ISLAMABAD: Pakistan is ditching its reliance on foreign aid in favor of deeper trade and investment ties, particularly with Gulf Cooperation Council nations, as the South Asian economy stabilises after a bruising period of high inflation and external pressures, Finance Minister Muhammad Aurangzeb said.
Economy
Pakistan grants initial crypto clearances to Binance, HTX under phased regulatory framework
ISLAMABAD: Pakistan’s cryptocurrency regulator clarified that the initial clearances granted to global exchanges Binance and HTX are far from a full endorsement, describing them instead as the opening move in a tightly controlled, step-by-step framework aimed at harnessing the sector while mitigating risks.
Pakistan denies IMF imposes new conditions, calls measures “phased reform agenda”
ISLAMABAD: The finance ministry pushed back against reports of tough new conditions tied to its bailout program with the International Monetary Fund, insisting that a slate of 11 fresh targets represents “continuity, sequencing, and deepening of Pakistan’s agreed reform agenda” rather than the “imposition of abrupt or unprecedented conditions.”
Sharif says Pakistan has exited near-default, unveils reform drive to lure capital
ISLAMABAD: Prime Minister Shehbaz Sharif said the country has emerged from a near-default economic crisis, crediting government efforts for stabilising key indicators and securing a fresh $1.2 billion disbursement from the International Monetary Fund.
Fuel prices set for potential drop, regulator pushback
KARACHI: The petroleum product prices could fall by as much as Rs12 per liter starting Monday, according to estimates from industry officials, though the oil regulator dismissed such reports as purely speculative and not reflective of any formal process.
Pakistan plans public disclosure of officials’ assets by end-2026 to curb corruption
ISLAMABAD: The finance ministry said it will make details of high-ranking officials’ assets accessible online to the public by the end of 2026 as part of a push to strengthen anti-corruption measures.
SBP seen holding rates at 11 percent as IMF warns on inflation risks
KARACHI: The central bank is poised to keep its key interest rate unchanged at 11% on Monday, according to a Reuters poll, with analysts delaying expectations for cuts until late in the fiscal year ending June 2026 amid persistent inflation threats flagged by the International Monetary Fund.
Pakistan inks deal with Binance to explore $2 billion asset tokenization
ISLAMABAD: Pakistan signed a memorandum of understanding with crypto exchange Binance to explore tokenizing up to $2 billion in sovereign bonds, treasury bills and commodity reserves, a move aimed at boosting liquidity and drawing international investors amid a broader push into digital assets.
Pakistan secures $940 million from ADB, World Bank for SOE reform, climate and water projects
KARACHI: Pakistan received a fresh influx of international financing on Friday as the Asian Development Bank approved $540 million to overhaul its struggling state-owned enterprises and bolster coastal defenses against climate disasters, while the World Bank separately greenlighted $400 million to expand water and sanitation services in the country’s most populous province.
Pakistan agrees to tougher tax measures, SOE reforms and mine more IMF conditions to keep bailout on track
KARACHI: Pakistan agreed to 11 new structural benchmarks with the International Monetary Fund, including fresh tax measures and spending cuts, after missing a raft of targets under its $7 billion bailout program, paving the way for a $1.2 billion disbursement.