ISLAMABAD: Pakistan is set to launch a sweeping initiative in its upcoming budget to discourage cash usage and propel the nation toward a digital economy, targeting the fuel sector as its starting point, Dawn newspaper reported on Monday.
Commodities
Aurangzeb, Greer open talks to avert Trump’s 29pc reciprocal tariffs
ISLAMABAD: Pakistan has formally begun negotiations with the United States to tackle newly imposed reciprocal tariffs, with Finance Minister Muhammad Aurangzeb and US Trade Representative Ambassador Jamieson Greer launching the process via a conference call on Friday, a senior official said.
Inflation seen at 1.5-2pc in May
ISLAMABAD: Pakistan’s inflation is expected to ease to between 1.5% and 2% in May, building on a record-low 0.3% in April, as cooling prices signal a strengthening economic recovery.
Pakistan plans US firms mining concessions to sidestep looming tariffs
ISLAMABAD: Pakistan is offering mining concessions to US companies as it negotiates with Washington to sidestep steep tariffs, Reuters reported on Friday.
Economy grows 2.4pc in Q3 amid mixed sector performance
ISLAMABAD: Pakistan’s economy expanded by 2.4% in the third quarter of fiscal year 2024-25, bolstered by gains in agriculture and services, even as the industrial sector shrank, data from the Pakistan Bureau of Statistics (PBS) showed on Tuesday.
Trade deficit jumps 57pc in April to $3.4bn as exports slump
ISLAMABAD: The trade deficit ballooned 57 percent month-on-month to $3.4 billion in April as exports contracted sharply and imports surged, signaling mounting pressure on the country’s external accounts ahead of critical IMF budget talks.
MSCI adds three Pakistani cement stocks to Frontier Index
KARACHI: MSCI Inc. will add three Pakistani cement companies, DG Khan Cement Co., Maple Leaf Cement Factory Ltd., and Fauji Cement Co, to its Frontier Markets Index on May 30, lifting the country’s constituents to 26 from 23 and potentially drawing more foreign cash into its equity market.
Water war flares in Kashmir
ISLAMABAD: India has launched an arbitrary effort to increase the reservoir capacity of two major hydroelectric projects in occupied Kashmir, a provocative step that has intensified its standoff with Pakistan following the suspension of a decades-old water-sharing agreement.
SBP’s surprise 100bps rate cut counters global, India tensions
KARACHI: Pakistan’s central bank cut its key policy rate by 100 basis points to 11 percent on Monday, resuming an easing cycle that has reduced the rate from a record 22% after a March pause, as inflation plummeted to near-zero levels amid collapsing food and energy prices.
Pakistan says IMF $7bn deal secure as India targets funds after Kashmir clash
ISLAMABAD: Pakistan’s $7 billion International Monetary Fund program remains firmly on course, a top official said on Friday, brushing aside India’s calls for the lender to reassess the country’s financial support.