ISLAMABAD: Finance Minister Muhammad Aurangzeb called for a decisive pivot toward blockchain technology and digital assets, acknowledging the intricate nature of the country’s banking system and the urgent need to modernize its financial infrastructure.
top-economy
Pakistan forms 11th National Finance Commission to tackle fiscal divide
ISLAMABAD: President Asif Ali Zardari on Friday constituted the 11th National Finance Commission (NFC), a pivotal body tasked with reshaping the contentious distribution of federal tax revenues between the central government and the country’s four provinces.
Reko Diq secures $410 million ADB financing
ISLAMABAD: The Asian Development Bank has committed $410 million to propel Pakistan’s Reko Diq copper mine, one of the world’s largest untapped deposits, toward production, Reuters reported on Thursday.
Pakistan invites US firms to bid for oil, gas blocks in fresh investment push
ISLAMABAD: Pakistan is rolling out the red carpet for American energy companies, inviting them to bid on a fresh round of oil and gas exploration blocks as part of a broader push to deepen economic ties with the US under President Donald Trump’s second term.
Pakistan sets up digital authority to lead nationwide tech transformation
ISLAMABAD: The government has officially established the Pakistan Digital Authority (PDA), a body tasked with overseeing the country’s ambitious digital transformation agenda.
Pakistan’s GDP growth set to accelerate to 3.5% by 2027, Fitch says
KARACHI: Pakistan’s economy is poised for a stronger recovery, with real gross domestic product growth expected to pick up to 3.5% by 2027 from 2.5% in 2024, Fitch Ratings said on Monday, following a period marked by significant turmoil and high inflation.
Pakistan locks in 85,000 tons of sugar imports from Azerbaijan’s SOCAR to ease price surge
ISLAMABAD: Pakistan has secured Letters of Credit through Azerbaijan’s state-owned SOCAR for the import of 85,000 metric tons of sugar, a move designed to avert shortages and rein in retail prices that have soared past 200 rupees per kilogram.
Diesel drops Rs12.84, petrol unchanged
KARACHI: The government slashed the price of high-speed diesel by Rs12.84 per liter, or 4.5%, while holding petrol steady for the fortnight through August 31, responding to shifts in international oil prices.
Pakistan to roll out real-time digital tracking of petroleum to curb Rs500bn smuggling
ISLAMABAD: Pakistan will roll out real-time digital tracking of every litre of petroleum products within a month, a landmark reform to stem smuggling, theft, misappropriation, and adulteration that cost the economy up to Rs500 billion annually, Dawn newspaper reported on Friday.
TCP issues new tender for 200,000 tons of white sugar, due August 21
KARACHI: Pakistan’s state-owned Trading Corporation of Pakistan (TCP) launched a fresh international tender on Thursday to procure 200,000 metric tons of white refined sugar, traders said, as the government seeks to address tight domestic supplies