ISLAMABAD: World Liberty Financial (WLF), a decentralised finance (DeFi) platform backed by US President Donald Trump, has signed a landmark Letter of Intent (LoI) with the Pakistan Crypto Council (PCC) to accelerate blockchain innovation, stablecoin adoption, and DeFi integration across Pakistan.
top-economy
Pakistan relaunches PIA privatisation push with May 3 bid deadline
ISLAMABAD: Pakistan has relaunched efforts to privatise its struggling national flag carrier, inviting expressions of interest by May 3, 2025 for a majority stake in Pakistan International Airlines Corporation Limited (PIACL) after a previous sale attempt failed.
World Bank cuts Pakistan’s growth forecast, urges structural reforms
ISLAMABAD: The World Bank has trimmed its growth forecast for Pakistan to 2.7 percent for fiscal year 2025, a slight dip from its previous estimate of 2.8 percent, signaling that without sweeping structural reforms to bolster private investment and export strength, the country’s economic and poverty woes will persist.
Reforms, recovery in focus as Aurangzeb meets Georgieva, Banga at Spring Meetings
By Staff Reporter
ISLAMABAD: Finance Minister Muhammad Aurangzeb met with the heads of the International Monetary Fund (IMF) and the World Bank on Monday, launching a critical series of high-level consultations in Washington aimed at bolstering the country’s fragile economic recovery.
Finance Minister heads to Washington for IMF, World Bank meetings
By Staff Reporter
KARACHI: Finance Minister Muhammad Aurangzeb left for Washington on Saturday to attend the World Bank and International Monetary Fund (IMF) Spring Meetings, aiming to secure further financial support and reassure investors as the country implements reforms under a $7 billion IMF bailout program.
Current account surges to record $1.2bn surplus in March as remittances offset trade gap
By Staff Reporter
KARACHI: The current account swung to a record monthly surplus of $1.2 billion in March 2025, its highest in at least 13 years, as worker remittances surged and lower oil prices eased import costs, bolstering efforts to stabilise the crisis-prone economy.
Fitch upgrades Pakistan’s credit rating to B- on economic reforms, IMF support
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.
IMF pushes Pakistan on tax, judicial overhauls
ISLAMABAD: The International Monetary Fund (IMF) is intensifying pressure on Pakistan to tackle a Rs7 trillion tax shortfall and judicial inefficiencies, critical steps to shore up its shaky economy.
Remittances hit record $4.1bn in March, central bank raises forecast
By Staff Reporter
KARACHI: The overseas workers sent home a record $4.1 billion in March 2025, State Bank of Pakistan (SBP) Governor Jameel Ahmad said Monday, driving the central bank to raise its full-year remittance and foreign reserve targets amid improving economic stability.
Nepra approves Rs1.71/unit power tariff cut
By Staff Reporter
ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) greenlit a government proposal on Thursday to slash electricity tariffs by Rs1.71 per unit for three months, from April to June 2024, tapping funds from the Petroleum Development Levy (PDL) to ease consumer costs and spur demand.