KARACHI: Komatsu Ltd, the Japanese heavy machinery titan, will invest $100 million in a mining equipment maintenance hub in Pakistan and has clinched a $440 million deal with Barrick Gold Corp. to supply the Reko Diq mine, underscoring optimism about the country’s mining prospects, Nikkei Asia reported.
Commodities
PM Sharif rolls out agriculture reforms to boost economy, aid farmers
ISLAMABAD: Prime Minister Shehbaz Sharif unveiled a broad package of agricultural reforms on Wednesday, calling the sector the “backbone” of the nation’s economy and pledging to lift productivity while cutting costs for farmers.
Pakistan power output jumps 21 percent in May, signals economic uptick
KARACHI: Power generation in Pakistan surged 21% in May 2025 from the previous month, hitting a nine-month high and signaling a potential revival in economic activity as lower electricity prices and seasonal factors spurred demand.
Barrick inks $440 million deal with Komatsu for Pakistan’s Reko Diq mine
KARACHI: Barrick Gold Corp., the Canadian mining giant, signed a $440 million deal with Japan’s Komatsu Ltd. for heavy mining equipment to develop Pakistan’s Reko Diq copper-gold project, one of the world’s largest undeveloped deposits.
SAB approves 500,000 tonnes of sugar imports to ease shortage
ISLAMABAD: Pakistan has approved the import of 500,000 metric tonnes of sugar as part of a planned total of 750,000 metric tonnes to tackle a severe domestic shortage and record-high prices triggered by an aggressive export drive that depleted local stocks.
Pakistan assures ample oil stocks after US strikes on Iran rattle markets
ISLAMABAD: The government, seeking to ease concerns over oil supplies, has assured the public that the country holds sufficient petroleum stocks to handle disruptions from the intensifying U.S.-Iran conflict in the Middle East following US military strikes on Iran’s nuclear facilities.
Pakistan to import 750,000T of sugar after export surge fuels price spike
ISLAMABAD: Pakistan is set to import 750,000 metric tonnes of sugar following a massive export push that drained domestic supplies and sent prices soaring to all-time highs.
May trade deficit narrows m/m but widens y/y
ISLAMABAD: The trade deficit shrank in May from the previous month as exports surged, though it widened compared to the same month a year earlier, data from the Pakistan Bureau of Statistics showed on Wednesday.
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.
Pakistan says oil stocks can weather Middle East storm, but risks linger
ISLAMABAD: Pakistan currently holds sufficient petroleum reserves and faces no immediate threat of supply disruptions, the finance ministry said on Monday, even as escalating tensions between Israel and Iran inject fresh volatility into global oil markets.