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.
Energy
Petrol rises to Rs253.63/liter; diesel steady at Rs254.64/litre
ISLAMABAD: The government has raised the price of petrol by Re1 to Rs253.63 per litre for the next 15 days, effective June 1, while leaving high-speed diesel prices unchanged at Rs254.64 per litre, even as global oil markets remain largely subdued.
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 allocates 2,000MW to power Bitcoin mining, AI data centers
ISLAMABAD: Pakistan has allocated 2,000 megawatts of electricity to power Bitcoin mining and artificial intelligence data centers, marking a significant step in its bid to position itself as a global digital hub.
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.
Pakistan pushes budget to June 10, IMF to continue talks post-visit
ISLAMABAD: Pakistan has postponed the presentation of its 2025-26 federal budget to June 10, a week later than the previously announced June 2, as the government grapples with unresolved fiscal negotiations with the International Monetary Fund, officials said 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.
Petrol prices steady, diesel slashed to ease industry burden
ISLAMABAD: The government has kept petrol prices steady while trimming the cost of high-speed diesel by Rs2 per litre for the fortnight ending May 31, marking the third time in two months it has refrained from fully passing on lower international oil prices to consumers.
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.