ISLAMABAD: Finance Minister Muhammad Aurangzeb departed for the United States on Monday to engage in high-level negotiations aimed at sealing a trade pact after months of talks, a move set to deepen economic ties with Washington, a government statement said.
Macro
Pakistan sees July inflation holding steady at 3.5-4.5% as economy shows signs of recovery
ISLAMABAD: Inflation in Pakistan is expected to hover between 3.5% and 4.5% in July, the finance ministry said in its latest monthly economic report on Monday, with stable prices and improved supply conditions keeping price pressures in check after a sharp drop last fiscal year.
Pakistan extends remittance incentive scheme amid record inflows
ISLAMABAD: Prime Minister Shehbaz Sharif has decided to extend a critical remittance incentive scheme, directing the Ministry of Finance to release funds immediately to sustain a program that has driven overseas workers’ inflows to a record $38 billion in fiscal year 2024-25.
ECC approves green taxonomy, signals robust economic and environmental push
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet approved a Rs72 billion subsidy on Friday to help 50,000 low-income families buy homes, part of a plan to boost affordable housing.
Foreign Minister Dar expects US trade pact within days
ISLAMABAD: Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar said on Friday that a trade deal with the United States could be finalised within days, a move he framed as a cornerstone of improving relations between the two nations.
SBP to slow dollar reserve buildup to ease rupee pressure
KARACHI: Pakistan’s central bank will continue to build its dollar reserves but at a slower pace, aiming to avoid putting undue pressure on the rupee, Bloomberg reported on Friday.
Pakistan bonds rally to three-year highs after S&P upgrade
KARACHI: Pakistan’s long-dated dollar bonds rallied for a second day on Friday, hitting fresh three-year highs, after S&P Global upgraded the country’s sovereign credit rating to ‘B-’ with a stable outlook, citing the International Monetary Fund’s support in stabilising its strained finances.
Senate panel told Pakistan lost Rs2.25 trln to fake invoice tax fraud in two years
ISLAMABAD: Pakistan on Thursday reported more than Rs2.2 trillion in tax evasion through fake and flying invoices over the past two fiscal years, exposing deep flaws in its tax enforcement system and a significant loss of public revenue.
JLL steps down from Roosevelt hotel privatisation role over conflict of interest
ISLAMABAD: Jones Lang LaSalle Inc., the global real estate advisory firm tasked with guiding the privatisation of New York’s Roosevelt Hotel, has stepped down from its role, citing a potential conflict of interest, Pakistan’s Privatisation Commission said on Thursday.
BERLIN, GERMANY - APRIL 5: BYD electric cars stand at a BYD dealership on April 5, 2024 in Berlin, Germany. BYD, which stands for Build Your Dreams, is a Chinese manufacturer that went from making solar panels to electric cars. The company is seeking to gain a foothold in the German auto market and has opened over two dozen dealerships nationwide. (Footage by Sean Gallup/Getty Images)
China’s BYD to launch Pakistan-assembled EVs by mid-2026 as demand for hybrids surges
KARACHI: Chinese electric vehicle giant BYD plans to roll out its first car assembled in Pakistan by July or August 2026, aiming to capitalize on the growing demand for electric and plug-in hybrid vehicles in the region, Reuters reported said on Wednesday.