The head of Pakistan’s virtual assets regulator has asked the country’s most influential Islamic seminary to distinguish between speculative cryptocurrencies and digital tokens backed by real assets, an attempt to contain the fallout from a religious ruling that has unsettled the government’s crypto ambitions.
Economy
Pakistan appoints ADB to advise on Islamabad airport privatisation under IMF reforms
ISLAMABAD: Pakistan formally appointed the Asian Development Bank as transaction adviser for the outsourcing of Islamabad International Airport on Wednesday, deploying a multilateral institution for the first time in the country’s privatisation program as it works to meet commitments tied to its International Monetary Fund loan.
FM Aurangzeb says Pakistan’s provincial funding formula is unsustainable
ISLAMABAD: Finance minister said the government must overhaul the formula that determines how the country distributes federal tax revenue among its four provinces, arguing that a system weighted overwhelmingly toward population size has become untenable as the nation grapples with one of the world’s fastest-growing populations.
Pakistan’s farms are shrinking, and its aquifers are paying the price
ISLAMABAD: Pakistan’s farmland is fracturing into smaller and smaller pieces, and the water that irrigates it is slipping out of state hands entirely, according to the country’s newly released Agricultural Census, a survey that offers the most complete statistical picture yet of a rural economy in the middle of an unplanned transformation.
Small retailers get simplified tax route under new FBR draft
ISLAMABAD: Pakistan’s tax authority unveiled a draft scheme on Tuesday that would let small shopkeepers pay a flat 1% levy on turnover in exchange for freedom from routine audits and digital invoicing requirements, the latest attempt by the government to widen a tax base that has long relied on a narrow slice of compliant filers.
Pakistan stocks post steepest drop in months as Hormuz blockade returns
KARACHI: Pakistani stocks suffered their sharpest one-day selloff in months on Tuesday, as investors dumped equities across the board after US President Donald Trump reinstated a US naval blockade of Iran and floated a 20% toll on cargo passing through the Strait of Hormuz, one of the world’s most critical energy corridors.
Pakistan mulls move to daily fuel pricing as Hormuz crisis roils oil markets
ISLAMABAD: Pakistan is considering moving to daily or twice-weekly reviews of petrol and diesel prices, as the government scrambles to insulate consumers from a renewed spike in global oil prices triggered by the closure of the Strait of Hormuz.
Pakistan mandates battery storage in first competitive power auction after 30-year wait
ISLAMABAD: Pakistan’s power sector regulator is being asked to approve mandatory battery storage requirements for a landmark competitive electricity auction, as the government moves to address grid instability caused by the rapid growth of solar power, Dawn newspaper reported on Tuesday.
Pakistan car sales accelerate as buyers rush to beat budget tax rises
KARACHI: Pakistan’s automotive industry closed the 2026 financial year with its strongest performance in years, as falling interest rates, a raft of new model launches and a late rush of pre-budget buying combined to lift sales across almost every category of vehicle.
Pakistan narrows mobile internet gender gap to 8 percent – but ownership divide remains widest globally
ISLAMABAD: Pakistan has recorded the fastest reduction in its mobile internet gender gap of any country tracked globally, according to the government, narrowing the divide between men’s and women’s usage from 38 percent in 2024 to 8 percent this year.