ISLAMABAD: Pakistan’s government is grappling with high corporate taxes that are deterring foreign investment, according to a top official, even as tax authorities insist any rate cuts must be paired with stricter compliance to avoid a massive revenue shortfall.
Economy
FM Aurangzeb signals shift toward sustainable growth to break boom-bust cycle
ISLAMABAD: The government is pivoting from short-term growth targets toward a strategy aimed at sustainable economic expansion, Finance Minister Muhammad Aurangzeb said Wednesday, signalling a departure from repeated boom-and-bust cycles that have destabilised the economy in the past.
Pakistan watchdog seeks new regulator to clean up $17m gold market
ISLAMABAD: The competition watchdog on Wednesday called for sweeping reforms to the nation’s gold market, including the creation of a new regulatory authority, to tackle rampant undocumented trading that accounts for nearly 90% of activity in one of South Asia’s largest consumers of the metal.
Pakistan jobless rate climbs to 6.9 percent as 1.4mln workers join unemployment rolls
ISLAMABAD: Pakistan’s unemployed population has jumped by a staggering 31 percent over the past four years, climbing from 4.5 million in 2020-21 to 5.9 million in 2024-25, as the country grapples with deepening strains in its labour market amid economic uncertainty.
Barrick CEO rejects talk of Pakistan exit, says Reko Diq still core asset
KARACHI: Barrick Gold Corp. remains committed to its $7 billion Reko Diq copper mine in Pakistan, one of the world’s largest undeveloped deposits of the metal, the company’s interim chief executive officer said, pushing back against reports of a possible withdrawal.
Govt scraps 0.25 percent export levy to boost competitiveness of shippers
ISLAMABAD: Prime Minister Shehbaz Sharif scrapped a 0.25% surcharge on exports in a bid to ease burdens on the country’s shippers and sharpen their edge in global markets.
Ogra approves up to 7 percent gas price hike to cover utilities’ Rs886bn revenue gap
ISLAMABAD: The oil and gas regulator has approved increases of as much as 7% in prescribed natural gas prices for the fiscal year ending June 2026, paving the way for higher tariffs that could add to consumer burdens amid efforts to curb a ballooning energy-sector debt.
Pakistan issues tender to supply 100,000 tonnes of rice to Bangladesh
KARACHI: Pakistan’s state-owned Trading Corporation is seeking to buy as much as 100,000 metric tons of rice for export to Bangladesh, the latest sign of warming ties between the two South Asian nations amid Dhaka’s push to secure food supplies and cool domestic prices.
US EXIM targets Pakistan with $1.25 billion Reko Diq loan in $100 billion supply-chain push
ISLAMABAD: The US Export-Import Bank will deploy $100 billion to shore up supply chains for critical minerals, nuclear energy and natural gas as part of a broader effort to reduce Western dependence on unreliable sources, according to the institution’s chair.
IMF flags Pakistan’s weak audit controls, warning trillions in public funds at risk
ISLAMABAD: The International Monetary Fund has raised alarms over Pakistan’s lack of robust internal audits and inadequate oversight from its constitutionally mandated auditor general, warning that these deficiencies expose trillions of rupees in public funds to significant fiduciary risks and potential corruption.