Gold prices in Pakistan climbed to a new record on Wednesday, following the global rally in the yellow metal. Softer US jobs data have fueled expectations of a Federal Reserve interest rate cut later this month, driving the surge in both international and local markets. Heightened global uncertainties also kept safe-haven demand strong, further fueling…
The Federal Board of Revenue (FBR) has launched strict action against officers implicated in the fraudulent regularization of smuggled vehicles, underscoring its zero-tolerance stance on corruption. According to an official press release issued Wednesday, the crackdown is part of FBR’s ongoing transformation agenda, which prioritizes transparency, accountability, and institutional integrity. The Board stressed that profiling…
ISLAMABAD: The federal government has decided to allocate an initial supplementary grant of Rs30 billion to reinstate subsidies on foreign remittances, highlighting the absence of proper consultation among stakeholders before the finance ministry removed these subsidies from the budget in June. Government sources told The Express Tribune that the finance ministry has conceded to the…
The federal government has revised fuel prices for the next fortnight. As per the Finance Ministry’s notification, petrol has been reduced by Rs7.54 per litre, bringing the new price to Rs264.61. Meanwhile, the price of diesel has gone up by Rs1.48, with the new rate set at Rs285.83 per litre. Petroleum Prices in Pakistan Today…
The federal government has decided to withdraw its involvement from the sugar sector in line with conditions set by the International Monetary Fund (IMF), according to sources from the Ministry of Industries and Production. Plans have been finalised to fully deregulate the sugar industry, restricting the government’s role to maintaining a strategic buffer stock of…
Harvard University is reportedly prepared to spend up to $500 million to resolve its dispute with the Trump administration—more than double the amount Columbia University agreed to pay last week to settle similar federal investigations. Sources cited in the report indicated that financial terms are still under negotiation. However, Harvard is resisting the inclusion of…
The federal government has announced a hike in petrol prices by over Rs5 per litre for the upcoming fortnight starting tomorrow, according to a statement by the Finance Division on Tuesday. The new price of petrol has been set at Rs272.15 per litre, reflecting an increase of Rs5.36 per litre. Meanwhile, diesel prices have surged…
The outcome, however, fell short of the planning ministry’s revised target of Rs1.1 trillion, marking an anticlimactic end to its push for full utilisation. Efforts were further complicated by the finance ministry’s restrictive tactics, including delays in fund disbursement and the partial shutdown of financial systems operated by the Accountant General of Pakistan Revenue (AGPR)….
The federal government has asked the National Electric Power Regulatory Authority (Nepra) to ensure uniform electricity tariff rate across the country, including the territory of K-Electric (KE). This will be achieved via incorporating subsidies, surcharges and inter-disco tariff rationalisation from July 1, 2025. The Power Division in its motion has referred to tariffs for Discos…
The federal government has decided to move forward with an increase in electricity prices. The Central Power Purchasing Agency (CPPA) has officially filed a petition seeking a hike in electricity tariffs. The request proposes an increase of 10 paisas per unit under the head of fuel price adjustment. The petition has been submitted to the…
