PESHAWAR: The northwestern province of Khyber Pakhtunkhwa has appealed to the federal government for urgent intervention after a prolonged closure of trade routes along the Afghan border triggered a 53.02 percent drop in provincial revenues, with collections from a key infrastructure cess plunging amid stalled cross-border commerce.
Economy
PM Sharif stresses GSP+ trade benefits in EU talks amid India deal concerns
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday reaffirmed his country’s commitment to bolstering trade ties with the European Union through the GSP+ scheme, as Islamabad grapples with potential fallout from India’s new free trade agreement with the bloc.
Pakistan hands control of PIA to private consortium, new owners pledge fleet expansion
ISLAMABAD: The new owners of Pakistan International Airlines vowed on Thursday to expand the carrier’s fleet and revamp its services as they signed a deal to take control of the loss-making airline, marking the conclusion of a long-delayed privatisation process aimed at easing the government’s fiscal burden.
Petrol prices seen falling as diesel set for sharp hike from Feb. 1
ISLAMABAD: The government is likely to cut the price of petrol from Feb. 1 but raise rates for high-speed diesel and other fuels, industry sources said on Thursday, as authorities prepare to announce the latest fortnightly adjustment amid fluctuating global oil markets.
Pakistan textile exporters warn of hit from India-EU trade deal
ISLAMABAD: Pakistan’s textile exporters face mounting pressure from a newly finalised free trade agreement between India and the European Union, industry leaders and analysts warned on Wednesday, as the government pledged to review cost-of-doing-business challenges to bolster competitiveness.
ECC moves to stabilise flour prices with 800,000-ton wheat release
ISLAMABAD: Pakistan’s top economic policymakers on Wednesday approved the sale of surplus government wheat stocks and a major allocation to the populous Punjab province, aiming to stabilise flour prices amid ongoing pressures from food inflation and fiscal constraints.
Finance Ministry sees January inflation holding at 5 percent to 6 percent as growth gains
ISLAMABAD: Pakistan’s inflation is projected to remain within the range of 5-6% in January 2026, the Finance Division said on Tuesday, as the economy showed signs of sustaining its growth momentum amid easing price pressures and structural reforms.
Top constitutional court upholds super tax on big earners
ISLAMABAD: The Federal Constitution Court on Tuesday upheld the legality of a controversial super tax in a landmark decision that affirms parliament’s broad powers to impose levies and safeguards billions in government revenue earmarked for rehabilitating terrorism-displaced families.
SBP holds policy rate at 10.5 percent as growth quickens, defying cut calls
KARACHI: The central bank on Monday kept its benchmark interest rate unchanged at 10.5%, surprising analysts who expected further easing after inflation cooled and reserves swelled, as policymakers flagged sticky underlying prices and a bigger trade gap despite a brighter growth picture.
Pakistan scraps state-to-state airport deals, moves to open auctions
ISLAMABAD: Pakistan is shifting the outsourcing of its three biggest airports to an open bidding process after drawing strong interest from investors, a move that scraps earlier plans for government-to-government deals and aims to spur competition.