KARACHI: The government has retired Rs1.5 trillion in public debt ahead of schedule in fiscal year 2025, a move that slashed the debt-to-GDP ratio to 69% from 75% in FY23 and saved Rs 830 billion in interest costs.
Economy
SBP says current policies to deliver sustained growth
KARACHI: Governor State Bank of Pakistan (SBP) Jameel Ahmad said the country’s current economic policies are poised to deliver lasting growth, a sharp departure from the boom-bust cycles of the past, while spotlighting women entrepreneurs as a cornerstone of inclusive development.
Competition watchdog launches 24 new probes into cartels, deceptive marketing in FY25
ISLAMABAD: Pakistan’s competition watchdog ramped up its fight against unfair business practices in the fiscal year 2024–25, launching 24 fresh probes into cartelization, abuse of dominance, and deceptive marketing across a broad swath of industries.
Pakistan’s central government debt jumps 12 percent to Rs76 trillion in May
KARACHI: Pakistan’s central government debt surged 12% to Rs76.05 trillion in May from a year earlier, intensifying fiscal strains on South Asia’s second-largest economy.
Microsoft to close direct operations in Pakistan after 25 years, shifting to partner-led model
KARACHI: Microsoft Corp. is shutting down its direct operations in Pakistan after a 25-year presence, opting to serve the market through resellers and regional offices, a move the company described as a strategic shift to a partner-led model amid a global pivot to cloud-based services.
Pakistan, US near trade pact to shield exports from Trump tariffs
ISLAMABAD: Pakistan and the United States have concluded a critical round of trade negotiations, reaching an understanding on an agreement that could prevent the re-imposition of a 29 percent tariff on Pakistani exports, Dawn newspaper reported on Saturday.
Pakistan grapples with LNG glut as Qatar deal backfires
ISLAMABAD: Pakistan is wrestling with a costly oversupply of liquefied natural gas (LNG) from a second long-term deal with Qatar, originally intended to shore up energy security but now forcing the government to weigh revising the agreement.
Pakistan appoints financial advisers for ZTBL privatisation
ISLAMABAD: The government has tapped a consortium led by Next Capital Limited as financial advisers to oversee the sale of Zarai Taraqiati Bank Limited (ZTBL), a state-owned agricultural lender, according to an official statement.
Pakistan’s foreign reserves exceed IMF target after China loan rollover
KARACHI: Pakistan’s foreign exchange reserves surged to $14.51 billion by the end of June, surpassing a target set by the International Monetary Fund, after China rolled over $3.4 billion in loans and the country secured additional financing from other sources, the central bank said.
Trade deficit widens to $26.3 billion in FY25 despite export growth
ISLAMABAD: Pakistan’s trade deficit swelled by 9 percent to $26.3 billion in the fiscal year 2024-25, as imports outpaced a modest rise in exports, data from the Pakistan Bureau of Statistics (PBS) showed on Wednesday.