KARACHI: The budget deficit swelled to 2.4 percent of gross domestic product in the first nine months of the fiscal year 2024-25, as hefty interest payments overshadowed a primary surplus, data from the Finance Division showed.
Economy
Stocks plunge 6pc after Pakistan-India clash, then recover
KARACHI: Stocks cratered as much as 6 percent at the opening bell after India launched strikes on Pakistan and Azad Kashmir, only to rebound as investors bet against a wider conflict.
Water war flares in Kashmir
ISLAMABAD: India has launched an arbitrary effort to increase the reservoir capacity of two major hydroelectric projects in occupied Kashmir, a provocative step that has intensified its standoff with Pakistan following the suspension of a decades-old water-sharing agreement.
India tensions imperil Pakistan’s economic gains, Moody’s
KARACHI: Heightened tensions between India and Pakistan threaten to unravel Pakistan’s hard-won economic progress, Moody’s Investors Service warned on Monday as worsening geopolitical friction risks choking off vital external financing and stalling fiscal reforms.
SBP’s surprise 100bps rate cut counters global, India tensions
KARACHI: Pakistan’s central bank cut its key policy rate by 100 basis points to 11 percent on Monday, resuming an easing cycle that has reduced the rate from a record 22% after a March pause, as inflation plummeted to near-zero levels amid collapsing food and energy prices.
FBR gets instant tax recovery power post court ruling
ISLAMABAD: The government has granted tax authorities sweeping powers to seize bank accounts, properties, and seal businesses without prior notice, immediately following rulings from the country’s superior courts to recover unpaid taxes.
IMF sticks to Pakistan review on May 9, defying India’s push
KARACHI: The International Monetary Fund (IMF) will proceed with its Executive Board meeting on May 9 to review Pakistan’s $7 billion bailout program, dousing speculation of a delay sparked by a media report that India is pressing global lenders to rethink funds to Islamabad after a deadly attack in occupied Kashmir.
Pakistan says IMF $7bn deal secure as India targets funds after Kashmir clash
ISLAMABAD: Pakistan’s $7 billion International Monetary Fund program remains firmly on course, a top official said on Friday, brushing aside India’s calls for the lender to reassess the country’s financial support.
Pakistan’s tax-to-GDP ratio set to reach 10.6pc by fiscal year-end
ISLAMABAD: Pakistan’s tax-to-GDP ratio is projected to reach 10.6% by the end of the current fiscal year, Finance Minister Muhammad Aurangzeb said on Friday, signaling incremental progress toward a 13% target under the country’s International Monetary Fund (IMF) program to stabilise its debt-strained economy.
Trade deficit balloons 55pc in April as exports fall, imports jump
ISLAMABAD: Pakistan’s trade deficit surged 55.2% month-on-month to $3.39 billion in April 2025, driven by a sharp contraction in exports and a double-digit rise in imports, official data showed on Friday.