Digital channels drive 92% of retail volume as Raast, mobile banking surge in Q3 FY26 KARACHI: Pakistan’s electronic payments landscape continued to expand during the third quarter of FY26, with retail payments through the banking system reaching 3.7 billion transactions during January-March 2026, up 9% from the previous quarter, according to the State Bank of…
LCCI calls for easier finance, policy consistency as number of SME borrowers grows LAHORE: Small and medium enterprise (SME) financing in Pakistan surged 46% to Rs853.94 billion in the year ending March 31, 2026, according to data from the State Bank of Pakistan (SBP), as the government marked World MSME Day on June 27. The…
Minister for Petroleum and Natural Resources Ali Pervaiz Malik speaks during an interview with Reuters, during the Pakistan Minerals Investment Forum 2025, in Islamabad, Pakistan April 8, 2025. Photo: Reuters Petroleum Minister Ali Pervaiz Malik on Saturday ruled out the impression that the government was giving any preference to any sector, saying good news was…
The federal government on Friday kept the prices of petrol and high-speed diesel unchanged from the current level for the next week. According to a press release from the Petroleum Division, the petrol price remains Rs299.5 per litre while HSD is Rs311.47. This is despite continuously falling oil prices in the international markets. Crude prices sank…
Brent crude futures fell $1.50, 1.99%, to $73.76 a barrel; US West Texas Intermediate fell $1.49,2.07%, to $70.43 Storage tanks and oil refineries in Jurong Island, Singapore, March 24, 2026. PHOTO: REUTERS Crude prices sank 2% on Friday and were headed for steep weekly losses amid easing supply concerns as more stranded oil tankers exited the…
ISLAMABAD: Pakistan has failed to attract foreign oil suppliers to set up bonded oil storages due to issues in a 2023 policy, sources told The Express Tribune. The government is now amending the policy to create a favourable environment for foreign suppliers. The Iran-US war exposed Pakistan to oil shortages when Iran closed the Strait…
73% of investors endorse Pakistan but ranking falls from 7th to 9th in regional rankings KARACHI: Pakistan’s foreign direct investment (FDI) is facing a paradox: foreign investors have become increasingly optimistic about Pakistan’s economic prospects and are more willing to recommend the country as a destination for fresh FDI, but the country continues to lag…
ISLAMABAD: The Central Development Working Party (CDWP) has approved 15 development projects worth Rs34.740 billion and recommended nine major projects with a cumulative cost of Rs431.022 billion to the Executive Committee of the National Economic Council (ECNEC) for further consideration. The meeting was chaired by Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal…
Power sector gets Rs52b equity; blames delays for Rs242m renegotiated EVTL contract The meeting also approved a TSG of Rs1.289 billion for Independence Day and Marka-e-Haq Celebrations 2025, and Rs2 billion for the Marka-e-Haq Monument Project in Islamabad. PHOTO: AFP ISLAMABAD: The Economic Coordination Committee (ECC) has approved a Rs52 billion Technical Supplementary Grant (TSG)…
$215m annual saving from dollar-to-yuan conversion draws attention of five other nations NAIROBI: Kenya’s move to convert Chinese loans from dollars into yuan to cut borrowing costs is drawing interest from at least five other African and Asian nations, an AidData study found, in a sign debt-laden borrowers are exploring alternatives to expensive dollar-linked financing….