KARACHI: Moody’s Ratings upgraded Pakistan’s local- and foreign-currency issuer and senior unsecured debt ratings to Caa1 from Caa2, pointing to the country’s strengthening external buffers and headway on reforms tied to its $7 billion International Monetary Fund (IMF) program.
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FM Aurangzeb sees room for rate cuts
ISLAMABAD: Finance Minister Muhammad Aurangzeb signalled on Wednesday that the central bank could lower interest rates further before the end of 2025, a move aimed at sustaining the country’s nascent economic recovery.
Pakistan sounds alarm as poliovirus found in 42 sewage samples
ISLAMABAD: Pakistan’s health authorities warned of a persistent polio threat on Tuesday after detecting the virus in 42 out of 127 sewage samples from 87 districts, signalling ongoing transmission in the South Asian nation, one of only two countries where the crippling disease remains endemic.
Pakistan teams up with Japanese firm for digital currency pilot
By Staff Reporter KARACHI: Pakistan has enlisted Japanese blockchain developer Soramitsu to launch a pilot for a central bank digital currency (CBDC), a move to
Pakistan auto sales surge 28 percent in July, led by electric vehicles
KARACHI: Pakistan’s automotive sector kicked off the new fiscal year (FY26) with a robust 28 percent year-on-year (YoY) increase in sales of cars, light commercial vehicles (LCVs), pickups, and jeeps, reaching 11,034 units in July, according to data released by the Pakistan Automotive Manufacturers Association (PAMA).
PHC blocks opposition leader changes in PTI disqualification battle
PESHAWAR: A Pakistani court on Tuesday suspended the appointment of new opposition leaders in the National Assembly and Senate, responding to petitions from Pakistan Tehreek-e-Insaf (PTI) leaders Omar Ayub and Shibli Faraz challenging their disqualification over convictions linked to the May 9, 2023 riots.
UN presses Pakistan to reinforce defences against rising monsoon flood threat
ISLAMABAD: Pakistan must urgently bolster its disaster preparedness to counter escalating risks from heavy monsoon rains, glacial lake outburst floods (Glofs), and landslides, the United Nations warned Tuesday, as the country reels from a deadly mudslide and braces for more extreme weather.
PTI rejoins National Assembly, passes bills after protest over leaders’ convictions
ISLAMABAD: Pakistan’s opposition Pakistan Tehreek-i-Insaf (PTI) lawmakers returned to the National Assembly on Tuesday, a day after boycotting proceedings over the conviction of party leaders in the May 9 riots, enabling the passage of five bills and the introduction of 16 others, including a historic proposal to carve out a new province in Punjab.
US, Pakistan strengthen counterterrorism alliance with BLA terror listing, high-level talks
ISLAMABAD: The United States on Tuesday reaffirmed its dedication to combating terrorism in all its manifestations alongside Pakistan, a commitment highlighted by the recent addition of the Balochistan Liberation Army (BLA) to Washington’s Foreign Terrorist Organisation list, as the two nations navigate a period of markedly strengthened bilateral relations.
Pakistan hails court ruling on Indus waters as India faces binding treaty obligations
ISLAMABAD: A Hague court ruling ordering India to strictly comply with a decades-old water-sharing treaty with Pakistan has handed Islamabad a diplomatic victory, a senior Pakistani official said Tuesday, as leaders in Islamabad issued fiery warnings against any Indian attempts to curb vital river flows amid escalating tensions.