ISLAMABAD: The government on Thursday approved $390 million to fund a 1,350-km railway network for the Reko Diq mining project in Balochistan, a key step to develop one of the world’s largest untapped copper-gold deposits, the Finance Division said.
Commodities
Inflation set to surge to 6.5 percent in September on flood-hit food prices
KARACHI: The headline inflation is poised for a sharp rebound to 6.5% year-on-year in September after edging up to 3% in August, driven by flood-related spikes in food prices, brokerage Topline Securities said in a report on Wednesday.
Punjab wheat transport curbs spark flour shortages, soaring prices in other provinces
ISLAMABAD: An unannounced restriction on the interprovincial movement of wheat from Punjab, the country’s agricultural heartland, has triggered a flour shortage and sent prices soaring in other provinces, igniting a fierce debate over constitutional rights, market deregulation, and food security.
UN mapping flood-hit farmland in Pakistan with satellite data to guide recovery
ISLAMABAD: The United Nations’ Food and Agriculture Organization is mapping the toll of Pakistan’s monsoon floods on its vital farmlands, using high-resolution satellite imagery and localized crop datasets to pinpoint losses with unprecedented precision.
SBP holds rates steady at 11 percent as floods threaten crop harvest, food inflation
KARACHI: The central bank kept its benchmark interest rate unchanged at 11% for a third consecutive meeting, opting for caution as floods ravage the nation’s agricultural heartland and threaten to stoke food inflation just as the economy shows signs of stabilization.
SBP set to hold rate at 11 percent as floods stoke inflation risks
KARACHI: The central bank is set to keep its benchmark interest rate on hold at 11 percent when its Monetary Policy Committee convenes on Monday, as fresh flooding threatens to stoke inflation in a fragile economy already strained by energy costs.
FM Aurangzeb pledges price stability as floods swamp farmland, stoke food inflation fears
ISLAMABAD: Pakistan is scrambling to contain inflation and protect low-income households as devastating floods wreak havoc on its agricultural heartland, threatening to derail a fragile economic recovery.
Pakistan declares national climate, farm emergencies as monsoon floods kill 928
ISLAMABAD: Pakistan declared a national climate emergency and an agricultural emergency on Wednesday as relentless monsoon floods ravaged farmland, displaced millions and threatened to exacerbate food shortages in a country already grappling with economic pressures.
Dubai’s DP World partners with Pakistan to build $400 million freight corridor
KARACHI: DP World Ltd., the Dubai-based global port operator, has signed a commercial agreement with Pakistan’s National Logistics Corporation and Pakistan Railways to develop the first phase of a $400 million dedicated freight corridor linking Karachi Port to the Pipri marshalling yard, a key rail hub on the city’s outskirts, a statement said on Wednesday.
Pakistan, China to share trade data electronically to curb under-invoicing
ISLAMABAD: Pakistan and China have agreed to exchange trade documents and data electronically to curb rampant under-invoicing that’s plagued Pakistan’s economy, as the two nations seek to deepen ties in trade, defence and technology amid ongoing regional tensions.