Pakistan signs $1.2 billion deferred payment oil import agreement with Saudi Arabia
Pakistan has signed an agreement with the Saudi Fund for Development (SFD) to import Saudi oil on deferred payment for one year, totaling $1.2 billion,...
How Tech Startups are Shaping the Future of Karachi
Karachi, the bustling metropolis of Pakistan, has long been known for its vibrant culture, economic significance, and diverse population. In recent years, however, a new...
Pakistan may boost IT services exports to $10 billion with strategic interventions
Pakistan could potentially boost its IT services exports to $10 billion in the near future, according to a recent study by the Pakistan Institute of...
Pakistan lifts minimum export price on rice amid global market shifts
Pakistan has removed the minimum export price (MEP) on all rice varieties. This decision follows India’s recent move to lift its MEP on rice, signaling...
Elevate raises $5 million to offer US based $ accounts in Pakistan
KARACHI: Elevate, a fintech, based in London and Dubai, has secured financing of $5 million to expand further into South Asia. They’ve raised a total...
Tight gas discovery in Sindh, Pakistan by OGDCL
In a significant development for Pakistan’s energy sector, the Oil & Gas Development Company Limited (OGDCL) has announced a new tight gas discovery at its...
Petroleum sales slump in Pakistan amid high prices and low demand
ISLAMABAD: The sales of petroleum products in Pakistan witnessed a sharp decline of 7% year-on-year (YoY) in December 2023, reaching 1.24 million tons, according to...
Pakistan’s textile exports decline by 7% in November 2023
ISLAMABAD: Pakistan’s textile exports fell by 7% year-on-year in November 2023, according to the latest data released by the Pakistan Bureau of Statistics (IPBS). The...
IMF and Pakistan Reach Agreement on First Review of Stand-By Arrangement, Unlocking Access to $700 Million
ISLAMABAD: The International Monetary Fund (IMF) and Pakistani authorities have reached a staff-level agreement on the first review under Pakistan’s Stand-By Arrangement (SBA). The agreement,...
Pakistan to Introduce Digital Currency in the Future
Pakistan is on its way to introducing a digital currency, similar to cryptocurrencies like Bitcoin and Ethereum. This was announced by Shoukat Bizinjo, Additional Director,...
OPINION: The Economic and Social Costs of Political Instability in Pakistan
Political agitation and riots can have a negative impact on the economy and lifestyle of a country like Pakistan in various ways. Some of the...
Oracle Power signs MoU with U.S. hydrogen fuel cell company, Nuvera
LONDON, UK: Oracle Power PLC has signed a non-binding Memorandum of Understanding (MoU) with Nuvera Fuel Cells LLC to jointly explore opportunities for de-carbonised heavy-duty...