ISLAMABAD: The Competition Commission of Pakistan is pushing for a dedicated steel ministry and a national policy to tackle longstanding distortions in the country’s steel industry, including weak regulation, unfair tax exemptions and heavy reliance on imports.
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Pakistan nears cashless economy with 88 percent of retail payments now digital
KARACHI: Digital payments made up 88% of retail transactions in Pakistan during the fiscal year that ended in June, the central bank said on Monday, as the government accelerates efforts to digitize its $400 billion economy.
October inflation quickens to 6.2 percent, highest in a year, as floods, border closures bite
ISLAMABAD: Pakistan’s consumer price inflation accelerated to 6.2% in October from a year earlier, the highest reading in 12 months, as flood-related supply disruptions and temporary border closures with Afghanistan pushed up prices of essential commodities.
FM Aurangzeb says economy stabilised as reforms take hold
ISLAMABAD: Pakistan’s economy has entered a stabilisation phase, with the government advancing structural reforms in taxation, energy, privatisation and digitalisation to drive sustainable and inclusive growth, Finance Minister Muhammad Aurangzeb said on Monday.
Pakistan military says only total elimination of terrorism from Afghanistan acceptable
ISLAMABAD: Pakistan’s military on Monday dismissed conditions set by Afghanistan in recent border talks as irrelevant, emphasising that only the complete elimination of terrorism from Afghan soil would satisfy Islamabad, amid escalating tensions marked by cross-border skirmishes and accusations of harboring militants.
Pakistan opens major maritime expo to tap ‘blue economy’ potential
KARACHI: Planning minister on Monday inaugurated a major international maritime exposition in the southern port city of Karachi, calling the country a “natural maritime bridge” between East and West and urging greater investment in an underdeveloped sector that he said could unlock billions in economic potential.
Pakistan needs deeper trade deals, flexible currency to revive exports, World Bank says
ISLAMABAD: Pakistan must revamp its lopsided trade pacts with 10 bilateral partners, adopt a market-driven exchange rate and slash energy and other input costs to reverse more than three decades of slumping exports and underpin lasting economic growth, according to the World Bank.
Pakistan Navy set to deploy first Chinese-built submarine next year
ISLAMABAD: The Pakistan Navy anticipates that its first Chinese-designed submarine will enter active service next year, a development that underscores the deepening military collaboration between Islamabad and Beijing amid regional tensions.
Sharif seeks PPP backing for 27th Amendment to reshape judiciary, key institutions
ISLAMABAD: A delegation led by Prime Minister Shehbaz Sharif approached the leaders of the Pakistan Peoples Party this week to rally support for a proposed 27th Constitutional Amendment, a move that could reshape the judiciary and other key institutions amid lingering controversy over recent changes to the legal system.
Trump says Pakistan among nations testing nuclear arms, claim not independently verified
ISLAMABAD: US President Donald Trump said Pakistan has been testing nuclear weapons, listing it with Russia, China and North Korea as countries he said are advancing their arsenals while the United States holds to a decades-old moratorium.