ISLAMABAD: Pakistan has secured Letters of Credit through Azerbaijan’s state-owned SOCAR for the import of 85,000 metric tons of sugar, a move designed to avert shortages and rein in retail prices that have soared past 200 rupees per kilogram.
Economy
Diesel drops Rs12.84, petrol unchanged
KARACHI: The government slashed the price of high-speed diesel by Rs12.84 per liter, or 4.5%, while holding petrol steady for the fortnight through August 31, responding to shifts in international oil prices.
Pakistan to roll out real-time digital tracking of petroleum to curb Rs500bn smuggling
ISLAMABAD: Pakistan will roll out real-time digital tracking of every litre of petroleum products within a month, a landmark reform to stem smuggling, theft, misappropriation, and adulteration that cost the economy up to Rs500 billion annually, Dawn newspaper reported on Friday.
TCP issues new tender for 200,000 tons of white sugar, due August 21
KARACHI: Pakistan’s state-owned Trading Corporation of Pakistan (TCP) launched a fresh international tender on Thursday to procure 200,000 metric tons of white refined sugar, traders said, as the government seeks to address tight domestic supplies
SBP forecasts stronger growth, stable inflation, modest deficit in FY26
KARACHI: Pakistan’s central bank anticipates economic growth accelerating to as much as 4.25% in fiscal year 2026, with inflation holding steady within target as the benefits of prior interest-rate reductions continue to ripple through the economy.
Pakistan secures 55,000 tons of sugar imports to curb soaring prices
KARACHI: The state-owned Trading Corporation of Pakistan (TCP) has purchased approximately 55,000 metric tons of white sugar through an international tender that closed this week, according to European traders cited by Reuters.
Moody’s lifts Pakistan’s credit ratings to Caa1 on reserves rebound, IMF progress
KARACHI: Moody’s Ratings upgraded Pakistan’s local- and foreign-currency issuer and senior unsecured debt ratings to Caa1 from Caa2, pointing to the country’s strengthening external buffers and headway on reforms tied to its $7 billion International Monetary Fund (IMF) program.
FM Aurangzeb sees room for rate cuts
ISLAMABAD: Finance Minister Muhammad Aurangzeb signalled on Wednesday that the central bank could lower interest rates further before the end of 2025, a move aimed at sustaining the country’s nascent economic recovery.
Pakistan teams up with Japanese firm for digital currency pilot
By Staff Reporter KARACHI: Pakistan has enlisted Japanese blockchain developer Soramitsu to launch a pilot for a central bank digital currency (CBDC), a move to
Pakistan auto sales surge 28 percent in July, led by electric vehicles
KARACHI: Pakistan’s automotive sector kicked off the new fiscal year (FY26) with a robust 28 percent year-on-year (YoY) increase in sales of cars, light commercial vehicles (LCVs), pickups, and jeeps, reaching 11,034 units in July, according to data released by the Pakistan Automotive Manufacturers Association (PAMA).