KARACHI – The Indus Motors Company (IMC), the assembler and seller of Toyota-brand vehicles in Pakistan, has decided to “completely” shut down its production plant in the country from February 1-14 due to restrictions on import. The automaker has informed the general manager of the Pakistan ...

ISLAMABAD – The International Monetary Fund mission arrived in Pakistan late Monday to discuss the stalled ninth review of the crucial funding programme, with the country’s economy worsening with each passing day. Reports in local media suggest that the IMF mission chief for Pakistan Nathan ...

ISLAMABAD/MOSCOW – Foreign Minister Bilawal Bhutto has arrived in the Russian capital on his maiden visit, in another bid to boost bilateral ties between the two sides. FM Bilawal was received by senior officials of the Russian Foreign Ministry, Pakistan’s ambassador to Russia Shafqat Ali ...

ISLAMABAD – The economic crisis in Pakistan appears to further worsensing as the government has reportedly not released the funds for the country's embassies and missions abroad including the payment of salaries of their employees. The Express News, quoting its sources, claimed that the ...

Pakistan’s trade numbers show an overall decline in the first half of the current fiscal year, and its export recovery is dependent on the pace of global economic recovery and reduction in uncertainty, according to World Bank Senior Economist, Gonzalo Verela. Pakistan’s July-December ...

Pakistan’s current account deficit decreased by over 85 percent on a year-on-year (YoY) basis to clock in at $0.28 billion in November, data released by the State Bank of Pakistan (SBP) showed on Friday. The country had posted a deficit of $1.9 billion in November 2021. On a month-on-month ...

The country’s textile group exports declined by around 5 percent during the first five months (July-November) of the current fiscal year 2022-23 (FY23) and stood at $7.361 billion as compared to $7.757 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) ...

The future energy landscape of Pakistan looks grim as it has already consumed 79.8% of its total oil reserves and 66.6% natural gas reserves. A report by the Petroleum Division sent to the Attorney General of Pakistan (AGP) states that Pakistan has used 985 million barrels of oil out of its 1,234 ...

ISLAMABAD: Pakistan will likely secure a multibillion-dollar financial support package from long-time ally Saudi Arabia link this month, two sources said, as the country's ninth review of a $7 billion IMF bailout ran into snags. The two finance ministry officials said the Saudi package would ...

Day by day, the Pakistani currency is losing its ground against the US dollar due to its depleting forex reserves which have plunged to multi-year low to $6.72 billion by the week ended on December 2, 2022, making money market jittery. According to the money dealers, the PKR was depreciated by 03 ...