Pakistan is nearing a critical milestone in its ongoing economic recovery efforts, as the government expresses strong confidence in securing a staff-level agreement with the International Monetary Fund this week. The expected deal, valued at $1.2 billion, represents a key step in advancing macroeconomic stability and gaining much-needed fiscal support.

Saudi Arabia has unveiled a significant gold discovery in the Makkah region, located south of the existing Mansourah Massarah mine. Confirmed by the state-owned mining company Maaden, the newly identified high-grade gold deposits stretch across a 100-kilometer area, with drill samples revealing concentrations of up to 20.6 grams per ton.

Unity Foods Limited has commenced exports of biofuel feedstock, marking a significant milestone in its sustainability journey and strategic diversification. With export contracts valued at $30 million for the current fiscal year, the company is establishing itself as an emerging contributor to the global renewable energy market.

Pakistan is likely to experience a slight relief in fuel prices starting October 16, with petrol and diesel rates expected to decline in response to recent shifts in the international oil market. Preliminary estimates suggest a reduction of approximately Rs. 6.10 per litre for petrol, while high-speed diesel may see a smaller cut of around Rs. 0.97 per litre. Minor price drops are also

Pakistan’s information technology exports to the United Arab Emirates reached a record $376 million during the fiscal year 2024–25, marking a significant achievement in the country’s expanding footprint in the global technology sector.

The price of 24-karat gold in the local market experienced a significant increase, rising by Rs6,900 to reach Rs435,100 per tola.

In a significant step toward energy sector liberalization in Pakistan, Sui Northern Gas Pipelines Limited has approved a pipeline capacity allocation of 50 million cubic feet per day to Universal Gas Distribution Company, the country’s first private gas marketing firm. This decision not only increases UGDC’s access to pipeline infrastructure but also enables the transfer of several high-end

The Pakistani Rupee showed a slight improvement against the US Dollar in interbank trading, gaining 01 paisa to settle at Rs. 281.16, up from the previous closing rate of Rs. 281.17, based on figures released by the State Bank of Pakistan. In the open market, the US Dollar was seen at Rs. 282.65 for buying and Rs. 282.85 for selling, according to data from the Forex Association of Pakistan.

In the local bullion market, gold prices experienced a sharp decline while silver reached a historic high.

The industrial sector in Pakistan is facing significant pressure due to unexpectedly high gas bills for the current month, caused by the application of peak-hour charges rather than off-peak rates. This billing issue has raised serious concerns among business and manufacturing communities, particularly in Karachi, where many industries are already struggling with broader economic instability.