Pakistan wins first S&P upgrade to ‘B’ since 2019 on IMF reforms

KARACHI: S&P Global Ratings raised Pakistan’s long-term sovereign credit rating to B from B-, the country’s second upgrade in 12 months and its highest standing since 2019, as the South Asian nation locks in gains from an International Monetary Fund overhaul that has rebuilt foreign reserves and narrowed budget gaps.

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Pakistan raises diesel by 7.15 rupees, petrol by 4.93 as daily pricing takes hold

ISLAMABAD: Pakistan raised the price of high-speed diesel by 7.15 rupees and petrol by 4.93 rupees a liter, according to a Petroleum Division notification issued on Tuesday, extending a pattern of near-daily increases since the country abandoned weekly fuel pricing in favor of a system that adjusts rates every 24 hours.

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Pakistan on high alert as monsoon deaths pass 50 and flash flood warning issued for four provinces

ISLAMABAD: Pakistan’s disaster management authority has issued a high alert for flash floods, urban flooding and landslides across large swathes of the country, after monsoon rains killed at least a dozen more people in the northwest over a single 24-hour period, pushing the nationwide death toll for the season past 50.

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