Pakistan and Saudi Arabia on Friday signed an agreement to extend a $3 billion deposit from the Saudi Fund for Development (SFD). Saudi Arabia, earlier this week, pledged an additional $3 billion in deposits for Pakistan and extended its existing $5bn facility for a further three years. “The agreement, signed between the Saudi Fund for […]
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KARACHI: Geopolitical tensions have not dampened the hopes of new car buyers, as outstanding auto loans surged for the 16th consecutive month to Rs345.34 billion in March, up from Rs336bn in February, thanks to lower interest rates. However, sales of cars, sports utility vehicles, pick-ups and vans totalled 15,531 units in March, up 40 per […]
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• Recommends tax reduction for sake of affordability; Qamar likens income tax on phones to sales tax• Senate committee questions high SMS alert charges ISLAMABAD: A parliamentary committee on Thursday expressed concern over the high tax burden on mobile phones, directing the Tax Policy Office (TPO) in the Ministry of Finance to submit a detailed […]
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• Duration nearly three times more than what was announced earlier• Minister cites LNG import disruption, Middle East crisis as key factors• Shortfall estimated at 3,400MW• Demand spikes from 9,000MW to 20,000MW in days• Nuclear plant maintenance postponed to boost supply ISLAMABAD: Power Minister Awais Leghari on Thursday confirmed six to seven hours of load […]
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KARACHI: Despite a relatively small sum, foreign direct investment (FDI) surged by 165 per cent in March, even as the region remained engulfed in full-scale conflict. The data posted by the State Bank of Pakistan on Thursday showed that the country received $167 million in March compared to just $63m a year ago; an increase […]
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ISLAMABAD: Pakistan’s Large-Scale Manufacturing (LSM) sector posted a year-on-year growth of 5.89 per cent in July-February 2025-26. Industrial production in February grew 6.45pc YoY, according to figures released by the Pakistan Bureau of Statistics on Tuesday. However, on a month-on-month basis, the LSM recorded a negative growth of 8.97pc in February. Industrial output has rebounded […]
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KARACHI: Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry on Thursday announced the creation of a state-of-the-art 400-acre small industrial estate at Port Qasim to foster industrial growth and boost investor confidence. He said the development strategy would prioritise infrastructure readiness ahead of plot allocation. “Unlike conventional practices, where investors are shown undeveloped land, this project […]
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ISLAMABAD: Pakistan’s textile and clothing exports fell 7.06 per cent in March compared with the same month last year, marking a second consecutive monthly decline and signalling weakening global demand. The fall follows a brief recovery in January, when the sector posted a modest year-on-year increase of 3.14pc, according to data released by the Pakistan […]
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ISLAMABAD: Japan has announced that it will contribute $2 million to “support vulnerable communities affected by disasters across Pakistan”, a move which has been welcomed by the United Nations World Food Programme (WFP), according to a press release issued on Thursday. “This contribution will enable WFP to provide food assistance to more than 45,000 people, […]
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Pakistan recorded a sizable current account surplus in March, it emerged on Wednesday. In a post on social media platform X, the State Bank of Pakistan said, “Current account balance recorded a surplus of $1,070 million in Mar 2026 compared to a surplus of $231 million in Feb 2026.” Adviser to the Finance Minister Khurram […]
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