KARACHI: The current account slipped back into deficit in October with a $112 million shortfall, reversing the previous month’s surplus, as imports jumped 13% from a year earlier and exports continued to weaken.
Economy
Afghanistan turns north in search of trade partners as Pakistan ties fray
ISLAMABAD: The Taliban government is urgently pushing Afghan merchants to redirect trade toward Central Asia’s oil-rich republics, seeking to break decades of reliance on Pakistan after the most serious armed clashes in years and a month-long border shutdown that cost traders hundreds of millions of dollars.
Pakistan delays NFC meeting again as growth forecast cut
ISLAMABAD: Pakistan has again postponed the inaugural meeting of the newly constituted National Finance Commission (NFC), with a session previously planned for Nov. 18 now delayed indefinitely, as the government downgraded its economic growth forecast for the current fiscal year by up to 0.7 percentage points to 3.5%, Dawn newspaper reported on Monday.
Diesel rises to Rs284.44/liter, petrol left unchanged
ISLAMABAD: The government on Saturday left the retail price of gasoline unchanged but increased high-speed diesel by Rs6 per litre to Rs284.44 for the November 16-30 fortnight, a significantly milder adjustment than the jump of up to Rs9.60 projected earlier in the week.
Pakistan’s dollar bonds seen extending rally on IMF discipline and market return hopes
KARACHI: Pakistan’s US dollar-denominated sovereign bonds, already the standout performers among high-yield emerging-market credits this year, are expected to push higher as investors bet on credit-rating upgrades and a successful return to international capital markets in 2026, fund managers said.
Pakistan debt surges to Rs80.5 trillion in FY25 as daily burden hits Rs25 billion
KARACHI: Pakistan’s total public debt swelled by a staggering Rs9.3 trillion in fiscal 2024-25, pushing the stock to Rs80.5 trillion by the end of June 2025 and adding Rs25.4 billion to the burden every single day of the year, according to official figures tabled in the National Assembly on Friday.
Mari Energies wins stakes in all 23 offshore blocks in Indus, Makran basins
ISLAMABAD: The government provisionally awarded all 23 offshore exploration blocks that received bids in its first offshore licensing round since 2007, with state-backed Mari Energies Ltd. securing stakes in every block and operatorship in 18 of them, according to the Petroleum Division and company statements.
Edible oil imports seen surging to 3.5 mln tons as demand climbs
KARACHI: Pakistan’s edible oil imports are on course to reach 3.4-3.5 million metric tonnes this year, a sharp increase from the 2.9-3 million tonnes imported annually between 2022 and 2024, as the country grapples with rising demand driven by population growth and modest economic recovery.
Diesel, kerosene prices to rise up to Rs9.50; petrol set for Rs2 cut
KARACHI: The government will increase ex-depot prices of high-speed diesel, kerosene and light diesel oil by as much as Rs9.50 a liter from November 16, while cutting the petrol price by around Rs2, according to people familiar with the preliminary calculations.
Lotte Chemical sells 75 percent of Pakistan PTA unit for $69 million; P&G seeks Gillette delisting
KARACHI: Lotte Chemical Corp. has sold a roughly 75 percent stake in its Pakistani purified terephthalic acid (PTA) subsidiary to Dubai-based PTA Global Holding Ltd. for $68.94 million, the latest step in Seoul’s government-backed push to restructure loss-making petrochemical assets amid chronic oversupply and weak demand.