ISLAMABAD: Five private-sector operators have submitted proposals to launch a ferry service linking Pakistan’s southwestern Gwadar Port with key Gulf countries, the Ministry of Maritime Affairs said Friday, a step that could bolster regional trade and connectivity.
Economy
Pakistan’s IT exports surge to $338 million in June, FY25 sees 18 percent growth
KARACHI: Pakistan’s IT exports jumped 14% year-over-year to $338 million in June 2025, capping off a fiscal year that saw an 18% increase in exports to $3.8 billion, driven by expanded global client bases, regulatory relaxations, and currency stability.
Pakistan swings to $2.1 billion current account surplus in FY25, first in 14 years
KARACHI: Pakistan’s current account swung to a surplus of $2.1 billion in the fiscal year 2024-25, marking the first annual surplus in 14 years and the largest in 22 years, driven by a surge in remittances and structural reforms, the State Bank of Pakistan (SBP) data showed on Friday.
Pakistan, Uzbekistan, Afghanistan sign pact for major regional railway project
ISLAMABAD: Pakistan, Uzbekistan, and Afghanistan signed a framework agreement on Thursday to conduct a joint feasibility study for the Uzbekistan-Afghanistan-Pakistan (UAP) Railway Project, a transformative initiative to link Central Asia to Pakistani seaports via Afghanistan, boosting regional trade and connectivity.
Pakistan gender pay gap hits 30 percent, defies regional norms: ILO
ISLAMABAD: In a nation where women have long confronted steep barriers to economic opportunity, a new International Labour Organisation (ILO) report has cast a harsh light on Pakistan’s widening gender pay gap.
Pakistanis spend Rs4.7 billion digitally on Eid sacrificial animals
KARACHI: Pakistanis spent Rs4.7 billion on sacrificial animals through digital transactions during this year’s Eid-ul-Azha, the State Bank of Pakistan said, signaling a shift toward cashless commerce in a traditionally cash-heavy market.
Pakistan in talks with IMF over sugar import tax exemptions amid domestic surplus concerns
ISLAMABAD: Pakistan is negotiating with the International Monetary Fund (IMF) over exemptions on duties and taxes for sugar imports, despite a structural benchmark with the fund that prohibits such tax breaks, a senior official said on Wednesday.
Pakistan lifts fuel prices again as crude volatility hits
ISLAMABAD: Pakistan increased petrol prices by 2% and high-speed diesel (HSD) by 4.2% on Tuesday, marking the second hike in under a month, as global oil market swings pressure the cash-strapped nation.
Pakistan slashes sugar import tender after IMF flags tax concerns
KARACHI: Pakistan’s state-run grain trader has slashed its sugar import tender by more than 80% after the International Monetary Fund raised concerns over tax exemptions on the commodity, a move exposing tensions between global financial pressures and a deepening domestic supply crisis.
Aurangzeb briefs Moody’s on economic turnaround, signals global market re-entry
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb signaled a return to global debt markets during a briefing with Moody’s, spotlighting a $1 billion financing deal from the Middle East and a steep drop in inflation as proof of the country’s economic rebound.