By Staff Reporter
KARACHI: WhatsApp and Instagram users in Pakistan reported outages on Saturday, while interruptions in internet services provided by Zong and PTCL were also reported, according to outage tracking website Downdetector.
top-economy
Debt-laden PIA up for auction on Oct 1
By Staff Reporter
ISLAMABAD: The government said on Friday it will auction off the country’s national carrier, Pakistan International Airlines (PIA), on Oct. 1, as part of a broader push to privatize state-owned enterprises and shore up public finances.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired the meeting of the Economic Coordination Committee (ECC) at the Finance Division in Islamabad on September 20, 2024.
FM Aurangzeb says govt won’t borrow unless on own terms
By Staff Reporter
ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Friday that the government’s rejection of all bids for treasury bills aimed to convey its ability to borrow on its own terms, as he urged banks to focus on lending to the private sector.
Power generation falls for second month on weak demand
By Staff Reporter
KARACHI: Power generation tumbled 17 percent in August from a year earlier, marking the second consecutive monthly decline, as high electricity charges and sluggish industrial activity curbed demand.
Current account reverts to surplus in August after three-month gap
By Staff Reporter
KARACHI: Pakistan’s current account balance swung back into surplus in August, posting a $75 million gain, reversing a $152 million deficit in the same month last year, central bank data showed on Wednesday.
Govt cuts fuel prices by 5-13pc on weak global crude
By Staff Reporter
ISLAMABAD: The government has slashed petrol and diesel prices by as much as Rs13.06 per litre, effective Monday.
ADB approves $320 million loan for KPK road project
By Staff Reporter
ISLAMABAD: The Asian Development Bank approved a $320 million loan to upgrade rural roads in Pakistan’s Khyber Pakhtunkhwa province, enhancing connectivity and economic growth, a statement said on Friday.
SBP delivers third straight rate cut, trims 200 bps as price pressures abate
By Staff Reporter
KARACHI: Pakistan’s central bank has lowered its key policy rate by 200 basis points to 17.5%, the third consecutive reduction since June, as inflation cools and growth prospects brighten.
Pakistan sees IMF deal within reach as financing talks advance
By Staff Reporter
ISLAMABAD: The government is in advanced talks to secure external financing assurances, a crucial step towards finalizing a $7 billion loan from the International Monetary Fund (IMF), said Finance Minister Muhammad Aurangzeb on Tuesday.
Petrol, diesel prices fall on third straight cut
By Staff Reporter
ISLAMABAD: The government on Saturday reduced petrol and diesel prices by 1.2 percent and 1.3 percent respectively, or Rs1.86 and Rs3.23 per litre, effective September 1, marking the third consecutive decrease since July 30.