KARACHI: Pakistan’s current account swung to a surplus of $2.1 billion in the fiscal year 2024-25, marking the first annual surplus in 14 years and the largest in 22 years, driven by a surge in remittances and structural reforms, the State Bank of Pakistan (SBP) data showed on Friday.
Economy
Pakistan, Uzbekistan, Afghanistan sign pact for major regional railway project
ISLAMABAD: Pakistan, Uzbekistan, and Afghanistan signed a framework agreement on Thursday to conduct a joint feasibility study for the Uzbekistan-Afghanistan-Pakistan (UAP) Railway Project, a transformative initiative to link Central Asia to Pakistani seaports via Afghanistan, boosting regional trade and connectivity.
Pakistan gender pay gap hits 30 percent, defies regional norms: ILO
ISLAMABAD: In a nation where women have long confronted steep barriers to economic opportunity, a new International Labour Organisation (ILO) report has cast a harsh light on Pakistan’s widening gender pay gap.
Pakistanis spend Rs4.7 billion digitally on Eid sacrificial animals
KARACHI: Pakistanis spent Rs4.7 billion on sacrificial animals through digital transactions during this year’s Eid-ul-Azha, the State Bank of Pakistan said, signaling a shift toward cashless commerce in a traditionally cash-heavy market.
Pakistan in talks with IMF over sugar import tax exemptions amid domestic surplus concerns
ISLAMABAD: Pakistan is negotiating with the International Monetary Fund (IMF) over exemptions on duties and taxes for sugar imports, despite a structural benchmark with the fund that prohibits such tax breaks, a senior official said on Wednesday.
Pakistan lifts fuel prices again as crude volatility hits
ISLAMABAD: Pakistan increased petrol prices by 2% and high-speed diesel (HSD) by 4.2% on Tuesday, marking the second hike in under a month, as global oil market swings pressure the cash-strapped nation.
Pakistan slashes sugar import tender after IMF flags tax concerns
KARACHI: Pakistan’s state-run grain trader has slashed its sugar import tender by more than 80% after the International Monetary Fund raised concerns over tax exemptions on the commodity, a move exposing tensions between global financial pressures and a deepening domestic supply crisis.
Aurangzeb briefs Moody’s on economic turnaround, signals global market re-entry
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb signaled a return to global debt markets during a briefing with Moody’s, spotlighting a $1 billion financing deal from the Middle East and a steep drop in inflation as proof of the country’s economic rebound.
Petrol, diesel prices in Pakistan set to rise again, squeezing economy
ISLAMABAD: Petrol and diesel prices in Pakistan are poised to climb by as much as Rs6.60 per litre starting July 16, 2025, industry estimates show, threatening to pile more pressure on an economy already reeling from high living cost and fiscal strain.
Pakistan rolls out AI-powered tax form for salaried to simplify filing
ISLAMABAD: The Federal Board of Revenue (FBR) has rolled out a new interactive tax return form tailored for salaried individuals, aiming to simplify a process long criticized for its complexity.