ISLAMABAD: The government opted to hold fuel prices steady for the next two weeks, even as it hiked a key levy on gasoline and diesel, effectively pocketing gains from falling global oil prices rather than passing relief to consumers.
Economy
Pakistan signs deal with Trump-linked crypto firm to explore stablecoin payments
ISLAMABAD: Pakistan has struck a deal with a company tied to the Trump family’s main cryptocurrency venture to study the use of a dollar-pegged stablecoin for cross-border payments, marking one of the first public tie-ups between the platform and a sovereign government.
High costs push multinationals out, Aurangzeb urges firms to revamp business models
ISLAMABAD: Finance Minister Muhammad Aurangzeb acknowledged that high taxes and energy costs have driven some multinational companies to exit the country, but urged those firms to update their outdated business models to align with the modern economy.
Pakistan forms panel to resolve $32mln pipeline payment dispute with Trump-linked investor
ISLAMABAD: Pakistan’s economic overseers have moved to defuse a brewing dispute with foreign investors in a key oil pipeline, including one with ties to US President Donald Trump, forming a high-level committee to seek an out-of-court settlement and avert a potential hit to foreign capital inflows, Dawn newspaper reported on Wednesday.
Pakistan grants one-time waiver for re-export of Afghan transit cargo stuck at ports
ISLAMABAD: Pakistan has allowed Afghan importers to re-export more than 6,500 containers of transit cargo stranded at its Karachi ports, offering relief from mounting demurrage charges amid a prolonged border closure with Afghanistan that has crippled trade.
Fuel prices seen falling for second straight fortnight on crude dip
KARACHI: Pakistan is set to slash fuel prices by as much as 2.2% starting Thursday, offering a measure of relief to consumers and the transport sector amid volatile global oil markets.
Pakistan weighs ‘export emergency’ to cut IMF reliance, targeting 40 percent growth
ISLAMABAD: Pakistan is gearing up to declare an export emergency as part of a sweeping push to revamp its economy, with officials aiming to ramp up shipments by 40% over the next four years and nearly triple them by 2035 to break free from reliance on IMF bailouts and foreign aid.
Pakistan bets on energy, tariff overhaul to double exports and avoid IMF return
ISLAMABAD: Pakistan is pushing for sweeping reforms to slash energy costs and revamp trade tariffs in a bid to more than double its exports to over $60 billion within three years, aiming to dodge another bailout from the International Monetary Fund once its current program winds down.
ADB warns $360 million Pakistan highway loan may lapse on bidding delays
ISLAMABAD: The Asian Development Bank has warned Pakistan that a $360 million loan for a key highway project risks going unspent and expiring next year amid persistent delays tied to a contentious bidding process.
IMF applauds PIA sale, urges faster exit from loss-making state firms
KARACHI: The International Monetary Fund has welcomed Pakistan’s successful privatisation of its national airline, calling the December sale of Pakistan International Airlines a milestone in the government’s broader push to shed loss-making state-owned enterprises.