ISLAMABAD: Pakistan and the United States have concluded a critical round of trade negotiations, reaching an understanding on an agreement that could prevent the re-imposition of a 29 percent tariff on Pakistani exports, Dawn newspaper reported on Saturday.
Macro
Pakistan grapples with LNG glut as Qatar deal backfires
ISLAMABAD: Pakistan is wrestling with a costly oversupply of liquefied natural gas (LNG) from a second long-term deal with Qatar, originally intended to shore up energy security but now forcing the government to weigh revising the agreement.
Pakistan appoints financial advisers for ZTBL privatisation
ISLAMABAD: The government has tapped a consortium led by Next Capital Limited as financial advisers to oversee the sale of Zarai Taraqiati Bank Limited (ZTBL), a state-owned agricultural lender, according to an official statement.
Pakistan’s foreign reserves exceed IMF target after China loan rollover
KARACHI: Pakistan’s foreign exchange reserves surged to $14.51 billion by the end of June, surpassing a target set by the International Monetary Fund, after China rolled over $3.4 billion in loans and the country secured additional financing from other sources, the central bank said.
Trade deficit widens to $26.3 billion in FY25 despite export growth
ISLAMABAD: Pakistan’s trade deficit swelled by 9 percent to $26.3 billion in the fiscal year 2024-25, as imports outpaced a modest rise in exports, data from the Pakistan Bureau of Statistics (PBS) showed on Wednesday.
Pakistan eyes offshore storage for surplus LNG as glut threatens $378 million in losses
ISLAMABAD: Pakistan is exploring offshore storage options for excess liquefied natural gas (LNG) cargoes as a gas supply glut threatens domestic producers with $378 million in annual losses, Reuters reported on Tuesday.
Pakistan reverses tariff reforms, raising doubts over trade agenda
ISLAMABAD: The government has backtracked on its tariff reform agenda, retaining regulatory duties on more than 300 import items, a decision that undermines its five-year Tariff Policy Reform plan and casts doubt on its commitment to streamlining trade rules, Dawn newspaper reported on Tuesday.
FBR misses tax collection target, faces uphill battle for next year
ISLAMABAD: The Federal Board of Revenue (FBR) fell short of its fiscal year 2024-25 tax target, collecting Rs11.735 trillion against an original goal of Rs12.97 trillion, according to provisional figures.
KSE-100 Index gains 60pc in FY25, best two-year performer globally
KARACHI: Pakistan’s benchmark KSE-100 Index hit a record high of 125,627.31 on Monday, closing the fiscal year 2024-25 with a remarkable 60% gain in rupee terms and 57% in US dollar terms, cementing its place among the world’s top-performing markets. The index rose one percent on the final trading day, propelled by robust year-end flows and China’s rollover of $3.4 billion in commercial loans.
Pakistan expects June inflation to hold steady at 3-4 percent as economic recovery gains traction
ISLAMABAD: Pakistan’s finance ministry forecasts inflation will stay between 3% and 4% in June, signaling stability in prices as the economy shows tentative signs of recovery bolstered by manufacturing gains and a stronger external position.