KARACHI: Remittances from overseas Pakistani workers rose 7.4 percent year-on-year to $3.2 billion in July, the State Bank of Pakistan (SBP) said on Friday.
Economy
Pakistan incurs Rs4.1bn shortfall after barring Indian aircraft from airspace: ministry
ISLAMABAD: Pakistan has incurred a revenue shortfall of Rs4.1 billion in little more than two months after shutting its airspace to Indian-registered aircraft, the defence ministry informed parliament Friday, insisting national security trumps economic costs.
ECNEC approves Rs1.5 trillion in projects
ISLAMABAD: The National Economic Council (ECNEC) on Thursday approved 27 projects worth Rs1.5 trillion in a swift two-hour meeting, prompting fears of fiscal overreach and potential breaches of IMF commitments.
Pakistan launches five-year plan to privatise 24 state-owned enterprises
ISLAMABAD: The government has launched an ambitious five-year plan to privatise 24 state-owned enterprises (SOEs), aiming to boost efficiency and ease the financial strain of loss-making public companies, a minister said on Thursday.
Pakistan secures lowest US tariff in South Asia – minister
ISLAMABAD: Pakistan has secured a trade deal with the United States, locking in a 19% tariff rate—the lowest in South Asia, a government minister said Thursday, a move expected to significantly boost the country’s exports, particularly in textiles.
Nepra cuts power tariffs by Rs1.8881/kWh for next three months
ISLAMABAD: Pakistan’s electricity regulator, the National Electric Power Regulatory Authority (Nepra) on Thursday cut power tariffs by Rs1.8881 per kilowatt hour (kWh) for the next three months, offering relief to consumers of all power distribution companies (Discos), including K-Electric (KE), as they face steep energy bills.
Exports surge in July, reversing recent declines
ISLAMABAD: Pakistan’s merchandise exports posted a robust recovery in the first month of the current fiscal year, rising 16.91% in July 2025, a sharp turnaround from the negative growth recorded in prior months, according to data released by the Pakistan Bureau of Statistics (PBS) on Wednesday.
Pakistan launches Rs100bn subsidy scheme to boost electric vehicle adoption
ISLAMABAD: The government has approved a sweeping five-year subsidy scheme for electric bikes and rickshaws, a Rs100 billion initiative aimed at accelerating the adoption of electric vehicles, curbing oil imports, and advancing environmental sustainability.
Pakistan’s fiscal deficit falls to 9-year low, beating IMF, govt targets
KARACHI: Pakistan’s fiscal deficit narrowed to a nine-year low of 5.38% of gross domestic product in the fiscal year 2025, beating both government and International Monetary Fund projections, as a sharp rise in revenues outstripped expenditure growth.
Pakistan approves first international ferry service to link Iran, Gulf States
ISLAMABAD: Pakistan’s Ministry of Maritime Affairs approved its first international ferry service license on Monday, tapping Sea Keepers to connect the country’s ports with Iran and Gulf Cooperation Council (GCC) nations, including Saudi Arabia and the United Arab Emirates.