By Staff Reporter
KARACHI: Pakistan’s central bank awarded the nation’s first digital retail bank license to Easypaisa Bank Ltd., paving the way for the lender to offer commercial digital banking services.
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Pakistan to launch fresh bid to privatize debt-ridden PIA
By Staff Reporter
ISLAMABAD: Pakistan plans a fresh attempt to privatize its debt-ridden national airline, Pakistan International Airlines (PIA), Prime Minister Muhammad Shehbaz Sharif said on Monday, after a previous bid failed in October.
SBP slashes key rate to 12pc as inflation cools
By Staff Reporter
KARACHI: Pakistan’s central bank lowered its benchmark interest rate by 100 basis points to 12 percent on Monday, cutting borrowing costs for the sixth time since June 2024 as inflation slows.
January CPI seen at 2.5pc-3pc as food prices ease
By Staff Reporter
KARACHI: Pakistan’s consumer price index (CPI) is expected to drop to a nine-year low in January, with inflation forecast to range between 2.5 percent and 3.0 percent year-over-year, a research report by brokerage Topline Securities showed.
Pakistan’s current account swings to $1.2 billion surplus in first half
By Staff Reporter
KARACHI: Pakistan’s current account swung to a surprise surplus of $1.2 billion in the first half of the fiscal year 2025, driven by higher remittances and export growth.
IMF trims Pakistan’s GDP growth outlook to 3pc
By Staff Reporter
ISLAMABAD: Pakistan’s economic growth is expected to be 3 percent in 2025, the International Monetary Fund (IMF) said, trimming its earlier forecast to match the central bank’s estimate of 2.5 percent to 3.5 percent.
Cigarette smuggling chokes Pakistan’s coffers
By Staff Reporter
The International Monetary Fund (IMF) has reported that Pakistan’s tax compliance gap stands at 3.5 percent of its Gross Domestic Product (GDP), with key sectors including retail, transport, and real estate contributing significantly to the shortfall.
Pakistan moves to calm IMF fears with tax hikes, asset sales
By Staff Reporter
ISLAMABAD: Pakistan will implement tax hikes, privatize state assets and overhaul its tax regime to address IMF concerns, as it seeks to plug a $110.5 billion financing gap through 2029, the International Monetary Fund (IMF) documents showed.
Pakistan axes five power deals to stem Rs411 billion in losses
By Staff Reporter
ISLAMABAD: The cabinet approved the termination of five independent power producer (IPP) agreements on Thursday, scrapping “take-or-pay” contracts that would expected to save the country Rs411 billion
86pc of Pakistani companies evading taxes, govt says
By Staff Reporter
ISLAMABAD: Pakistan plans a nationwide crackdown on tax evasion on Thursday, after revealing that a staggering 86 percent of companies operating in the country are not registered for sales tax, resulting in an estimated Rs3.4 trillion in lost revenue annually.