TAG

Economy

Pakistan, Turkiye explore industrial partnership opportunities

Pakistan and Turkiye enhance investment cooperation at a business conference led by SIFC, focusing on joint ventures and policy reforms.

Saylani chairman declares cryptocurrency permissible

Cleric Maulana Bashir Farooq Qadri declares cryptocurrency permissible, aligning with state policy amid global adoption.

Oil firms warn of fuel shortage, urge action

Oil companies warn of petrol shortage, urge government intervention as reserves dwindle to 15 days' supply.

Fuel supply to Lahore pumps cut by 50%

Fuel supply to Lahore pumps cut by 50% due to global price hike, affecting rural and urban areas. Companies appeal to OGRA for nationwide fuel availability.

PM vows tech-driven livestock revolution

PM Shehbaz Sharif highlights tech-driven livestock potential, urges provincial collaboration. Discusses economic reforms, tax system improvements.

China, Russia, Türkiye show interest in Pakistan Steel Mills revival

Pakistan accelerates efforts to revive Steel Mills, with interest from China, Russia, Turkiye, and Saudi Arabia for potential investment.

Pakistan seeks $6.7bn Saudi oil financing package

Pakistan seeks 6.7 bn USD oil financing from Saudi Arabia to counter rising global oil prices and ensure energy security.

Oil prices rise for fourth straight day

Oil prices rise for the fourth day amid Hormuz strait tensions after U.S. attacks in Iran, with Brent reaching 85.28 U.S. dollars per barrel.

Gadani ship recycling resumes after eight years

Ship recycling resumes at Gadani after 8 years, boosting economy with 25 mn USD per ship and meeting 30% of steel scrap needs.

Pakistan repays Rs4,722bn debt ahead of schedule

Pakistan repays 17 bn USD debt early, boosting investor confidence and financial stability.

IBM shares plummet, market value drops 70 bn USD

IBM shares experience worst drop in 58 years, market value falls by 70 bn USD due to disappointing results, AI race, and cybersecurity costs.

Pets outnumber children in Japan amid falling birth rate

In Japan, pets now outnumber children, with companies focusing on pet products as the birth rate declines.

KP releases 80.7 bn rupees for development projects

KPK releases 80.7 bn rupees for development projects under ADP 2026-27, showcasing financial stability. Funds allocated for roads, health, education in settled and merged districts.

Dollar fluctuates in interbank, open market

Dollar value drops in interbank, rises in open market for fourth day due to increased demand.

IMF forecasts 8.4% inflation in Pakistan

IMF projects Pakistan's inflation at 8.4% for 2026-27, exceeding government targets, with a forecasted decrease in subsequent years.

US-Iran tensions hit Pakistan stock market

US-Iran tensions cause 3.6% drop in Pakistan Stock Exchange, impacting global markets and oil prices.

Islamabad court approves Telenor-Ufone merger

Islamabad court approves Telenor's merger with Ufone, transferring all assets and liabilities, ensuring compliance with legal requirements.

Audit reveals 63 bn rupees postal sector discrepancy

Audit reveals a 63 bn rupees discrepancy in the postal sector, highlighting unauthorized bank account management and major financial irregularities.

Pakistan sees 40% rise in vehicle sales

Pakistan's vehicle sales rose 40% in fiscal year 2025-26, driven by strong purchasing power and new models, with 155,000 units sold, according to PAMA.

Tensions in Hormuz may raise fuel prices

Tensions in the Strait of Hormuz may lead to higher petrol prices in Pakistan, prompting the government to consider daily pricing adjustments.

Government extends auto policy by one year

Government extends current auto policy by a year amid ongoing talks with IMF. New policy aims to boost jobs, industry, and safety standards.

Petroleum prices reform amid Hormuz closure

Petroleum Minister Ali Pervaiz Malik addresses global market uncertainty after Hormuz closure, exploring pricing reforms and local diesel production.

Karachi flour mills set up fair price stalls

Karachi flour mills set up stalls selling flour at reduced rates to aid citizens, offering a 10 kg bag for 1,250 rupees.

Khyber Pakhtunkhwa ensures wheat supply

Khyber Pakhtunkhwa ensures wheat supply with local purchases, urges Punjab to lift transport restrictions for market stability.

Dollar rises in open market, falls in interbank

Dollar rises in open market to 279.64 rupees, falls in interbank to 278.02 rupees.

Gold prices drop sharply in Pakistan, globally

Gold prices in Pakistan and globally see a sharp decline after a day's pause, with significant drops in both local and international markets.

Flour prices surge in Karachi after fresh notification

Flour prices in Karachi have increased with a new notification issued. Regular and fine flour rates have risen, while mill flour price remains unchanged.

Pakistan’s foreign exchange reserves near $24 billion mark

Pakistan's forex reserves near 24 bn USD, boosted by external funds, strengthening financial stability.

Pakistan’s seafood exports reach 568m USD in FY2025-26: SIFC

ISLAMABAD (Lord Media): Pakistan's seafood exports reached 568 million U.S. dollars during the fiscal year 2025-26, reflecting the country's expanding blue economy and growing...

Gold jumps Rs3,600 per tola as global uncertainty rises

Gold prices have surged globally and locally due to rising Iran-US tensions, with per ounce prices increasing by 36 U.S. dollars.

Islamabad Excise collects record Rs25.43 billion revenue

Islamabad Excise Department collects record 25.43bn rupees in 2025-26, reflecting increased public trust and effective policies.

Pakistan’s GDP growth reaches 3.3% in FY2025-26

Pakistan's GDP growth for 2025-26 was 3.3%, below the estimated 3.7%. Sectoral differences and questionable growth rates in key industries contributed to the shortfall.

S&P praises Pakistan’s economic reforms, Finance Minister

Pakistan's economic performance is improving due to reforms and policies, says Finance Minister. S&P Global praises fiscal discipline and debt sustainability.

Microsoft to cut 4,800 jobs worldwide

Microsoft to lay off 4800 staff globally, impacting Xbox division. Asha Sharma cites low profits, hardware crisis, and competition as reasons.

Pakistan launches digital platform InvestPak to ease investments

Finance Minister Aurangzeb launches Invest Pak portal to enhance investment with digital ease, aiming to attract both local and foreign investors.

Gold price drops by Rs2400 per tola in local market

Gold prices in Pakistan dropped by 2400 rupees per tola, with international rates fluctuating, settling at 4174 U.S. dollars per ounce.

Flour prices rise, 20kg bag hits Rs2,900

Flour prices rise, 20kg bag hits Rs2,900. Karachi sees highest prices.

World Bank flags widening funding gap between Pakistan’s provincial capitals, districts

World Bank warns of funding gaps in Pakistan, highlighting disparities in resource allocation between provincial capitals and districts.

Economic partnerships vital in changing global landscape, says Dar

Ishaq Dar stresses expanding economic ties amid global changes, highlighting Pakistan-Turkiye cooperation and welcoming investments in IT, mining, energy.

Karachi key to boosting Pakistan’s exports, Investment Minister

Minister stresses Karachi's role in boosting exports, highlights challenges like high energy costs. Special economic zone planned with zero duty for ten years.

Salaried Pakistanis pay record Rs633bn in taxes

Salaried Pakistanis paid 633 bn rupees in tax, surpassing exporters and real estate sectors, contributing significantly to the economy.

Imported RLNG gets up to 16% price hike

LNG prices for June have increased, with Sui Northern seeing a 14.94% rise and Sui Southern experiencing a 16.17% hike.

Brent crude falls below 75 USD per barrel

Brent crude prices drop below 75 USD per barrel amid U.S.-Iran agreement and increased Gulf supply.

Oil firms urge govt to consult on price cuts

Oil firms urge govt consultation on price cuts, warn of supply risks. OCAC demands fair pricing to avoid financial crisis.

Duties revised on imported cars over 2000cc

Duties on imported cars over 2000cc revised, effective July 1. Electric vehicles face new customs duties.

Kia reduces Sportage price by 1 mn PKR

Kia Pakistan cuts Sportage Alpha price by 1 mn PKR, effective June 22, 2026. New price excludes freight, insurance. Peugeot price cuts announced too.

Pakistanis buy 3 trillion Iranian rials in 5 days

Pakistanis buy 3 trillion Iranian rials in 5 days as rial value doubles post Iran-U.S. agreement.

Only 30 pct adults in Pakistan use formal banking

Only 30% of Pakistani adults use formal banking despite widespread digital IDs, says Bank of Punjab President.

Textile mills oppose FBR camera installation

Textile mills oppose FBR's camera installation plan, citing cost concerns. Owners threaten factory closures if forced to comply.

SECP launches digital financing for women

SECP introduces 'Khudmukhtar Khatoon' digital financing for women, offering up to 1.5 million rupees for business assets via the 'Hakeem' app.

FBR to cut duty on imported mobile phones

FBR to cut duty on imported mobile phones, impacting revenue. Reduction could affect phones valued up to 200 U.S. dollars.

Pakistan approves higher duties on imported cars

Pakistan's Finance Committee approves higher duties on imported hybrid, electric, and luxury vehicles, impacting auto policy and tax structure.

China boosts investment in Pakistan markets

China boosts investment in Pakistan markets, fostering financial cooperation and new opportunities.

Solar panel prices drop by 2000 rupees

Solar panel prices in Lahore drop by 2000 rupees due to no tax hike.

Kerosene price cut by 48 rupees per litre

Govt cuts kerosene price by 48 rupees per litre, benefiting rural households relying on it for heating.

Pakistan’s inflation rises by 15.28 pct annually

Pakistan's inflation rises by 15.28% annually due to food prices. Petrol, diesel, electricity, flour, and LPG see significant hikes.

Finance Minister unveils faceless tax system

Finance Minister Aurangzeb introduces faceless tax system, credits leadership for peace. Economic stability achieved, current account surplus, IT exports up 20%.

Finance Minister denies budget changes

Finance Minister denies budget changes, citing misinterpretation. Economic indicators improve with 6% manufacturing growth, rising exports, and freelancer success.

Transport fares cut by up to 15% after fuel price drop

Transport Authority cuts fares by up to 15% after fuel price drop, impacting public and goods transport costs.

National airline privatization finalized

National airline's privatization deal finalized with all approvals, management control to transfer by June end.

3.5m shopkeepers to join tax net this year

3.5m shopkeepers to join tax net this year, boosting economy.

Fuel prices drop in Pakistan, restrictions lifted

Fuel prices in Pakistan drop significantly, leading to lifted restrictions. Petrol now 299 rupees, diesel 311 rupees per litre.

Iranian rial demand surges post peace deal

Iranian rial demand surges in Pakistan post Iran-U.S. peace deal, with 2 trillion rials bought in four days.

Pakistan’s external loans rise by 5.21 bn USD

Pakistan's external loans rose by 5.21 bn USD, reaching 12.10 bn USD in 11 months, with significant contributions from international institutions.

Budget praised even by critics, says Tarar

Federal Minister Atta Tarar says the budget is praised even by critics, with benefits for salaried individuals, industry, and exporters.

Power Division unveils new electricity bill format

Power Division unveils new electricity bill format to simplify consumer understanding, enhancing transparency and user experience.

Pakistan Railways outsources five trains

Pakistan Railways outsources five trains, generating 10.7823 bn rupees, while 10 remain unbid due to high benchmarks.

No inflation rise after fuel price cut: minister

Finance Minister Aurangzeb says no inflation rise post fuel price cut, with economic growth foundations laid and 18 billion U.S. dollars expected by fiscal year-end.

Pakistan’s IT exports hit record 4.2 bn USD

Pakistan's IT exports hit a record 4.2 bn USD in 11 months, with a 20% increase. Expected to surpass 4.5 bn USD by fiscal year's end.

PM pledges solar power funding for Gilgit-Baltistan

PM Shehbaz pledges federal funding for 100 MW solar project in Gilgit-Baltistan, aiming for completion by December with third-party validation for transparency.

Karachi port sees 2,000 ships after 8 years

Karachi port reaches 2,000 ships milestone after 8 years, boosting maritime trade and economy.

PTI leader warns of economic risks from debt reliance

PTI's Salman Akram Raja warns that reliance on loans may worsen economic issues, urging reforms for stability.

FBR intensifies crackdown on tax fraud

FBR intensifies crackdown on tax fraud, proposing heavy fines and penalties for non-integration with digital tax systems in Finance Bill 2026.

Shehbaz vows to save state, economy

Shehbaz Sharif vows to save state over politics, stabilizing economy. Budget offers tax relief for salaried class, boosts housing sector.

Modi’s policies face backlash amid economic woes

Modi's Hindutva policies criticized for economic decline, rupee weakens, investment drops. Government accused of glorifying Modi, marginalizing Muslims.

Hefty fines proposed for non-digital businesses

The 2026-27 budget proposes fines for businesses not integrating digitally with FBR, with penalties up to 5 million rupees for repeated violations.

Pakistani diet shifts amid rising food prices

Pakistani diet shifts as food prices rise, reducing consumption of wheat, rice, pulses, milk, and meat, according to the Pakistan Economic Survey 2025-26.

Forex reserves rise by 35.7 mn USD

Forex reserves rose by 35.7 mn USD, reaching 22.62 bn USD by June 5, with central bank reserves at 17.21 bn USD and commercial banks at 5.45 bn USD.

Govt cuts customs tariffs, offers 180 bn relief

Govt reduces customs tariffs in new finance bill, providing 180 bn rupees relief. Duties on over 7,500 raw materials, components, machinery reduced.

Govt plans 6.779 tn rupees borrowing in 2026-27

Govt plans to borrow over 6.779 tn rupees in 2026-27, with 8.054 tn rupees set for interest payments. Additional loans and external grants are also part of the plan.

Govt to offer interest-free loans to 86,000 people

Govt to provide interest-free loans to 86,000 people under the poverty alleviation program in the 2026-27 budget, aiming to empower low-income groups.

PM claims economy stable despite challenges

PM Shehbaz Sharif claims the economy is stable despite challenges, with inflation reduced and policy rates lowered. He emphasizes investment in alternative energy.

Pharma firms urge forex policy change to boost exports

PPMA seeks 35% forex retention for pharma firms to boost exports to 2 bn USD, citing marketing cost coverage. Current 15% limit deemed insufficient by Dr. Waheed.

Customs arrest suspect in 11 crore rupee fraud

Pakistan Customs arrests suspect in 116.5 million rupee fraud under Export Facilitation Scheme, with duty-free imported cotton illegally sold.

Poverty rises, 800,000 Pakistanis move abroad

Poverty in Pakistan has risen to 28.9%, with 800,000 citizens moving abroad for jobs. Balochistan is the poorest province with a 47% poverty rate.

Oil prices surge after Iran’s Hormuz closure

Oil prices rise sharply after Iran's Strait of Hormuz closure announcement amid regional tensions, impacting global energy supply and economy.

Government plans tax relief for salaried class

Government plans income tax relief for salaried class, proposes new slabs and reductions. Awaiting IMF approval today.

Provinces agree to cover federal fiscal deficit

Provinces agree to cover federal fiscal deficit, offering up to 1,700 billion rupees. Punjab pledges over 500 billion rupees. Budget delay due to elections, leadership unavailability.

Pakistan’s debt rises by 7 trillion rupees

Pakistan's debt has surged by 7 trillion rupees over the past year, reaching a historic high of 81,930 billion rupees, posing a major challenge to the economy.

Iran-US tensions to impact economy till next year

Finance Minister Aurangzeb says Iran-US tensions will affect economy till next year, subsidies targeted to specific groups. Economic survey to reveal key facts.

Remittances rise 20.2% in May 2026

Remittances in May 2026 rose 20.2% from the previous month, with a 15.4% increase from last year, positively impacting foreign reserves.

Latest news