By Staff Reporter
KARACHI: Pakistan attracted $1.64 billion in foreign direct investment during the first nine months of its fiscal year through March, a 14 percent increase from the same period a year earlier, as Chinese inflows doubled and textile and technology exports surged.
By Staff Reporter
KARACHI: The current account swung to a record monthly surplus of $1.2 billion in March 2025, its highest in at least 13 years, as worker remittances surged and lower oil prices eased import costs, bolstering efforts to stabilise the crisis-prone economy.
By Staff Reporter
ISLAMABAD: The government will invite fresh bids next week to privatize Pakistan International Airlines Corp. (PIA), the privatization ministry said on Thursday, doubling down on efforts to sell the debt-strapped flag carrier after a failed first attempt drained $4.3 million in public funds.
By Staff Reporter
KARACHI: Pakistan plans to sharply increase imports of cotton and soybean from the United States to cut its bilateral trade surplus in half and sidestep steep tariffs imposed by President Donald Trump, Bloomberg reported on Wednesday.
By Staff Reporter
ISLAMABAD: The antitrust regulator fined Nishat Hyundai Motors Rs25 million for misleading consumers during the 2020 launch of its Tucson SUV, accusing the automaker of using “bait advertising” to inflate demand before abruptly raising prices.
By Staff Reporter
ISLAMABAD: The large-scale manufacturing sector contracted by 1.9 percent year-on-year during the first eight months of the 2024-25 fiscal year (July-February), driven by steep declines in food, chemicals, and construction-linked industries, provisional data from the Pakistan Bureau of Statistics (PBS) showed on Tuesday.
By Staff Reporter
Fitch Ratings lifted Pakistan’s Long-Term Foreign-Currency Issuer Default Rating to ‘B-’ from ‘CCC+’, with a Stable Outlook, signalling cautious hope for economic stabilisation via a $7 billion IMF Extended Fund Facility and $1.3 billion Resilience Facility.
By Staff Reporter
ISLAMABAD: The government has decided against lowering local petroleum prices despite a recent drop in global oil prices, opting instead to channel the savings into major infrastructure projects in Balochistan, the Prime Minister’s House said on Tuesday.
By Staff Reporter
ISLAMABAD: Global ratings agency Fitch on Tuesday upgraded Pakistan’s foreign currency credit rating to ‘B-’ from ‘CCC+’, a move signaling growing economic stability as the country slashes budget deficits and implementing structural reforms under a IMF bailout programme. The outlook is stable.
ISLAMABAD: The International Monetary Fund (IMF) is intensifying pressure on Pakistan to tackle a Rs7 trillion tax shortfall and judicial inefficiencies, critical steps to shore up its shaky economy.
