ISLAMABAD: The World Bank greenlit $194 million for education and water security projects in Balochistan, while the Asian Development Bank (ADB) signed off on a $350 million loan to bolster women’s financial access across Pakistan.
top-economy
Pakistan sets year-end goal to sell PIA as five final bidders emerge
ISLAMABAD: Pakistan is pressing ahead with plans to sell its national airline, Pakistan International Airlines (PIA), targeting final bids by October and a completed deal by year-end, the country’s privatization chief said, marking Islamabad’s most determined push yet to offload the loss-making carrier after decades of failed attempts and billions in taxpayer bailouts.
Pakistan maps backup oil import plans if Hormuz closes, minister says
ISLAMABAD: Pakistan is mapping out backup plans for its oil imports as the Iran-Israel conflict puts the Strait of Hormuz, a lifeline for global crude, at risk of closure.
FBR unveils Rs36 billion new tax measures to offset solar tax cut and salary hikes
ISLAMABAD: The Federal Board of Revenue (FBR) has rolled out a Rs36 billion package of new taxes to plug a financial gap triggered by a reduction in sales tax on solar panels and a proposed salary hike for government employees.
Ogra tells fuel firms to hoard stocks, boost imports on Mideast war risk
ISLAMABAD: Pakistan’s Oil and Gas Regulatory Authority (Ogra) on Saturday directed oil marketing companies (OMCs) to hold 20-day fuel stockpiles and import 140 million liters of petrol as the escalating Iran-Israel conflict risks disrupting global oil supplies.
Govt cuts income tax rate to 1pc for salaried workers earning up to Rs1.2 million
ISLAMABAD: The government has cut income taxes for salaried workers, lowering the rate for those earning up to Rs1.2 million annually from 5% to 1%, Finance Minister Muhammad Aurangzeb told the Senate session on Saturday.
Pakistan secures Rs1.275 trillion Islamic finance deal to tackle power sector debt
ISLAMABAD: Pakistan has clinched a Rs1.275 trillion ($4.6 billion) Islamic finance facility from 18 commercial banks to confront its power sector’s ballooning debt, a pivotal step to shore up the economy and align with its $7 billion International Monetary Fund program, Power Minister Awais Leghari said Friday.
Pakistan draws interest from five bidders for struggling PIA
ISLAMABAD: Five bidders, including prominent business groups and a military-backed firm, have emerged as contenders to buy ailing Pakistan International Airlines, the Privatization Ministry said on Thursday, signaling momentum in Pakistan’s latest push to offload the loss-making state-owned enterprises and comply with the terms of a $7 billion International Monetary Fund bailout.
Pakistan seals $1bn ADB-backed loan with Gulf banks in market return
By Staff Reporter
KARACHI: Pakistan on Wednesday signed a $1 billion financing deal with the Asian Development Bank (ADB), marking a pivotal step in its fiscal overhaul and heralding its return to international commercial markets after a nearly two-and-a-half-year absence.
Current account swings to deficit in May on trade gap
KARACHI: Pakistan’s current account posted a deficit of $103 million in May 2025, reversing a surplus of $47 million in the previous month, as a widening trade gap offset gains from robust remittances, the State Bank of Pakistan’s data showed on Tuesday.