Pakistan central bank leaves key rate unchanged in surprise move

A man counts Pakistani rupee notes at a currency exchange shop in Peshawar, Pakistan on September 12, 2023. (REUTERS/File)
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Updated 14 September 2023
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Pakistan central bank leaves key rate unchanged in surprise move

  • Policy committee cites downward trajectory of inflation from May to August as reason for keeping policy rate unchanged
  • Pakistan’s central bank last kept interest rate unchanged when it met in July, having earlier raised it by 12.25 percentage points 

KARACHI: Pakistan’s central bank kept its key interest rate unchanged at 22 percent, announcing the outcome of a policy review in a statement on Thursday that surprised analysts who were expecting an increase of at least 150 basis points.

Battling rising inflation and dwindling foreign exchange reserves, the crisis-ridden South Asian nation is trying to navigate a path to economic recovery under a caretaker government in the wake of a critical $3 billion IMF loan program, approved in July.

Reforms under the program have complicated the task of keeping price pressures in check and protecting an already weak rupee from further declines, with the country passing through a political and economic crisis.

The State Bank of Pakistan’s monetary policy committee kept the key interest rate unchanged when it last met in July, having earlier raised it by 12.25 percentage points to 22 percent since April 2022.


Pakistan Airports Authority reports ‘historic’ twin-engine aircraft landing in Lahore

Updated 13 December 2025
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Pakistan Airports Authority reports ‘historic’ twin-engine aircraft landing in Lahore

  • Twin-engine aircraft are usually larger, heavier and require better airport infrastructure, navigation systems to land
  • Pakistan Airports Authority says landing reflects its commitment to enhance aviation sector, strengthen infrastructure

ISLAMABAD: The Pakistan Airports Authority (PAA) announced on Saturday that the New General Aviation Aerodrome achieved a significant milestone when it handled the landing of a twin-engine aircraft. 

A twin-engine aircraft has two engines that provide it redundancy and increased performance compared to single-engine counterparts. These aircraft range from small twin-engine propeller planes to large commercial jetliners. The presence of multiple engines enhances safety by allowing the aircraft to continue flying in the event of an engine failure.

However, twin-engine aircraft are usually larger, heavier and more complex than single-engine planes. They require advanced airport infrastructure such as better runways, navigation systems and air traffic coordination. 

“The New General Aviation Aerodrome, Lahore achieved another significant operational milestone today with the successful landing of a twin-engine aircraft, following the recent arrival of a single-engine aircraft,” the PAA said in a statement. 

It said the flight was also boarded by Air Vice Marshal Zeeshan Saeed, the director general of the PAA. The move reflected “strong institutional confidence” in the aerodrome’s safety standards, operational capability, and overall readiness, it added. 

“The landing was conducted with exceptional precision and professionalism, demonstrating the aerodrome’s robust operational framework, technical preparedness, and effective airside coordination in accordance with contemporary aviation requirements,” the PAA said. 

It said the landing represented a “major advancement” in Pakistan’s general aviation sector and underscores the PAA’s commitment to enhancing regional aviation capacity, strengthening infrastructure and promoting excellence in aviation development.