Officials say initiative expected to attract local, foreign investment and support transition toward digital system The Power Division and the International Finance Corporation (IFC) on Monday signed a Transaction Advisory Services agreement aimed at modernising Pakistan’s electricity distribution system through large-scale smart metering, PTV reported. Under the plan, around 10 million electricity consumers across the…
By helping the world reduce oil prices from the $150-$200 range and saving hundreds of billions in import bills and high interest expense, Pakistan has earned its seat at the table. photo: REUTERS KARACHI: Pakistan’s genuine efforts and role as a global peacemaker are finally being taken seriously. Diplomacy is a two-way street, and Pakistan…
Govt is no longer borrowing to fund infrastructure or improve human capital; it is borrowing to service interest on pr KARACHI: The prevailing narrative suggesting that Pakistan has achieved macroeconomic stability through the current International Monetary Fund (IMF) programme is a dangerous oversimplification. Such a perspective conveniently ignores the systemic erosion of the national industrial…
For years, Pakistan has relied on friendly countries for financing, but recent developments suggest shift in behaviour ISLAMABAD: Pakistan’s economic managers often point to rising foreign exchange reserves as a sign of stabilisation. On paper, the narrative appears reassuring: reserves have recovered from crisis lows, inflation remains within range, and the country continues to meet…
Existing communication methodology is being reused, repackaged rather than reformed KARACHI: The Monetary Policy Reports (MPRs) published by the State Bank of Pakistan (SBP) try to show the SBP’s intention of transitioning towards a more up-to-date, inflation-targeting framework where the central bank’s timely information sharing becomes crucial. The SBP attempts to pivot towards global best…
ISLAMABAD: “We are constrained to observe that the income tax authorities unnecessarily wasted time, money, and effort which could have been better utilised for more productive causes. They discarded the clear determinations by three forums and the EFU case precedent. Such disdain and persistence without cause do not engender confidence in taxpayers nor help establish…
Secures $1.7b AIIB portfolio, JICA lending resumption as Pakistan eyes rating upgrade Finance Minister Muhammad Aurangzeb in an interview at the World Bank Spring Meetings 2026 with China Global Television Network’s program “The Heat”. PHOTO: SCREENGRAB WASHINGTON: Finance Minister Muhammad Aurangzeb concluded a productive final day of engagements at the International Monetary Fund (IMF) and…
The commerce minister directed industry stakeholders to submit comprehensive proposals for a long-term automotive policy aligned with national industrial goals. Photo: file KARACHI: Pakistan’s auto sector has welcomed a major policy shift aimed at revitalising local manufacturing, as the government moves to phase out used car imports under the baggage scheme, previously responsible for tens…
State Bank of Pakistan. Photo: File WASHINGTON: State Bank of Pakistan (SBP) Governor Jameel Ahmad has said that Pakistan’s key macroeconomic indicators have improved faster than anticipated at the beginning of the fiscal year, according to a statement by the central bank on Saturday. While noting that the ongoing conflict in the Middle East has…
ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Saturday announced that construction work has begun on an environmentally efficient floating jetty at the Korangi Fisheries Harbour at a cost of Rs120 million to facilitate the offloading of export-quality fish catch. The minister was chairing a meeting of the Korangi Fisheries Harbour Authority…