ISLAMABAD: Only 25,698 Pakistani pilgrims will perform Hajj under the private scheme this year, far below the allocated quota, after private tour operators failed to meet Saudi Arabia’s deadlines and regulations, the religious affairs minister said on Friday.
Economy
Pakistan plans US firms mining concessions to sidestep looming tariffs
ISLAMABAD: Pakistan is offering mining concessions to US companies as it negotiates with Washington to sidestep steep tariffs, Reuters reported on Friday.
Pakistan’s $16.1bn foreign aid relies heavily on $8bn allied rollovers
ISLAMABAD: Pakistan secured $16.08 billion in foreign loans and grants in the first 10 months of fiscal 2024-25, falling short of its $19.2 billion target for the year ending June 30.
Pakistan, India extend airspace ban on each other’s aircraft
ISLAMABAD: Pakistan has extended its ban on Indian aircraft using its airspace until June 24, 2025, the Pakistan Airports Authority (PAA) announced on Friday, a move that underscores persistent tensions between the two nations following recent military clashes.
Pakistan pushes budget to June 10, IMF to continue talks post-visit
ISLAMABAD: Pakistan has postponed the presentation of its 2025-26 federal budget to June 10, a week later than the previously announced June 2, as the government grapples with unresolved fiscal negotiations with the International Monetary Fund, officials said on Friday.
Economy grows 2.4pc in Q3 amid mixed sector performance
ISLAMABAD: Pakistan’s economy expanded by 2.4% in the third quarter of fiscal year 2024-25, bolstered by gains in agriculture and services, even as the industrial sector shrank, data from the Pakistan Bureau of Statistics (PBS) showed on Tuesday.
Millions in Pakistan face severe food insecurity, malnutrition, UN report says
ISLAMABAD: Millions of people in Pakistan are enduring persistent hunger and malnutrition, a crisis deepened by relentless weather extremes and economic hardship, according to a new report from the United Nations.
IMF says Pakistan’s $7bn bailout fully financed with $6bn inflows ahead
ISLAMABAD: The International Monetary Fund confirmed Pakistan’s $7 billion bailout program is fully financed, projecting $6 billion in external inflows for the next fiscal year as key allies pledge to roll over debt.
Trade deficit jumps 57pc in April to $3.4bn as exports slump
ISLAMABAD: The trade deficit ballooned 57 percent month-on-month to $3.4 billion in April as exports contracted sharply and imports surged, signaling mounting pressure on the country’s external accounts ahead of critical IMF budget talks.
Current account surplus shrinks 96pc in April as imports surge
KARACHI: The current account posted a slight surplus of $12 million in April 2025, a steep fall from the $1.2 billion recorded in the previous month and a 96 percent decline from the $315 million in the same month last year, the State Bank of Pakistan (SBP) data showed on Friday.