Islamabad: The government approved a wheat policy for the 2025-26 season that lifts restrictions on inter-provincial shipments of the staple crop, aiming to ensure nationwide availability amid criticism from some regions over Punjab’s efforts to control outflows.
Economy
Pakistan launches first hyperspectral satellite from China to boost climate, farm monitoring
ISLAMABAD: Pakistan achieved a significant milestone in its space program on Sunday with the successful launch of its first hyperspectral satellite from a launch center in China, a development that officials said would enhance the country’s capabilities in agriculture, environmental monitoring and disaster response amid growing climate challenges.
Pakistan says IMF reforms align with national priorities, $1.2bn tranche due Dec. 31
KARACHI: Finance Minister Muhammad Aurangzeb pushed back against suggestions that the International Monetary Fund is dictating terms at odds with the country’s priorities, saying all reforms to date have bolstered the economy while serving national goals.
Factory output rises 4.44 percent in July-August, auto sector leads recovery
ISLAMABAD: Pakistan’s large-scale manufacturing sector, a cornerstone of the country’s industrial base, posted a 4.44 percent increase in the first two months of the fiscal year, offering a tentative sign of stabilisation even as monthly production dipped in August.
Pakistan eyes early-November close to long-delayed PIA privatization
ISLAMABAD: Four local companies have emerged as bidders in the long-awaited privatization of the debt-ridden national carrier, Pakistan International Airlines, with the process set to conclude early next month, officials told a Senate committee on Friday amid assurances that the airline’s name, flag and domestic ownership would remain intact.
Pakistan says floods to dent growth as farm damage mounts
ISLAMABAD: Finance Minister Muhammad Aurangzeb said recent floods that ravaged farmland across the country will likely curb economic growth this fiscal year, as initial assessments point to heavy damage in key agriculture sectors like rice and cotton.
UAE’s IHC buys 83 percent stake in First Women Bank for Rs4.1b in bilateral deal
ISLAMABAD: United Arab Emirates-based International Holding Co. acquired an 82.64% stake in Pakistan’s First Women Bank Ltd. for Rs4.1 billion in a government-to-government deal, marking the South Asian nation’s first bank privatization under a bilateral framework.
Pakistan sees price stability return, growth edge up in FY25: central bank
KARACHI: The central bank said macroeconomic conditions improved in fiscal 2025 as tight monetary policy and fiscal tightening curbed inflation and bolstered stability, though risks from global trade disruptions, geopolitical strains and domestic flooding threaten the outlook.
FM Aurangzeb seeks China backing for BRICS bank membership
ISLAMABAD: Finance Minister Muhammad Aurangzeb asked China for support in joining the New Development Bank established by the BRICS group, as the South Asian nation pushes for greater access to multilateral financing amid efforts to stabilise its economy.
Pakistan deliberately skipped global aid after floods, FM Aurangzeb says
ISLAMABAD: Pakistan opted not to seek international assistance following devastating floods this year, relying instead on its own fiscal resources amid an improved economic backdrop, Finance Minister Muhammad Aurangzeb said.