Special Assistant to Prime Minister Muhammad Ali, in a comment to Financial Times, denied any “coercion” in negotiations with independent power producers (IPPs) following a letter signed by a group of international lenders. On Feb 18, eight Development Finance Institutions (DFIs), which have financed power projects worth $2.7 billion in the country over the past 25 years, criticised the governm
Prime Minister Shehbaz Sharif arrived in Uzbekistan on Tuesday on a two-day official visit to enhance bilateral relations with the Central Asian country. Pakistan and Uzbekistan have strengthened ties through trade and economic cooperation. A $1 billion trade deal was signed in 2023, and plans for further collaboration, including a roadmap for industrial cooperation, show the two sides’ commitm
State Bank Governor Jameel Ahmad has said banks need to diversify beyond the government sector and increase financial deepening, stressing that no country can achieve sustainable economic growth with low levels of private credit. Speaking at the Pakistan Banking Summit on Tuesday, Mr Jameel said banks’ credit to the private sector as a percentage of GDP declined to 8.4 per cent by fiscal year 2
The petrol price is expected to rise by approximately Rs4 per litre, while the diesel rate is likely to decrease slightly on Friday for the upcoming fortnight starting March 1 due to fluctuations in the international market and exchange rates. Informed sources said the ex-depot petrol price was estimated to go up by Rs4 to 4.50 per litre depending on the final calculation on Feb 28, while high-
Pakistan’s trade deficit with nine neighbouring countries surged by 40.42 per cent to $6.379 billion during the first seven months of FY25 from $4.543bn a year ago. The trade gap with the regional countries widened mainly due to higher imports from China, India and Bangladesh. In contrast to last year, exports to Afghanistan, Bangladesh and Sri Lanka increased unusually in July-January FY25. Th