ISLAMABAD: Pakistan and Saudi Arabia launched on Tuesday an Economic Cooperation Framework aimed at boosting trade and investment ties, following a meeting a day earlier between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman on the sidelines of the Future Investment Initiative (FII9) in Riyadh.
Economy
Pakistan set to receive $1.2 billion IMF tranche by December after meeting all targets
KARACHI: Pakistan is on track to secure a $1.2 billion disbursement from the International Monetary Fund by December, after fulfilling every performance benchmark for the lender’s latest review under its ongoing bailout program.
Pakistan logs rare Rs1.5 trillion fiscal surplus in Q1, defies flood disruptions
The government posted a rare Rs1.51 trillion federal fiscal surplus in the first quarter of fiscal year 2026, flipping last year’s Rs649 billion deficit and signalling robust revenue gains even as floods hammered crops and spiked food prices.
KP governor urges PM Sharif to lift Punjab curbs on wheat supply
ISLAMABAD: The governor of northwestern Khyber Pakhtunkhwa province on Monday appealed to Prime Minister Shehbaz Sharif to intervene and lift what he called “unconstitutional restrictions” on wheat supplies from Punjab, warning of risks to food security amid soaring prices.
PM Sharif reaches Saudi Arabia for investment summit, seeking deeper ties
ISLAMABAD: Prime Minister Shehbaz Sharif reached Riyadh on Monday to lead a high-level delegation at the ninth edition of the Future Investment Initiative, a global summit convened under the auspices of Saudi Arabia’s sovereign wealth fund, amid efforts to bolster economic and security cooperation between the two longtime allies.
SBP keeps policy rate at 11 percent as floods drive up inflation risks
KARACHI: Pakistan’s central bank left its benchmark interest rate unchanged at 11% on Monday as policymakers assessed the impact of recent floods on food prices and the broader economy, extending a pause in monetary easing for a fourth straight meeting.
Pakistan resumes household gas hookups after four-year ban
ISLAMABAD: Prime Minister Shehbaz Sharif kicked off the rollout of regasified liquefied natural gas connections for households nationwide, meeting a longstanding public push for more affordable fuel amid dwindling domestic reserves.
State-run PIA resumes direct flights to UK after five-year ban
ISLAMABAD: Pakistan International Airlines resumed direct flights to the UK after a nearly five-year suspension, marking a milestone in the government’s push to rehabilitate the struggling national carrier and restore the country’s aviation reputation amid broader economic reforms.
ECC cautioned on looming price hike from flood damage, market distortions
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet was warned of a looming inflation spike driven by flood-ravaged crops, supply chain disruptions, and potential cartel activity in the edible oil and ghee markets, threatening further food price hikes across the country.
Pakistan targets record 30m tonnes wheat output for 2025-26 Rabi season
ISLAMABAD: Pakistan has set a wheat production goal of 30 million tonnes for the 2025-26 Rabi season, leveraging sufficient water supplies in Punjab and Sindh, the country’s main agricultural provinces, following recent floods that boosted water availability for crops, the Ministry of National Food Security and Research said on Friday.