KARACHI: Pakistan’s financial system maintained its stability and operational strength in 2024 despite global headwinds, as improved macroeconomic conditions and regulatory safeguards helped curb credit risks and bolster capital buffers, the State Bank of Pakistan (SBP) said in its annual Financial Stability Review (FSR) released on Thursday.
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Govt pauses controversial Indus canal project after Sindh protests, seeks provincial consensus
ISLAMABAD Prime Minister Shehbaz Sharif announced on Thursday that the government will halt construction of new canals on the Indus River until a consensus is reached among the country’s provinces, following weeks of protests in southern Sindh province over fears of water shortages.
Pakistan relaunches PIA privatisation push with May 3 bid deadline
ISLAMABAD: Pakistan has relaunched efforts to privatise its struggling national flag carrier, inviting expressions of interest by May 3, 2025 for a majority stake in Pakistan International Airlines Corporation Limited (PIACL) after a previous sale attempt failed.
Pakistan closes border, airspace to India, warns of ‘act of war’ over water treaty
ISLAMABAD: Pakistan announced a sweeping set of retaliatory measures against India on Thursday, including the immediate closure of the Wagah border crossing, shutting down its airspace for Indian airlines and the suspension of multiple bilateral agreements, in response to what it called “unilateral, unjust, politically motivated, highly irresponsible, and illegal” actions by New Delhi.
Brokerage poll sees majority betting rate cut, yet SBP likely to stand pat
By Staff Reporter
KARACHI: The central bank may consider reducing interest rates next week as inflation slows, but worries about delayed foreign funding and global trade issues could lead to caution, a top brokerage firm said.
Pakistan’s polio fight hit by new case and deadly attack
ISLAMABAD: Pakistan confirmed its seventh polio case of 2025 in Khyber Pakhtunkhwa province on Wednesday, while two security personnel were killed in an attack on a polio vaccination team in Balochistan, highlighting the persistent challenges of disease eradication amid security threats.
World Bank cuts Pakistan’s growth forecast, urges structural reforms
ISLAMABAD: The World Bank has trimmed its growth forecast for Pakistan to 2.7 percent for fiscal year 2025, a slight dip from its previous estimate of 2.8 percent, signaling that without sweeping structural reforms to bolster private investment and export strength, the country’s economic and poverty woes will persist.
Grunge flags of India and Pakistan divided by barb wire illustration, concept of tense relations between India and Pakistan
Pakistan calls security meeting after India suspends water treaty over Kashmir attack
ISLAMABAD: Prime Minister Shehbaz Sharif has called an urgent meeting of the National Security Committee, a body of top civil and military leaders, for Thursday to address India’s retaliatory measures following a deadly militant attack in occupied-Kashmir that New Delhi has linked to Pakistan-based groups.
Star designer Nomi Ansari charged in Rs1.2 billion tax evasion case
KARACHI: Tax authorities have slapped criminal charges on celebrated fashion designer Nomi Ansari, accusing him of dodging Rs1.2 billion in taxes in a case that’s potentially rock the country’s elite fashion world.
Senate erupts over controversial Cholistan Canal project
ISLAMABAD: The Senate descended into chaos on Tuesday as lawmakers from the opposition Pakistan Tehreek-e-Insaf (PTI) and coalition partner Pakistan Peoples Party (PPP) clashed over competing resolutions on the contentious Cholistan canal project, exposing deep rifts over water rights.