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March 4, 2025

The Pakistan Daily

FeaturedNewsPakistan

Talks begin with IMF on new bailout

Formal negotiations between the International Monetary Fund economic review mission and Pakistan’s economic team are set to commence today (Tuesday) for a $1 billion tranche from the $7 billion bailout deal. The talks will begin with a meeting between Finance Minister Muhammad Aurangzeb and the IMF delegation, where the finance secretary and other senior officials will brief on the economic situation and ongoing reforms. In July, Pakistan and the IMF finalised a three-year, $7 billion aid package designed to help the country establish macroeconomic stability and foster stronger, more inclusive growth. The 37-month Extended Fund Facility programme includes six reviews

March 3, 2025

News Desk

Business

Pakistan’s inflation is reduced to 1.5% in February, the lowest in almost a decade

Listen to the article In February 2025, Pakistani’s inflation saw a remarkable decline, reducing 1.5% on a Yoy, the lowest interest rate since September 2015, according to Pakistani Statistics Office (PBS). The decline comes as the country navigates economic recovery as part of an international monetary fund program of $ 7 billion. The February percentage was lower than the Ministry of Finance’s provision for 2-3% and a sharp decline from the 2.4% recorded in January. Urban inflation amounted to 1.8%, while rural areas recorded 1.1%. The cumulative average inflation for the first eight months of the financial year (July-February) reached

February 11, 2025

The Pakistan Daily

FeaturedNewsPakistan

Pakistan’s economy improving at macroeconomic level: PM Shehbaz

Prime Minister Muhammad Shehbaz Sharif says the foundation of Pakistan’s economy at the macro-economic level has been gradually improving since last year. Talking to Pakistani investors and businessmen in Dubai, he said the inflation has decreased to 2.4 per cent in January this year, while the policy rate is at 12 per cent. The Prime Minister said that Pakistan’s exports, including IT exports, are on the rise, and foreign remittances have reached a record high of three billion dollars in January this year. He said Pakistan’s economic landscape has witnessed stability at macroeconomic level following agreement with the International Monetary

February 4, 2025

The Pakistan Daily

FeaturedNewsPakistan

Pakistan, KSA ink two financing agreements worth over $1b

Pakistan and Saudi Fund for Development have signed two financing agreements worth over one billion dollar. These agreements include “Deferred Payment for Oil Import from Saudi Arabia” worth 1.2 billion dollar for one year and “Construction of Gravity Flow Water Supply Scheme” at Mansehra amounting to 41 million dollar. Secretary Economic Affairs Dr Kazim Niaz and Chief Executive Officer Saudi Fund for Development Sultan Abdulrahman Al-Marshad signed the agreements. Among others, Prime Minister Shehbaz Sharif and Saudi Ambassador Nawaf bin Said Al-Malki witnessed the signing ceremony.

January 17, 2025

News Desk

Business

LSMI production is down 3.8% year-on-year

Listen to the article KARACHI: Large-Scale Manufacturing Industries (LSMI) output fell 3.8% year-on-year (y-o-y) in November 2024, highlighting persistent challenges in key sectors such as high energy costs and weak consumer demand. On a month-on-month (MoM) basis, output also declined by 1.2%, indicating subdued industrial activity amid economic headwinds. The drop in the LSMI was mainly due to significant contractions in key sectors such as furniture (-53.3%), coke and oil (-16.2%) and other manufacturing (-13.3%), according to data of the Pakistan Bureau of Statistics (PBS). ). In the first five months of 2015, the LSMI recorded a cumulative decline of