Category: bussines

BRUSSELS: Pakistan is halfway into the ongoing $7 billion 36-month long Extended Fund Facility (EFF) approved in October 2024 by the International Monetary Fund (IMF) board. This austerity programme like all previous IMF programmes is causing jitters across Pakistan’s political and media landscape. Former and current ministers including economic commentators are openly blaming the IMF-mandated policies for being anti-growth and worsening the country’s financial health and increasing social distress. Recently, even the SIFC national coordinator said that the “country’s growth plan was missing” and that “we have made a mess…

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Global inflation is expected to fall to 3.8% this year and to 3.4% in 2027, helped by softer demand and lower energy prices, the IMF chief said on Monday. Managing Director Kristalina Georgieva said in a speech in the Annual Arab Fiscal Forum in Dubai that global growth has held up ‘remarkably well’ amid profound shifts in geopolitics, trade policy, technology, and demographics. Read: Fuel prices likely to rise from Feb 1 amid inflation pressures Georgieva also called for more trade integration as unilateral trade agreements are seen to increase. “In…

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ISLAMABAD: Pakistan’s total public debt remained Rs17 trillion higher than the maximum statutory limit set by Parliament to ensure fiscal discipline during the last fiscal year, but the government has still managed to reduce refinancing risks by extending the tenor of domestic loans. The Debt Policy Statement 2026 disclosed that, against the maximum permissible debt limit of 56% of Gross Domestic Product (GDP), public debt surged to 70.7%. The statement has been prepared for the information of the National Assembly under the requirement of the Fiscal Responsibility and Debt Limitation…

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Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday emphasised that the Generalised Scheme of Preferences Plus (GSP+) preferential trade scheme remained a crucial framework for mutually beneficial trade with the European Union (EU). The EU’s GSP+ offers developing countries preferential access to European markets in return for commitments on sustainable development and good governance. Under the scheme, eligible countries are required to implement 27 international conventions covering human rights, labour rights, environmental protection, and good governance. In exchange, the EU reduces import duties to zero on more than two-thirds of the tariff lines applied to…

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KARACHI: The Pakistan Stock Exchange (PSX) rebounded sharply on Friday as the benchmark KSE-100 index climbed over 1,800 points to close above 184,100, after touching an intraday high of 186,619 points, with gains driven by heavy buying in index-heavy stocks amid improving geopolitical signals, easing macroeconomic concerns and renewed investor interest across key sectors, despite profit-taking at higher levels and lingering caution over regional tensions. “The index took a breather today, surging to an intraday high of 186,619 points (+4,281 points); however, gains were pared back due to profit-taking at…

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KARACHI: Gold and silver prices recorded a further decline in international and domestic markets on Saturday, reflecting a sharp downturn in bullion rates. In the international bullion market, gold prices fell by $255 per ounce to $4,895. The decline was mirrored in the local market, where the price of gold per tola dropped by Rs25,500 to Rs511,862. The price of gold per 10 grams also fell by Rs21,862 to settle at Rs438,839. Silver prices also moved lower, with the per tola rate declining by Rs2,063 to Rs9,006, while the price…

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KARACHI: The federal government has decided to expand government-to-government (G2G) exports of non-traditional Pakistani products to earn foreign exchange. For the first time, a chairman from the private sector has been appointed to the Trading Corporation of Pakistan (TCP). Following this appointment, the federal government has entrusted TCP with the key task of selling commodities and pharmaceuticals at the global level to boost exports. Speaking to The Express Tribune, TCP Chairman Asim Siddiqui said TCP will now export agricultural commodities and medicines worldwide on a G2G basis. He added that…

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ISLAMABAD: The federal government has said that following the privatisation of Pakistan International Airlines (PIA), the privatisation of Islamabad International Airport has been declared a priority, adding that the process will be carried out through open bidding rather than government-to-government (G2G) arrangements. According to details, during a meeting of the Senate Standing Committee chaired by Senator Afnanullah Khan on Friday, the Secretary of the Ministry of Privatisation told the committee during a briefing that the privatisation of Islamabad Airport is the next priority after PIA. He said that Saudi Arabia,…

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ISLAMABAD: As the tax shortfall against the downward revised target widened to Rs374 billion, the central bank on Friday ordered commercial banks to remain open on a holiday in the hope of collecting a few billion rupees more to minimise the yawning gap. The Federal Board of Revenue (FBR) collected Rs7.15 trillion till the last working day of the month, falling short of the July-January target by a margin of Rs374 billion, according to provisional results compiled till Friday evening. Compared to the same period last year, the collection was…

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ISLAMABAD: Cabinet members have raised questions over the use of polymer substrate banknotes and observed that further analysis was required regarding the possible discontinuation of the Rs10 banknote. The issue was taken up in a recent high-level meeting chaired by Prime Minister Shehbaz Sharif. Sources said that during the discussion, cabinet members observed that greater diligence was required in relation to the use of polymer substrate banknotes to ensure that the material was fit for human use, especially given the possibility of young children chewing them instinctively. The cabinet members…

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