KARACHI: Pakistan has emerged as a rare winner in President Donald Trump’s sweeping overhaul of US trade policy, securing a tariff reduction from 29% to 19% on Friday, the lowest rate for any South Asian country after Afghanistan.
Economy
Govt cuts petrol price by Rs7.54, raises diesel by Rs1.48
ISLAMABAD: The government slashed petrol prices by Rs7.54 per litre late Thursday while raising the cost of high-speed diesel (HSD) by Rs1.48 per litre for the next two weeks, reflecting shifts in global oil markets.
Pakistan battles sugar crisis amid surplus claims and market manipulation
ISLAMABAD: Pakistan’s state trading agency is evaluating offers to supply 100,000 metric tons of sugar, with the lowest bid at $539 per ton, even as the government insists on surplus stocks and cracks down on market manipulation amid a recurring sugar crisis.
Pakistan’s Utility Stores Corp. closes doors after 54 years as losses mount
ISLAMABAD” Pakistan’s Utility Stores Corporation (USC), a state-owned enterprise tasked with providing affordable essentials to low-income households, officially shut down operations on Thursday, ending a 54-year run plagued by financial losses and chronic inefficiencies.
Cabinet approves Haj 2026 policy, AI framework and green building code; PM caps sugar price
ISLAMABAD: The federal cabinet on Wednesday rolled out a trio of transformative policies, approving the Haj Policy for 2026, the National Artificial Intelligence (AI) Policy, and the Green Building Code of Pakistan.
UPDATE-Trump seals US-Pakistan trade deal, hits India with 25 percent import tariff
KARACHI: President Donald Trump said on Wednesday his administration has struck a trade deal with Pakistan to develop the South Asian nation’s oil reserves, while simultaneously imposing a 25% tariff on Indian imports, escalating tensions with New Delhi over trade imbalances and its energy ties with Russia.
Trump seals US–Pakistan trade deal, hits India with 25 percent import tariff
KARACHI: President Donald Trump said on Wednesday his administration has struck a trade deal with Pakistan to develop the South Asian nation’s oil reserves, while simultaneously imposing a 25% tariff on Indian imports, escalating tensions with New Delhi over trade imbalances and its energy ties with Russia.
SBP holds key rate at 11 percent, prioritising rupee stability over easing
KARACHI: Pakistan’s central bank kept its benchmark interest rate steady at 11% on Wednesday, opting to safeguard the rupee’s stability despite inflation trending below its target range and widespread expectations of a cut.
Sugar mills reap Rs300 billion amid price surge, raising outrage over transparency, political ties
ISLAMABAD: Pakistan’s sugar mills have amassed Rs300 billion in profits as sugar prices surge, according to the Auditor General of Pakistan, who testified before the Public Accounts Committee (PAC) on Tuesday.
IMF sees Pakistan GDP growth at 3.6 percent for FY26, below government target
KARACHI: The International Monetary Fund projected Pakistan’s economic growth at 3.6% for the fiscal year 2025-26, falling short of the government’s 4.2% target, while nudging up its estimate for the prior year to 2.7%.