ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has rolled out substantial fuel cost reductions for electricity consumers, delivering a financial breather in the July billing cycle for customers of K-Electric (KE) and ex-Wapda distribution companies (Discos).
Economy
Lucky Cement denies binding PIA deal as Pakistan advances privatization
KARACHI: Lucky Cement Ltd., one of Pakistan’s largest conglomerates, said it has made no binding commitment to acquire Pakistan International Airlines Corp. (PIACL), despite being shortlisted with a consortium to conduct due diligence for a 51% to 100% stake in the debt-laden carrier.
Pakistan kicks off Beijing roadshow for debut Panda Bond
KARACHI: Pakistan has launched investor meetings in Beijing this week to lay the groundwork for the nation’s inaugural Panda Bond issuance, targeting a debut later this year, the finance ministry said on Wednesday, marking a bold step to tap China’s onshore capital market and broaden its funding base.
Pakistan, Turkiye to set up special economic zone, target $5 billion trade
ISLAMABAD: Pakistan and Turkiye are planning to establish a Special Economic Zone in Karachi for Turkish entrepreneurs and aim to boost bilateral trade to $5 billion, as part of a broader push to deepen cooperation in energy, defense, and strategic infrastructure amid growing regional instability, officials said.
Dubai Islamic Bank seals $1 billion Islamic finance deal with Pakistan
KARACHI: Dubai Islamic Bank PJSC (DIB), the largest lender in the United Arab Emirates, has finalized a $1 billion syndicated term finance facility with the Government of Pakistan, a deal signaling fresh confidence in the country’s economic rebound and boosting the global reach of Shariah-compliant funding.
Pakistan’s remittance inflows hit record $38.3 billion in FY25
KARACHI: Pakistan’s inflow of overseas workers’ remittances surged to a record $38.3 billion in fiscal year 2024-25, a 27% jump from the previous year, offering a lifeline to the nation’s economy as it navigates persistent challenges, data from the State Bank of Pakistan (SBP) showed on Wednesday.
Pakistan’s central bank to launch digital currency pilot, finalises crypto rules
KARACHI: Pakistan’s central bank is preparing to launch a pilot for a digital currency and is finalising legislation to regulate virtual assets, as the government accelerates efforts to modernise the country’s financial system amid a global wave of interest in blockchain-based payments.
Pakistan approves 500,000T sugar imports to tame skyrocketing prices after export boom
ISLAMABAD: Pakistan has approved the import of 500,000 tonnes of sugar to tackle a domestic shortage and stabilise skyrocketing prices, a move that comes after a massive export boom left local supplies depleted and consumers facing a 36 percent price hike.
Pakistan approves four bidders for stake in debt-laden PIA
ISLAMABAD: Pakistan has cleared four parties, including prominent business groups and a military-backed conglomerate, to bid for a controlling stake in Pakistan International Airlines (PIA), advancing a high-stakes privatization tied to a $7 billion International Monetary Fund bailout.
Pakistan launches virtual assets regulator to boost digital economy
ISLAMABAD: Pakistan has formally established the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee its rapidly expanding digital assets sector, a move aimed at aligning the country’s regulatory framework with international standards and attracting foreign investment.