The government on Wednesday raised a cumulative Rs1.22 trillion through auctions of Treasury Bills (T-bills) and Pakistan Investment Bonds (PIBs). According to the State Bank of Pakistan, the government received bids of Rs1,730bn for T-bills and Rs1,592bn for PIBs, indicating that the investors were willing to park over Rs3.3tr collectively in the risk-free government securities. The governm
A joint committee of the Senate has declared Pakistan Customs a key impediment to cross-border trade due to its use of “irrational” practices. The Senate Standing Committee on Commerce and the Senate Standing Committee on Finance and Revenue convened their first-ever joint meeting to focus on the barter trade mechanism with Iran, a critical neighbouring trade partner. Chaired jointly by Sena
The downward trajectory in the interest rate continued to lure buyers towards auto financing, which increased to Rs257.3 billion at the end of March from Rs249bn in February. A 1,000bps cut in the interest rate to 12pc from an unprecedented 22pc in June 2024 and price stability are encouraging buyers towards new and used cars. Auto financing started improving in August 2024, when it was Rs22
Kuwait extended an oil credit facility to Pakistan for an additional two years, Pakistan’s petroleum ministry said on Wednesday, which will help Islamabad manage energy imports while maintaining its foreign exchange reserves. The extension marked the first time Kuwait has prolonged the credit facility for two years. It typically grants Pakistan one-year extensions. Pakistan says its economy
Prime Minister Shehbaz Sharif has reiterated the government’s determination to transform the country’s agriculture sector on modern lines, emphasising that the sustainable development of this key sector of the economy is inevitable. Speaking at a ceremony here on Wednesday to send off the first batch of 300 agricultural graduates on capacity-building visit to China the prime minister said t