ISLAMABAD: The government has reduced retail prices of high-speed diesel by Rs4.79 a liter and petrol by Rs2 a liter effective Dec. 1, passing on the benefit of softer international crude prices in the second half of November.
top-economy
FM Aurangzeb sees IMF critique as spur for urgent reforms
ISLAMABAD: Finance Minister Muhammad Aurangzeb pushed back against opposition criticism of a recent International Monetary Fund report that flagged financial irregularities in the country, describing the document not as an attack but as a “catalyst for accelerating long-overdue reforms.”
PIA escapes Airbus A320 software recall as carriers worldwide rush repairs
KARACHI: Pakistan International Airlines emerged unscathed from a sweeping Airbus SE recall of 6,000 A320-family jets over a software glitch, even as carriers worldwide scrambled overnight to implement fixes that temporarily grounded aircraft in Asia and Europe and loomed over US travel during the post-Thanksgiving surge.
Govt likely to cut fuel prices by up to Rs6.30 a liter as global rates dip
ISLAMABAD: The government is poised to lower prices for all petroleum products by as much as Rs6.30 per liter starting Sunday, reflecting modest declines in international markets, according to industry officials.
Pakistan weighs corporate tax cuts but FBR flags Rs1.6tr revenue risk
ISLAMABAD: Pakistan’s government is grappling with high corporate taxes that are deterring foreign investment, according to a top official, even as tax authorities insist any rate cuts must be paired with stricter compliance to avoid a massive revenue shortfall.
FM Aurangzeb signals shift toward sustainable growth to break boom-bust cycle
ISLAMABAD: The government is pivoting from short-term growth targets toward a strategy aimed at sustainable economic expansion, Finance Minister Muhammad Aurangzeb said Wednesday, signalling a departure from repeated boom-and-bust cycles that have destabilised the economy in the past.
Pakistan jobless rate climbs to 6.9 percent as 1.4mln workers join unemployment rolls
ISLAMABAD: Pakistan’s unemployed population has jumped by a staggering 31 percent over the past four years, climbing from 4.5 million in 2020-21 to 5.9 million in 2024-25, as the country grapples with deepening strains in its labour market amid economic uncertainty.
Barrick CEO rejects talk of Pakistan exit, says Reko Diq still core asset
KARACHI: Barrick Gold Corp. remains committed to its $7 billion Reko Diq copper mine in Pakistan, one of the world’s largest undeveloped deposits of the metal, the company’s interim chief executive officer said, pushing back against reports of a possible withdrawal.
Ogra approves up to 7 percent gas price hike to cover utilities’ Rs886bn revenue gap
ISLAMABAD: The oil and gas regulator has approved increases of as much as 7% in prescribed natural gas prices for the fiscal year ending June 2026, paving the way for higher tariffs that could add to consumer burdens amid efforts to curb a ballooning energy-sector debt.
Pakistan issues tender to supply 100,000 tonnes of rice to Bangladesh
KARACHI: Pakistan’s state-owned Trading Corporation is seeking to buy as much as 100,000 metric tons of rice for export to Bangladesh, the latest sign of warming ties between the two South Asian nations amid Dhaka’s push to secure food supplies and cool domestic prices.