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.
Technology
Japanese Komatsu commits $100 million to Pakistan hub
KARACHI: Komatsu Ltd, the Japanese heavy machinery titan, will invest $100 million in a mining equipment maintenance hub in Pakistan and has clinched a $440 million deal with Barrick Gold Corp. to supply the Reko Diq mine, underscoring optimism about the country’s mining prospects, Nikkei Asia reported.
Digital payments hit two billion, dominate 89pc of retail transactions
KARACHI: Digital payments in Pakistan reached 2 billion transactions in the third quarter of fiscal year 2025, capturing 89% of total retail payments, as the country’s shift to a cashless economy gained momentum, the State Bank of Pakistan (SBP) reported on Wednesday.
Pakistan sets year-end goal to sell PIA as five final bidders emerge
ISLAMABAD: Pakistan is pressing ahead with plans to sell its national airline, Pakistan International Airlines (PIA), targeting final bids by October and a completed deal by year-end, the country’s privatization chief said, marking Islamabad’s most determined push yet to offload the loss-making carrier after decades of failed attempts and billions in taxpayer bailouts.
Pakistan extends airspace ban on Indian flights
ISLAMABAD: Pakistan has extended its airspace restriction on Indian aircraft for another month, a move that underscores the persistent friction between the two nuclear-armed neighbors.
Pakistan rolls out Rs100 billion EV subsidy to boost green transport
ISLAMABAD: The government on Thursday rolled out its Electric Vehicle (EV) Policy 2025-30, pledging more than Rs100 billion in subsidies over the next five years to push electric bikes and rickshaws into the mainstream.
Careem retreats from Pakistan ride-hailing after near-decade, joins Uber exit
KARACHI: Careem, the Dubai-based ride-hailing company, will suspend its operations in Pakistan starting July 18, ending nearly a decade of service in the country, its chief executive said on Wednesday.
Pakistan’s IT exports dip after 19 months of growth, but yearly figures remain strong
KARACHI: Pakistan’s IT exports slipped 1% year-on-year to $329 million in May 2025, snapping a 19-month streak of consecutive growth, industry data showed on Tuesday.
IMF pleaser, growth freezer budget
ISLAMABAD: Pakistan’s Rs 17.6 trillion budget for 2025-2026, rolled out by Finance Minister Mohammad Aurangzeb, is a high-wire act, slashing the deficit to 3.9% of GDP from 5.9% to win IMF applause, while tiptoeing around the political third rail of taxing the untaxed and sparking growth in an economy stuck in neutral. Revenue projections hit Rs 19.3 trillion, Rs 14.1 trillion from taxes, Rs 5.1 trillion from non-tax sources, a blueprint drenched in discipline. Yet, with unemployment at 6.3% (and a jaw-dropping 44.9% for youth), a 241.5 million population swollen by a youth bulge, and an informal economy mocking the tax net, this budget risks being a masterclass in caution rather than the bold stroke Pakistan desperately needs. Stability is the buzzword here, but it might just be a polite term for paralysis.
Budget to put IMF before growth
By Staff Reporter ISLAMABAD: Finance Minister Muhammad Aurangzeb will step into the spotlight today, unveiling the federal budget for 2025-26 in parliament, a fiscal blueprint