The local auto industry and its suppliers are facing uncertainty ahead of the FY26 budget as the International Monetary Fund (IMF) is reportedly pressuring the government to rationalise auto tariffs and permit the commercial import of used cars. The IMF believes the auto sector is highly protective, and there is a need to rationalise tariffs to improve competitiveness and efficiency to benefit
The government only managed to spend around 41 per cent of the development funds allocated for the fiscal year despite the passage of 10 months, the planning ministry has said. The development spending stood at Rs448.6bn in the first 10 months (July-April) of fiscal year 2025, accounting for less than 41pc of Rs1.1 trillion revised budget allocation for the whole year. The lack of spending s
Bloodbath continued on the Pakistan Stock Exchange (PSX) for the second straight day as the index suffered the largest-ever plunge, causing almost Rs820 billion loss to equity investors on Thursday after India launched drone attacks in major cities, including Karachi and Lahore. The market capital had lost Rs1.3 trillion in value in three sessions as jittery investors preferred to exit the mark
Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $118 million to $10.332 billion for the period ending on May 2, announced the central bank, without disclosing the source of this inflow. Bankers believe the rise was due to the SBP’s buying of dollars from the interbank market. It has a target of $14bn by the end of this fiscal year on June 30. The country’s ove
Bitcoin topped $100,000 on Thursday for the first time since early February, bolstered by a wide-ranging deal between the United States and the United Kingdom in a sign that perhaps President Donald Trump’s trade war with the rest of the world is easing. By midday, bitcoin was trading at $101,329.97, a 4.7% gain on the day. The world’s biggest cryptocurrency has clawed its way back into positiv