ISLAMABAD: The World Bank has appointed Bolormaa Amgaabazar as its new country director for Pakistan, effective Tuesday, succeeding Najy Benhassine, who has held the role since 2020.
Macro
China rolls over $3.4 billion in loans to Pakistan, boosting reserves to meet IMF target
ISLAMABAD: China has extended a critical financial lifeline to Pakistan by rolling over $3.4 billion in loans, a move that, alongside other recent inflows, is poised to lift the South Asian nation’s foreign exchange reserves above the $14 billion threshold mandated by the International Monetary Fund, a finance ministry source said on Sunday.
Pakistan to finalise Roosevelt Hotel privatisation structure at next CCoP meeting
ISLAMABAD: Pakistan is set to finalise the transaction structure for the privatisation of the iconic Roosevelt Hotel in New York at the next meeting of the Cabinet Committee on Privatization (CCoP), the government said on Saturday.
Pakistan leads global drop in sovereign default risk, Bloomberg data shows
ISLAMABAD: Pakistan has posted the steepest decline in sovereign default risk worldwide over the past year, topping Bloomberg Intelligence’s Global Emerging Market Rankings for credit risk improvement, as growing investor confidence underscores the country’s economic turnaround.
SBP reserves plunge to 11-month low on debt repayments
KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) plummeted by a record $2.66 billion in a single week, driven by hefty external debt repayments, marking the steepest decline in more than three years.
Pakistan parliament passes Rs17.57 trillion budget with deep cuts, defence hike
ISLAMABAD: Pakistan’s lower house of parliament approved a Rs17.57 trillion federal budget for the next fiscal year on Thursday, slashing spending by 7% while funneling nearly half the funds to debt servicing and boosting defense outlays by more than 20% after a sharp escalation in tensions with arch-rival India.
PM Sharif rolls out agriculture reforms to boost economy, aid farmers
ISLAMABAD: Prime Minister Shehbaz Sharif unveiled a broad package of agricultural reforms on Wednesday, calling the sector the “backbone” of the nation’s economy and pledging to lift productivity while cutting costs for farmers.
Pakistan softens tax enforcement, approves Rs3.951 trillion budget amid recovery signals
ISLAMABAD: The government has softened its tax enforcement stance while greenlighting a Rs3.951 trillion budget, striking a delicate balance between fostering compliance and fueling economic growth.
Digital payments hit two billion, dominate 89pc of retail transactions
KARACHI: Digital payments in Pakistan reached 2 billion transactions in the third quarter of fiscal year 2025, capturing 89% of total retail payments, as the country’s shift to a cashless economy gained momentum, the State Bank of Pakistan (SBP) reported on Wednesday.
Nepra cuts base power tariff by Rs1.49 per unit for next fiscal year
ISLAMABAD: Pakistan’s energy regulator slashed the base power tariff by Rs1.49 per unit for the next fiscal year, offering limited relief to consumers grappling with rising electricity costs.