By Staff Reporter
ISLAMABAD: The government will invite fresh bids next week to privatize Pakistan International Airlines Corp. (PIA), the privatization ministry said on Thursday, doubling down on efforts to sell the debt-strapped flag carrier after a failed first attempt drained $4.3 million in public funds.
By Staff Reporter
KARACHI: Pakistan plans to sharply increase imports of cotton and soybean from the United States to cut its bilateral trade surplus in half and sidestep steep tariffs imposed by President Donald Trump, Bloomberg reported on Wednesday.
By Staff Reporter
MASTUNG: The Balochistan National Party-Mengal (BNP-M) ended a 20-day sit-in protest in southwest Pakistan on Wednesday, its leader said, after clashes with authorities over detained activists, as the group vowed to escalate its campaign through province-wide rallies.
By Staff Reporter
ISLAMABAD: A severe hailstorm and torrential rain battered Islamabad and surrounding areas Wednesday, smashing vehicle windscreens, shattering windows, and uprooting trees as residents shared footage of golf ball-sized hail pelting the capital.
By Staff Reporter
ISLAMABAD: The antitrust regulator fined Nishat Hyundai Motors Rs25 million for misleading consumers during the 2020 launch of its Tucson SUV, accusing the automaker of using “bait advertising” to inflate demand before abruptly raising prices.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif unveiled incentives for overseas Pakistanis on Tuesday, including special courts, tax breaks, job quotas, and skill training, acknowledging their economic contributions.
By Staff Reporter
ISLAMABAD: The large-scale manufacturing sector contracted by 1.9 percent year-on-year during the first eight months of the 2024-25 fiscal year (July-February), driven by steep declines in food, chemicals, and construction-linked industries, provisional data from the Pakistan Bureau of Statistics (PBS) showed on Tuesday.
By Staff Reporter
Fitch Ratings lifted Pakistan’s Long-Term Foreign-Currency Issuer Default Rating to ‘B-’ from ‘CCC+’, with a Stable Outlook, signalling cautious hope for economic stabilisation via a $7 billion IMF Extended Fund Facility and $1.3 billion Resilience Facility.
By Staff Reporter
ISLAMABAD: The government has decided against lowering local petroleum prices despite a recent drop in global oil prices, opting instead to channel the savings into major infrastructure projects in Balochistan, the Prime Minister’s House said on Tuesday.
By Staff Reporter
ISLAMABAD: Global ratings agency Fitch on Tuesday upgraded Pakistan’s foreign currency credit rating to ‘B-’ from ‘CCC+’, a move signaling growing economic stability as the country slashes budget deficits and implementing structural reforms under a IMF bailout programme. The outlook is stable.
