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 International Monetary Fund (IMF) has expressed concern over a significant breach of the $7 billion programme, specifically criticizing the government’s decision to import 500,000 metric tonnes of sugar with a tax waive, an action that violates prior written commitments. The development came as sugar prices officially hit Rs200 per kilogram for the first time…
The Pakistan government is expected to revise fuel prices in the upcoming review, based on recent global oil market trends. According to initial estimates, petrol prices may rise by up to Rs6.60 per litre, while high-speed diesel (HSD) could see an increase of Rs5.27 per litre. In contrast, kerosene may become cheaper by Rs3.74 per…
A recent report has unveiled massive financial losses among Pakistan’s government institutions, with over 15 state-owned enterprises accumulating a combined deficit of Rs. 5,893.18 billion. The Ministry of Finance also disclosed that these entities face outstanding pension liabilities totaling Rs. 1,700 billion. The National Highway Authority (NHA) reported a cumulative deficit of Rs. 1,953 billion,…
Finance Minister Muhammad Aurangzeb on Wednesday reiterated the government’s commitment to a consultative policy approach during a meeting with the Pakistan Business Council (PBC) amid its leadership transition. At the Finance Division, Aurangzeb met with outgoing CEO Ehsan Malik and incoming CEO Javed Kureishi. He welcomed the new leadership and assured full support, emphasizing the…
Russia has officially recognised the Taliban-led government in Afghanistan, making it the first country to do so since the group returned to power in 2021. Russia said on Thursday that it wants to strengthen ties with Kabul, especially in security, trade, and fighting terrorism. In a statement, the Russian Foreign Ministry said Moscow saw good…
The Government of Pakistan has officially notified significant duty reductions on a wide range of imported luxury items with the commencement of the new financial year. According to the notification, major cuts have been applied to customs duties on high-end vehicles, accessories, perfumes, and bathroom fittings. For affluent consumers, the import duty on new sports…
The Pakistan Stock Exchange (PSX) extended its record-breaking rally on Wednesday, with the benchmark KSE-100 Index surpassing the 130,000-point milestone for the first time in history. The surge was fueled by encouraging inflation figures and supportive government measures in the energy sector. During the session, the KSE-100 Index reached an intraday high of 130,175.17, rising…
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…
