By Staff Reporter ISLAMABAD: The government threatened strict action against hoarding and overpricing of essential commodities on Friday, a week after wheat flour led short-term
Economy
Pakistan to chair IMF, World Bank governors for first time since 1953
ISLAMABAD: Pakistan will chair the boards of governors of the International Monetary Fund and the World Bank Group next year, its first turn in the post since 1953, the government said on Friday.
Petrol gets second straight price cut, diesel remains unchanged
ISLAMABAD: The government cut petrol prices for a second straight day, lowering the fuel by 3.93 rupees a liter to 386.30 rupees while leaving diesel unchanged at 396.96 rupees, even as crude oil climbed back toward $110 a barrel.
Pakistan weighs $1.5 billion World Bank-backed financing to lower costs
ISLAMABAD: Pakistan is exploring a financing of about $1.5 billion backed by World Bank Group guarantees, part of a push to broaden its funding base after its return to international bond markets, the Finance Division said on Friday.
Current account deficit widens to $874m in first quarter, September gap hits $356m
KARACHI: Pakistan’s current-account deficit widened to $874 million in the three months through September, central bank data showed, with imports growing almost twice as fast as exports.
Power bills to rise by Rs2.56 a unit in November after fuel cost surge
ISLAMABAD: Electricity consumers will face an increase of Rs2.56 per unit in their November bills, the government has said, while claiming the rise would have been far steeper without targeted load shedding.
Pakistan presses Islamic trade lender to cut borrowing costs
ISLAMABAD: Pakistan has asked the trade-finance arm of the Islamic Development Bank Group to lower the cost of its lending, arguing that borrowing terms should reflect the country’s stronger position in the markets.
Petrol cheaper, diesel dearer in daily fuel shuffle
ISLAMABAD: The government cut the price of petrol by Rs3.63 a litre on Thursday but raised diesel by 31 paisa, leaving both fuels far above their level before the war between the US and Iran began in February.
FBR gives taxpayers until 31 October to file returns in second extension of the year
ISLAMABAD: The Federal Board of Revenue has given taxpayers until 31 October to file their 2026 income tax returns, the second extension this year after traders and tax lawyers complained of delays and technical failures.
Senate panel says power utility sale needs provincial sign-off
By Staff Reporter ISLAMABAD: A Senate panel said the planned sale of state-run power distribution companies requires fresh approval from the Council of Common Interests,