The current account deficit (CAD) declined sharply by 81 per cent in the first two months of the financial year (FY25) while August posted surplus after four months. The declining trend has finally produced a $75 million surplus for August, compared to a deficit of $152m in the same month of the previous year. This must be a big relief for the government as it is struggling to deal with a hu
Gunvor Group Chairman Torbjorn Tornqvist and Total Energies Vice President Mehmet Celepoglu met with Prime Minister Shehbaz Sharif on Monday to explore potential investments in Pakistan's energy sector. During the meeting, the prime minister highlighted that the country's economy had stabilised and was now on a path of growth and development. He highlighted ongoing reforms aimed at boosting
Pakistan is set to formally request Qatar to reduce its liquefied natural gas (LNG) supplies in a bid to relieve pressure on gas utilities, as the country's power sector has shown reluctance to lift its allocated gas volumes. Currently, Pakistan imports 10 LNG cargoes per month under contractual agreements, with Pakistan State Oil (PSO) importing nine cargoes from Qatar and one from the Italian fi
As the government continues to struggle in maintaining discipline across its departments, the Civil Aviation Authority (CAA) has approached the Supreme Court of Pakistan in a tax dispute exceeding Rs50 billion against the tax authorities. The CAA, which oversees Pakistan's aviation industry, filed a civil petition for leave to appeal despite the Sindh High Court's directive to resolve the inter
The Asian Development Bank (ADB) has assured Pakistan of providing $2 billion annually in new loans, as Islamabad seeks half of the amount on concessional terms amid government's inability to get cheaper credit due to its worsened ratings. The assurance to provide $2 billion per annum has been given by the visiting ADB president Masatsugu Asakawa during his interaction with Pakistani authoritie