Months after its first attempt to sell off Pakistan International Airlines (PIA) stalled, the government on Thursday invited fresh bids with more incentives for buyers. The investors can submit an expression of interest by June 3, with the bidding process expected to take place between October and December. The government is offering 51 to 100 per cent share capital, with management cont
The recent turmoil from the global trade war has created significant uncertainty, and the State Bank warns it may pose challenges to the national economy. “The heightened uncertainty amid the recent wave of protectionist measures and its associated implications on global economic growth and financial conditions may also pose challenges for the domestic economy,” said State Bank in its annual re
With the threat of steep new US tariffs looming over Pakistan’s textile sector, two federal ministers have pledged to raise exporters’ concerns at the highest level, seeking urgent revisions to the export finance scheme and tax policies to help Pakistani businesses remain competitive in the international market. Planning Minister Ahsan Iqbal and Defence Minister Khawaja Asif made the commitment
The State Bank of Pakistan (SBP) foreign exchange reserves dropped further by $367 million to $10.205 billion during the week ending on April 18 due to external debt repayments, announced the central bank on Thursday. The country’s overall forex holdings slipped to $15.436 billion, including $5.230bn held by commercial banks. Dollar bonds dive According to a Reuters report, Pakistan’s dol
Presenting a mixed bag of economic stabilisation apparently at the cost of manufacturing stagnation, the government on Thursday hinted at further cuts in the interest rate amid rising inflation estimates. In its monthly review, the Ministry of Finance (MoF) also confirmed struggling tax revenues to meet budget targets, yet overwhelming growth in non-tax revenues, particularly earned through pea