ISLAMABAD: The trade deficit widened by 39 percent to $12.7 billion in the July-October period of fiscal year 2025-26, as exports fell nearly across the board except for textiles and imports surged, led by a sharp rise in petroleum purchases, official data showed on Tuesday.
Macro
ECC clears Rs50.9 billion security outlay, opens offshore block to Turkish operator
ISLAMABAD: The Economic Coordination Committee of the cabinet ECC) on Tuesday approved technical supplementary grants totalling Rs50.94 billion for defence and security projects and cleared a new offshore oil and gas exploration consortium under Turkish operatorship, as the government seeks to bolster national security and revive foreign investment in the energy sector.
Pakistan’s dollar bonds seen extending rally on IMF discipline and market return hopes
KARACHI: Pakistan’s US dollar-denominated sovereign bonds, already the standout performers among high-yield emerging-market credits this year, are expected to push higher as investors bet on credit-rating upgrades and a successful return to international capital markets in 2026, fund managers said.
Pakistan opens major maritime expo to tap ‘blue economy’ potential
KARACHI: Planning minister on Monday inaugurated a major international maritime exposition in the southern port city of Karachi, calling the country a “natural maritime bridge” between East and West and urging greater investment in an underdeveloped sector that he said could unlock billions in economic potential.
Pakistan needs deeper trade deals, flexible currency to revive exports, World Bank says
ISLAMABAD: Pakistan must revamp its lopsided trade pacts with 10 bilateral partners, adopt a market-driven exchange rate and slash energy and other input costs to reverse more than three decades of slumping exports and underpin lasting economic growth, according to the World Bank.
Pakistan tax filings jump 18 percent as PM Sharif hails reform gains
ISLAMABAD: Pakistan’s tax returns for the fiscal year ending June 2025 surged by 17.65% to a record 5.912 million, a milestone Prime Minister Shehbaz Sharif attributed to rising public confidence in the government’s economic overhaul and a broader crackdown on evasion.
Pakistan pledges debt turnaround as ratio hits 74.5 percent of GDP
ISLAMABAD: The finance ministry projected a plunge in the public debt-to-GDP ratio to 63.3% by fiscal 2028, down from a record 74.5% at the end of June, banking on fiscal consolidation and macroeconomic stability to tame liabilities that swelled 13% in a year.
FBR misses October target by Rs76bn as shortfall balloons
ISLAMABAD: The Federal Board of Revenue posted a Rs76 billion shortfall in October tax collections, pushing the cumulative miss for the first four months of fiscal year 2026 to Rs274 billion and raising pressure for austerity measures under its $7 billion IMF bailout.
Green Climate Fund backs $250 million ‘glaciers to farms’ program for Pakistan, Central Asia
ISLAMABAD: The Green Climate Fund, the world’s largest dedicated source of climate financing, approved $250 million on Wednesday for an ambitious decade-long program to fortify water and farming systems across glacier-dependent swaths of Central Asia, the South Caucasus and Pakistan, as melting ice imperils millions of livelihoods.
World Bank cuts Pakistan growth forecast on flood fallout
ISLAMABAD: Pakistan’s economic recovery faces fresh headwinds from devastating floods, with the World Bank slashing its growth projection for fiscal 2026 and warning of persistent inflation pressures amid strained public finances.