ISLAMABAD: The government has approved a sweeping five-year subsidy scheme for electric bikes and rickshaws, a Rs100 billion initiative aimed at accelerating the adoption of electric vehicles, curbing oil imports, and advancing environmental sustainability.
top-economy
Pakistan’s fiscal deficit falls to 9-year low, beating IMF, govt targets
KARACHI: Pakistan’s fiscal deficit narrowed to a nine-year low of 5.38% of gross domestic product in the fiscal year 2025, beating both government and International Monetary Fund projections, as a sharp rise in revenues outstripped expenditure growth.
Pakistan issues new 100,000 tons sugar import tender to ease soaring prices after failed bids
ISLAMABAD: The government has opened a new international tender to import 100,000 metric tons of white refined sugar, a fresh bid to tame soaring domestic prices that have strained households.
Pakistan arrests eight in raids on illegal forex trade, rupee gains ground
ISLAMABAD: The Federal Investigation Agency (FIA) has arrested at least eight suspects in a series of raids targeting illegal foreign exchange businesses across the country’s southern and southwestern regions, delivering a temporary lift to the beleaguered rupee.
Pakistan orders 200,000 tonnes of sugar to curb price surge
ISLAMABAD: Pakistan has placed an order for 200,000 metric tonnes of sugar from the international market to stabilize domestic prices and ease a deepening crisis fueled by shortages and soaring costs, government said on Saturday.
Pakistan inflation jumps to 4.1 percent in July, outpacing forecasts
KARACHI: Pakistan’s consumer inflation surged to 4.1% in July 2025 from a year earlier, accelerating from 3.2% in June and topping expectations, as rising costs for food, fuel, and medicines added pressure on households, the Pakistan Bureau of Statistics (PBS) reported on Friday.
Pakistan’s Cnergyico to import first US crude cargo in October
KARACHI: Pakistan’s largest refiner, Cnergyico, will import 1 million barrels of US crude from Vitol in October, marking the country’s first such purchase after a trade deal with the US, its top export market.
Pakistan’s Utility Stores Corp. closes doors after 54 years as losses mount
ISLAMABAD” Pakistan’s Utility Stores Corporation (USC), a state-owned enterprise tasked with providing affordable essentials to low-income households, officially shut down operations on Thursday, ending a 54-year run plagued by financial losses and chronic inefficiencies.
SBP holds key rate at 11 percent, prioritising rupee stability over easing
KARACHI: Pakistan’s central bank kept its benchmark interest rate steady at 11% on Wednesday, opting to safeguard the rupee’s stability despite inflation trending below its target range and widespread expectations of a cut.
IMF sees Pakistan GDP growth at 3.6 percent for FY26, below government target
KARACHI: The International Monetary Fund projected Pakistan’s economic growth at 3.6% for the fiscal year 2025-26, falling short of the government’s 4.2% target, while nudging up its estimate for the prior year to 2.7%.