Oil prices climbed about two per cent to a two-week high on Monday after the US and China agreed to temporarily slash tariffs, raising hopes of an end to the trade war between the world’s two biggest economies. Brent crude futures rose $1.35, or 2.1pc, to $65.26 a barrel by 11:39am EDT (1539 GMT), while US West Texas Intermediate (WTI) crude gained $1.40, or 2.3pc, to $62.42. The US and Chin
As the International Monetary Fund (IMF) is pushing the government for rationalisation of tariffs on the auto industry, the All Pakistan Car Dealers and Importers Association (APCDIA) has urged the government to allow the import of used vehicles with certain conditions through banking channels in the budget FY26. This step will eliminate the outflow of foreign exchange through the kerb market a
The Pakistan Textile Exporters Association (PTEA) has urged the government to rectify anomalies in the industrial electricity tariff, which will penalise large industries investing in high-voltage infrastructure. The demand came from the association when the country’s textile exports have slowed down in the past few months owing to structural changes and the high cost of energy. In a sta
The government is finalising a plan to introduce a subsidised housing scheme for the lower-income class and mortgage facilities for the middle class with the involvement of commercial banks, starting with government-sponsored 200,000 low-cost housing units. Prime Minister Shehbaz Sharif is expected to formally announce the scheme to revive the housing and construction sector, which is passing t
akistan paid over $3.8 billion in external debt servicing in the third quarter of the current fiscal year (FY25), including $1.263bn as interest, the State Bank reported on Monday. In 2025, Pakistan’s external debt servicing amounted to $26bn and initially appeared to be a very difficult task; however, the government has come close to achieving the target. The SBP data showed that Pakistan p