Pakistan has reached a staff-level agreement with the IMF, unlocking $1 billion under the Extended Fund Facility (EFF) and providing $1.3 billion under the Resilience and Sustainability Facility (RSF). The agreement, subject to IMF Executive Board approval, supports Pakistan’s efforts in building resilience to natural disasters and promoting climate adaptation, while also praising the country’s progress in restoring macroeconomic stability.
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March inflation forecast to remain muted
The headline inflation is expected to remain steady within a 1-1.5 percent range in March, according to the Finance Division’s Monthly Economic Update and Outlook. However, the ministry warned that inflation could edge up to 2-3 percent in April due to potential volatility in food and energy prices. The country’s inflation has been on a declining trend since peaking at 38 percent in May 2023, and the government’s efforts to tighten spending and boost revenue have led to a primary surplus and a narrowed fiscal deficit.
IHC reinstates Imran Khan’s jail meeting schedule
By Staff Reporter
ISLAMABAD: The Islamabad High Court (IHC) on Monday restored a twice-weekly meeting schedule for jailed former Prime Minister Imran Khan, but barred attendees from speaking to the media afterwards.
Drought alert issued for three provinces as temperatures soar, rainfall plummets
By Staff Reporter
ISLAMABAD: The Pakistan Meteorological Department (PMD) issued a drought alert on Monday for Sindh, Balochistan, and Punjab provinces, where rainfall from Sept. 1, 2024, to March 21, 2025, was 40 percent below normal.
Pakistan calls for sustained dialogue with Afghanistan to tackle militancy, boost trade
By Staff Reporter
ISLAMABAD: Foreign Minister Ishaq Dar on Monday called for a sustained dialogue with Afghanistan’s Taliban-led government to address surging militancy, border disputes, and economic collaboration, following a high-stakes visit by Islamabad’s special envoy to Kabul aimed at mending strained bilateral relations.
IMF rejects Pakistan’s request to cut property transaction taxes
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has refused to entertain the Federal Board of Revenue’s (FBR) request to reduce transaction taxes for the property sector, dashing earlier claims of an agreement in principle, local media reported.
NAB seeks UAE help to extradite property magnate Malik Riaz in land scam case
By Staff Reporter
ISLAMABAD: Pakistan’s anti-graft watchdog has launched extradition proceedings against property tycoon Malik Riaz Hussain and his son Ali Malik from the United Arab Emirates (UAE), invoking international anti-money laundering laws and the Vienna Convention, Dawn newspaper reported on Wednesday.
Two soldiers, five militants killed in Balochistan clash
By Staff Reporter
ISLAMABAD: Two Pakistani soldiers and five militants, including two suicide bombers, were killed in a clash in the restive southwestern province of Balochistan, the military said on Tuesday.
Pakistan to overhaul state-owned power deals
By Staff Reporter
ISLAMABAD: Pakistan will overhaul agreements with state-owned independent power producers, mirroring changes made to pacts with private operators, as it seeks to boost transparency and sustainability in the energy sector, Energy Minister Sardar Awais Leghari said on Tuesday.
Easypaisa wins Pakistan’s first digital retail banking license
By Staff Reporter
KARACHI: Pakistan’s central bank awarded the nation’s first digital retail bank license to Easypaisa Bank Ltd., paving the way for the lender to offer commercial digital banking services.