KARACHI: Pakistan’s current account swung to a surplus of $2.1 billion in the fiscal year 2024-25, marking the first annual surplus in 14 years and the largest in 22 years, driven by a surge in remittances and structural reforms, the State Bank of Pakistan (SBP) data showed on Friday.
Macro
Pakistan lifts fuel prices again as crude volatility hits
ISLAMABAD: Pakistan increased petrol prices by 2% and high-speed diesel (HSD) by 4.2% on Tuesday, marking the second hike in under a month, as global oil market swings pressure the cash-strapped nation.
Pakistan slashes sugar import tender after IMF flags tax concerns
KARACHI: Pakistan’s state-run grain trader has slashed its sugar import tender by more than 80% after the International Monetary Fund raised concerns over tax exemptions on the commodity, a move exposing tensions between global financial pressures and a deepening domestic supply crisis.
Aurangzeb briefs Moody’s on economic turnaround, signals global market re-entry
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb signaled a return to global debt markets during a briefing with Moody’s, spotlighting a $1 billion financing deal from the Middle East and a steep drop in inflation as proof of the country’s economic rebound.
Petrol, diesel prices in Pakistan set to rise again, squeezing economy
ISLAMABAD: Petrol and diesel prices in Pakistan are poised to climb by as much as Rs6.60 per litre starting July 16, 2025, industry estimates show, threatening to pile more pressure on an economy already reeling from high living cost and fiscal strain.
Pakistan rolls out AI-powered tax form for salaried to simplify filing
ISLAMABAD: The Federal Board of Revenue (FBR) has rolled out a new interactive tax return form tailored for salaried individuals, aiming to simplify a process long criticized for its complexity.
Pakistan to sell PIA assets by year-end as privatization enters final stretch
ISLAMABAD: Pakistan is accelerating plans to sell the operational assets of its struggling national carrier, Pakistan International Airlines Co. (PIA), targeting completion by the last quarter of 2025, a parliamentary panel was told on Monday.
Finance Minister Aurangzeb defends FBR powers, calls on banks to drive growth
KARACHI: Finance Minister Muhammad Aurangzeb on Monday defended the Federal Bureau of Revenue’s (FBR) expanded powers to combat sales tax fraud, dismissing criticism that they overreach into income tax matters.
IMF praises Pakistan’s ‘strong’ performance under $7 billion loan program
ISLAMABAD: Pakistan’s efforts to stabilize its economy under a $7 billion International Monetary Fund loan program have won praise from the IMF’s country representative, Mahir Binici, who called the nation’s performance “strong so far,” a statement from the Islamabad-based Sustainable Development Policy Institute (SDPI) said.
Pakistan seeks $1 billion valuation for New York’s Roosevelt Hotel in JV deal
KARACHI: Pakistan is targeting a valuation of at least $1 billion for the Roosevelt Hotel it owns in New York and is prepared to sell a minority stake in the prime Manhattan property as it searches for a redevelopment partner, Reuters reported, citing a senior Pakistani official.