, IMF 'stands ready' to send mission

Updated 08 Mar, 2024 11:30pm

Business & Economy

Moody’s upgrades Pakistan’s banking sector outlook from negative to ‘stable’

Banks' profitability, stable funding and liquidity provide adequate buffer to withstand the country's macroeconomic challenges and political turmoil, says report

Updated 21 Feb, 2024 10:06pm

Business & Economy

Caretaker PM Kakar sees potential for international investors in Pakistan’s mineral sector

Addresses signing ceremony of joint venture agreement between Pakistan Mineral Development Corporation and US-based Miracle Saltworks Collective Inc. for state-of-the-art crushing and packaging plant in the country

Updated 20 Feb, 2024 10:09pm

Business & Economy

Election outcome in Pakistan ‘may complicate’ new IMF deal: Fitch

Pakistan’s vulnerable external position means securing financing from multilateral and bilateral partners will be 'one of the most urgent issues on the agenda for the next government'

Updated 02 Feb, 2024 09:38pm

Business & Economy

Pakistan’s headline inflation reading clocks in at 28.3% in January

Figure in line with official estimates that put CPI reading in range of 27.5-28.5%

Updated 01 Feb, 2024 05:42pm

Business & Economy

Caretaker govt increases petrol price by Rs13.55, HSD by Rs2.75

New prices of petrol and diesel are Rs272.89 and Rs278.96 per litre, respectively

Published 31 Jan, 2024 11:54pm

Business & Economy

Finance ministry sees inflation at 27.5-28.5% in January

In its monthly economic outlook, ministry says there is slight moderation in outlook compared to preceding month

Updated 31 Jan, 2024 09:14pm

Business & Economy

Bloomberg survey says jailed ex-PM Imran Khan favoured most to run Pakistan’s economy

Twelve respondents, not named in the survey, were asked to rate four politicians from 1 to 5 on question of who is best to manage Pakistan's economy with 5 being the most positive

Updated 31 Jan, 2024 10:37pm

Business & Economy

Corruption Perception Index 2023: Pakistan’s rank improves 7 places

In Transparency International's (TI) latest Corruption Perception Index, Pakistan scores 29 out of 100 points

Updated 30 Jan, 2024 08:28pm

Business & Economy

SBP keeps key policy rate unchanged at 22%

Central bank governor conveys MPC has revised projected inflation figure for FY24 from 20-22% to 23-25%

Updated 29 Jan, 2024 09:48pm

Business & Economy

Govt announces 3% incentive for local handset manufacturers: Dr Saif

Looks to enhance production of high-end phones in Pakistan

Updated 29 Jan, 2024 10:57pm

Business & Economy

‘High chances of a coalition government’, says brokerage house as Pakistan braces for elections

Smooth transfer of power will help overcome concerns of international lenders, says Topline Securities

Updated 18 Jan, 2024 09:56pm

Commodities

Heat along the Red Sea: Pakistan’s exporters fret over shipments to EU, US

Freight charges more than double as Houthis threat forces ships to take longer route

Published 18 Jan, 2024 08:30am

Business & Economy

Pakistan’s FDI up nearly 35% in first six months of FY24

During November alone, net FDI amounted to $211.1mn, a 538% increase when compared with the same month of the previous year

Updated 17 Jan, 2024 10:52pm

Business & Economy

SBP says Pakistan has received $705.6mn from IMF

Pakistan has received a tranche of $705.6 million from the International Monetary Fund (IMF), said the State Bank of...

Updated 17 Jan, 2024 07:59pm

Business & Economy

DP World, Pakistan’s JW Holding sign MoU to develop SEZs in Pakistan

DP World, Dubai’s state-owned port giant, has signed a Memorandum of Understanding (MoU) with JW Holdings, a...

Updated 17 Jan, 2024 06:08pm

Business & Economy

Elections to pave way for economic stability in Pakistan, says Kakar

Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday said that all speculations regarding the upcoming general...

Updated 17 Jan, 2024 06:02pm

Business & Economy

Pakistan’s current account posts significant surplus of $397mn in December

Overall deficit during July-December FY24 stands at $831mn compared to $3.63bn in same period of FY23

Updated 17 Jan, 2024 08:33pm

Business & Economy

Govt slashes petrol price by Rs8 per litre; keeps HSD unchanged

New petrol price will be Rs259.34 per litre

Published 15 Jan, 2024 11:40pm

Business & Economy

Trade at key Afghanistan-Pakistan crossing stops over travel document dispute

Hundreds of trucks stranded, border still open to pedestrians

Updated 13 Jan, 2024 11:12pm

Business & Economy

IMF’s first review: proud moment, says Dr Shamshad Akhtar

Caretaker Minister for Finance, Revenue and Economic Affairs, Dr Shamshad Akhtar on Friday termed the successful...

Updated 12 Jan, 2024 05:02pm

Business & Economy

Macroeconomic conditions ‘have generally improved, but outlook remains challenging’, says IMF

Statement comes as Executive Board completes first review of the Stand-By Arrangement for Pakistan

Updated 12 Jan, 2024 07:04pm

Business & Economy

Exporter caution: ‘Pakistan’s ESG compliance can affect GSP-Plus status’

SpectrEco CEO Faraz Khan says exports could take hit unless businesses follow ESGs

Published 12 Jan, 2024 09:00am

Business & Economy

IMF Executive Board completes 1st review under SBA: finance ministry

Development allows for immediate disbursement of $700mn

Published 11 Jan, 2024 10:11pm

Business & Economy

‘Political turmoil’ in Pakistan to slow private sector growth: World Bank

The World Bank has raised concerns that heightened political uncertainty in Pakistan could slow down growth in the...

Updated 11 Jan, 2024 10:57pm

Business & Economy

Pakistan’s remittances clock in at $2.4bn in December, up 5.4% from November

Inflow 13.4% higher on yearly basis, Saudi Arabia remains biggest source of remittances in December

Updated 10 Jan, 2024 10:36pm

Business & Economy

‘Dubai remains popular segment’: Emirates expects strong growth out of Pakistan

Dubai-based Emirates, one of two flag carriers of the United Arab Emirates (UAE), projects strong growth coming out...

Updated 09 Jan, 2024 09:03pm

Business & Economy

Caretaker govt intends to make Pakistani markets accessible to MENA: Dr Ejaz

Caretaker Minister for Commerce, Industries & Investment, Dr Gohar Ejaz reiterated the government’s commitment...

Updated 09 Jan, 2024 09:58pm

Business & Economy

Caretaker govt formally launches ‘Pakistan Startup Fund’

Will aim to invest up to Rs2bn a year in startups

Updated 09 Jan, 2024 10:26pm

Business & Economy

PM Kakar orders ‘swift’ action against smuggling of commodities

Caretaker prime minister directs relevant authorities to ensure legal trade and complete documentation in border areas

Updated 08 Jan, 2024 10:44pm

Business & Economy

UN projects 2% growth in Pakistan in 2024

However, growth in South Asia is projected to remain robust at 5.2% in 2024

Updated 06 Jan, 2024 09:47pm

Business & Economy

Pakistan’s central govt debt at Rs63.4tr in November: SBP

Short-term domestic debt shows significant decline on monthly basis

Published 05 Jan, 2024 08:15pm

Stocks

10 minutes of chaos: KSE-100 reacts negatively as Senate approves resolution on election-delay

Sudden political uncertainty took a toll on investor sentiment at the Pakistan Stock Exchange (PSX) on Friday, with...

Updated 05 Jan, 2024 06:22pm

Energy

SSGC suspends gas supply to industries, CNG stations in Sindh again

The ongoing gas crisis continued to worsen in Sindh as Sui Southern Gas Company Limited (SSGC) on Friday announced...

Published 05 Jan, 2024 02:55pm

Stocks

Secure Logistics Group plans IPO, eyes raising at least $2.7mn: report

Pakistan’s Secure Logistics Group Ltd (SLG) is planning an initial public offering (IPO) ) at the Pakistan Stock...

Updated 05 Jan, 2024 06:11pm

Business & Economy

Govt establishes specialised tribunal for Pakistan’s telecom sector

Believes establishment of the tribunal will help lower burden on high courts concerning adjudication of technical matters

Updated 04 Jan, 2024 09:44pm

Business & Economy

‘Existential crisis’: tax the undocumented sector, urges PBC

Body says first task of incoming government will be to negotiate IMF programme, seek longer-term, reform-centric bailout

Published 03 Jan, 2024 07:30pm

Business & Economy

Pakistan’s bond rally may extend into 2024 contingent on another IMF bailout: report

Investors believe govt is expected to secure another bailout from IMF

Updated 03 Jan, 2024 09:44pm

Business & Economy

Pakistan’s trade deficit shrinks over 34% to $11.15bn in 6MFY24

Stood at $16.97bn in same period of the previous year

Updated 02 Jan, 2024 09:03pm

Business & Economy

Pakistan’s startup funding falls 77.2% in 2023

Total amount stood at $75.6mn against $332.4mn in 2022

Published 01 Jan, 2024 04:59pm

Business & Economy

Pakistan’s headline inflation reading clocks in at 29.7% in December

Reading is marginally higher than official estimates that put CPI reading in range of 27.5-28.5%

Updated 01 Jan, 2024 07:51pm

Business & Economy

IMF updates schedule: Executive Board to discuss Pakistan on January 11

The International Monetary Fund (IMF) included Pakistan on its Executive Board agenda on January 11, 2024, according...

Updated 01 Jan, 2024 07:53pm

Stocks

‘Tale of two halves’, but a year to remember for Pakistan stocks

An absolute return of nearly 55%, a USD-based return of 24%, and new peaks was the story at the PSX
Performance made KSE-100 best performing market in second half of 2023

Published 01 Jan, 2024 11:40am

Business & Economy

Govt keeps petrol, diesel prices unchanged for next fortnight

The prices go into effect on January 1, 2024

Published 31 Dec, 2023 11:27pm

Currency

When a stick reduces the pain: rupee still sees one of its worst years in 2023

Despite administrative measures, rupee saw 19.7% depreciation in 2023, which made it its fourth-worst year since the turn of the century

Updated 31 Dec, 2023 10:19pm

Business & Economy

Pakistan’s inflation projected to ease to 20-22% for FY24: SBP report

In Governor’s Annual Report 2022-23, SBP chief says central bank will keep inflation expectations anchored to achieve its medium term target of 5-7%

Updated 29 Dec, 2023 08:19pm

Business & Economy

Ministry of Finance projects inflation at 27.5-28.5% for December

In latest ‘Monthly Economic Update and Outlook’ report, it anticipates reading to further ease out to 24-25% in January

Updated 27 Dec, 2023 10:27pm

Commodities

Pakistan gets no offers in 110,000 T wheat tender

HAMBURG: No price offers were believed to have been submitted in a tender from Pakistan on Wednesday to purchase...

Published 27 Dec, 2023 02:03pm

Business & Economy

Enhancing exports ‘only way for sustainable growth’: Dr Shamshad

Speaking at launch of Export-Import Bank of Pakistan, caretaker minister says country needs to move away from excessive dependence on textile sector

Updated 21 Dec, 2023 09:41pm

Energy

Pakistan’s power generation cost jumps nearly 20% in November

Increase in fuel cost witnessed mainly due to a decline in nuclear, wind and, solar-based generation, says one brokerage house

Updated 20 Dec, 2023 05:00pm

Business & Economy

World Bank approves $350mn financing for Pakistan

Funds are to be used for Second Resilient Institutions for Sustainable Economy Operation, which aims to strengthen fiscal management

Updated 20 Dec, 2023 04:58pm

Business & Economy

Pakistan’s FDI up over 8% in first five months of FY24

During November alone, net FDI amounted to $131.4mn, a 12% increase when compared with the same month of the previous year

Updated 18 Dec, 2023 09:38pm

Forex

Pakistan’s current account posts surplus of $9mn in November

This is the first surplus since June 2023

Updated 18 Dec, 2023 05:35pm

Business & Economy

Govt slashes petrol price by Rs14, HSD by Rs13.5

New petrol and diesel prices will be 267.34 and 276.21 per litre, respectively

Published 15 Dec, 2023 11:41pm

Energy

Govt-KE draft agreements: ECC approves Power Division’s proposal

Directs Power Division to present matter related to KE’s generation enhancement plan to the CCOE

Updated 15 Dec, 2023 10:42pm

Business & Economy

Revolutionary measures in IT sector can stabilise economy: Dr Umar

IT minister says a dedicated National Cyber Crime Investigation Agency will replace FIA for cyber crimes

Updated 13 Dec, 2023 10:21pm

Business & Economy

‘High external funding risks’: Fitch maintains Pakistan’s rating at CCC

Notes there are risks pertaining to policy implementation as parties across the political spectrum have extensive record of failing to implement or reversing reforms agreed with the IMF

Updated 13 Dec, 2023 05:56pm

Business & Economy

COP28 in Dubai: 5 key takeaways for Pakistan

One of the world’s most important climate change conferences, the UN’s COP28, came to an end on Tuesday. With...

Updated 13 Dec, 2023 09:38am

Energy

Aramco to buy 40% equity stake in GO Pakistan

Planned acquisition is Aramco’s first entry into the Pakistani fuels retail market, Saudi Arabia's company says

Updated 12 Dec, 2023 06:38pm

Business & Economy

SBP seen holding key policy rate as monetary policy committee meets Tuesday

Pakistan's key rate was raised to an all-time high of 22% in June and has stayed unchanged for the last three rate meetings

Updated 11 Dec, 2023 09:32pm

Business & Economy

ADB approves $155.5mn funding to boost female access to finance in Pakistan

Says that while Pakistan’s financial inclusion has been improving, women are increasingly left behind with a large gender finance gap which currently stands at 34%

Updated 11 Dec, 2023 09:24pm

Business & Economy

$100 billion export vision: Pakistan eyes to reduce trade deficit with China

A 20-member delegation representing all sectors of Pakistan’s export sector will leave for China on Sunday

Published 09 Dec, 2023 04:50pm

Business & Economy

Pakistan’s remittances clock in at $2.3bn in November, down 8.6% on monthly basis

On yearly basis, inflow up 3.6%

Published 08 Dec, 2023 10:04pm

Business & Economy

IMF Executive Board to meet Jan 11 on Pakistan’s loan programme: report

The International Monetary Fund’s (IMF) executive board will meet on January 11 to consider the final approval to...

Published 08 Dec, 2023 09:07am

Business & Economy

Pakistan’s future is ‘very bright’: IMF officials laud improvement in economic situation

It's one of the most important countries in the region and in the world. Pakistanis deserve much more,' says Bahador Bijani, IMF Executive Director

Updated 02 Dec, 2023 11:05pm

Business & Economy

Pakistan’s headline inflation reading clocks in at 29.2% in November

Inflation reading higher than October's when it stood at 26.9%

Updated 01 Dec, 2023 10:38pm

Business & Economy

Pakistan’s trade deficit narrows 34% to $9.38bn in 5MFY24

Stood at $14.28bn in same period of the previous year

Updated 01 Dec, 2023 10:44pm

Business & Economy

Pakistan’s economy grows 2.13% in 1st quarter of FY24: NAC

GDP for FY23 revised slightly downward from growth of 0.29% to contraction of 0.17%

Published 28 Nov, 2023 10:43pm

Business & Economy

Profit repatriation from Pakistan rises massively, stands at $272.5mn in October

Cumulative profit repatriated during July-October FY24 stands at $485.4mn, compared to $71.3mn in same period of previous year

Updated 28 Nov, 2023 07:17pm

Business & Economy

ADB approves $180mn to improve Punjab’s water supply & waste management

'Developing Resilient Environments and Advancing Municipal Services in Punjab Project' expected to benefit as many as 1.5 million people

Updated 28 Nov, 2023 04:09pm

Business & Economy

Dar reiterates stance on Pakistan’s currency, calls rupee undervalued

Newly-nominated Leader of the House in Senate wants stakeholders to come onboard to resolve exchange rate issue

Updated 27 Nov, 2023 10:57pm

Business & Economy

Kohinoor Spinning, Abu Dhabi-based group enter MoU for mineral-based business in Pakistan

Nation Trust Holding (TNTH) plans to invest AED30mn, says KOSM in PSX notice

Updated 27 Nov, 2023 10:55pm

Commodities

Pakistan tenders to buy 110,000 metric tons wheat

HAMBURG: A government agency in Pakistan has issued an international tender to purchase and import 110,000 metric...

Published 27 Nov, 2023 03:57pm

Business & Economy

Privatisation of SOEs: caretaker PM Kakar says ‘tangible results’ expected by mid-January

Pakistan International Airlines (PIA) on priority in sell-off list
Interim prime minister also dismisses notion that people leaving Pakistan sign of failure

Updated 24 Nov, 2023 10:03pm

Business & Economy

Inflation expected to go over 28% in Nov following gas price hike: report

Consumer Price Index (CPI)-based inflation in November is expected to hit 28.26%, higher than 26.9%recorded in...

Updated 23 Nov, 2023 11:39pm

Business & Economy

Pakistan secures two-year extension in Marine Mammal Protection Act exemption period

The US Department of Commerce and the National Marine Fisheries Service (NMFS), a US federal agency, awarded...

Published 21 Nov, 2023 04:44pm

Exchange

Pakistan’s REER index jumps 7.5% MoM in October, now stands at 98.6

Nominal Effective Exchange Rate Index (NEER) increases 6.5% MoM in October to provisional value of 39.18 from 36.79 in September

Updated 20 Nov, 2023 10:14pm

Business & Economy

Pakistan’s current account deficit clocks in at $74m in October

Total imports stand at $5.17bn against $5.35bn in the same period of previous year

Updated 20 Nov, 2023 10:20pm

Business & Economy

Govt forms Industry Advisory Council

Council will be made up of 13 top industrial groups in the country
Dr Gohar Ejaz says he is thrilled to lead initiative as Federal Minister of Commerce and Industry

Updated 18 Nov, 2023 09:36pm

Business & Economy

Pakistan’s battered bonds rally again on fresh IMF hopes

LONDON: Pakistan’s dollar-denominated government bonds rallied as much as 3 cents, or roughly 4%, on Friday as they...

Updated 17 Nov, 2023 10:28pm

Energy

Asian Development Bank approves $250mn for power transmission network

ADB says Power Transmission Strengthening Project will help reinforce stability of national grid

Updated 17 Nov, 2023 08:49pm

Business & Economy

Cement body urges govt to stop implementation of axle load regime

Says decision will lead to a reduction in foreign exchange inflow

Updated 15 Nov, 2023 10:46pm

Business & Economy

IMF chief expects Pakistan loan review deal this week: Bloomberg TV

Remarks come as an IMF mission, led by Nathan Porter, is visiting Pakistan for the first review of the Stand-By-Arrangement

Updated 15 Nov, 2023 04:54pm

Business & Economy

Morgan Stanley Capital International November index review: No major change for Pakistan

Morgan Stanley Capital International (MSCI) Inc in its results of the November 2023 index review notified that there...

Updated 15 Nov, 2023 10:44pm

Energy

Despite India’s lack of interest, Pakistan focused on benefitting from TAPI: Kakar

Caretaker Prime Minister Anwaar-ul-Haq Kakar said Pakistan is ready to reap the benefits of the...

Updated 10 Nov, 2023 06:59pm

Business & Economy

Pakistan’s remittances clock in at $2.5bn in October, up 11.5% on monthly basis

On yearly basis, inflow up nearly 10%

Updated 10 Nov, 2023 10:13pm

Business & Economy

Reko-Diq Project: Pakistan hopeful of reaching deal with Saudi Arabia by December, says Kakar

Interim prime minister avoids commenting on sharing details of the commercial deal

Updated 08 Nov, 2023 10:57pm

Business & Economy

‘Contrary to popular belief, Pakistan among our best-performing markets’

A top official at financial institution GuarantCo says company’s model can help Pakistan develop infrastructure

Published 08 Nov, 2023 07:00am

Business & Economy

Why invest in Pakistan: panelists look for answers, but more questions spring up

A seasoned international technology investor, Sameer Chishty, who has recently become Chairman and CEO of Bol...

Published 06 Nov, 2023 09:02pm

Business & Economy

Dr Shamshad reaffirms Pakistan’s commitment to working closely with IMF

Statement from Finance Division comes as IMF Mission begins talks in Islamabad for review of $3 billion Stand-by-Arrangement

Updated 25 Oct, 2023 10:46pm

Energy

Gas tariff hike to bode well for Pakistan in upcoming IMF review: brokerage house

Topline Securities says chemical sector is likely to be significantly impacted as gas prices constitute a major part of total cost and impact is unlikely to be passed on to final consumers

Updated 24 Oct, 2023 10:31pm

Business & Economy

Inflation expected to come down to 26% in October: brokerage house

Amid drop in food prices, JS Global says CPI reading to go lower

Published 23 Oct, 2023 11:37am

Business & Economy

Brokerage house expects status quo in upcoming MPC meeting

The State Bank of Pakistan (SBP) is expected to keep the key policy rate unchanged in its upcoming Monetary Policy...

Published 20 Oct, 2023 05:06pm

Energy

Pakistan’s cost of power generation declines over 25% in September

Amid rising electricity bills, the cost of power generation in Pakistan registered a significant decline of over 25%...

Updated 20 Oct, 2023 09:59pm

Business & Economy

EV giant BYD considering investment in Pakistan, says Dr Ejaz

BYD, a Chinese auto conglomerate and the world’s largest electric vehicles (EVs) manufacturer, is considering...

Updated 19 Oct, 2023 04:05pm

Business & Economy

Pakistan completes projects worth $25bn under CPEC, says Kakar

Clean energy projects were expected to be completed in four to five years, adds the caretaker PM

Updated 18 Oct, 2023 10:23pm

Business & Economy

Kakar seeks Chinese investment in Pakistan’s renewable energy sector

Caretaker PM says such investments will help Pakistan reduce its burgeoning energy import bill

Updated 17 Oct, 2023 10:53pm

Business & Economy

Govt slashes petrol price by Rs40, high-speed diesel by Rs15 per litre

New prices to take effect from October 16, 2023

Published 15 Oct, 2023 11:55pm

Business & Economy

‘Comfortably placed’: SBP chief says end-Sept targets with IMF met

Remarks come during meetings with key international institutions organised by Barclays, JP Morgan, Standard Bank, and Jefferies

Updated 13 Oct, 2023 11:19pm

Business & Economy

Shamshad meets officials from World Bank, Morroco’s central bank

Caretaker finance minister discusses Pakistan's macroeconomic outlook and stabilization measures with WB managing director of operations

Updated 11 Oct, 2023 08:39pm

Business & Economy

Pakistan’s remittances clock in at $2.2bn in September, 5.5% higher on monthly basis

However, inflow 11% lower year-on-year
Cumulative figure for July-September stands at $6.33bn, nearly 20% lower compared with same three-month period of FY23

Updated 10 Oct, 2023 10:42pm

Business & Economy

PBC calls for investigation after Pakistan’s exports to China ‘underreported by $594mn’

Pakistan Business Council says FBR should also look into the possibility of loss of tax revenue

Updated 03 Oct, 2023 10:35pm

Business & Economy

Pakistan’s GDP projected to recover to 1.7% in FY24: World Bank

This is 'predicated on the robust implementation of the IMF Stand-By Arrangement, new external financing and continued fiscal restraint'

Updated 03 Oct, 2023 10:43pm

Business & Economy

Import compression: Pakistan’s trade deficit narrows 42% to $5.29bn in 3MFY24

Balance stood at $9.16bn in same period of previous year

Updated 02 Oct, 2023 06:19pm

Business & Economy

Pakistan’s headline inflation reading clocks in at 31.4% in September

Brokerage house says reading is in line with market expectations

Updated 22 Sep, 2023 03:34pm

Business & Economy

PM Kakar meets Rio Tinto CEO to discuss investment opportunities in Pakistan's mining sector

Jakob Stausholm assures the caretaker premier his team will coordinate with relevant authorities to explore business prospects in the country

Published 21 Sep, 2023 09:30pm

Business & Economy

Privatisation process initiated to make govt entities profitable: Fawad

Says caretaker setup is within the mandate entrusted upon by previous elected govt

Published 21 Sep, 2023 08:49pm

Business & Economy

Dr Shamshad shares salient features of draft SOEs policy

Caretaker finance minister says majority of directors on their boards should be independent

Updated 21 Sep, 2023 06:13pm

Business & Economy

Collect more taxes from the wealthy, protect the poor: IMF chief to Pakistan

Remarks come after IMF Managing Director Kristalina Georgieva meets Pakistan's Caretaker Prime Minister Anwaar-ul-Haq Kakar on sidelines of ongoing UNGA session in New York

Updated 21 Sep, 2023 09:48pm

Business & Economy

UAE restricts import of fresh, chilled meat from Pakistan via sea from October 10

Imports via air route, however, will not be affected

Updated 20 Sep, 2023 10:58pm

Business & Economy

SBP awards in-principle approval to 5 digital retail banks

These include HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank Pakistan Limited, Raqami Islamic Digital Bank Limited and Telenor Microfinance Bank Limited

Updated 20 Sep, 2023 06:40pm

Business & Economy

Caretaker commerce minister, SBP governor discuss export enhancement measures

'Met the esteemed governor SBP to discuss ways and means to increase liquidity of our exporters,' said Ejaz

Updated 20 Sep, 2023 04:19pm

Business & Economy

Downward revision: ADB sees Pakistan’s GDP growth to ‘recover modestly’ to 1.9% in FY24

Prospects closely tied to steadfast and consistent implementation of policy reforms to stabilise economy and rebuild fiscal, external buffers, it says

Updated 20 Sep, 2023 10:56pm

Energy

Pakistan’s power sector circular debt swells to Rs2.31tr in FY23

Despite massive increase in tariff, amount increases Rs57bn during fiscal year

Updated 19 Sep, 2023 08:51pm

Exchange

Pakistan’s REER index down 1.6% MoM in August, now stands at 90.1

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Updated 18 Sep, 2023 03:13pm

Business & Economy

Caretaker govt raises petrol price by another Rs26.02, takes it to Rs331.38 per litre

HSD price sees increase of Rs17.34, now stands at Rs329.18 per litre

Updated 16 Sep, 2023 12:21pm

Business & Economy

EC reforms, action against smuggling ‘not contradicting’ IMF conditions: Dr Shamshad

Caretaker finance minister says exchange rate not being manipulated

Updated 15 Sep, 2023 07:05pm

Business & Economy

Pakistan’s flag carrier PIA struggling to pay bills

LAHORE: Pakistan’s national flag carrier admitted Friday it was struggling to pay bills and wages after local media...

Published 15 Sep, 2023 06:08pm

Business & Economy

World Bank’s IFC doubles investment commitments in Pakistan to $1.5bn in FY23

The International Finance Corporation (IFC), a member of the World Bank, committed approximately $1.5 billion in...

Updated 13 Sep, 2023 04:55pm

Cotton & Textile

Asia apparel hubs including Pakistan face $65bn export hit from extreme weather, study shows

Using projections, researchers analyse future heat and flooding levels to estimate what would happen under a "climate adaptive" scenario and a "high heat and flooding" scenario

Updated 13 Sep, 2023 03:51pm

Business & Economy

Pakistan’s remittances clock in at $2.1bn in August, 24% lower YoY

However, inflow 3.1% higher on monthly basis

Updated 11 Sep, 2023 07:55pm

Business & Economy

World Bank indicates $2bn disbursement to Pakistan during FY24

Finance Minister Dr Shamshad Akhtar reaffirms Pakistan values its development collaboration with the bank

Published 09 Sep, 2023 09:44pm

Cotton & Textile

Pakistan’s textile exports fall 6% year-on-year in August, clock in at $1.48bn: APTMA

However, on monthly basis, exports increase 13% in comparison to July

Updated 09 Sep, 2023 11:05pm

Energy

Pakistan Gasport seeks country’s first spot LNG cargo in over a year

SINGAPORE: Pakistan Gasport is looking to buy a spot liquefied natural gas (LNG) cargo for November delivery, its...

Updated 08 Sep, 2023 02:11am

Business & Economy

Military not ‘overstepping even the slightest’, says caretaker PM Kakar

Interim premier says govt working with Pakistan's military on security and some economic initiatives

Updated 05 Sep, 2023 05:06pm

Business & Economy

Caretaker PM Kakar hopeful of $25bn investment from Middle East over 5 years

Says Reko Diq project is going to start soon

Published 04 Sep, 2023 11:38pm

Business & Economy

NFC award major reason behind govt’s inability to go after untaxed sectors: economist

Dr Ashfaque Hassan Khan says Islamabad loses incentive to tax undocumented economy as it loses big chunk of additional revenue

Updated 01 Sep, 2023 01:13am

Business & Economy

Inflation projected to be at 28.6% in August, says brokerage house

AHL says food prices expected to contribute significantly to this trend

Updated 29 Aug, 2023 05:59pm

Energy

Exorbitant power bills: Interim PM to hold emergency meeting tomorrow

Caretaker Prime Minister Anwaar-ul-Haq Kakar says consultations will be held regarding giving maximum relief to consumers on electricity bills

Updated 26 Aug, 2023 06:27pm

Business & Economy

For Pakistan’s consumers and industries, economic woes are far from over

Pakistan’s last-minute deal with the International Monetary Fund (IMF) has given Islamabad some breathing room as...

Published 18 Aug, 2023 05:56pm

Business & Economy

Pakistan’s current account deficit clocks in at $809mn in July, highest since October 2022

Total imports stand at $5.03bn against $6.07bn in the same period of previous year

Updated 31 Jul, 2023 05:34pm

Energy

Pakistan oil companies sign MoU to collaborate with Saudi Aramco on $10bn refinery

Project will have significant foreign investment from energy giants through equity participation

Updated 27 Jul, 2023 10:48pm

Business & Economy

China’s EXIM Bank has rolled over $2.4bn loans, says Ishaq Dar

Pakistan will only make interest payments in both years, the finance minister adds

Updated 27 Jul, 2023 03:47pm

Business & Economy

Ministry of Finance expects inflation ‘to ease out’ in July

In 'Monthly Economic Update & Outlook' for July, it says recent decrease in administered prices of petrol and diesel will be transmitted into lower domestic prices of essential items

Updated 26 Jul, 2023 07:07pm

Business & Economy

Reforms essential for economic growth, restructuring: PM Shehbaz

Prime Minister Shehbaz Sharif on Wednesday said reforms are needed in order to ensure economic growth in...

Updated 26 Jul, 2023 08:31pm

Business & Economy

CPI reading likely to decrease in July: brokerage house

AHL says it expects inflation to clock in at 26.4%

Updated 26 Jul, 2023 04:30pm

Energy

PM Shehbaz expects ‘positive results amid improved energy and agri production’

Prime Minister Shehbaz Sharif on Tuesday reiterated the country has managed to avert a ‘sovereign default’ while...

Updated 21 Jul, 2023 08:34pm

Business & Economy

Dar says no plan to impose new taxes on agriculture, construction sectors

Statement comes during National Assembly session on Friday

Updated 21 Jul, 2023 06:15pm

Business & Economy

Authorities to continue crackdown against ‘loan shark apps’ in Pakistan: official

Head PM Strategic Reforms Salman Sufi shares list of loan apps blocked by authorities so far

Updated 20 Jul, 2023 04:50pm

Business & Economy

FY23: ADB says Pakistan’s economy weighed down by tighter monetary, fiscal policies

The Asian Development Bank (ADB) on Wednesday said Pakistan’s economic growth in the fiscal year 2023 remained lower...

Published 19 Jul, 2023 04:30pm

Business & Economy

IMF urges Pakistan to continue monetary policy tightening cycle

Tightening cycle should continue if needed to reduce inflation and facilitate external rebalancing, says staff report

Published 18 Jul, 2023 10:56pm

Business & Economy

Pakistan in ‘safe zone’: Ishaq Dar

Finance Minister Ishaq Dar said on Tuesday that Pakistan is now in the ‘safe zone’ after efforts of the incumbent...

Updated 18 Jul, 2023 06:11pm

Business & Economy

Pakistan reports 4th successive monthly current account surplus in June

Current account deficit shrinks 85.4% to $2.56bn in FY23
Development driven mainly by import restrictions due to dollar shortage

Updated 18 Jul, 2023 04:34pm

Business & Economy

PM Shehbaz says China’s Exim Bank has rolled over $600mn loan

ISLAMABAD: China’s Exim Bank has rolled over a $600-million loan, Prime Minister Shehbaz Sharif said at the launch...

Updated 18 Jul, 2023 06:10pm

Business & Economy

YoY: Pakistan’s trade deficit shrinks 43% to $27.6bn in FY23

In FY22, trade deficit stood at a whopping $48.35 billion
Contraction in deficit comes on back of restrictions on imports

Updated 19 Jul, 2023 03:07pm

Business & Economy

Illegal loan apps: govt bans dozens as crackdown finally begins

After several reports, the government’s Ministry of IT and Telecom has finally decided to take action against...

Updated 17 Jul, 2023 06:06pm

Business & Economy

Ishaq Dar notifies Rs9 per litre reduction in petrol price

Petrol to be priced at Rs253, diesel's rate sees cut of Rs7 to stand at Rs253.5 per litre

Published 15 Jul, 2023 10:43pm

Stocks

Brokerage house AHL expects KSE-100 to provide upside of 24% in FY24

AHL says KSE-100 could power past 56,000 level by June 2024

Updated 15 Jul, 2023 11:52pm

Business & Economy

PM Shehbaz says govt has tried to normalise ties with US

Premier says the previous government damaged Pakistan's relationship with Washington

Updated 15 Jul, 2023 09:18pm

Business & Economy

After Saudi Arabia and UAE deposits, Pakistan expects another $2.6bn in financing: report

Pakistan will draw $5.6 billion in financing, Bloomberg News reported on Friday, an amount that includes inflows...

Updated 14 Jul, 2023 09:00pm

Forex

IMF delves into reasons behind ‘shorter’ programme with Pakistan

Nine-month Stand-By Arrangement provides time to implement policies critical to strengthening Pakistan's economic situation, says IMF’s Director of Strategic Communications Julie Kozack

Updated 14 Jul, 2023 08:59pm

Business & Economy

After SBA approval, this is how IMF projects Pakistan’s economy will perform in FY24

In contrast to the government’s targeted economic growth of 3.5%, the International Monetary Fund (IMF) has...

Updated 13 Jul, 2023 06:22pm

Forex

IMF deposits $1.2bn in SBP: Ishaq Dar

During the week, Pakistan has received $4.2bn from different avenues including Saudi Arabia, UAE, and the Washington-based lender
SBA with IMF will now see two more reviews - in November and February

Updated 13 Jul, 2023 06:02pm

Forex

Pakistan dollar bonds rally after IMF clears $3bn bailout

LONDON: Pakistan’s sovereign dollar bonds gained as much as 1.7 cents, Tradeweb data showed on Thursday, after the...

Published 13 Jul, 2023 01:08pm

Business & Economy

World Bank board approves $100mn for ‘Punjab Family Planning Program’

Project aims to provide timely access to quality family planning services free of charge

Updated 13 Jul, 2023 04:48pm

Business & Economy

IMF Executive Board approves $3bn Stand-By Arrangement for Pakistan

Board’s approval allows for an immediate disbursement of SDR894 million or about US$1.2 billion

Updated 12 Jul, 2023 11:57pm

Business & Economy

UAE has deposited $1bn in Pakistan’s central bank: Ishaq Dar

Finance minister says SBP-held foreign exchange reserves have gotten another boost after $2bn inflow from Saudi Arabia

Updated 12 Jul, 2023 07:57pm

Energy

Pakistan negotiating for a second discounted Russia crude shipment

ISLAMABAD: Pakistan is negotiating to buy a second shipment of discounted Russian crude oil, the South Asian...

Updated 12 Jul, 2023 08:08pm

Energy

Majority owners of offshore holding seek direct stake in Pakistan’s K-Electric

KARACHI: The majority shareholders of an offshore holding company that owns most of Pakistani power company...

Published 12 Jul, 2023 02:27pm

Business & Economy

‘Govt accepts IMF programme with heavy heart’: PM inaugurates first phase of Fata varsity in Peshawar

PESHAWAR: In a somber acknowledgment of the prevailing economic hardships, Prime Minister Shehbaz Sharif said on...

Published 12 Jul, 2023 06:39am

Business & Economy

$77.8mn funding secured for Recharge Pakistan project: Sherry Rehman

Project aims to build Pakistan’s climate resilience and water security through cost-effective ecosystem-based adaptation

Updated 11 Jul, 2023 05:20pm

Business & Economy

Fitch upgrades Pakistan to ‘CCC’ after IMF deal

Long-Term Foreign-Currency Issuer Default Rating (IDR) improved due to 'Pakistan's improved external liquidity and funding conditions following staff-level agreement'

Updated 10 Jul, 2023 06:41pm

Business & Economy

World Bank approves $46mn financing for KPK’s healthcare sector

Funding will support both supply and demand side interventions to improve health service delivery in the province

Updated 07 Jul, 2023 08:34pm

Business & Economy

IMF ‘seeks assurances’ from Pakistan’s political parties on commitment to new SBA

IMF official says lender's staff in process of meeting representatives from PML-N, PTI, PPP

Updated 07 Jul, 2023 05:37pm

Business & Economy

IMF programme to ‘reform and restructure’ Pakistan’s economy: PM Shehbaz

Prime Minister Shehbaz Sharif said on Friday that the recently-announced International Monetary Fund (IMF) programme...

Updated 07 Jul, 2023 03:36pm

Business & Economy

UAE minister says keen to invest in Pakistan’s renewable energy sector

Wants to identify projects to work with counterparts in the country

Updated 06 Jul, 2023 05:10pm

Business & Economy

Govt striving to turn country into global export hub: Ahsan

ISLAMABAD: As the country’s exports fell by 12 percent during the first 10 months of FY 2023, Federal Minister for...

Published 06 Jul, 2023 05:42am

Business & Economy

IMF’s Executive Board meeting on Pakistan set for July 12

The Fund is set to discuss a nine-month stand-by arrangement for Pakistan as the previous Extended Fund Facility expired on June 30

Updated 06 Jul, 2023 09:55am

Business & Economy

PCAA, association spar over ‘exorbitant’ UK exam fee for pilots

A private association of aircraft owners and operators and Pakistan Civil Aviation Authority (PCAA) are currently...

Published 05 Jul, 2023 09:11pm

Business & Economy

US apprised of IMF’s $3bn Stand-By Arrangement for Pakistan

Federal Minister for Finance and Revenue Ishaq Dar met with US Ambassador to Pakistan Donald Blome on Wednesday, and...

Updated 05 Jul, 2023 04:27pm

Business & Economy

Economy will stabilise now, says Dar after IMF deal

Finance Minister predicts country's foreign exchange reserves to reach $14 billion in July

Published 04 Jul, 2023 12:00am

Business & Economy

Moody’s, Fitch see lingering risks despite Pakistan-IMF deal: report

Pakistan is staring at $25bn debt repayment in fiscal year 2023-24, and a widening current account deficit could pose problems

Published 03 Jul, 2023 08:16pm

Business & Economy

Lowest reading since Jan: Pakistan’s headline inflation slows to 29.4% in June

Inflation in May had hit a record high at 38%
June's reading takes FY23 average to 29.18% compared to 12.15% in FY22

Updated 03 Jul, 2023 07:04pm

Currency

‘Significant, but chance to make reforms’: experts react on Pakistan, IMF deal

Pakistan achieved a significant breakthrough by signing a new nine-month Stand-By Arrangement (SBA) deal with the...

Updated 01 Jul, 2023 07:28pm

Business & Economy

Govt keeps petrol price unchanged, increases rate of high-speed diesel by Rs7.5

Says hike in HSD due to increase of $3.5 per barrel in the international market

Updated 01 Jul, 2023 07:39pm

Business & Economy

PM Shehbaz hails IMF’s $3bn stand-by arrangement with Pakistan

Thanks IMF Managing Director and team for 'cooperation and collaboration'

Updated 01 Jul, 2023 08:55am

Business & Economy

As it happened: Pakistan’s last-gasp IMF bailout

KARACHI: Pakistan finally reached a staff-level agreement with the International Monetary Fund (IMF) to release $3...

Updated 01 Jul, 2023 08:56am

Business & Economy

A new stand-by arrangement with the IMF: here are some key points

After a massive delay, govt succeeds in convincing IMF to allot it more money than expected

Published 30 Jun, 2023 12:39pm

Business & Economy

Pakistan, IMF reach staff-level agreement on new $3bn stand-by arrangement

Agreement subject to approval by the IMF Executive Board, with its consideration expected by mid-July

Updated 30 Jun, 2023 11:11pm

Business & Economy

Dar says Pakistan expects IMF deal in next 24 hours

Country is racing against time to unlock funds ahead of the scheduled end of the programme today

Updated 30 Jun, 2023 10:15am

Business & Economy

Aim to quickly reach agreement on financial support, says IMF

IMF Mission Chief Nathan Porter says Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform programme, will continue discussions

Updated 27 Jun, 2023 10:29pm

Business & Economy

Dar says govt ‘making efforts’ to secure more than $1.1bn in IMF funding

Finance minister expresses hope that Pakistan would get 'balance amount' which stands at nearly $2.6bn

Published 27 Jun, 2023 09:40pm

Forex

Lying in wait for IMF, Pakistani rupee witnesses record depreciation in FY23

Hammered by the deteriorating macroeconomic situation in the country, the Pakistani rupee witnessed a record level...

Published 27 Jun, 2023 07:01pm

Financial

PM Shehbaz holds telephonic conversation with IMF MD Georgieva

Pakistan hopes for IMF decision over stalled bailout programme in a day or two

Updated 27 Jun, 2023 04:52pm

Energy

Second cargo carrying Russian crude oil arrives in Pakistan

A Russian oil vessel ‘Clyde Noble’ carrying crude oil reached Karachi on Tuesday and is currently anchored at the...

Updated 28 Jun, 2023 12:20am

Business & Economy

Pakistan will look to impose Rs215bn additional taxes after IMF talks: Dar

Finance minister says 'we have ensured impact of these taxes will not be passed to downtrodden' in address to wind up Federal Budget 2023-24 debate in National Assembly

Updated 25 Jun, 2023 09:00pm

Business & Economy

Paris summit: PM Shehbaz holds talks with EU, IsDB chiefs

Takes stock of ongoing projects with Islamic Development Bank president
Conveys commitment to Ursula von der Leyen regarding working in close collaboration with European institutions

Updated 23 Jun, 2023 04:48pm

Stocks

Pakistan bonds advance after Zambia clinches debt restructuring deal: report

Pakistan’s 8.25% 2024 bond was indicated climbing half a cent to about 50 cents on the dollar, reported Bloomberg

Updated 23 Jun, 2023 02:59pm

Business & Economy

UAE’s AD Ports signs deal with KPT to operate Karachi Terminal

Joint venture between Kaheel Terminals and majority shareholder AD Ports Group to invest $220mn in new concession and growth capital expenditure over the first 10 years

Updated 22 Jun, 2023 05:51pm

Business & Economy

Paris summit: PM Shehbaz meets Saudi crown prince MBS

Prime Minister Shehbaz Sharif met Prime Minister and Crown Prince of Saudi Arabia Muhammad bin Salman on Thursday,...

Updated 22 Jun, 2023 09:10pm

Business & Economy

AD Ports UAE, KPT deal: committee recommends agreement for cabinet approval

The Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) on Thursday recommended the commercial...

Published 22 Jun, 2023 01:57pm

Business & Economy

PM Shehbaz meets IMF MD Georgieva with hope of programme revival

Meeting comes on sidelines of Summit for a New Global Financial Pact being held in Paris
IMF chief shares her institution’s perspective on the ongoing review process, says PMO statement

Updated 22 Jun, 2023 05:53pm

Energy

ECC approves recovery of Rs1.52 per unit surcharge from KE consumers

Also approves another summary of Ministry of Commerce regarding amendment in the relevant clause in the Import Policy Order 2022 to allow government agencies to import pharmaceutical raw materials

Updated 21 Jun, 2023 06:31pm

Business & Economy

As Islamabad scrambles, Dar meets US ambassador to alleviate concerns on Pakistan’s budget

Finance minister says measures for fiscal year 2023-24 are aimed at reducing fiscal gap in order to meet national as well as international financial obligations

Updated 21 Jun, 2023 05:25pm

Business & Economy

Pakistan ranked in bottom 5 of World Economic Forum gender gap report

Despite relatively high disparities, parity in literacy rate and enrolment in secondary and tertiary education are gradually advancing, says report

Updated 21 Jun, 2023 05:02pm

Business & Economy

Govt unveils ‘Economic Revival Plan’ as Pakistan deals with distress

Plan envisages capitalising Pakistan’s untapped potential in key sectors of defence production, agricultural, livestock, minerals, mining, IT and energy through indigenous development and investments from friendly countries

Updated 20 Jun, 2023 10:16pm

Energy

Pakistan LNG fails to secure cargoes for Oct-Dec: report

Pakistan LNG Limited (PLL), a government subsidiary that procures LNG from the international market, has not...

Updated 20 Jun, 2023 08:18pm

Business & Economy

UK’s Developing Countries Trading Scheme comes into effect for Pakistan

Replaces Generalised Scheme of Preferences (GSP)
Pakistan retains enhanced preferences status, will continue to benefit from duty-free exports to the UK on 94% of goods exported

Published 20 Jun, 2023 02:12pm

Business & Economy

China has come to Pakistan’s rescue as IMF programme faces ‘inordinate delay’: PM Shehbaz

Remarks made during MoU signing ceremony of a 1,200MW Chashma 5 (C5) nuclear power project

Updated 20 Jun, 2023 08:17pm

Forex

IMF’s criticism of Pakistan’s budget raises default odds: Bloomberg

If IMF aid doesn’t come this month, it expects growth to be much weaker in fiscal 2024 than the current forecast of 2.5%

Updated 19 Jun, 2023 08:07pm

Business & Economy

Ishaq Dar pacifies PPP over budget concerns

Earlier, PPP Chairman Bilawal had said budget had very little input from his party, especially on issues of climate change and rehabilitation of flood affectees

Updated 19 Jun, 2023 05:50pm

Business & Economy

Securing refinancing: govt cleared dues of Chinese banks in advance, says Ishaq Dar

Finance minister says $300 million expected from China in 3-5 days

Published 17 Jun, 2023 07:04pm

Business & Economy

‘Same discount as for others’: Russian minister says Pakistan not receiving ‘special’ rate

Energy minister Nikolai Shulginov also says Russia agreed payment would be made in currencies of friendly countries

Updated 17 Jun, 2023 10:07pm

Business & Economy

In tit-for-tat response, Pakistan says FY24 budget ‘was never a part of IMF 9th review’

Govt says it is committed to IMF programme, wants to at least complete pending review

Updated 16 Jun, 2023 08:19pm

Business & Economy

Pakistan’s time being wasted, says Dar in reference to delay in IMF funding

Says global institutions want Pakistan to default like Sri Lanka and then enter negotiations

Updated 15 Jun, 2023 10:25pm

Business & Economy

Pakistan's ability to secure loans remains ‘severely constrained’ until new IMF programme: Moody’s

In issuer comment, Moody's says budget proposals also lack major revenue-rising or spending-containment measures to alleviate intense liquidity pressures

Updated 15 Jun, 2023 10:14pm

Business & Economy

IMF comes down hard on Pakistan’s budget proposals

Says draft misses opportunity to broaden tax base in progressive way
Criticises new tax amnesty scheme that runs against IMF programme’s conditionality/governance agenda, and creates a damaging precedent

Updated 15 Jun, 2023 09:00am

Energy

Pakistan LNG allowed to execute framework agreement with Azerbaijan’s SOCAR

ECC directs Ministry of Petroleum to determine LNG needs at least three months in advance on rolling basis

Published 14 Jun, 2023 03:27pm

Business & Economy

World Bank approves $200mn for newly-merged areas of KPK

The latest funding is part of programme agreed with the government to respond to last year's floods

Updated 14 Jun, 2023 07:54pm

Business & Economy

Paying for Russian oil in Chinese Yuan Pakistan’s own choice: US

US State Department spokesperson Matthew Miller says price cap imposed on Russian oil by Washington and allies has driven down price

Updated 14 Jun, 2023 12:26pm

Business & Economy

Moody’s says chances of Pakistan securing IMF bailout dwindling: report

Moody's analyst says Pakistan could default without an IMF programme

Updated 14 Jun, 2023 08:19pm

Energy

Pakistan seeks spot LNG cargoes for first time in nearly a year

SINGAPORE: Pakistan has issued two tenders seeking spot liquefied natural gas (LNG) cargoes for the first time in...

Updated 13 Jun, 2023 07:36pm

Energy

Russian oil: experts say ‘trial run’ vital to identify viability for Pakistan

Currently, details are not available, which makes it harder to assess cost impact for consumers

Updated 13 Jun, 2023 11:21pm

Business & Economy

Pak Suzuki extends shutdown of motorcycle plant till June 16

Pak Suzuki Motor Company (PSMC) has announced it will extend the shutdown of its motorcycle plant until June 16,...

Updated 13 Jun, 2023 03:49pm

Business & Economy

SBP chief says Pakistan not considering bilateral debt restructuring: Reuters

Development comes after Finance Minister Ishaq Dar's statement on possibility of restructuring bilateral debt

Published 12 Jun, 2023 07:10pm

Energy

Pakistan’s Russian crude shipment paid for in Chinese currency: Musadik Malik

Pakistan paid for its first government-to-government import of Russian crude in Chinese currency, State Minister for...

Updated 12 Jun, 2023 11:49pm

Business & Economy

Dar updates Chinese envoy on talks with IMF, budget

Finance Minister Ishaq Dar on Monday held a meeting with the Chinese envoy and discussed progress on the...

Published 12 Jun, 2023 05:41pm

Business & Economy

Post-budget press conference: Dar looks to pacify concerns

Says 'rescheduling domestic debt at present is foolishness'

Updated 10 Jun, 2023 07:37pm

Business & Economy

In budget 2023-24, Pakistan envisages over $19bn in external financing

To meet budgeted targets, govt says it will seek $2.4bn from IMF, another $4.5bn from commercial banks

Updated 09 Jun, 2023 11:11pm

Business & Economy

2023-24: Finance Minister Ishaq Dar says 3.5% growth targeted in ‘responsible budget’

Becomes fourth finance minister in four years to present federal budget

Updated 09 Jun, 2023 10:48pm

Business & Economy

How experts view the upcoming budget announcement

Business Recorder reaches out to experts to know their expectations for budget

Updated 09 Jun, 2023 05:22pm

Business & Economy

As budget announcement nears, here are some proposals that could affect you

Business Recorder sums up some of the proposals that have been under consideration by the govt

Published 09 Jun, 2023 03:09pm

Business & Economy

Under public and IMF’s watchful eyes, Ishaq Dar set to present federal budget shortly

Finance minister will be the fourth person in four years to unveil proposals

Updated 09 Jun, 2023 03:47pm

Business & Economy

Economic Survey 2022-23: Pakistan’s performance explained through graphs

The government of Pakistan presented the Economic Survey 2022-23 on Thursday. Business Recorder summarises the...

Published 08 Jun, 2023 09:57pm

Business & Economy

Dar puts onus of ‘another IMF programme’ on new govt

While unveiling Economic Survey 2022-23, finance minister says it will be 'undemocratic and unfair' to initiate talks with lender on new loan facility

Updated 08 Jun, 2023 08:50pm

Cotton & Textile

APTMA urges Dar to reinstate competitive energy tariffs

Textile body says if urgent measures are not taken to reinstate the RCET, trade deficit could increase by $4-5 billion

Updated 08 Jun, 2023 07:42pm

Business & Economy

Pakistan has to satisfy IMF on three counts including budget ‘consistent with programme objectives’

Resident representative says there is time for one last board review before scheduled end of Extended Fund Facility

Updated 08 Jun, 2023 08:17pm

Energy

TAPI Pipeline: Pakistan and Turkmenistan sign implementation plan

PM Shehbaz says pipeline crucial for region's prosperity

Updated 08 Jun, 2023 03:29pm

Business & Economy

There will be no winners, say experts ahead of budget announcement

Trapped in economic crisis coupled with political instability and lingering IMF programme, govt seems to have its hands tied

Updated 07 Jun, 2023 08:35pm

Business & Economy

Pakistan’s budget caught between IMF expectations and election

Former finance minister Miftah Ismail says govt will come up with a budget that is more or less in line with IMF prescriptions

Updated 07 Jun, 2023 06:18pm

Business & Economy

USAID announces $16.4mn for Sindh’s flood affectees

Assistance will address worsening food insecurity and malnutrition and help curb the spread of disease

Updated 07 Jun, 2023 03:24pm

Business & Economy

Pakistan proposes inflation target of 21% in estimates for upcoming FY24 budget: report

Pakistan has proposed a GDP (gross domestic product) growth target of 3.5% and an inflation projection of 21% in...

Updated 06 Jun, 2023 06:43pm

Business & Economy

Pakistan now hopes to ink deal with IMF before budget on Friday: report

Programme has been stalled at the ninth review since November last year with statements from officials insisting bailout is on track and will be revived soon

Updated 06 Jun, 2023 05:24pm

Business & Economy

ECC approves fixing maximum price of 49 new drugs

Also gives approval for issuance of government of Pakistan guarantee amounting to Rs9.5bn for the project construction of Hyderabad-Sukkur motorway on build-operate-transfer basis

Published 05 Jun, 2023 08:26pm

Industries & Sectors

IATA says blocked airline funds by countries including Pakistan threaten connectivity

Pakistan is among the top five nations in the world that have blocked airline funds

Updated 05 Jun, 2023 04:37pm

Business & Economy

Budget FY24: govt could take steps ‘to appease public’, says Topline

Facing massive political pressure, the government could take steps “to appease the public” in the upcoming budget...

Published 03 Jun, 2023 06:27pm

Business & Economy

Record inflation, but market says status quo in upcoming monetary policy

High-interest rate along with other macroeconomic measures have already put the brakes on economic growth, argues brokerage house

Updated 03 Jun, 2023 09:06pm

Business & Economy

Delay in IMF programme ‘unprecedented’, says Dar

Finance minister believes there is no technical reason for the delay
Slams 'pseudo-intellectuals' who have predicted country will default

Updated 03 Jun, 2023 08:09pm

Business & Economy

A day after company delegation meets PM, Indus Motor announces 1-week plant shutdown

Cites insufficient inventory levels to maintain production in notice to PSX on Friday

Updated 02 Jun, 2023 07:34pm

Business & Economy

Envoys of China, UAE meet Dar as IMF programme remains stalled

Dar apprises Chinese envoy of the country's economic situation and the progress in the ongoing IMF programme

Published 01 Jun, 2023 06:50pm

Business & Economy

Pakistan’s headline inflation hits new record at 38% in May 2023

Food inflation leads surge in general price levels

Updated 01 Jun, 2023 06:01pm

Business & Economy

IMF should not interfere in Pakistan’s political, domestic affairs: Aisha Ghaus Pasha

Minister of State for Finance says IMF's comment on Pakistan's domestic affairs is 'extraordinary', wants 'uncertainty' on bailout to end

Updated 31 May, 2023 05:22pm

Business & Economy

In crisis-hit Pakistan, rogue loan apps are adding to financial pain

LAHORE: Unemployed Pakistani software engineer Ali thought he had found a way to pay his overdue electricity bill...

Updated 31 May, 2023 05:03pm

Business & Economy

Inflationary pressure to persist in May, warns Ministry of Finance

Inflation in May is expected to be in the range of 34-36%, says Monthly Economic Update & Outlook

Published 30 May, 2023 06:38pm

Business & Economy

Pakistan to share budget details with IMF to unlock funds: finance minister

ISLAMABAD: Pakistan's Finance Minister Ishaq Dar said on Sunday the country will share its upcoming budget details...

Published 28 May, 2023 11:03pm

Business & Economy

Atif Mian ‘has no idea how practical economics operates’: Ministry of Finance

Economist's statement is a misplaced criticism made from a purely theoretical point of view, says Finance Ministry

Updated 27 May, 2023 06:48pm

Business & Economy

Ishaq Dar notifies cut in prices of oil, ghee at utility stores

Finance Minister Ishaq Dar on Friday announced that a cut in prices of oil and ghee by the Utility Stores...

Published 26 May, 2023 10:34pm

Business & Economy

Dar assures US envoy Blome of Pakistan’s commitment to IMF programme

Federal Minister for Finance Ishaq Dar on Friday assured US Ambassador Donald Blome that the Pakistan government...

Published 26 May, 2023 06:21pm

Business & Economy

Flood devastation: World Bank approves $213mn for Balochistan

Board of Executive Directors approves financing to improve livelihoods and essential services, enhance risk protection in communities affected by 2022 floods

Updated 26 May, 2023 04:27pm

Energy

Pakistan will see $10bn investment in refinery sector 'very soon': Musadik Malik

Says its details cannot be shared at the moment, pitches Pakistan as 'investment-friendly' country

Updated 25 May, 2023 07:23pm

Business & Economy

Pakistan will not default, reiterates Ishaq Dar

Finance minister says Pakistan will escape current difficult economic circumstances

Published 24 May, 2023 06:00pm

Forex

‘Nonsensical’: economist Atif Mian slams Pakistan govt’s policies

Criticises selling cheaper fuel at expense of GDP

Updated 24 May, 2023 05:21pm

Stocks

Plant, field installations remain safe, says Pakistan Oilfields after militant attack

Pakistan Oilfields Limited (POL), an operator of TAL block, said on Wednesday that all the plant and field...

Updated 24 May, 2023 05:22pm

Business & Economy

Despite challenges, Pakistan to avert default: report

KTrade report says Pakistan's commercial debt obligations are low, can be handled by careful management of current account balance and support of friendly countries

Updated 23 May, 2023 06:56pm

Business & Economy

Road network restoration: Reimbursement of Rs1.67bn expense borne by NHA allowed

ISLAMABAD: The government has allowed reimbursement of Rs1.666 billion borne by the National Highways Authority ...

Published 23 May, 2023 06:14am

Business & Economy

'False and unfounded': govt rejects reports IMF concerned about funds use for 'political purposes'

Finance Division says funds cannot be utilised for any purpose without the approval of the Parliament through the budget

Published 20 May, 2023 07:48pm

Business & Economy

Macroeconomic conditions deteriorated during first half FY23: SBP

Central bank says adverse global economic conditions, uncertainty surrounding IMF programme are major concerns

Published 19 May, 2023 05:05pm

Business & Economy

IMF is baulking probably due to political unrest in Pakistan, says Bloomberg

Heightened political uncertainty in Pakistan is “probably one of the reasons” the International Monetary Fund (IMF)...

Updated 19 May, 2023 06:07pm

Business & Economy

Imdadullah Bosal appointed Finance Secretary, replaces Hamed Yaqoob Sheikh

Bosal was working as Special Secretary Finance

Published 18 May, 2023 06:37pm

Business & Economy

Govt unaware of true extent of ongoing economic crisis: Miftah Ismail

Pakistan has always managed to avert issues and this is why the current plight is being treated 'like any other', says former finance minister

Updated 18 May, 2023 07:15pm

Energy

‘Energy sector’: Iran eyes greater cooperation with Pakistan, says Raisi

During a joint presser, Iranian leader lauds role of his energy minister for timely completion of electricity transmission line

Updated 18 May, 2023 07:13pm

Business & Economy

Border projects: Pakistan, Iran inaugurate Polan-Gabd electricity transmission line

Also launch Mand-Pishin Border Sustenance Marketplace

Updated 18 May, 2023 07:18pm

Business & Economy

G-20 DSSI: Pakistan signs debt suspension agreements worth $20mn with Korea

Pakistan government has signed a Debt Service Suspension Agreement with the Republic of Korea to defer loans worth...

Updated 15 May, 2023 06:25pm

Business & Economy

Economic distress: Pakistan’s large-scale manufacturing down 25% YoY in March

Main contributors towards overall decline are food, tobacco, textile, petroleum products, cement, pharmaceuticals, and automobiles

Updated 15 May, 2023 05:38pm

Business & Economy

Honda Pakistan ‘prepares to resume operations’ after months-long closure

Company cites improvement in accessibility of trade finance as reason

Updated 15 May, 2023 04:13pm

Business & Economy

Ninth review: fresh financing requirements unchanged, says IMF

Resident representative says 'no truth to reports that IMF is asking Pakistan to raise $8bn in fresh financing'

Published 14 May, 2023 05:58pm

Business & Economy

IMF stresses on ‘staying within agreed policy framework, securing financing’

Washington-based lender says it has taken note of recent (political) developments, and hopes peaceful way forward is found

Updated 14 May, 2023 06:00pm

Business & Economy

‘Negative investor perception’: venture capital association calls out internet suspension

The Venture Capital Association of Pakistan (VCAP), a platform aimed at facilitating startups, expressed its concern...

Updated 12 May, 2023 08:11pm

Business & Economy

MSCI removes Bank Alfalah, EPCL & Indus Motor from Small Cap Indexes

MSCI Inc, a leading provider of decision support tools and services for the global investment community, in its...

Updated 12 May, 2023 07:20pm

Business & Economy

Pakistan’s financial platform Abhi raises Rs2bn Sukuk bond, a ‘first in MENAP’

Demand for bond exceeded expectations, says Abhi

Updated 12 May, 2023 05:18pm

Business & Economy

Political turmoil damaging Pakistan’s already battered economy

Analysts say ongoing political crisis and massive uncertainty driving concerns of default, further delay in IMF programme

Published 11 May, 2023 03:19pm

Business & Economy

IMF remains engaged with Pakistan on bailout programme: report

Pakistan authorities have committed not to introduce fuel cross-subsidy scheme in F23 and beyond, says IMF spokesperson

Updated 11 May, 2023 06:28pm

Business & Economy

Pakistan’s deepening political turmoil douses hopes for IMF relief

Upheaval since Imran Khan's arrest has rattled stock and currency markets, analysts believe IMF will be even more wary of restarting bailout programme

Updated 10 May, 2023 08:21pm

Business & Economy

Remittances decline 13% month-on-month in April, stand at $2.2bn

Cumulative figure for July to April 2022-23 stands at $22.742bn, 13% lower year-on-year

Updated 10 May, 2023 07:14pm

Energy

Pakistan keen on paying for Russian crude with Chinese Yuan: report

Facing a growing energy crunch, Pakistan is keen to secure a long-term deal to buy Russian crude in Chinese...

Updated 10 May, 2023 05:40pm

Business & Economy

Roosevelt Hotel: ECC approves execution of settlement agreement

Agreement with the Hotel Union and the New York City Government (NYCG) will seek utilisation of the Roosevelt Hotel over a period of three years for immigrant housing business

Updated 10 May, 2023 05:36pm

Business & Economy

More Iranian fuel being smuggled to Pakistan, petroleum dealers say

KARACHI: Petroleum dealers have flagged a surge in the smuggling of Iranian fuel to Pakistan, saying that up to 35%...

Updated 09 May, 2023 04:01pm

Forex

Arrangements made for $3.7bn worth of debt repayments: finance ministry

Debt repayment 'should not be any cause of concern', says Ministry of Finance

Updated 09 May, 2023 09:38pm

Energy

Govt to address IMF concerns on petroleum subsidy scheme, says Musadik

Minister of State for Petroleum Musadik Malik on Tuesday said that the government remains committed to addressing...

Updated 09 May, 2023 05:12pm

Business & Economy

Moody’s warns Pakistan could default without IMF bailout: report

Pakistan’s financing options beyond June are highly uncertain, says analyst with ratings agency

Updated 09 May, 2023 09:39pm

Business & Economy

After 2 decades: Ethiopian Airlines marks Karachi comeback with May 9 flight

CAA official confirms prominent aviation group in Africa is returning to port city

Updated 06 May, 2023 06:57pm

Business & Economy

Finance Minister Ishaq Dar meets delegation led by JPMorgan Dubai

Both sides discuss economic situation, outlook of country

Published 05 May, 2023 06:53pm

Energy

Cheaper Iranian oil attracts inflation-hit Pakistani consumers: report

Rampant smuggling hits local refineries

Updated 05 May, 2023 07:09pm

Business & Economy

IMF reiterates ‘necessary financing’ condition for completion of Pakistan’s ninth review

Says it supports authorities in implementation of policies in the period ahead, including in the technical work to prepare the FY24 budget

Updated 05 May, 2023 03:12pm

Business & Economy

Pakistan faces $3.7bn debt payments in May, June: report

Fitch says base case is that Pakistan and IMF will reach an agreement on the programme review, but risks are large

Updated 05 May, 2023 07:16pm

Business & Economy

Public debt-to-GDP ratios have continued to rise in Pakistan: IMF

ISLAMABAD: The public debt-to-GDP ratios have continued to rise in Pakistan, reflecting the combination of...

Published 04 May, 2023 07:37pm

Business & Economy

IMF to discuss Pakistan's FY24 budget plans

A successful staff level agreement for the 9th review will unlock a $1.1-bn tranche

Updated 04 May, 2023 02:31pm

Business & Economy

Dar, US diplomat discuss Pakistan’s IMF programme

Finance Minister Ishaq Dar discussed Pakistan’s economic situation and progress made on the ongoing International...

Updated 03 May, 2023 07:47pm

Cotton & Textile

Pakistan’s textile exports plunge 29% year-on-year in April

Amount to $1.24bn during last month, according to provisional data released by APTMA

Updated 03 May, 2023 03:43pm

Business & Economy

Pakistan’s headline inflation in April at record high, hits a distressing 36.4%

CPI inflation in rural areas increases to 40.7% on year-on-year basis in April 2023
Average inflation during 10MFY23 stands at 28.2% compared to 11% in 10MFY22

Updated 02 May, 2023 07:48pm

Business & Economy

ADB president assures continued support to Pakistan for reforms

Acknowledges stabilisation measures taken by government to put national economy back on track

Published 02 May, 2023 04:14pm

Energy

Dar directs energy sector to resolve liquidity issues at the earliest

Minister for Finance and Revenue Ishaq Dar has directed authorities in the energy sector including Petroleum...

Updated 29 Apr, 2023 06:41pm

Business & Economy

Govt will have to save Pakistan from default for next two years: Miftah Ismail

Former finance minister says Pakistan will need to enter another IMF programme

Updated 29 Apr, 2023 08:24pm

Business & Economy

High inflation, economic slowdown: 'Pakistan still facing considerable challenges'

In its ‘Monthly Economic Update & Outlook', finance ministry says headline inflation expected to remain at elevated level

Updated 29 Apr, 2023 10:08pm

Energy

Italian power giant Eni earned $550mn by reneging on Pakistan LNG supply: report

Company denies it benefited from situation

Updated 29 Apr, 2023 07:17pm

Business & Economy

Inflation likely to hit fresh peak, clock in at over 38%, says brokerage house

Core inflation also expected to remain around 2.5% MoM, reflecting impact of supply chain issues, PKR devaluation, and second-round effects of increase in energy prices

Updated 29 Apr, 2023 06:12pm

Business & Economy

Govt to set up multibillion-dollar oil refinery in Pakistan

Prime Minister Shehbaz Sharif has approved $10 to $14 billion worth of oil refinery in Pakistan, junior petroleum...

Updated 28 Apr, 2023 10:11pm

Business & Economy

Utilising Roosevelt Hotel: ECC forms committee to negotiate with New York City

Will hold talks with city government and the Hotel Union to utilise premises over a period of three years for migrant business at $200 per room per day, according to Finance Division's statement

Updated 28 Apr, 2023 08:39pm

Energy

Pakistan places first order for discounted Russian crude

The deal will see Pakistan buy crude oil only, not refined fuels, says Musadik Malik

Updated 20 Apr, 2023 04:41pm

Forex

Pakistan reports massive current account surplus of $654mn in March

This is the first surplus on a monthly basis since November 2020 when the pandemic brought global economy to a standstill

Updated 19 Apr, 2023 06:49pm

Business & Economy

Soaring inflation dampens Eid holiday spirit

Dire economic straits have cast a decidedly sombre mood across Pakistan's normally vibrant markets

Updated 19 Apr, 2023 06:14pm

Forex

Charities’ plan to help raise $2bn from overseas Pakistanis put in ‘cold storage’ by ministry

In February, Finance Minister Ishaq Dar publicly gave his green signal to a reported plan by charitable...

Published 17 Apr, 2023 06:41am

Business & Economy

Govt increases petrol price by Rs10, takes it to Rs282 per litre

Prices of diesel and light diesel oil to remain unchanged at Rs293 and Rs174.68, respectively

Published 16 Apr, 2023 12:10am

Business & Economy

IMF wants more 'necessary funding assurances' for successful completion of Pakistan's 9th review

Mission Chief for Pakistan Nathan Porter says there was agreement between Pakistani delegation and IMF staff/management to maintain strong policies and secure sufficient financing

Updated 15 Apr, 2023 08:31pm

Business & Economy

Saudi Arabia to deposit $2bn in Pakistan’s central bank in 7 working days: report

The Kingdom of Saudi Arabia (KSA) will deposit $2 billion into the State Bank of Pakistan’s (SBP) account “within...

Updated 15 Apr, 2023 08:33pm

Business & Economy

In meeting with investors in US, SBP chief says economy on its way to achieving stability

Jameel Ahmad says impact of policy measures already playing out in the economy

Updated 14 Apr, 2023 06:37pm

Business & Economy

Pakistan to receive $300mn from ICBC today: Dar

This will bring total funds received from ICBC to $1.3 billion

Updated 14 Apr, 2023 06:30pm

Business & Economy

IMF chief hopeful of ‘successful’ completion of programme with Pakistan

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said she is optimistic that the current...

Updated 14 Apr, 2023 06:48pm

Business & Economy

UAE confirms to IMF its $1bn bilateral support to Pakistan, says Dar

Finance minister says SBP now engaged with authorities over the required documentation

Updated 14 Apr, 2023 04:19pm

Business & Economy

ECC approves loan scheme to provide E-bikes, E-rickshaws on 0% markup

Amount of Rs250mn approved for repair and maintenance of the Supreme Court of Pakistan building, judges' residences, rest houses and sub-offices in various cities

Updated 13 Apr, 2023 06:16pm

Business & Economy

Rising external debt driving Pakistan's economic woes, says UN

The United Nations has said Pakistan is in the eye of a polycrisis as the country’s external debt almost doubled...

Updated 13 Apr, 2023 06:21pm

Business & Economy

IMF official has expressed confidence SLA will be signed soon, says Pakistan's Finance Division

Statement comes after Finance Minister Ishaq Dar attends IMF-World Bank spring meetings virtually from Islamabad

Updated 12 Apr, 2023 11:14pm

Business & Economy

Dar discusses IMF and economy with UK envoy

Briefs Acting British High Commissioner on policies and programmes for revenue generation and bringing about economic stability and growth

Updated 12 Apr, 2023 09:37pm

Business & Economy

Govt employees to get salary ahead of Eid ul Fitr

The federal government has decided to pay its employees salaries before Eid-ul-Fitr, according to a statement...

Updated 12 Apr, 2023 05:25pm

Business & Economy

IMF agreement to be inked soon, reiterates Dar in National Assembly

Finance minister tables bill in parliament seeking approval for election funds
Says national and provincial elections should be held at the same time, under a caretaker setup

Updated 10 Apr, 2023 07:16pm

Business & Economy

Overseas workers' remittances up 27.4% MoM, clock in at $2.5bn in March

Inflow highest since August 2022, attributed to Ramadan factor
Cumulative figure for July to March 2022-23 stands at $20.527bn, 10.8% lower year-on-year

Updated 10 Apr, 2023 04:13pm

Business & Economy

IMF deal taking time due to delay in assurance from friendly nation: Ishaq Dar

Says he cancelled his US trip on the request of PM Shehbaz, will attend IMF-World Bank spring meetings virtually

Updated 08 Apr, 2023 09:14pm

Business & Economy

Ishaq Dar will not attend IMF-World Bank spring meetings: report

Finance Minister Ishaq Dar has reportedly pulled out of a crucial scheduled visit to the United States to attend the...

Published 07 Apr, 2023 03:05pm

Business & Economy

Pakistan signs $240mn loan agreement with Saudi Fund for Development for KP dam

Mohmand Multipurpose Dam Project will enhance water and food security, and improve the standard of living for people living in the Khyber Pakhtunkhwa province: SFD

Updated 07 Apr, 2023 05:56pm

Business & Economy

'IMF indicates it has Saudi assurance of $2bn inflow to Pakistan'

Minister of State for Finance Aisha Ghaus Pasha says Saudi Arabia has assured IMF it will provide Pakistan with a $2bn loan
Says IMF agreement still depends on similar commitment from UAE

Updated 06 Apr, 2023 07:56pm

Business & Economy

Pakistan among record number of developing countries facing a debt crisis

Record number of developing nations at risk of crisis will be high on the agenda next week for the World Bank Group and IMF spring meetings

Published 06 Apr, 2023 12:37pm

Business & Economy

Pakistan’s economic growth to decelerate to 0.6% in FY23: ADB

Depending on a fast return to stability twinned with robust macroeconomic and structural reforms, country can bounce back: Asian Development Bank

Updated 04 Apr, 2023 08:38pm

Business & Economy

Govt keeps prices of petrol, diesel unchanged till April 15

Price of kerosene, light diesel oil reduced by Rs10 per litre

Published 31 Mar, 2023 09:15pm

Business & Economy

Dar confirms rollover of $2bn China loan, says issue is ‘no longer pending’

Denies reports that request for rollover is 'work in progress'

Updated 31 Mar, 2023 06:46pm

Financial

MPC meeting: SBP likely to raise key policy rate by 200 basis points

MPC meeting is scheduled to be held on April 4 (Tuesday)

Updated 31 Mar, 2023 07:38pm

Business & Economy

Pakistan moves ahead on plan to outsource three airports

International Finance Corporation (IFC), part of the World Bank Group, qualified as transaction advisor

Published 30 Mar, 2023 07:30pm

Business & Economy

Technical-level talks with IMF are over: Ishaq Dar

Finance minister holds back from giving timeline on when deal will be inked

Updated 30 Mar, 2023 08:53pm

Business & Economy

Chinese loan rollover of $2bn to Pakistan in process: source

Finance ministry official says it is a 'work in progress, formal documentation underway'

Updated 30 Mar, 2023 12:30pm

Business & Economy

IMF is asking for ‘guarantees at every step’: PM Shehbaz

Says talks between government and IMF are still underway

Updated 28 Mar, 2023 07:57pm

Business & Economy

IMF seeks financial assurances before taking 'next step with Pakistan'

Says Pakistan's economy faces multiple challenges including from slowing growth, high inflation and large financing needs

Updated 24 Mar, 2023 04:25pm

Business & Economy

‘Pakistan is running out of time,’ warns PBC as IMF programme hangs in balance

As stakeholders contest short-term power, Pakistan's long-term future is in jeopardy, says Pakistan Business Council

Updated 22 Mar, 2023 04:44pm

Business & Economy

Pakistan careening towards potential default if IMF aid does not arrive: Bloomberg

Bloomberg economists believe neighbouring China will help Pakistan in case IMF does not release funds

Updated 21 Mar, 2023 08:01pm

Business & Economy

Govt did not consult ahead of announcing fuel subsidy proposal: IMF

Pakistan authorities did not consult with the International Monetary Fund (IMF) staff ahead of announcing their...

Updated 21 Mar, 2023 09:02am

Business & Economy

Statement on Senate floor regarding IMF programme being quoted out of context: Ishaq Dar

Says remarks that Pakistan has sovereign right to develop its nuclear programme should not be linked with ongoing negotiations with IMF

Updated 20 Mar, 2023 10:06pm

Business & Economy

Pakistan’s current account deficit clocks in at meagre $0.07bn in February

Cumulatively, deficit reduced to $3.9bn in Jul-Feb FY23 compared to $12.1bn in Jul-Feb FY22.

Updated 20 Mar, 2023 09:28pm

Business & Economy

Further hike in policy rate on the cards as inflation runs deep in Pakistan

Brokerage house AHL says it expects an increase of 100bps in upcoming meeting on April 4

Updated 18 Mar, 2023 03:29pm

Business & Economy

Air carriers face ‘very challenging’ environment as $290mn stuck in Pakistan: IATA

The International Air Transport Association (IATA), a trade association of global airlines, has warned that Pakistan...

Published 16 Mar, 2023 06:02pm

Business & Economy

IMF asking for materialisation of commitment from ‘friendly countries’: Ishaq Dar

Finance minister says there will be 'no compromise' on Pakistan's nuclear and missile programmes

Updated 16 Mar, 2023 08:36pm

Business & Economy

Documentation for ICBC’s second $500mn disbursement complete: Dar

Earlier this month, Pakistan’s central bank received $500 million from China’s ICBC, the first of three disbursements that were approved for rollover

Updated 16 Mar, 2023 05:23pm

Business & Economy

Pakistan's ex finance chief Miftah warns against any kind of debt restructuring

Difficult task to get China and the West to sit on one table for such an endeavour, he says

Updated 16 Mar, 2023 09:46am

Business & Economy

Govt increases petrol price by Rs5 per litre

The price of high-speed diesel also increases by Rs13 per litre

Published 15 Mar, 2023 11:59pm

Business & Economy

ECC greenlights supply of indigenous gas to fertilizer sector

The Economic Coordination Committee (ECC) on Wednesday approved the supply of indigenous gas to fertilizer plants to...

Updated 15 Mar, 2023 09:51pm

Business & Economy

Pakistan must enhance infrastructure spending by five times: Maheen Rehman

InfraZamin CEO highlights need for rigorous development in the areas of education, health and agriculture

Published 14 Mar, 2023 08:56pm

Business & Economy

Dar-led monitoring committee bans use of over 1800cc cars by govt officials

The monitoring committee, led by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, on Monday...

Updated 13 Mar, 2023 10:25pm

Business & Economy

'Pakistan has a bright future': UK keen to liberalise trade, identify investment opportunities

UK Prime Minister’s Trade Envoy to Pakistan, Mark Eastwood, who also serves as a Member of Parliament (MP), has...

Published 10 Mar, 2023 06:47pm

Business & Economy

Remittances clock in at $2bn in February, down 9.5% on a yearly basis

Inflow, however, recovers marginally on month-on-month basis

Updated 10 Mar, 2023 07:17pm

Business & Economy

Staff-level agreement with IMF expected in ‘next few days’: Dar

Finance minister says agreement has 'taken longer than it should have'

Updated 09 Mar, 2023 05:18pm

Business & Economy

Saudi prince formally launches $100mn tech house in Pakistan

Saudi Arabia’s Prince Fahad bin Mansour Alsaud formally launched the $100-million Saudi-Pakistan Tech House (SPTH)...

Published 08 Mar, 2023 01:10pm

Business & Economy

Careem intends to launch women-driven motorbike service for Pakistani females

Careem, the global ride-hailing service, announced on Tuesday its plan to launch a new women-driven motorbike...

Published 07 Mar, 2023 06:14pm

Business & Economy

Pakistan’s fintech Trukkr says it has raised $6.4mn in seed funding

KARACHI: Trukkr, a fintech platform for Pakistan’s trucking industry, said on Tuesday it had raised $6.4 million in...

Published 07 Mar, 2023 04:22pm

Business & Economy

IMF temporarily hikes limits on members’ annual, cumulative access to its resources

Changes intended to better support the Fund’s members in a particularly challenging and uncertain economic environment, it says in statement

Updated 07 Mar, 2023 06:38pm

Business & Economy

Pakistan has to give assurances on financing BOP deficit: IMF

External financing is one of the last in a string of prior actions the lender wants Islamabad to complete before it clears funding, IMF representative says

Updated 06 Mar, 2023 02:55pm

Forex

SBP receives $500mn from ICBC: Ishaq Dar

Finance minister had earlier said that ICBC has rolled over $1.3bn-facility, reiterated that Pakistan will not default

Updated 04 Mar, 2023 01:36pm

Business & Economy

Moody's downgrades five Pakistani banks

Also downgrades the five banks' long-term foreign currency Counterparty Risk Ratings (CRRs) to Caa3 from Caa1

Updated 03 Mar, 2023 09:14pm

Business & Economy

Additional inflow of $500mn from China expected in few days, says Dar

Finance minister says ICBC has rolled over $1.3bn-facility, reiterates Pakistan will not default; blames Imran Khan for country's current economic state

Updated 03 Mar, 2023 06:42pm

Business & Economy

China urges all to play 'constructive role in Pakistan’s economic stability efforts'

Spokesperson Mao Ning says Western-dominated commercial creditors and multilateral financial institutions account for the lion’s share of developing countries’ debt

Updated 03 Mar, 2023 06:33pm

Business & Economy

Pakistan, IMF to reach staff-level agreement by next week: Ishaq Dar

Says 'anti-Pakistan elements are spreading malicious rumours that Pakistan may default'

Updated 02 Mar, 2023 07:45pm

Business & Economy

Pakistan’s headline inflation reading in February hits 31.5% YoY

This is the highest YoY inflation reading since data was made available in July 1965, according to brokerage house AHL

Updated 01 Mar, 2023 07:10pm

Business & Economy

Hikes in interest rate appear to be redundant: business community

In letter to SBP governor, FPCCI questions policy rate efficacy in curbing inflation

Updated 01 Mar, 2023 06:50pm

Business & Economy

Govt cuts petrol price by Rs5 per litre

Price of high-speed diesel remains unchanged

Published 28 Feb, 2023 11:14pm

Business & Economy

Pakistan ‘desperately needs debt restructuring’: Dr Murtaza Syed

Former SBP deputy governor says situation is really bad, Pakistan caught in the crosshairs of a perfect storm

Updated 28 Feb, 2023 05:57pm

Business & Economy

Moody's downgrades Pakistan's rating to Caa3, changes outlook to stable

Says Pakistan's increasingly fragile liquidity and external position significantly raises default risks to a level consistent with a Caa3 rating

Updated 28 Feb, 2023 08:23pm

Business & Economy

'Completely false': Govt says no instruction given to stop payment of salaries, pensions

Says AGPR has confirmed salaries and pension have already been processed and will be paid on time

Updated 26 Feb, 2023 09:59am

Business & Economy

Pakistan will need another IMF programme in June: Dr Murtaza Syed

Calls Pakistan's economic crisis the worst in history steered by domestic and global reasons

Updated 24 Feb, 2023 05:53pm

Business & Economy

Pakistan may need debt adjustment despite IMF support: Barclays

In its report 'Payment halt a possibility', Barclays says lack of new bilateral financing agreements reflects Pakistan’s complex political environment & macroeconomic instability

Updated 22 Feb, 2023 05:21pm

Business & Economy

China Development Bank approves $700mn facility for Pakistan: Dar

Amount expected to be recieved by SBP this week, says finance minister

Updated 22 Feb, 2023 09:06pm

Business & Economy

Pakistan finance secretary sees IMF staff level talks wrapping up this week

IMF funds are critical for the $350 billion South Asian economy facing a severe balance of payments crisis

Updated 22 Feb, 2023 03:37am

Business & Economy

Rothschild & Co delegation meets Dar, discusses roadmap for economic recovery

Dar expresses commitment to completing IMF programme, according to Finance Division statement

Updated 21 Feb, 2023 10:13pm

Business & Economy

Business community calls for meeting with government after KPO attack

Says poor law and order situation has triggered extreme anxiety amongst businesses who are contemplating whether to continue their business in this city or move somewhere else

Updated 21 Feb, 2023 08:49pm

Business & Economy

National Assembly passes Finance (Supplementary) Bill

The bill imposes new taxes of Rs170 billion to minimise fiscal deficit

Published 20 Feb, 2023 10:09pm

Business & Economy

FDI surges 102% YoY to $222.6mn in January

Cumulative figure for 7MFY23, however, is 44% lower year-on-year

Updated 20 Feb, 2023 07:26pm

Business & Economy

Pakistan’s current account deficit shrinks 90% YoY to $0.24bn in January: SBP

Deficit during 7MFY23 reduces over 67%, clocks in at nearly $3.8bn

Updated 20 Feb, 2023 07:10pm

Business & Economy

'No subsidies for wealthy': IMF 'very clear', wants Pakistan's poor protected

Fund managing director Kristalina Georgieva says IMF asking for steps that Pakistan needs to take to be able to function as a country and not to get into a dangerous place where its debt needs to be restructured

Updated 20 Feb, 2023 04:52pm

Business & Economy

Dr Sania Nishtar criticises govt after street vendor carts destroyed in Islamabad

Dr Sania Nishtar, who served as the Special Assistant of the Prime Minister on Poverty Alleviation during the...

Published 16 Feb, 2023 04:02pm

Business & Economy

Govt increases petrol price by Rs22.20, takes it to Rs272 per litre

Also announces an increase in the price of high-speed diesel by Rs17.20 per litre, taking it to Rs280

Published 16 Feb, 2023 12:08am

Business & Economy

Inflation in Pakistan could average 33% in first half of 2023, says Moody’s economist

MUMBAI/ISLAMABAD: Inflation in Pakistan could average 33% in the first half of 2023 before trending lower, and a...

Updated 15 Feb, 2023 07:59pm

Business & Economy

Finance (Supplementary) Bill, 2023: Dar unveils taxation measures as Pakistan looks to appease IMF

National Assembly session comes as Islamabad remains desperate to revive its bailout programme with Washington-based lender

Updated 15 Feb, 2023 08:37pm

Business & Economy

Measures to revive IMF deal: President Alvi advises taking parliament into confidence 'more appropriate'

Finance Division statement says the president has called for an immediate session so that bill is enacted without delay

Updated 14 Feb, 2023 11:34pm

Business & Economy

Fitch Ratings downgrades Pakistan’s foreign-currency IDR to ‘CCC-’

Says default or debt restructuring is an increasingly real possibility

Updated 14 Feb, 2023 07:39pm

Business & Economy

IMF, Pakistan to resume talks on unlocking bailout funds, official says

Talks will resume virtually as the two sides look to reach a deal to unlock critical funding

Updated 13 Feb, 2023 05:50pm

Business & Economy

Pakistan’s bonds dive as IMF talks end without deal

LONDON: Pakistan’s government bonds slumped on Friday after the country’s bailout talks with the International...

Published 10 Feb, 2023 03:35pm

Business & Economy

IMF talks: Leaving without agreement 'not uncommon', says former SBP deputy governor

Dr Murtaza Syed says Pakistan should reach an agreement with the IMF within a month

Updated 10 Feb, 2023 01:59pm

Business & Economy

Govt to impose Rs170bn in additional taxes, MEFP shared with Pakistan: Dar

Finance minister says power sector reforms, minimising untargeted subsidy key priorities for IMF programme revival

Updated 10 Feb, 2023 09:10pm

Business & Economy

IMF stresses on 'timely, decisive' implementation of policies as virtual discussions to continue

In short statement at conclusion of 10-day visit, IMF mission chief says resolute financial support from official partners critical for Pakistan to successfully regain macroeconomic stability and advance sustainable development

Updated 10 Feb, 2023 02:01pm

Business & Economy

Debt reprofiling viable option for Pakistan under IMF watch: report

Arif Habib Limited says Pakistan has a long way to go to address macroeconomic vulnerabilities

Updated 07 Feb, 2023 04:08pm

Business & Economy

IMF should work with Pakistan to protect the deprived: Human Rights Watch

Says conditions the IMF places on its loan could either 'exacerbate social and economic hardship or provide desperately needed relief to Pakistanis while addressing crisis’s underlying causes'

Updated 07 Feb, 2023 11:12pm

Business & Economy

Pakistan, IMF grapple for consensus to unlock critical funding

ISLAMABAD: Pakistan and the visiting International Monetary Fund mission are struggling to arrive at a consensus on...

Published 06 Feb, 2023 09:54pm

Business & Economy

Dar hits out at Imran Khan’s ‘irresponsible tweet’ about current govt

Federal Minister for Finance and Revenue Ishaq Dar slammed former prime minister Imran Khan over his statement...

Updated 04 Feb, 2023 09:47pm

Commodities

Pakistan’s oil industry on brink of collapse, says OCAC

In letter to energy ministry and Ogra chairman, body makes case for enhancing trade finance limits in wake of rupee depreciation

Published 03 Feb, 2023 09:56pm

Business & Economy

Dar gives go-ahead to Saylani, other charities to help raise $2bn from overseas Pakistanis

Charity organisations have reportedly proposed help in raising funds to alleviate Pakistan's economic concerns

Updated 02 Feb, 2023 05:00pm

Business & Economy

Govt committed to eliminate Riba-based financial system, says Dar

Finance Minister Mohammad Ishaq Dar on Thursday said that the government remains committed to implementing the...

Published 02 Feb, 2023 12:13pm

Business & Economy

'Higher than expectations': Pakistan's headline inflation clocks in at 27.6% in January

This is the highest inflation reading since 27.8% recorded in May 1975, says analyst
CPI inflation in rural areas increased to 32.3% on year-on-year basis in January 2023

Updated 01 Feb, 2023 04:25pm

Business & Economy

Deal or default: Pakistan’s economy set for an endgame

Distressed by debt, many analysts expect 'reprofiling' rather than mass write-off of payments

Published 01 Feb, 2023 01:13pm

Business & Economy

Zardari for increasing minimum wages to Rs 35,000

LAHORE: Former president Asif Ali Zardari said on Tuesday that minimum wages for labourers and workers should be...

Updated 01 Feb, 2023 08:56am

Business & Economy

Inflationary pressure expected to calm down gradually: Finance Division

In Monthly Economic Update & Outlook January 2023, it says global commodity prices showing downward trend which will lower domestic price levels

Updated 31 Jan, 2023 07:17pm

Business & Economy

Dar meets IMF review mission, apprises it of planned power sector reforms

Finance Division says IMF Mission Chief Nathan Porter has expressed confidence government will meet requirements for completion of 9th review

Updated 31 Jan, 2023 07:37pm

Business & Economy

SBP says it recognises cost of monetary tightening, but curbing inflation essential

The State Bank of Pakistan (SBP) says that it recognises the short-term cost of monetary tightening on economic...

Published 30 Jan, 2023 07:50pm

Business & Economy

Inflation to cross 30% as rupee depreciation, petrol prices bite: report

Given bulk adjustment in currency, a 30% YoY CPI reading now seems inevitable, a brokerage house says

Updated 30 Jan, 2023 07:22pm

Business & Economy

SBP rebuts claim capping dollar price caused $3bn loss in remittances, exports

Central bank says decline in Pakistan’s exports and remittances result of a number of exogenous factors and domestic reasons

Updated 29 Jan, 2023 10:56pm

Business & Economy

Ishaq Dar announces 35-rupee hike in prices of petrol and diesel

Finance Minister says price-increase applicable from 11am today
Price of petrol reaches Rs249.80 per litre, high speed diesel now at Rs262.80

Updated 29 Jan, 2023 03:34pm

Business & Economy

Ishaq Dar compares economic indicators, criticises Imran for 'ruining economy'

In a heated video address, Finance Minister Ishaq Dar on Friday criticised the economic performance of the Imran...

Updated 27 Jan, 2023 10:20pm

Business & Economy

Analysts weigh in: rupee’s latest depreciation has wider implications, outcomes

Experts believe LC issue will be resolved, inflation along with remittances to increase in short term

Updated 27 Jan, 2023 07:04pm

Business & Economy

PBC urges authorities to augment IMF programme

The Pakistan Business Council (PBC) has welcomed the development regarding arrival of the International Monetary...

Updated 27 Jan, 2023 06:17pm

Business & Economy

PM Shehbaz hopeful of IMF programme revival ‘this month’

Statement comes after IMF said its mission will visit Pakistan from January 31-February 9 to continue discussions for the 9th review

Updated 27 Jan, 2023 06:02pm

Business & Economy

Keeping dollar in narrow range was insanity, says Dr Miftah Ismail at IBA event

Former finance minister says black market cannot be stopped by administrative measures

Updated 27 Jan, 2023 10:58am

Business & Economy

IMF says Fund mission scheduled to visit Islamabad at end of January

Will continue discussions under ninth EFF review

Updated 26 Jan, 2023 08:25pm

Business & Economy

Pakistan to decide currency for Russia oil trade in March: Musadik Malik

Minister says country will make the decision once agreement is finalised in March

Updated 26 Jan, 2023 06:46pm

Business & Economy

Dollar released from Dar(kness): Pakistan moves to convince IMF

As the PKR endured its worst day in over two decades (in terms of percentage loss), many say this is a step towards reviving the stalled bailout programme

Updated 26 Jan, 2023 10:03pm

Business & Economy

In Bloomberg interview, Imran says will back continued role of IMF if he wins election

Says will reappoint Shaukat Tarin as finance minister

Updated 25 Jan, 2023 04:55pm

Business & Economy

‘Fragile situation’ in a ‘resilient’ economy: British International Investment CEO

KARACHI: British International Investment (BII), which was called the CDC Group till 2022, made its first investment...

Published 22 Jan, 2023 11:47pm

Business & Economy

'Perfect doom loop': economist Atif Mian breaks down Pakistan's current policies

Atif Mian, a noted Pakistani-American economist and currently the professor of Economics, Public Policy, and Finance...

Published 20 Jan, 2023 05:34pm

Business & Economy

KSA in talks with World Bank, others to be ‘more creative’ in supporting Pakistan: Saudi minister

Speaking at the World Economic Forum in Davos on Tuesday, Saudi Arabia Minister of Finance said KSA was working with multilateral institutions to provide support to Pakistan, Turkiye and Egypt

Updated 19 Jan, 2023 11:02pm

Business & Economy

Steel shortage in offing: Pakistan's construction sector under threat

Brokerage house says as per its checks local players will run out of steel raw material and become forcefully non-operational if no LCs are opened within the next 30 days

Published 17 Jan, 2023 04:29pm

Business & Economy

Pakistan 'held back' by 'very high levels of energy subsidies': ILO

The International Labour Organization (ILO), a United Nations (UN) agency, has said that “very high levels of energy...

Updated 17 Jan, 2023 06:44pm

Commodities

Discounted oil: Russian delegation to reach Pakistan tomorrow

A high-level delegation from Russia, including its minister for energy, will reach Pakistan on Tuesday (January 17)...

Published 16 Jan, 2023 04:54pm

Business & Economy

Govt to facilitate exporters for import of raw material, other accessories: Ishaq Dar

Finance minister says five zero-rated export-oriented sectors and other exporters will be given complete facilitation

Updated 16 Jan, 2023 05:22pm

Commodities

Pakistan, Saudi Arabia ink $1bn agreement to finance oil derivatives

The Ministry of Economic Affairs on Thursday signed an agreement with the Saudi Fund for Development (SFD), a Saudi...

Updated 12 Jan, 2023 07:48pm

Business & Economy

MBS directs to study augmenting Saudi Arabia’s investments in Pakistan to reach $10bn: SPA

Saudi Development Fund (SDF) also directed to study increasing amount of the deposit in favour of the SBP to hit $5bn ceiling

Updated 10 Jan, 2023 04:20pm

Business & Economy

Finance Minister Ishaq Dar meets IMF delegation in Geneva

Finance Minister reiterates commitment to complete the programme

Published 09 Jan, 2023 09:35pm

Business & Economy

Pakistan likely to dodge default in next 6 months, but troubles not over: Bloomberg

Report says investors are now worried about a big dollar debt repayment in April 2024, and pricing those bonds at a distressed level

Updated 09 Jan, 2023 06:39pm

Business & Economy

IMF says its delegation expected to meet Finance Minister Dar on sidelines of Geneva conference

Will discuss outstanding issues and path forward, says IMF spokesperson

Updated 08 Jan, 2023 10:59am

Business & Economy

Dollar shortage threatens to cause healthcare sector crisis in Pakistan

The ongoing dollar shortage in the country has now taken another threatening turn, as there is a scarcity of...

Updated 07 Jan, 2023 05:58pm

Business & Economy

Pakistan’s imports threatened as forex reserves hit lowest level since April 2014

KARACHI: Pakistan’s central bank forex reserves have plunged to an eight-year low of $5.58 billion, posing a serious...

Updated 06 Jan, 2023 08:41pm

Business & Economy

Pakistan Business Council urges stakeholders to seek debt waivers

Says IMF programme critical, but still not enough to alleviate Pakistan's economic distress

Updated 06 Jan, 2023 08:33pm

Business & Economy

Saudi Arabia expected to beef up its deposits in Pakistan: Ishaq Dar

Dar says rollover of loan is not an unusual thing

Published 04 Jan, 2023 08:15pm

Business & Economy

Bleak times ahead for Pakistan’s manufacturing sector

Expert says temporary shutdown seems to be the only available option at the moment

Updated 04 Jan, 2023 04:40pm

Forex

Pakistan to witness economic contraction in FY23: Ismail Iqbal Securities

Brokerage house report projects industrial growth to come at a negative 4% in FY23

Updated 03 Jan, 2023 08:15pm

Stocks

Arif Habib Limited expects KSE-100's recovery in 2023

Despite a poor show in 2022, one of Pakistan’s prominent brokerage houses expects the benchmark KSE-100 Index to...

Updated 02 Jan, 2023 03:42pm

Business & Economy

Pakistan's headline inflation clocks in at 24.5% in December

CPI-based number has stayed above 20% for the last 7 months

Updated 02 Jan, 2023 06:51pm

Business & Economy

Inflation to maintain declining trend in December: Finance Division

In its Monthly Economic Update & Outlook, govt expects CPI-based inflation to remain in the range of 21-23%

Updated 30 Dec, 2022 08:01pm

Forex

Critical: SBP-held foreign exchange reserves fall another $294mn, now stand at $5.82bn

This is the lowest level of central bank reserves since April 2014, and raises concerns on Pakistan's liquidity position

Updated 29 Dec, 2022 07:19pm

Business & Economy

Dar admits Pakistan in 'tight spot' but 'no chance of default'

Addressing PSX event via video link, finance minister reiterates position on country's payments' position, expresses resolve to complete IMF programme

Updated 28 Dec, 2022 09:26pm

Business & Economy

SBP rolls back import restrictions from January 2, 2023

Says authorised dealers may prioritise/ facilitate imports according to certain categories

Published 22 Dec, 2022 07:56pm

Business & Economy

Pakistan would need another IMF programme post elections: report

Brokerage house AHL also expects rupee-dollar parity to hit 263 by end of 2023

Updated 22 Dec, 2022 04:53pm

Commodities

With Pakistan’s economy in a tailspin, speculators jack up prices in informal gold market

Association says uncertainty behind not issuing gold rates on Wednesday

Published 21 Dec, 2022 10:01pm

Business & Economy

Pakistan's GDP growth projected to remain below 3–4% in FY23, says SBP

Central bank releases Annual Report on The State of Pakistan's Economy

Updated 21 Dec, 2022 08:01pm

Stocks

In stark contrast to 2021, PSX sees a meagre 3 IPOs this year

Collectively, the three listings raised Rs1.3bn from the capital market

Published 21 Dec, 2022 04:15pm

Energy

Shifting to renewable sources key to Pakistan’s energy security: PM Shehbaz

Prime Minister Shehbaz Sharif on Wednesday said the government remains committed to diversifying the country’s...

Published 21 Dec, 2022 03:40pm

Business & Economy

No increase in electricity tariff under consideration: energy ministry

Dismisses reports suggesting hike, says PM Shehbaz has issued clear directions ruling out increase

Updated 21 Dec, 2022 05:24pm

Business & Economy

Dar for resolving outstanding issues between Etisalat, PC

ISLAMABAD: Finance Minister Ishaq Dar has emphasized of resolving outstanding issues between Etisalat and the...

Published 21 Dec, 2022 06:32am

Business & Economy

Flood-affected areas: World Bank approves $1.692bn in financing for five projects in Sindh

3 projects support rehabilitation and housing reconstruction, and restoration of crop production for vulnerable communities, while another 2 support health services for mothers and children

Updated 20 Dec, 2022 05:09pm

Business & Economy

Pakistan can borrow through ICIEC to reduce financing cost, says CEO

KARACHI: As a member country, Pakistan can borrow through the Islamic Corporation for the Insurance of Investment...

Updated 20 Dec, 2022 11:16am

Business & Economy

PBC urges govt to seek 'professional help' to renegotiate sovereign debts

The Pakistan Business Council (PBC), a business policy advocacy platform, has urged the government to seek...

Updated 19 Dec, 2022 04:15pm

Business & Economy

Pakistan’s current account deficit shrinks to $0.28bn in November: SBP

Pakistan’s current account deficit (CAD) shrank by more than 50 percent during the first five months of this ...

Published 16 Dec, 2022 11:02pm

Business & Economy

Musadik Malik reiterates Russia will provide Pakistan crude at ‘discounted rates'

State minister says govt working with Azerbaijan on a gas purchase framework agreement as well

Updated 16 Dec, 2022 07:24pm

Business & Economy

OGDC, PPL & GHPL sign definitive agreements for reconstituted Reko Diq project

SOEs utilise sums deposited in an interest-bearing, offshore, escrow account

Updated 16 Dec, 2022 03:19pm

Business & Economy

Remittances continue to decline, clock in at $2.1bn in November

Experts attribute lower inflow to usage of illegal channels

Published 14 Dec, 2022 05:13pm

Business & Economy

Dar admits 'huge smuggling of dollars' taking place as Pakistan's forex reserves suffer

Finance minister says exports increased only marginally despite massive rupee depreciation

Updated 14 Dec, 2022 06:39pm

Business & Economy

IMF says discussions with Pakistan 'productive', looks forward to continuing dialogue

IMF review for the release of the next tranche of funding has been pending since September

Published 13 Dec, 2022 11:27pm

Business & Economy

Pakistan expecting Saudi financial help: Ishaq Dar

Finance minister says there are positive vibes from there

Published 13 Dec, 2022 09:53pm

Business & Economy

Sukkur-Hyderabad Motorway: PM wants more projects on public-private partnership model

Performs ground-breaking of 306-km-long Hyderabad-Sukkur Motorway (M-6)

Updated 13 Dec, 2022 04:32pm

Business & Economy

IMF shareholders deeply divided over Pakistan, other countries request to suspend loan surcharges

Executive board discussed surcharges it collects from mostly middle- and lower-income countries on larger loans that are not repaid quickly, but failed to agree to launch a formal review

Updated 13 Dec, 2022 06:09pm

Business & Economy

We did not put our political capital at stake for early elections: PM Shehbaz

Finance minister Ishaq Dar says Pakistan hoping to conclude talks with Saudi Arabia soon on financial help

Updated 12 Dec, 2022 07:32pm

Business & Economy

Facing massive economic headwinds, companies in Pakistan struggle to keep operations going

Facing energy shortages and an overall decline in demand, companies in Pakistan are either announcing shutdown of...

Updated 12 Dec, 2022 07:35pm

Business & Economy

Flood relief: ADB approves $554mn financing package

Package includes $475mn loan and $3mn technical assistance grant, plus $5mn grant from Japan

Updated 12 Dec, 2022 06:03pm

Business & Economy

End of FY23: JPMorgan has penciled in another 400bps rate-hike, but experts disagree

Market experts disagreed with JPMorgan, a leading global financial institution that penciled in an interest rate...

Published 10 Dec, 2022 04:45pm

Business & Economy

Ishaq Dar directs measures to stop cross-border dollar smuggling

Finance minister stresses need for coordination among all necessary platforms to curb smuggling of foreign exchange and other items

Updated 09 Dec, 2022 08:52pm

Business & Economy

Pakistan's debt repayment situation completely under control: SBP governor

During SBP's podcast, Jameel Ahmad says all upcoming obligations will be met on schedule, reserves' position to improve in second half of ongoing fiscal year

Updated 08 Dec, 2022 10:59pm

Business & Economy

Pakistan seeking $4.2bn from Saudi Arabia: reports

Development comes amid dwindling foreign exchange reserves

Published 08 Dec, 2022 02:01pm

Business & Economy

Finance Minister Dar briefs President Alvi on country’s economic situation

Ishaq Dar informs President about steps taken by govt to provide relief to the most vulnerable segments of society

Published 07 Dec, 2022 08:55pm

Business & Economy

Business Confidence Score lowest in Pakistan since Covid: OICCI survey

Ongoing political uncertainty as well as deteriorating economic indicators have dented overall Business Confidence...

Updated 07 Dec, 2022 08:30pm

Business & Economy

Finance Division dismisses rumours over supposed economic emergency proposals

Says negotiations leading to the 9th review of IMF programme now at an advanced stage

Published 06 Dec, 2022 09:42pm

Business & Economy

New estimates place flood losses at $46bn

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Monday said that the...

Updated 06 Dec, 2022 09:27am

Energy

Time to 'say no' to cartels, says PM, as energy bill touches $27bn

Holds cartels responsible for not allowing Pakistan to explore its indigenous energy resources

Updated 05 Dec, 2022 05:40pm

Business & Economy

Russia to provide crude oil to Pakistan at discounted rates: Musadik Malik

State minister for petroleum says Russian government-level delegation will visit Pakistan in mid-January

Updated 05 Dec, 2022 06:29pm

Commodities

Pakistan still considering offers in 500,000 tonne wheat tender

HAMBURG: Pakistan is still considering price offers in its tender to buy 500,000 tonnes of wheat which closed last...

Published 05 Dec, 2022 12:43pm

Business & Economy

As IMF funding delayed, Pakistan expects $3bn from friendly country

Finance Minister says Pakistan will make alternate arrangements if IMF delays $1bn tranche

Updated 03 Dec, 2022 12:53am

Business & Economy

Economic advice: Dar constitutes 11-member reform, resource mobilization commission

Reforms and Resource Mobilization Commission will advise and make recommendations to finance minister on economic policies

Updated 01 Dec, 2022 10:59pm

Business & Economy

Pakistan's CPI-based inflation in November clocks in at 23.8%

CPI inflation in rural areas stood at 27.2% on a year-on-year basis

Updated 01 Dec, 2022 05:49pm

Business & Economy

Pakistan seeks support from Bank of China to bring back macroeconomic stability

ISLAMABAD: Pakistan has sought support from the Bank of China to bring back macroeconomic stability, the South Asian...

Updated 01 Dec, 2022 05:47pm

Business & Economy

Pakistan’s November CPI expected to decline marginally: finance ministry

In its monthly outlook, ministry says inflationary pressure was expected to ease marginally month-on-month due to smooth domestic supplies, unchanged energy prices in November and a stable exchange rate

Published 29 Nov, 2022 09:41pm

Forex

Pakistan receives $500mn from AIIB: finance ministry

Inflow comes at a time when country's foreign exchange reserves are at a low level

Updated 29 Nov, 2022 05:02pm

Business & Economy

Pakistan, IMF begin virtual engagement for loan talks

Government has shared fiscal data, including flood and related expenditures, with the IMF
IMF Resident Representative says as part of the 9th review under the EFF, remote discussions continue between IMF staff and the Pakistani authorities

Updated 28 Nov, 2022 10:45pm

Energy

Pakistan's delegation leaves for Russia to hold discussions on oil, gas

Earlier, Ishaq Dar had said 'we should pray that visit is successful and government manages to secure deal on favourable terms'

Updated 28 Nov, 2022 05:39pm

Business & Economy

Ishaq Dar says Pakistani delegation to leave for Russia for potential oil deal

Federal Minister for Finance and Revenue Ishaq Dar said that a delegation from Pakistan, led by Minister of State ...

Updated 26 Nov, 2022 06:49pm

Business & Economy

Challenging road ahead: Pakistan's economic growth projected to slow down to 2.1%: report

EFG Hermes says political uncertainty will dent country's economic outlook

Updated 25 Nov, 2022 06:12pm

Business & Economy

Pakistan does not face any risk of default, reiterates Ishaq Dar

Finance minister says on his advice government made 'categorical decision' not to approach Paris Club for debt relief

Updated 24 Nov, 2022 03:59pm

Business & Economy

Pakistan flood recovery plan key to continued financial support: IMF

Resident representative says IMF staff continuing discussions with Pakistani authorities over policies to reprioritise and better target support toward humanitarian needs, while accelerating reform efforts to preserve economic and fiscal sustainability

Published 23 Nov, 2022 11:50pm

Business & Economy

Dar takes notice of ‘illegal, unwarranted leakage of tax info’ of COAS Bajwa’s family

Directs SAPM on Revenue to lead immediate investigation into 'violation of tax law and breach of FBR data, affix responsibility and submit a report within twenty four hours'

Updated 21 Nov, 2022 08:04pm

Business & Economy

Net FDI in Pakistan falls over 52% in first four months of FY23

Net Foreign Direct Investment (FDI) in Pakistan dropped 52.1% during the first four months of the ongoing fiscal ...

Updated 21 Nov, 2022 07:25pm

Business & Economy

Dar looks to calm nerves, says Pakistan will not default on bond payments

Finance minister reiterates country will meet international payment obligations, also dismisses rumours of looming fuel shortage

Updated 19 Nov, 2022 07:18pm

Business & Economy

By 2050, Pakistan’s annual GDP can decline 18-20% due to climate change risks: World Bank

Says impact on Pakistan's natural and human capital are likely to be severe

Updated 18 Nov, 2022 07:17pm

Business & Economy

Pakistan, IMF plan to move fast on bailout programme

Will 'expeditiously' finish their technical engagement as part of the ninth review of Pakistan's bailout programme

Published 17 Nov, 2022 11:31pm

Business & Economy

Pakistan’s perceived default risk rises significantly

5-year CDS has increased from 2,208bps to 6,419bps in one month, says brokerage house

Updated 14 Nov, 2022 08:42pm

Business & Economy

Pakistan, Kenya dollar bonds rise as investors look to frontier issuers

Pakistan's shorter-dated dollar denominated bonds were up as much as 8.7 cents in the dollar

Updated 08 Nov, 2022 08:56pm

Business & Economy

No fuel shortage in Pakistan, adequate stocks available: energy ministry

The Ministry of Energy’s Petroleum Division on Tuesday dismissed reports over an impending fuel shortage, terming...

Published 08 Nov, 2022 05:09pm

Business & Economy

Pakistan secures $13bn-14bn in financial commitments, says Dar

Finance minister says IMF programme on track
Reiterates action will be taken against those involved in currency manipulation

Updated 08 Nov, 2022 02:50pm

Business & Economy

First heat, then floods wipe out farms in Pakistan's chilli capital

KUNRI: Near Kunri, a southern Pakistani town known as Asia's chilli capital, 40-year old farmer Leman Raj rustles...

Published 03 Nov, 2022 02:08pm

Business & Economy

CPI-based inflation jumps in October, clocks in at 26.6%

CPI inflation in rural areas clocked in at 29.5% on a year-on-year basis
Brokerage house says reading in line with market expectation

Updated 01 Nov, 2022 07:16pm

Business & Economy

PM Shehbaz to discuss 'CPEC revitalisation' as he arrives in China

Says there is a lot to learn from Chinese economic miracle

Updated 01 Nov, 2022 08:47pm

Business & Economy

PM Shehbaz unveils relief package for agriculture sector

'Kissan Package' aims to uplift small farmers
Loan portfolio for farmers enhanced, import of used tractors allowed

Updated 31 Oct, 2022 08:55pm

Business & Economy

OGDC, PPL to participate in reconstituted Reko Diq project

Oil and Gas Development Company Limited (OGDC), Pakistan Petroleum Limited (PPL) and Government Holdings Private...

Updated 31 Oct, 2022 04:20pm

Currency

Pakistan’s REER falls to 90.9 in September

Pakistan's Real Effective Exchange Rate (REER) declined to 90.94 in September compared to 94.38 in August, data...

Published 31 Oct, 2022 11:19am

Commodities

Pakistan said to buy 385,000 tonnes wheat in tender

HAMBURG: A government agency in Pakistan is believed to have bought about 385,000 tonnes of wheat in an...

Published 30 Oct, 2022 03:30pm

Business & Economy

Pakistan needs $16.3bn to recover from flood damages, says govt

Floods have caused damages to the tune of $14.91 billion and losses of over $15.23 billion, reveal findings of report

Updated 28 Oct, 2022 07:27pm

Business & Economy

Forex boost: SBP receives $1.5bn from ADB, says Dar

Funds part of ADB's response package to support Pakistan in the wake of recent floods

Updated 26 Oct, 2022 08:55pm

Business & Economy

'Pakistan is open for business': PM Shehbaz makes investment pitch in Riyadh

Highlights country's potential and invites investors to explore opportunities in clean energy

Updated 25 Oct, 2022 09:13pm

Business & Economy

'United efforts' helped lift Pakistan out of FATF's grey-list: HBL President

Stresses institutions should unite to address core macroeconomic issues

Published 22 Oct, 2022 07:34pm

Business & Economy

China assures Pakistan of full support to development of CPEC SEZs

Nong Rong, Ambassador of the People’s Republic of China, has assured Federal Minister for Finance and Revenue ...

Published 22 Oct, 2022 07:02pm

Business & Economy

Experts upbeat after Pakistan’s removal from FATF’s grey-list

Say it will improve country’s global standing in terms of perception and image

Published 21 Oct, 2022 08:45pm

Business & Economy

After over 4 years, Pakistan removed from FATF's 'grey-list'

Announcement comes as global money laundering and terrorism financing watchdog concludes its two-day Plenary in Paris

Updated 21 Oct, 2022 09:55pm

Business & Economy

Fitch downgrades Pakistan’s issuer default rating to 'CCC+' from ‘B-’

Flags worsening liquidity and policy risks

Updated 21 Oct, 2022 06:51pm

Business & Economy

ADB approves $1.5bn financing for Pakistan amid floods, supply-chain disruptions

Loan will be utilised to fund government’s $2.3 billion countercyclical development expenditure programme

Updated 21 Oct, 2022 05:13pm

Business & Economy

Analysts hopeful of removal from FATF's grey-list, but caution long way still to go

Say Pakistan's appeal to international investors will improve, but attracting FDI requires structural reforms

Updated 20 Oct, 2022 05:23pm

Business & Economy

PM Shehbaz against import of wheat by private firms

Premier fears companies will make ‘fat profits’ using Pakistan’s foreign exchange

Updated 20 Oct, 2022 05:24pm

Energy

By using Kandhkot gas, Qadirpur plant can help Pakistan save $2bn: CEO Engro Powergen Qadirpur

Engro Powergen Qadirpur Limited (EPQL) CEO Shahab Qader said on Wednesday that his company is looking to use gas ...

Published 19 Oct, 2022 09:37pm

Business & Economy

Pakistan keen on purchasing Russian oil, says Ishaq Dar

Finance minister says he has conveyed this to relevant quarters in Washington and so far, there has been no resistance against it

Updated 19 Oct, 2022 08:47pm

Business & Economy

JPMorgan says Pakistan's troubles justify slump in bond prices

Bonds have plunged to around 33-35 cents on the dollar this month which leaves them at just a third of their face value and broadly in line with other countries seen as at risk of default such El Salvador, Ghana and Ecuador

Updated 19 Oct, 2022 10:34pm

Business & Economy

Talks with IMF, World Bank: Ishaq Dar expects positive outcome

Finance minister says everything went well during interactions

Published 19 Oct, 2022 04:47pm

Business & Economy

Dar optimistic Pakistan's economic growth can surpass 3% in FY23

Central bank had projected growth to decline to 2% in FY23, amid devastation induced by flash floods

Updated 19 Oct, 2022 05:27pm

Business & Economy

Pakistan seeks billions of dollars in new loans after floods

Country needs 'huge sums of money' for 'mega undertakings' such as rebuilding roads, bridges and other infrastructure damaged or washed away, the FT quoted PM Shehbaz as saying

Updated 19 Oct, 2022 03:32pm

Business & Economy

Jul-Sep textile group's exports up 3.7% year-on-year to $3.58bn

Petroleum group imports 5.9% higher during the first quarter of the current fiscal year 2022-23 and remained at $4.866bn

Published 18 Oct, 2022 05:39pm

Business & Economy

President Alvi files reference in Supreme Court on Reko Diq

President Dr Arif Alvi filed a reference in the Supreme Court of Pakistan to seek an opinion on the Reko Diq case....

Published 18 Oct, 2022 03:36pm

Business & Economy

Dar optimistic of Pakistan’s exit from FATF’s grey-list

Federal Minister for Finance and Revenue Ishaq Dar on Monday expressed optimism that the Financial Action Task Force...

Updated 17 Oct, 2022 05:08pm

Business & Economy

Pakistan vows IMF reforms as flood damage estimated at over $16bn

WASHINGTON: Pakistan's finance minister has promised international lenders to stay true to economic reforms despite ...

Updated 15 Oct, 2022 07:35pm

Business & Economy

Pakistan seeks rescheduling of $27bn bilateral debt: Ishaq Dar

International financial institutions have been ‘quite flexible’ with ways to meet Pakistan’s external financing needs, says Dar

Updated 15 Oct, 2022 07:34pm

Business & Economy

IMF mission to visit Pakistan in November

IMF is encouraging Pakistan to move from an untargeted subsidy that is a waste of resources, says Fund's official

Updated 14 Oct, 2022 11:19pm

Business & Economy

Moody's downgrades ratings of five Pakistani banks; maintains negative outlook

Moody’s says rating actions reflect the Government of Pakistan's reduced capacity to support the banks

Updated 11 Oct, 2022 08:42pm

Business & Economy

Dar leaves for US to hold meetings with IMF, World Bank

Federal Minister for Finance and Revenue Ishaq Dar left for the United States on Tuesday for talks with the...

Updated 11 Oct, 2022 06:48pm

Business & Economy

ECC likely to approve minimum support price of wheat on Monday

The Economic Coordination Committee (ECC) which is scheduled to meet on Monday with Finance Minister Ishaq Dar in ...

Updated 10 Oct, 2022 09:38am

Business & Economy

Pakistan will not seek Paris Club debt restructuring, says Ishaq Dar

Says Pakistan will fulfil all sovereign debt commitments

Updated 10 Oct, 2022 09:39am

Business & Economy

Dar invites US investment, says govt to facilitate foreign investors

Federal Minister for Finance and Revenue Ishaq Dar on Friday invited investment from the United States into ...

Updated 07 Oct, 2022 08:34pm

Business & Economy

Dar brushes off concerns after Moody’s cuts Pakistan's rating

Will give befitting reply to Moody’s if downgrade not reversed, says finance minister

Updated 07 Oct, 2022 04:57pm

Business & Economy

Moody's cuts Pakistan's rating to Caa1

Rating agency says ongoing floods raise country's external financing needs, heightening risks of a balance of payments crisis

Updated 06 Oct, 2022 11:11pm

Business & Economy

SBP to soon complete probe into alleged forex manipulation by banks: spokesperson

Investigations are being carried out by the regulator and results might come soon, says Abid Qamar

Published 05 Oct, 2022 07:52pm

Business & Economy

1Q trade deficit declines 21.42pc to $9.2bn YoY

ISLAMABAD: Pakistan’s trade deficit narrowed down by 21.42 percent to $9.209 billion during the first quarter of...

Updated 05 Oct, 2022 09:50am

Business & Economy

Trade gap narrows 20% to $2.88bn in September 2022

Deficit reduces due to sharp decrease in imports

Updated 04 Oct, 2022 08:46pm

Energy

Energy crisis: Pakistan fails to secure LNG contract

Back in August, PLL had invited bids for 72 LNG cargoes from international suppliers across a period of six years

Updated 04 Oct, 2022 05:34pm

Cotton & Textile

Pakistan’s towels, bedsheets manufacturers shutting operations amid cotton shortage

Development comes as flash floods caused by record monsoon rains and glacial melt devastated large swathes of agricultural land in the north and south of the country

Updated 04 Oct, 2022 05:33pm

Business & Economy

Pakistan’s growth model facilitates only the top 1% elite: Miftah Ismail

Former finance minister says lower and middle income groups suffer due to overheating of economy

Published 03 Oct, 2022 08:09pm

Business & Economy

Ravaged by floods, Pakistan's economic health has a lot of people worried

ISLAMABAD: Concerns over the health of Pakistan's economy have risen, especially in the wake of floods, as foreign...

Published 01 Oct, 2022 08:04pm

Business & Economy

Economic outlook uncertain, likely to remain below target, warns Pakistan's finance ministry

Macroeconomic imbalances may ease with the expected slowdown in economic growth, says Monthly Economic Update & Outlook for September

Updated 30 Sep, 2022 05:38pm

Business & Economy

ADB says aims to mobilise $500-700mn package for immediate relief assistance to Pakistan

Is also processing $1.5-billion countercyclical support to mitigate impacts of rising food prices and other external shocks on the poor and vulnerable

Published 29 Sep, 2022 06:47pm

Currency	Rate
USD PKR Interbank Selling / Oct 6	277.25
USD PKR Interbank Buying / Oct 6	277.05
USD to Japanese Yen / Oct 7	158.45
USD to Swiss Franc / Oct 7	0.83
Pound Sterling to USD / Oct 7	1.33
Euro to USD / Oct 7	1.12
SOFR % / Oct 5	3.89

Stock	Volume
S&P 500 / Oct 6	7,818.93
Nasdaq / Oct 6	27,599.89
FTSE 100 / Oct 6	10,541.69
Dow Jones / Oct 6	51,521.28
Germany DAX 30 / Oct 6	25,449.19
France CAC40 / Oct 6	7,865.07
India Sensex / Oct 7	72,642.60
Tokyo Nikkei / Oct 7	70,237.46
Hang Seng / Oct 7	24,151.90

Item	Value
Karachi Cotton PKR/37.32 KG / Oct 6	18,480
Gold 10 Grams PKR / Oct 6	375,116
Petrol/Litre / Oct 7	394.83
Crude Oil USD/Barrel / Oct 7	90.22
Gold Spot USD/Ounce / Oct 7	4,143
Diesel/Litre / Oct 7	395.85
Cotton US¢/pound / Oct 7	81.21

Stock	Price
Paramount Mod / Oct 7 First Paramount Modaraba(FPRM)	15.80 ▲ 1.44 (10.03%)
Shadman Cotton / Oct 7 Shadman Cotton Mills Limited(SHCM)	74.09 ▲ 6.74 (10.01%)
Treet Corp / Oct 7 Treet Corporation Limited(TREET)	23.07 ▲ 2.1 (10.01%)
ARM Green Industries / Oct 7 ARM Green Industries Limited(ARMG)	51.02 ▲ 4.64 (10%)
Dadex Eternit / Oct 7 Dadex Eternit Limited(DADX)	174.91 ▲ 15.9 (10%)
Fazal Cloth / Oct 7 Fazal Cloth Mills Limited(FZCM)	299.46 ▲ 27.22 (10%)
Ghani Chemworld Limited(PRS) / Oct 7 Ghani Chemworld Limited(PRS)(GCWLPRS)	117.70 ▲ 10.7 (10%)
Tri-Star Mutual / Oct 7 Tri-Star Mutual Fund Limited(TSMF)	17.27 ▲ 1.57 (10%)
Sindh Modaraba / Oct 7 Sindh Modaraba(SINDM)	41.38 ▲ 3.76 (9.99%)
Equity Modaraba / Oct 7 First Equity Modaraba(FEM)	11.59 ▲ 1.05 (9.96%)

Stock	Price
Asim Textile / Oct 7 Asim Textile Mills Limited(ASTM)	81.72 ▼ -9.08 (-10%)
Popular Islamic / Oct 7 Popular Islamic Modaraba(PIM)	64.01 ▼ -7.11 (-10%)
LSE Financial Serv. / Oct 7 LSE Financial Services Limited(LSEFSL)	3.53 ▼ -0.39 (-9.95%)
GOC (Pak) / Oct 7 GOC (Pak) Limited.(GOC)	157.32 ▼ -13.76 (-8.04%)
Mughal Energy / Oct 7 Mughal Energy Limited(GEM)(GEMMEL)	38 ▼ -3.09 (-7.52%)
First Imrooz Mod. / Oct 7 First Imrooz Modaraba(FIMM)	260 ▼ -19.86 (-7.1%)
Shakarganj / Oct 7 Shakarganj Limited(SML)	93.05 ▼ -6.92 (-6.92%)
Century Ins. / Oct 7 Century Insurance Company Limited(CENI)	56.38 ▼ -3.54 (-5.91%)
EFU Life Assurance (R) / Oct 7 EFU Life Assurance Limited Right(EFULR)	96 ▼ -4.86 (-4.82%)
TPL Insurance / Oct 7 TPL Insurance Limited(TPLI)	52.53 ▼ -2.45 (-4.46%)

Stock	Volume
K-Electric Ltd. / Oct 7 K-Electric Limited(KEL)	58,405,433 ▲ 0.54
Cnergyico PK / Oct 7 Cnergyico PK Limited(CNERGY)	26,385,154 ▲ 0
Waves Home Appliances / Oct 7 Waves Home Appliances Limited(WAVESAPP)	18,208,360 ▲ 0.59
WorldCall Telecom / Oct 7 Worldcall Telecom Limited(WTL)	18,163,862 ▲ 0.01
Pak Refinery / Oct 7 Pakistan Refinery Limited(PRL)	14,395,606 ▲ 0.92
Tasdeeq Info. Serv. / Oct 7 Tasdeeq Information Services Limited(TISL)	10,788,612 ▲ 0.12
Dewan Cement / Oct 7 Dewan Cement Limited(DCL)	10,018,640 ▲ 0.15
Media Times Ltd / Oct 7 Media Times Limited(MDTL)	7,630,163 ▲ 0.52
TPL Properties / Oct 7 TPL Properties Limited(TPLP)	7,130,399 ▲ 0.49
Sitara Petroleum Service / Oct 7 Sitara Petroleum Service Limited(SPSL)	4,737,465 ▲ 0.2