Pakistan’s benchmark stock index plummeted over three percent on Wednesday as investors scrambled to price in geopolitical risks after the government warned of potential Indian military strikes, escalating tensions between the nuclear-armed rivals.
Economy
CCP fines eight poultry firms Rs155 million for WhatsApp-led price-fixing cartel
ISLAMABAD: An antitrust regulator fined eight poultry hatcheries a combined Rs155 million for illegally colluding to fix prices of day-old chicks, a scheme it said worsened food inflation and exploited consumers amid economic strain.
WB commits $108 million to boost KP infrastructure, tourism
ISLAMABAD: The World Bank on Tuesday approved $108 million in additional funding for two projects in Khyber Pakhtunkhwa province, aiming to enhance rural connectivity and supercharge tourism.
IMF board to weigh Pakistan’s $1 billion tranche, $1.3 billion climate loan on May 9
KARACHI: The International Monetary Fund’s Executive Board will meet on May 9 to review Pakistan’s $7 billion bailout and consider a $1.3 billion climate resilience loan, the lender’s website showed on Tuesday.
CCI endorses govt move to shelve Indus canal project
ISLAMABAD: The Council of Common Interests (CCI) on Monday endorsed the government’s earlier decision to shelve a $2 billion Indus River canal project, following protests in Sindh province and pressure from a key coalition ally.
SBP says economy gains ground with policy overhaul
KARACHI: Pakistan’s economy showed marked improvement in the first half of fiscal year 2025, with inflation dropping to its lowest level in decades and the current account balance swinging into a surplus, the central bank said on Monday.
Govt calls urgent CCI meeting to settle Indus canals dispute
KARACHI: The government will hold an urgent meeting of the Council of Common Interests (CCI) on Monday evening to address a contentious plan to build six new canals on the Indus River, a project that has sparked widespread protests in Sindh, a provincial minister said.
Govt pledges protections for foreign projects amid security challenges
LAHORE: Interior Minister Mohsin Naqvi assured a delegation of foreign investors on Sunday that the government would provide them with protection, the interior ministry said, amid a surge in militant attacks in the western provinces of Khyber Pakhtunkhwa and Balochistan.
Pakistan requests 10 billion yuan China swap line boost, targets panda bond
ISLAMABAD: Pakistan has asked China to expand its currency swap line by 10 billion yuan, Finance Minister Muhammad Aurangzeb said, as the cash-strapped nation seeks to bolster reserves and plans a debut panda bond by year-end to diversify funding.
Trump-backed WLF, Pakistan Crypto Council strike blockchain deal
ISLAMABAD: World Liberty Financial (WLF), a decentralised finance (DeFi) platform backed by US President Donald Trump, has signed a landmark Letter of Intent (LoI) with the Pakistan Crypto Council (PCC) to accelerate blockchain innovation, stablecoin adoption, and DeFi integration across Pakistan.