ISLAMABAD: Minister for maritime affairs announced reductions in tariffs at Gwadar Port on Monday, trimming fees for container vessels and offering a month of free storage in a bid to capture more global transit and transshipment business amid disruptions in the Strait of Hormuz.
Economy
Pakistan weighs tax relief for salaried class as it holds off on pay and pension increases – report
ISLAMABAD: The government is preparing to reduce the income-tax burden on salaried individuals in the upcoming federal budget while leaving salaries and pensions unchanged, a step aimed at extending comparable fiscal relief to workers in both the public and private sectors, Dawn newspaper reported on Monday.
Pakistan to debut in Chinese debt market with $250 million panda bond next week
ISLAMABAD: Pakistan is poised to tap Chinese capital markets for the first time with a yuan-denominated bond issue next week, Finance Minister Muhammad Aurangzeb said, as the government moves to strengthen foreign-exchange reserves and broaden its sources of external financing.
Pakistan says fuel-price increase required by IMF deal despite stable global markets
ISLAMABAD: The petroleum minister on Saturday defended the government’s decision to raise petrol and diesel prices by nearly Rs15 a liter, saying the increase was required to honor commitments made to the International Monetary Fund even though global oil markets had shown no major swings.
Pakistan returns to LNG spot market with Qatar supplies still stalled
ISLAMABAD: Pakistan LNG Ltd. invited international suppliers Saturday to bid for two spot cargoes of liquefied natural gas, the second tender in a week, as deliveries from its primary supplier Qatar stayed blocked by continued restrictions in the Strait of Hormuz.
IMF board approves $1.2 billion tranche for Pakistan after clearing key reform review
ISLAMABAD: The International Monetary Fund’s Executive Board approved the latest review of Pakistan’s economic program on Friday, clearing the way for the disbursement of about $1.2 billion in fresh financing.
Petrol, diesel prices raised for third straight week as oil rally deepens
ISLAMABAD: The government increased the price of petrol by Rs14.92 a liter and high-speed diesel by Rs15 a liter, the latest in a string of weekly adjustments driven by volatile global oil markets tied to the US-Iran conflict.
Pakistan spurns $16.98-$17.28 LNG offers in fresh test of Urgent Import Push
ISLAMABAD: Pakistan on Thursday rejected the two lowest offers for emergency liquefied natural gas cargoes, spurning bids priced at $17.28 per million British thermal units from BP Singapore and $16.98 from TotalEnergies SE for deliveries later this month.
Pakistan plans expanded foreclosure powers for banks after 90-day default notice
ISLAMABAD: The government has decided in principle to grant commercial banks expanded powers to seize and sell mortgaged homes after a cumulative 90-day notice period in the event of default, part of a broader effort to revive lending to the country’s chronically underdeveloped housing sector.
Pakistan seeks green bonds, panda debt to bolster climate finance as funding gaps loom large
ISLAMABAD: Finance minister said the country is accelerating efforts to tap diversified funding sources, including green bonds and sukuk, as it seeks to build resilience against climate change and speed its shift to cleaner energy.