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.
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.
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.
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.
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.
