ISLAMABAD: Pakistan has suspended trade with Iran through the Taftan and Gabd-Rimdan border crossings, stranding hundreds of trucks and threatening supplies of liquefied petroleum gas to the South Asian nation.
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Current account deficit widens to $874m in first quarter, September gap hits $356m
KARACHI: Pakistan’s current-account deficit widened to $874 million in the three months through September, central bank data showed, with imports growing almost twice as fast as exports.
World Bank flags substantial risk in Pakistan tax overhaul program
By Staff Reporter ISLAMABAD: The World Bank rated implementation of its flagship fiscal-reform loan to Pakistan as moderately satisfactory, while classifying overall risk as substantial
IMF lifts Pakistan inflation forecast to 9.9 percent, citing costs of Middle East war
KARACHI: The International Monetary Fund raised its forecast for Pakistan’s inflation in the fiscal year through June 2027 to 9.9%, from 8.4% in April, while leaving its growth projection near 3.5%.
Pakistan lines up six privatisations to raise over $1 billion
KARACHI: Pakistan expects its economy to grow more than 4% this fiscal year and aims to privatise five or six state-run entities that could raise over $1 billion, Finance Minister Muhammad Aurangzeb said.
Aurangzeb courts investors, rating firms at IMF-World Bank gathering in Bangkok after Fund staff deal
By Staff Reporter ISLAMABAD: Finance Minister Muhammad Aurangzeb is heading to Bangkok for the annual meetings of the International Monetary Fund and World Bank with
Remittances rise 12.7 percent in September to $3.6 billion
KARACHI: Pakistan’s workers’ remittances rose 12.7% in September from a year earlier to $3.6 billion, lifting the July-September total to $10.9 billion and adding to the support for an external account that has leaned on money sent home by expatriates, State Bank of Pakistan data showed on Friday.
Pakistan wins IMF staff nod for $1.2 billion after two loan reviews
KARACHI: The International Monetary Fund reached a staff-level agreement with Pakistan on two loan reviews, clearing the way for about $1.2 billion in disbursements once the lender’s board approves.
Petrol up, diesel down, price gap narrows to Re1
ISLAMABAD: The government raised petrol prices by Rs1.19 a liter and cut diesel by Rs1.91 on Tuesday, the latest adjustment under a daily pricing system that has left both fuels more than 40% above where they stood when the US-Iran war began on Feb. 28.
Pakistan faces winter with half the LNG its gas utilities want
ISLAMABAD: Pakistan is drawing up a winter gas-rationing plan and cutting its liquefied natural gas import targets after disruptions to Middle East shipping routes left the government with far fewer cargoes than energy companies say they need.