The headline inflation is expected to remain steady within a 1-1.5 percent range in March, according to the Finance Division’s Monthly Economic Update and Outlook. However, the ministry warned that inflation could edge up to 2-3 percent in April due to potential volatility in food and energy prices. The country’s inflation has been on a declining trend since peaking at 38 percent in May 2023, and the government’s efforts to tighten spending and boost revenue have led to a primary surplus and a narrowed fiscal deficit.
Economy
Drought alert issued for three provinces as temperatures soar, rainfall plummets
By Staff Reporter
ISLAMABAD: The Pakistan Meteorological Department (PMD) issued a drought alert on Monday for Sindh, Balochistan, and Punjab provinces, where rainfall from Sept. 1, 2024, to March 21, 2025, was 40 percent below normal.
IMF rejects Pakistan’s request to cut property transaction taxes
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has refused to entertain the Federal Board of Revenue’s (FBR) request to reduce transaction taxes for the property sector, dashing earlier claims of an agreement in principle, local media reported.
Pakistan to overhaul state-owned power deals
By Staff Reporter
ISLAMABAD: Pakistan will overhaul agreements with state-owned independent power producers, mirroring changes made to pacts with private operators, as it seeks to boost transparency and sustainability in the energy sector, Energy Minister Sardar Awais Leghari said on Tuesday.
Easypaisa wins Pakistan’s first digital retail banking license
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.
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.
China denies criticizing Pakistan’s handling of $60 billion economic corridor projects
By Staff Reporter
ISLAMABAD: China’s embassy in Islamabad on Monday denied a report that a top Chinese official had criticized Pakistan’s handling of the $60 billion China-Pakistan Economic Corridor (CPEC), a flagship project of President Xi Jinping’s Belt and Road Initiative.
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.
Pakistan’s new $246 million Gwadar airport takes off
By Staff Reporter
KARACHI: Pakistan inaugurated its new Gwadar International Airport, a $246 million Chinese-backed project that aims to become a key hub for trade and tourism in the region, as the country deepens its economic ties with China.
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.