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.
Economy
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.
Pakistan’s current account swings to $1.2 billion surplus in first half
By Staff Reporter
KARACHI: Pakistan’s current account swung to a surprise surplus of $1.2 billion in the first half of the fiscal year 2025, driven by higher remittances and export growth.
IMF trims Pakistan’s GDP growth outlook to 3pc
By Staff Reporter
ISLAMABAD: Pakistan’s economic growth is expected to be 3 percent in 2025, the International Monetary Fund (IMF) said, trimming its earlier forecast to match the central bank’s estimate of 2.5 percent to 3.5 percent.
Rs7 trillion lost to tobacco smuggling
By Staff Reporter The Federal Board of Revenue (FBR) has identified tax evasion due to smuggled tobacco as a key factor of tax losses to
Cigarette smuggling chokes Pakistan’s coffers
By Staff Reporter
The International Monetary Fund (IMF) has reported that Pakistan’s tax compliance gap stands at 3.5 percent of its Gross Domestic Product (GDP), with key sectors including retail, transport, and real estate contributing significantly to the shortfall.
Diesel prices rise 2pc, petrol steady
By Staff Reporter
ISLAMABAD: The government has increased diesel prices by 2 percent or 5 rupees per litre to Rs251.29, while keeping petrol prices steady at Rs247.03 rupees for the next fortnight, the Ministry of Finance said late on Tuesday.