ISLAMABAD: Pakistan’s consumer prices rose 5.8% from a year earlier in January, official data showed, aligning with the finance ministry’s forecast and highlighting the central bank’s caution that inflationary pressures may linger as the economy gathers pace.
Economy
Pakistan seeks to fast-track projects under $20 billion World Bank partnership
ISLAMABAD: Prime Minister Shehbaz Sharif and World Bank Group President Ajay Banga agreed on Monday to accelerate the implementation of development projects and bolster oversight mechanisms, as the cash-strapped South Asian nation pushes forward with a broad reform agenda backed by international lenders.
FBR tax haul rises 16 percent in January, boosting fiscal outlook despite shortfall
ISLAMABAD: The Federal Board of Revenue (FBR) posted a 16% rise in tax collections for January, reaching Rs1.015 trillion and beating the previous six months’ average growth rate, officials said, signalling a potential turnaround in meeting fiscal targets despite missing the monthly goal.
Diesel prices up Rs11.30 per litre; petrol held steady
ISLAMABAD: The government has raised the price of high-speed diesel by Rs11.30 per litre for the next fortnight while keeping petrol rates unchanged, citing higher international crude oil prices driven by regional tensions and a US naval deployment to the Persian Gulf.
PM Sharif cuts industrial electricity tariff by Rs4.4 per unit, lowers export refinance rate
ISLAMABAD: Prime Minister Shehbaz Sharif announced a Rs4.4 cut in electricity tariffs per unit for the industrial sector on Friday, along with other measures aimed at easing costs for businesses and spurring exports amid efforts to sustain economic recovery.
Pakistan telecom regulator sets March 10 date for 5G spectrum auction
ISLAMABAD: Pakistan’s telecom regulator on Thursday announced plans to auction spectrum for 5G services in March, a step aimed at easing network congestion and boosting Internet speeds in a country where demand has outpaced available bandwidth.
IMF urges Pakistan to speed up reforms under $7bln bailout to bolster growth
ISLAMABAD: The International Monetary Fund urged Pakistan on Thursday to quicken the pace of structural reforms pledged under its $7 billion bailout package, saying the step would help the cash-strapped South Asian nation solidify economic growth, preserve macroeconomic stability and ramp up exports.
Pakistan repays record debt early, draws global investors in landmark roadshow – advisor
ISLAMABAD: Pakistan has repaid more than Rs3,650 billion in debt ahead of schedule for the first time in its history, while a virtual investor roadshow drew unprecedented participation from global asset managers, signalling renewed confidence in the country’s economic reforms, an advisor to the finance minister said.
KP seeks federal help as Afghan border closure slashes revenues by over 50 percent
PESHAWAR: The northwestern province of Khyber Pakhtunkhwa has appealed to the federal government for urgent intervention after a prolonged closure of trade routes along the Afghan border triggered a 53.02 percent drop in provincial revenues, with collections from a key infrastructure cess plunging amid stalled cross-border commerce.
PM Sharif stresses GSP+ trade benefits in EU talks amid India deal concerns
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday reaffirmed his country’s commitment to bolstering trade ties with the European Union through the GSP+ scheme, as Islamabad grapples with potential fallout from India’s new free trade agreement with the bloc.