ISLAMABAD: Pakistan rejected the only bid submitted for an emergency cargo of liquefied natural gas, deeming the price too high even as the South Asian nation scrambles to plug a supply gap left by halted shipments from Qatar.
Economy
Petrol, diesel prices rise as Mideast tensions keep oil elevated
ISLAMABAD: Pakistan raised retail fuel prices for a second consecutive day on Tuesday, as the government’s new daily pricing mechanism continued to pass through volatility from renewed fighting between the United States and Iran that has rattled global oil markets.
Lawmakers push back on IMF plan to end export zones
ISLAMABAD: Pakistan will eliminate tax and duty concessions for its export processing zones by 2035 under conditions attached to a $7 billion International Monetary Fund loan program, a senior government official told lawmakers, as a Senate panel pressed the administration to renegotiate terms it warned could damage industrial output and investor confidence.
Pakistan’s second Eurobond of 2026 tests investors’ appetite for longer debt
Pakistan is asking bond investors for a longer commitment this time. The government began marketing a dual-tranche dollar bond with five- and 10-year maturities on Tuesday, its second international debt sale this year and a bet that improving credit ratings will persuade money managers to hold its debt further out on the curve than they did in April.
Fitch rates Pakistan’s planned dollar bonds B-, flags external liquidity risk
KARACHI: Fitch Ratings assigned a B- rating to Pakistan’s proposed US dollar-denominated bond on Tuesday, placing the sovereign debt sale firmly in speculative-grade territory as the country works to shore up its external finances.
Pakistan August inflation jumps to 11.1 percent, complicating next rate move
ISLAMABAD: Consumer prices in Pakistan climbed more than economists had projected in August, complicating the central bank’s next policy move as tensions in the Middle East raise the risk of further cost pressure ahead.
Pakistan rushes to buy spot LNG cargo as gas shortage triggers blackouts
ISLAMABAD: Pakistan is seeking an emergency spot cargo of liquefied natural gas for delivery in the first week of September, as a shortfall in the fuel needed to run the country’s power plants leaves millions of households facing extended blackouts.
Pakistan says 40 million hold crypto accounts, third-biggest market
ISLAMABAD: Pakistan has become the world’s third-largest cryptocurrency market, with roughly 40 million residents now holding accounts linked to digital assets, according to the head of the country’s newly formed virtual-asset regulator.
FBR beats two-month revenue target despite August shortfall
ISLAMABAD: The tax authority collected 901 billion rupees in August, missing its target by 29 billion rupees and leaving the pace of revenue growth well short of the roughly 17% annual increase required to meet a target tied to the country’s International Monetary Fund loan program.
Inflation seen near 11 percent in August as floods, credit slump threaten growth
ISLAMABAD: Inflation is projected to hold in a range of 10% to 11% in August, as global commodity and energy costs continue to pressure consumer prices even as the country contends with a slump in foreign investment and a deepening contraction in private-sector lending, the Finance Division said.