ISLAMABAD: Pakistan is gearing up to declare an export emergency as part of a sweeping push to revamp its economy, with officials aiming to ramp up shipments by 40% over the next four years and nearly triple them by 2035 to break free from reliance on IMF bailouts and foreign aid.
Micro
Pakistan bets on energy, tariff overhaul to double exports and avoid IMF return
ISLAMABAD: Pakistan is pushing for sweeping reforms to slash energy costs and revamp trade tariffs in a bid to more than double its exports to over $60 billion within three years, aiming to dodge another bailout from the International Monetary Fund once its current program winds down.
ADB warns $360 million Pakistan highway loan may lapse on bidding delays
ISLAMABAD: The Asian Development Bank has warned Pakistan that a $360 million loan for a key highway project risks going unspent and expiring next year amid persistent delays tied to a contentious bidding process.
KP warns of IMF surplus risk as federal transfers lag
PESHAWAR: Khyber Pakhtunkhwa’s provincial government has sounded the alarm over shortfalls in federal revenue transfers during the first half of the 2025-26 fiscal year, warning that the delays and reductions are jeopardising its ability to deliver a Rs157 billion budget surplus agreed upon with the International Monetary Fund.
Remittances rise 16 percent to $3.6 billion in December
KARACHI: Pakistan’s workers’ remittances surged to a monthly high of $3.6 billion in December, providing a vital boost to the country’s foreign-exchange reserves amid efforts to stabilize the economy under an International Monetary Fund bailout.
Defence Minister Asif says arms exports tested in India conflict could cut reliance on IMF bailouts
ISLAMABAD: Defence minister Khawaja Asif said on Tuesday that a surge in orders for the country’s fighter jets, spurred by its military performance in a brief but intense conflict with India last year, could soon make international bailouts unnecessary, potentially allowing Islamabad to break free from its longstanding dependence on the International Monetary Fund.
Pakistan’s central govt debt falls in July–Nov as currency gains offset domestic rise
ISLAMABAD: Pakistan’s central government debt declined in the first five months of the fiscal year as a stronger rupee and debt repayments helped ease the burden of foreign borrowings, even as domestic obligations ticked higher amid controlled spending.
Pakistan’s services exports surge 17 percent on tech boom, outpacing goods shipments
ISLAMABAD: Pakistan’s exports of services jumped 16.77% in the first five months of the fiscal year, propelled by a sharp rise in information technology shipments that helped the sector buck the uneven performance seen in commodity sales.
Govt plans Rs5 trillion domestic borrowing in fiscal third quarter
KARACHI: The government is set to borrow roughly Rs5 trillion from domestic banks in the January-to-March quarter through auctions of government securities, leaning heavily on local lenders to plug its fiscal deficit as external funding remains scarce.
FM Aurangzeb flags growth shortfall as population pressures mount
ISLAMABAD: Pakistan’s economy is stabilising after years of turmoil, but a 2.7 percent growth rate in the last fiscal year falls short of what’s needed to keep pace with a burgeoning population, Finance Minister Muhammad Aurangzeb said.