Browse older Business stories through permanent, crawlable archive pages.
President Trump touted a “massive” US–Pakistan oil venture after meetings in Washington. Experts say there is no confirmed evidence of large untapped reserves. Pakistan still imports over 80% of its oil and produces modest volumes at home. Islamabad is auctioning 71 exploration blocks and courting US bidders. Analysts warn the politics outpaces geology—and any payoff would take decades.
PM Shehbaz urged the IMF to consider flood-related losses in its next review. He cited progress on IMF targets but said disasters have strained recovery. Kristalina Georgieva stressed the need for robust damage assessments. The PM also briefed the World Bank chief on Pakistan’s reform agenda.
Pakistan is closing a Rs1.275tr bank facility to retire legacy power-sector debt. Repayments will be funded by the existing Rs3.23/unit surcharge on electricity bills. Banks will lend at roughly KIBOR–0.90, payable over six years in 24 quarters. Funds will clear liabilities of PHL and IPPs to ease sector liquidity. Officials say circular debt should drop sharply if reforms hold; no new levy planned. The loan is extended to CPPA-G without a sovereign guarantee, backed by receivables.
IMF’s review mission begins a two-week visit to assess programme performance. Technical talks precede policy meetings led by Finance Minister Aurangzeb. Climate financing and RSF progress will be part of the agenda. Pakistan aims to secure a $1bn tranche without resorting to a mini-budget.
CII declares bank withholding tax on withdrawals/transfers un-Islamic. Silver must remain part of Diyat benchmarks alongside gold and camels. Guidance urges avoiding pork-based insulin where halal options exist. Council flags reservations over a recent Supreme Court ruling on iddat.
24-karat gold jumped Rs5,100 to Rs398,800 per tola. 10g rate rose Rs4,372 to Rs341,906; global gold hit $3,770/oz. Silver advanced to Rs4,637 per tola and Rs3,975 per 10g. Dealers expect continued volatility amid global and currency factors.
