By Staff Reporter
ISLAMABAD: Pakistan is deploying a high-level delegation to Washington to negotiate relief from punishing US tariffs that have pushed duties on its exports to 39 percent, threatening a bilateral trade relationship worth $6 billion annually, Prime Minister Shehbaz Sharif’s office said on Wednesday.
By Staff Reporter
ISLAMABAD: Barrick Gold Corp. is in advanced talks to secure over $2 billion from international lenders for its Reko Diq copper-gold mine in Pakistan, a pivotal project poised to transform the South Asian nation into a top-tier mining hub.
By Staff Reporter
KARACHI: Pakistan stocks cratered to an intraday low of 8,687 points on Monday—its biggest point drop ever—before closing 3.3 percent lower, reeling from a global sell-off sparked by China’s retaliatory tariffs on the U.S.
By Staff Reporter
ISLAMABAD: The government reduced electricity tariffs by as much as Rs7.69 per unit, the largest cut in years, as Prime Minister Muhammad Shehbaz Sharif seeks to boost the country’s struggling economic growth.
By Staff Reporter
ISLAMABAD: The government has trimmed petrol prices by Re1 per litre ahead of Eidul Fitr to avert fuel shortages during the holiday rush.
By Staff Reporter
ISLAMABAD: Pakistan has secured International Monetary Fund (IMF) approval for a modest Re1 per unit cut in electricity prices, but the meager relief hinges on a contentious levy on industrial gas users—a condition now mired in legal disputes.
By Staff Reporter
KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $540 million or 4.84 percent in a single week, reaching a six-month low of $10.61 billion as of March 21, data released on Thursday showed, driven primarily by external debt repayments.
By Staff Reporter
ISLAMABAD: The federal cabinet on Wednesday mandated a thorough review of controversial changes to the country’s solar net metering policy, responding to widespread criticism from consumers, traders, and even senior government figures.
By Staff Reporter
ISLAMABAD: Pakistan’s economy expanded 1.73 percent in the second quarter of the fiscal year 2024-25, driven by solid growth in agriculture and services, despite a slight contraction in the industrial sector, the National Accounts Committee (NAC) said on Wednesday.
The headline inflation is expected to remain steady within a 1-1.5 percent range in March, according to the Finance Division’s Monthly Economic Update and Outlook. However, the ministry warned that inflation could edge up to 2-3 percent in April due to potential volatility in food and energy prices. The country’s inflation has been on a declining trend since peaking at 38 percent in May 2023, and the government’s efforts to tighten spending and boost revenue have led to a primary surplus and a narrowed fiscal deficit.
