ISLAMABAD: Prime Minister Shehbaz Sharif said on Saturday that the government has started disbursing relief funds directly into digital wallets for operators of public transport buses, wagons and freight vehicles, part of a rapid response to cushion the impact of sharply higher petroleum prices.
Economy
Pakistan rejects speculation over UAE deposit repayment as routine maturity
ISLAMABAD: The Foreign Office on Saturday dismissed as “misleading and unfounded” recent commentary surrounding the return of financial deposits from the United Arab Emirates, insisting the transaction was a straightforward maturity of bilateral commercial agreements.
Ex-PM Abbasi calls govt fuel policy unsustainable, demands deregulation and EVs to cushion war-driven shock
ISLAMABAD: Former Prime Minister Shahid Khaqan Abbasi on Saturday pressed the government to immediately deregulate petroleum product prices and accelerate the adoption of electric vehicles, saying the steps are the only viable response to the sharp rise in global oil costs triggered by the US-Israel war on Iran.
Petrol drops to Rs378 as govt cuts levy by Rs80 after record price shock
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced an Rs80-a-liter cut in the petroleum levy that will bring retail petrol prices down to Rs378 a liter starting at midnight Saturday.
Pakistan to repay full $3.5 billion UAE debt this month, ending rollover uncertainty
ISLAMABAD: Pakistan has decided to repay its entire $3.5 billion debt to the United Arab Emirates this month, a senior cabinet minister said on Friday, resolving weeks of speculation over whether Abu Dhabi would continue rolling over the short-term financing that had become a monthly ritual.
Sindh and Punjab unveil subsidies for motorcyclists, farmers and public transport after fuel price shock
ISLAMABAD: One day after the federal government imposed steep increases in fuel prices, the provincial administrations of Sindh and Punjab announced relief packages on Friday aimed at shielding motorcyclists, small farmers and public transporters from the impact of the hikes, while federal authorities made public transport free in the capital and halted planned toll increases nationwide.
Pakistan’s economy grows 3.89 percent in Q2, industry rebound outpaces agriculture slowdown
ISLAMABAD: Pakistan’s economy expanded 3.89 percent in the October-December quarter of fiscal 2026, accelerating from 2.18 percent a year earlier and edging ahead of the revised 3.63 percent pace in the preceding three months, according to official data released on Thursday.
Pakistan raises petrol to record Rs458.40 a liter, diesel to Rs520.35
ISLAMABAD: Pakistan sharply increased petrol and high-speed diesel prices on Thursday, reflecting record global oil costs triggered by the escalating conflict in the Middle East, while introducing targeted subsidies to cushion the impact on two-wheelers, small farmers and key transport sectors.
Pakistan seeks IMF leeway on fuel prices as Iran conflict drives oil surge
ISLAMABAD: Pakistan will press the International Monetary Fund for greater leeway in its bailout program to manage the fallout from the US-Israeli war on Iran, including measures to shield consumers from soaring petroleum prices, the Ministry of Finance said on Thursday.
Trade deficit widens 22.65 percent to $27.81 billion in nine months on weak exports
ISLAMABAD: Pakistan’s trade deficit expanded 22.65% to $27.81 billion in the first nine months of fiscal 2026, driven by a sharp drop in exports that more than offset higher imports, according to data from the Pakistan Bureau of Statistics released on Thursday.