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SBP to Islamabad: No reforms, no rate cut, no growth
KARACHI: The State Bank of Pakistan (SBP) has sent a clear message to Islamabad: without substantial economic reforms, there will be no interest rate cut and no sustainable economic growth. The central bank remains firm on its stance that lowering i...
PM Shehbaz leads efforts to stabilize sugar market
ISLAMABAD: A high-level meeting of the Prime Minister Shehbaz Sharif Committee on the import of raw sugar was held under the chairmanship of Federal Minister for National Food Security & Research, Rana Tanveer Hussain. The meeting, attended by M...
Pakistan car sales decline 29% MoM in Feb 2025
KARACHI: Car sales in Pakistan fell 29% month-on-month (MoM) in February 2025 to clock in at 12,084 units, as compared to the previous month. However, on a year-on-year (YoY) basis, February sales recorded a 24% rise, as per data from the Pakistan A...
IMF agrees to govt's proposal for electricity price reduction
KARACHI: The International Monetary Fund (IMF) has agreed to the government's proposal to reduce electricity prices, with a final decision expected next month. Sources indicated that electricity base tariffs could be reduced by Re1 to Rs2 per unit,...
Aurangzeb, UN officials discuss debt management, climate financing
ISLAMABAD: In a key development, Finance Minister Muhammad Aurangzeb discussed the country's debt management and restructuring with Mohammed Yahya, the United Nations Resident Coordinator at the Finance Division yesterday. Yahya was accompanied by A...
Gold price per tola increases Rs4,800
KARACHI: Gold prices in Pakistan surged on Tuesday, following an increase in international rates. In the local market, the price of gold per tola rose by Rs4,800, reaching Rs306,300. Similarly, the price of 10-gram gold climbed by Rs4,115 to settle a...
KSE-100 surges over 750 points
KARACHI: Positive momentum returned to the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark KSE-100 Index closing with a gain of over 750 points. The market remained range-bound in the initial hours of trading but gained momentum in the...
Pakistan confident ahead of IMF bailout review, says Aurangzeb
ISLAMABAD: Pakistan is "well positioned" for the first review of its $7 billion International Monetary Fund (IMF) bailout programme, Finance Minister Muhammad Aurangzeb said on Tuesday, as talks with the global lender commenced. Islamabad secured the...
PM Shehbaz pushes $2bln Pakistan-Azerbaijan trade plan
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed the Ministry of Commerce to present a comprehensive action plan to enhance the current trade volume between Pakistan and Azerbaijan to $2 billion. Chairing a high-level meeting in Islamaba...
Govt shelves electricity tariff rebasing plan
ISLAMABAD: The government has abandoned its proposal to rebase electricity tariffs from January 1 each year instead of the existing July 1 schedule, following the International Monetary Fund's (IMF) refusal to endorse the move, according to informed...
