ISLAMABAD: Pakistan’s state-owned enterprises racked up a net loss of Rs122.9 billion in the fiscal year through June 2025, more than tripling the previous year’s deficit, as plunging oil prices hammered revenues and power distributors bled cash, according to the Ministry of Finance.
Economy
Pakistan nears $1.5 billion arms deal with Sudan, report
ISLAMABAD: Pakistan is in the final stages of sealing a $1.5 billion agreement to supply weapons and aircraft to Sudan, a former senior air force official and three people familiar with the negotiations told Reuters, a move that could significantly strengthen Sudan’s military in its grinding war against a powerful paramilitary group.
Remittances rise 16 percent to $3.6 billion in December
KARACHI: Pakistan’s workers’ remittances surged to a monthly high of $3.6 billion in December, providing a vital boost to the country’s foreign-exchange reserves amid efforts to stabilize the economy under an International Monetary Fund bailout.
Pakistan sets dollar-based spectrum prices ahead of long-delayed 5G sale
ISLAMABAD: The government has cleared the way for a long-awaited auction of spectrum for next-generation mobile services, addressing key telecom industry demands by pegging fees to the dollar and shifting interest rates to local benchmarks, according to a policy directive issued by the Ministry of Information Technology and Telecommunication.
Pakistan inaugurates first passenger ferry terminal in bid to boost coastal tourism
KARACHI: Pakistan has opened its first passenger ferry terminal at Karachi Port and granted the country’s inaugural ferry service license, marking a push to develop maritime tourism and draw private investment into a sector long dominated by cargo operations.
Direct flights between Bangladesh and Pakistan return after decade-long hiatus
KARACHI: Bangladesh’s national airline will resume direct flights to Pakistan this month after more than a decade, marking a key milestone in the warming of ties between the two South Asian nations following the ouster of former Prime Minister Sheikh Hasina.
Pakistan to fully deregulate sugar industry by June under IMF push
ISLAMABAD: Pakistan is set to fully deregulate its sugar industry by the end of June, handing control of prices, production and trade over to market forces in a bid to meet International Monetary Fund requirements and ease fiscal strains.
Nepra cuts power tariff by 62 paise per kWh for first half of 2026
ISLAMABAD: The power regulator lowered the national average electricity tariff by 62 paise per kilowatt-hour for the next six months, providing some relief to consumers amid persistent energy cost pressures.
Cabinet blocks fuel margin increase until supply chain goes fully digital
ISLAMABAD: The federal cabinet has rejected a plan to boost profit margins for oil marketers and dealers, tying any increase to the full digitisation of the country’s fuel supply chain in a push to curb smuggling and revenue losses.
Pakistan in talks to swap Saudi loans for JF-17 jets, report
ISLAMABAD: Pakistan and Saudi Arabia are negotiating to convert roughly $2 billion in Saudi loans into a deal for JF-17 fighter jets, according to two Pakistani sources with knowledge of the matter, a move that would further cement military ties between the allies just months after they sealed a mutual defence pact, Reuter reported on Wednesday.