KARACHI: Pakistan’s state-run grain trader has slashed its sugar import tender by more than 80% after the International Monetary Fund raised concerns over tax exemptions on the commodity, a move exposing tensions between global financial pressures and a deepening domestic supply crisis.
Commodities
Govt raises ex-mill sugar price 18 percent to Rs165/kg
ISLAMABAD: The government has set the ex-mill price of sugar at Rs165 per kilogram, a Rs25 hike from last June’s rate, as it grapples with skyrocketing retail costs and aims to steady a volatile market, the Ministry of National Food Security and Research said on Monday.
Finance Minister Aurangzeb defends FBR powers, calls on banks to drive growth
KARACHI: Finance Minister Muhammad Aurangzeb on Monday defended the Federal Bureau of Revenue’s (FBR) expanded powers to combat sales tax fraud, dismissing criticism that they overreach into income tax matters.
Pakistan opens sugar import tender to tame local prices after export surge
KARACHI: State-run the Trading Corporation of Pakistan (TCP) has issued an international tender to purchase between 300,000 and 500,000 metric tons of white refined sugar, traders said on Friday, as the country scrambles to stabilize domestic prices following a sharp increase driven by a massive export boom and a production slump.
Pakistan scraps duties, to tender 350,000‑tonne sugar import to stabilise market
ISLAMABAD: Pakistan plans to import 350,000 tonnes of sugar in two phases via its state-owned Trading Corporation to stabilise domestic prices, the National Food Security Ministry said Wednesday, as retail rates climb to nearly Rs200 per kilogram in some regions.
Pakistan approves 500,000T sugar imports to tame skyrocketing prices after export boom
ISLAMABAD: Pakistan has approved the import of 500,000 tonnes of sugar to tackle a domestic shortage and stabilise skyrocketing prices, a move that comes after a massive export boom left local supplies depleted and consumers facing a 36 percent price hike.
Pakistan, US near trade pact to shield exports from Trump tariffs
ISLAMABAD: Pakistan and the United States have concluded a critical round of trade negotiations, reaching an understanding on an agreement that could prevent the re-imposition of a 29 percent tariff on Pakistani exports, Dawn newspaper reported on Saturday.
Pakistan appoints financial advisers for ZTBL privatisation
ISLAMABAD: The government has tapped a consortium led by Next Capital Limited as financial advisers to oversee the sale of Zarai Taraqiati Bank Limited (ZTBL), a state-owned agricultural lender, according to an official statement.
Pakistan inflation eases to 3.2 percent in June, matches forecasts
ISLAMABAD: Inflation in Pakistan slowed to 3.2% in June from a year earlier, down from 3.5% in May and a sharp retreat from the 12.6% recorded in June 2024, data from the Pakistan Bureau of Statistics showed Tuesday.
Pakistan expects June inflation to hold steady at 3-4 percent as economic recovery gains traction
ISLAMABAD: Pakistan’s finance ministry forecasts inflation will stay between 3% and 4% in June, signaling stability in prices as the economy shows tentative signs of recovery bolstered by manufacturing gains and a stronger external position.