By Staff Reporter
ISLAMABAD: The World Bank has approved a $300 million International Development Association (IDA) loan to support the Punjab government’s efforts to combat air pollution in the province.
Economy
Petrol prices drop by marginal Re1/liter ahead of Eid
By Staff Reporter
ISLAMABAD: The government has trimmed petrol prices by Re1 per litre ahead of Eidul Fitr to avert fuel shortages during the holiday rush.
Pakistan digital payments jump 11pc on mobile banking surge
By Staff Reporter
KARACHI: Pakistan’s digital payment landscape continued to strengthen in the second quarter, with retail transactions increasing 11 percent in volume to Rs2.143 billion and 12 percent in value to Rs154 trillion.
Nepra to weigh government’s Rs1.71/unit tariff cut proposal
By Staff Reporter
ISLAMABAD: The government has petitioned the National Electric Power Regulatory Authority (Nepra) to slash electricity prices by Rs1.71 per unit, a modest cut to support consumers and struggling industry.
IMF-backed token Re1 power tariff cut hits legal roadblock
By Staff Reporter
ISLAMABAD: Pakistan has secured International Monetary Fund (IMF) approval for a modest Re1 per unit cut in electricity prices, but the meager relief hinges on a contentious levy on industrial gas users—a condition now mired in legal disputes.
SBP reserves fall 4.8pc to six-month low in one week on debt repayments
By Staff Reporter
KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $540 million or 4.84 percent in a single week, reaching a six-month low of $10.61 billion as of March 21, data released on Thursday showed, driven primarily by external debt repayments.
Govt pauses solar net metering overhaul after backlash
By Staff Reporter
ISLAMABAD: The federal cabinet on Wednesday mandated a thorough review of controversial changes to the country’s solar net metering policy, responding to widespread criticism from consumers, traders, and even senior government figures.
Economy grows 1.73 percent in second quarter
By Staff Reporter
ISLAMABAD: Pakistan’s economy expanded 1.73 percent in the second quarter of the fiscal year 2024-25, driven by solid growth in agriculture and services, despite a slight contraction in the industrial sector, the National Accounts Committee (NAC) said on Wednesday.
IMF staff approves $1 billion loan, $1.3 billion RSF for Pakistan
Pakistan has reached a staff-level agreement with the IMF, unlocking $1 billion under the Extended Fund Facility (EFF) and providing $1.3 billion under the Resilience and Sustainability Facility (RSF). The agreement, subject to IMF Executive Board approval, supports Pakistan’s efforts in building resilience to natural disasters and promoting climate adaptation, while also praising the country’s progress in restoring macroeconomic stability.
UK retains ban on PIA over safety issues
The UK Department for Transport confirmed on Tuesday, that Pakistan International Airlines (PIA) will remain on its air safety list, thwarting hopes of an imminent return to British skies following a ban imposed in July 2020 over a fake pilot license scandal. Despite recent optimism after a British Air Safety Committee meeting and PIA’s resumption of flights to Europe in January, the department emphasized a “rigorous procedure” for lifting restrictions, with the UK Civil Aviation Authority still engaging Pakistani officials.