ISLAMABAD: Pakistan International Airlines Corp. suffered losses totaling about Rs22 billion from prolonged aircraft groundings, according to audit officials who briefed lawmakers this week on a litany of financial and operational missteps at the struggling carrier.
top-economy
Govt freezes gas prices for six months to shield consumers from winter costs
ISLAMABAD: Pakistan’s government will hold natural gas prices steady for the next six months, delivering a reprieve to households and industries battered by soaring energy costs, even as the sector’s circular debt balloons to more than Rs3 trillion.
UBL overtakes OGDC as Pakistan’s most valuable listed firm at $4.6 billion
KARACHI: United Bank Ltd. has vaulted to the top spot among Pakistan’s listed companies, with its market capitalisation swelling to Rs1.28 trillion ($4.6 billion) on Tuesday, eclipsing longtime leader Oil & Gas Development Co.
Pakistan’s central govt debt falls in July–Nov as currency gains offset domestic rise
ISLAMABAD: Pakistan’s central government debt declined in the first five months of the fiscal year as a stronger rupee and debt repayments helped ease the burden of foreign borrowings, even as domestic obligations ticked higher amid controlled spending.
Exports sink for fifth straight month, slump over 20 percent in December
ISLAMABAD: Pakistan’s exports tumbled for a fifth consecutive month in December, plunging more than a fifth from a year earlier and driving the trade deficit wider amid sluggish global demand and soaring domestic costs.
Inflation slow to 5.6 percent in December, matching government estimate
ISLAMABAD: Pakistan’s consumer prices inflation rose 5.6% in December from a year earlier, easing from November’s pace and landing within the government’s projected range as food costs dropped.
Pakistan begins 2026 with cuts to petrol and diesel prices
ISLAMABAD: The government rang in 2026 with fuel price cuts, slashing petrol and diesel rates for the next two weeks in a move that tracks softer global crude and delivers modest relief to consumers and transporters battered by high costs.
Loss-making PIA readies London relaunch following privatization deal
KARACHI: Pakistan International Airlines is set to resume direct flights to London in March after a six-year suspension, a move that comes as a local consortium led by Arif Habib Group finalizes its acquisition of the beleaguered carrier in a privatization push aimed at stemming years of losses.
Critical mineral supply chains shift as US buyers turn to Pakistan and Tajikistan – report
ISLAMABAD: American buyers are increasingly courting suppliers in Pakistan and Tajikistan for antimony, a critical metal used in munitions, batteries and flame retardants, as concerns mount over Beijing’s grip on global production, FT reported on Monday.
Pakistan looks to convert $1 billion UAE deposit into equity to cut debt burden
ISLAMABAD: Pakistan is pushing to transform $1 billion in deposits from the United Arab Emirates into equity investments as part of a broader strategy to pare back its external debt load, Deputy Prime Minister Ishaq Dar said, after high-level talks with the Gulf nation’s leader.