ISLAMABAD: The government invited expressions of interest from local and international investors on Tuesday for stakes of as much as 100% in three of the country’s largest state-owned electricity distribution companies, the latest effort to overhaul a loss-plagued power sector and ease pressure on public finances.
Economy
Pakistan faces highest macro-financial risk in Asia-Pacific from prolonged Middle East conflict, S&P says
KARACHI: Pakistan is the most vulnerable major Asia-Pacific economy to macro-financial stress from a drawn-out Middle East conflict, S&P Global Market Intelligence said Monday, cautioning that elevated energy costs and external financing strains could unravel the country’s tentative recovery.
Pakistan secures $320 million AIIB loan to rebuild strategic N-5 highway
ISLAMABAD: Pakistan and the Asian Infrastructure Investment Bank signed a $320.16 million loan agreement on Tuesday for the reconstruction of critical stretches of the N-5 national highway, the country’s longest and most heavily trafficked route linking Karachi to Torkham on the Afghan border.
Pakistan weighs tokenizing sovereign bonds and diaspora certificates on blockchain
ISLAMABAD: The government is examining the tokenization of sovereign bonds and Naya Pakistan Certificates on blockchain infrastructure, the finance ministry said on Monday, marking one of the first senior-level official discussions on integrating the technology into the country’s debt markets.
Pakistan tech shipments reach $423 million in April, second-highest on record, with 21 percent growth so far this year
KARACHI: Pakistan’s information-technology exports stayed above $400 million for a second consecutive month in April, the latest official data show, underscoring the sector’s ability to maintain momentum even as the country grapples with domestic infrastructure bottlenecks and geopolitical tensions in the Middle East.
Pakistan swings to $324 million current-account deficit in April as imports surge
KARACHI: Pakistan recorded a current-account deficit of $324 million in April, the State Bank of Pakistan said on Monday, reversing a $1.134 billion surplus the previous month and marking the first shortfall in the fiscal year after several months of surpluses.
Power tariffs to hold steady in June after policy measures avert Rs38 billion consumer burden
ISLAMABAD: The Power Division said Monday that electricity tariffs will remain unchanged in June, crediting a series of policy measures for shielding consumers from higher costs even as fuel supply disruptions and elevated generation expenses continue to weigh on the sector.
Hague court tightens limits on India’s occupied Kashmir dams in escalating Indus Waters Treaty dispute
ISLAMABAD: An international arbitration panel has delivered a fresh technical blow to India’s hydroelectric ambitions in occupied Kashmir, issuing a supplemental award that Pakistani officials say sharply restricts New Delhi’s ability to store and control water on the rivers the 1960 Indus Waters Treaty reserves largely for Pakistan.
Sindh and Punjab provinces lift early closing rules on markets and restaurants ahead of Eid al-Adha
KARACHI: Pakistan’s two largest provinces moved on Saturday to roll back strict business curfews imposed last month to conserve fuel, signaling a partial retreat from nationwide austerity measures triggered by a global oil shock tied to the US-Israel war with Iran.
FM Aurangzeb says Pakistan’s Panda bond debut signals deeper RMB integration and future Beijing debt issuances
ISLAMABAD: Finance Minister Muhammad Aurangzeb said the country’s debut sale of a yuan-denominated bond in China’s onshore market represents a transformational step that will pave the way for additional sovereign issuances and closer financial integration with Beijing.