Business leaders vehemently opposed the State Bank of Pakistan’s (SBP) decision to reduce the interest rate by 100 basis points to 12 per cent on Monday, arguing that this meagre cut did not align with the significant downward trend in inflation. Industry representatives had called for a single-digit SBP policy rate before the Monetary Policy Meeting to revive economic activities. They said
Oil prices fell about three per cent to a two-week low on Monday, pressured by losses in Wall Street technology and energy stocks, as investors took cover after news of surging interest in Chinese startup DeepSeek’s low-cost artificial intelligence model. Oil was already down earlier in the session on weak economic data from China and worries that US President Donald Trump’s proposed tariffs co
The Pakistan Business Council (PBC) has initiated discussions with the government, aiming to establish a robust fiscal policy framework serving long-term objectives of promoting investment, creating jobs, and supporting exports. PBC Chairman Shabbir Diwan and Vice-Chairperson Ms Zeelaf Munir, CEO Ehsan Malik, and other office-bearers met with Finance Minister Muhammad Aurangzeb and Commerce Min
The government on Monday conceded contraction in two of the three major real economic sectors — agriculture and industry — signalling slower than targeted economic growth but said Pakistan was “well-positioned for continued growth momentum in the current year on the back of IMF supported policy reforms, monetary easing and fiscal consolidation”. In its half-yearly “State of Economy Report”, the
A Senate subcommittee on Monday ordered a complete audit of all solar panel imports since 2018 after showing dissatisfaction with a probe into Rs70 billion worth of under- and over-invoicing by two importers through the involvement of commercial banks. After a meeting of its subcommittee, the Senate Standing Committee on Finance and Revenue, led by Senator Mohsin Aziz, announced that fresh reve