ISLAMABAD: Pakistan is throwing open its doors to the global cryptocurrency industry, inviting major exchanges and virtual asset service providers (VASPs) to apply for licenses in a bid to formalise its burgeoning digital economy.
Economy
Pakistan to launch $250 million Panda bond issue by year-end to fund infrastructure
ISLAMABAD: Pakistan plans to issue its first-ever Panda bonds before December 2025, aiming to raise $250 million in yuan-denominated debt to finance critical infrastructure projects, according to media reports.
Nepra slaps Rs248 million fine on power firms for overbilling, illegal outages
ISLAMABAD: Pakistan’s energy watchdog has hit two state-owned power distributors with fines totaling Rs248 million for overcharging customers via faulty meters and cutting power on questionable commercial grounds, exposing persistent flaws in the nation’s strained electricity sector.
PM Sharif seeks IMF relief on power bills as Pakistan reels from catastrophic floods
ISLAMABAD: Prime Minister Shehbaz Sharif has ordered the Finance Ministry to urgently negotiate a one-month electricity bill waiver with the International Monetary Fund for households battered by devastating floods that have killed hundreds, displaced millions, and ravaged crops across Punjab and Sindh.
FM Aurangzeb pledges price stability as floods swamp farmland, stoke food inflation fears
ISLAMABAD: Pakistan is scrambling to contain inflation and protect low-income households as devastating floods wreak havoc on its agricultural heartland, threatening to derail a fragile economic recovery.
Car sales surge 62 percent in August on financing, stronger sentiment
KARACHI: Pakistan’s auto market accelerated in August, with car sales soaring 62% year-on-year, fueled by improved consumer confidence and easier access to bank financing, industry data showed on Thursday.
Pakistan declares national climate, farm emergencies as monsoon floods kill 928
ISLAMABAD: Pakistan declared a national climate emergency and an agricultural emergency on Wednesday as relentless monsoon floods ravaged farmland, displaced millions and threatened to exacerbate food shortages in a country already grappling with economic pressures.
Pakistan lifts four-year ban on new household gas hookups, to supply imported RLNG
ISLAMABAD: The government has lifted a four-year ban on new domestic gas connections, opting to provide Re-Gasified Liquefied Natural Gas (RLNG) to households, Federal Minister for Petroleum Ali Pervaiz Malik announced on Wednesday, citing the need to address public difficulties and safety concerns.
Yamaha Motor Pakistan to halt motorcycle production, maintains parts and warranty services
KARACHI: Yamaha Motor Pakistan Ltd (YMPL), a subsidiary of Japan’s Yamaha Motor Co., will cease motorcycle manufacturing in Pakistan but continue supplying spare parts and honoring warranty services, the company announced on Tuesday, marking a significant shift in its regional strategy.
Dubai’s DP World partners with Pakistan to build $400 million freight corridor
KARACHI: DP World Ltd., the Dubai-based global port operator, has signed a commercial agreement with Pakistan’s National Logistics Corporation and Pakistan Railways to develop the first phase of a $400 million dedicated freight corridor linking Karachi Port to the Pipri marshalling yard, a key rail hub on the city’s outskirts, a statement said on Wednesday.