ISLAMABAD: The Economic Coordination Committee of the cabinet cut the interest rate for its main subsidised mortgage program to a uniform 5 percent, heeding a direct call from the prime minister to make home loans more affordable for a wider range of buyers.
Economy
Fuel prices poised for Rs4.50-Rs7 jump as global oil edges higher
KARACHI: The government is preparing to lift prices of all petroleum products by Rs4.50 to Rs7 a liter starting Saturday for the fortnight through March 15, the first broad increase in weeks, after benchmark crude posted modest gains amid regional tensions.
PSX tops 500,000 investors for first time on retail surge
KARACHI: The number of investors at the Pakistan Stock Exchange crossed the half-million mark for the first time, the National Clearing Company of Pakistan said Thursday, capping a multi-year expansion fueled by strong returns and steady inflows of new retail accounts.
Pakistan denies dismantling internet monitoring system ahead of 5G spectrum auction
ISLAMABAD: Pakistani officials told lawmakers on Thursday that reports of the internet firewall being shut down ahead of next month’s 5G spectrum auction were incorrect, insisting the country’s Web Monitoring System is still fully running and has caused no disruption to services.
PM Sharif calls for across-the-board direct tax cuts in next budget to boost investment
ISLAMABAD: Prime Minister Shehbaz Sharif called for across-the-board cuts in direct taxes in the upcoming federal budget, saying the country must prioritise growth, production, exports and investment over repeated tax increases to support businesses and restore its standing.
IMF mission kicks off Pakistan bailout review in Karachi with $1.2 billion at stake
KARACHI: An International Monetary Fund staff mission led by Iva Petrova began technical-level discussions with the State Bank of Pakistan in Karachi on Wednesday, opening the third review of the country’s $7 billion Extended Fund Facility and the second review of its $1.1 billion Resilience and Sustainability Facility.
ECC lowers wheat reserve prices to sell 500,000 tons after earlier bids fell short
ISLAMABAD: The Economic Coordination Committee of the cabinet approved the sale of 500,000 metric tons of wheat held by the Pakistan Agricultural Storage and Services Corp. through competitive bidding at revised reserve prices after an earlier attempt failed due to lower bids, the Finance Division said.
KSE-100 tumbles nearly 5,500 points in sharp selloff amid rollover week and US-Iran tensions
KARACHI: The Pakistan Stock Exchange’s benchmark index tumbled more than 5,400 points on Monday, capping a volatile session marked by persistent selling as investors weighed escalating US-Iran tensions and fresh uncertainty around American trade policy.
Ogra seeks input on quick payback for $432 million Azerbaijan oil pipeline deal
ISLAMABAD: Pakistan’s oil and gas regulator is soliciting expert and public feedback on a proposed four-year payback period for a $432 million government-to-government investment in a pipeline project with Azerbaijan, even as two key federal ministries have flagged concerns over the dollar-denominated returns and potential cost implications.
Pakistan’s debt interest payments jump 80 percent, but not due to costly borrowing, ministry says
ISLAMABAD: The Finance Ministry rejected reports that the country pays interest rates as high as 8% on external loans, calling such assertions misleading and stressing that the bulk of its public debt comes from concessional financing.