ISLAMABAD: Pakistan’s exports tumbled for a fifth consecutive month in December, plunging more than a fifth from a year earlier and driving the trade deficit wider amid sluggish global demand and soaring domestic costs.
Commodities
Inflation slow to 5.6 percent in December, matching government estimate
ISLAMABAD: Pakistan’s consumer prices inflation rose 5.6% in December from a year earlier, easing from November’s pace and landing within the government’s projected range as food costs dropped.
Critical mineral supply chains shift as US buyers turn to Pakistan and Tajikistan – report
ISLAMABAD: American buyers are increasingly courting suppliers in Pakistan and Tajikistan for antimony, a critical metal used in munitions, batteries and flame retardants, as concerns mount over Beijing’s grip on global production, FT reported on Monday.
Pakistan looks to convert $1 billion UAE deposit into equity to cut debt burden
ISLAMABAD: Pakistan is pushing to transform $1 billion in deposits from the United Arab Emirates into equity investments as part of a broader strategy to pare back its external debt load, Deputy Prime Minister Ishaq Dar said, after high-level talks with the Gulf nation’s leader.
IFC backs Engro Fertilisers with Rs33.6 billion local-currency guarantee
KARACHI: The International Finance Corp. has made its first local-currency investment in Pakistan, extending a credit guarantee to back financing for a major fertilizer producer in a move aimed at shoring up the country’s vital agriculture sector.
Pakistan warns of crop losses as India disrupts Jhelum flows days after Chenab manipulation
ISLAMABAD: Pakistan accused India on Friday of deliberately disrupting the flow of the Jhelum River by abruptly holding and releasing water from upstream hydroelectric projects, a move that officials said was exacerbating a water crisis already straining the country’s vast agricultural heartland after similar fluctuations in the Chenab River.
Pakistan secures $940 million from ADB, World Bank for SOE reform, climate and water projects
KARACHI: Pakistan received a fresh influx of international financing on Friday as the Asian Development Bank approved $540 million to overhaul its struggling state-owned enterprises and bolster coastal defenses against climate disasters, while the World Bank separately greenlighted $400 million to expand water and sanitation services in the country’s most populous province.
Floods to cut GDP growth by 0.5 percent, finance minister warns of eroding recovery
ISLAMABAD: Finance minister said this year’s climate-driven floods are expected to shave 0.5% off the country’s GDP growth forecast, warning that the economic cost of extreme weather is now eroding the nation’s recovery prospects.
Inflation eases to 6.1 percent in November as food, energy pressures moderate
ISLAMABAD: Pakistan’s inflation cooled slightly to 6.1% in November, staying within the government’s forecast range as moderating fuel costs and improved crop supplies helped offset lingering pressures from floods and border disruptions.
Sugar mills face probe for alleged cartel on cane prices, crushing schedule
ISLAMABAD: The antitrust regulator has issued show-cause notices to 10 sugar mills in Punjab province for allegedly colluding to delay the start of the crushing season and fix sugarcane procurement prices at Rs400 per maund, in a move that could disrupt sugar supplies and inflate retail costs.