By Staff Reporter
ISLAMABAD: Consumer price inflation slowed to 23.8 percent in November as aggressive policy tightening dampened demand, official data showed on Thursday.
Commodities
Govt keeps domestic fuel prices unchanged
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif’s government on Wednesday decided to keep domestic prices of gasoline and diesel unchanged until December 15, finance minister Ishaq Dar said.
Tobacco crop. Image courtesy of Pakistan Tobacco Board (PTB)
New MIPs set for tobacco crop of 2023
The prices, okayed by the ECC, are indicative and do not entail any financial obligation on the part of the federal government. By Staff Reporter.
SBP surprises with 100bp rate hike to tame inflation, ready for more action
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Friday raised its main interest rate by 100 basis points in a bid to crush inflation, surprising markets and becoming the first South Asian country to make such an aggressive hike in this economic cycle.
Dar says US can’t stop Pakistan from purchasing Russian oil
By Staff Reporter
ISLAMABAD: Finance Minister Ishaq Dar said the United States cannot stop Pakistan from purchasing Russian oil and it will be possible to finalise a deal with Moscow very soon.
October inflation jumps to 26.6pc as food and energy prices spiral
By Staff Reporter
ISLAMABAD: Inflation soared to 26.6 percent in October from a year earlier as food and energy prices spiraled, official figures revealed Tuesday, escalating the country’s cost-of-living crisis.
Rs1.8 trillion farm loan package unveiled
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif unveiled a loan package worth Rs1.8 trillion for farmers this year, saying it would help support the flood-hit agriculture sector of the country.
Government approves import of 300,000 tons of Russian wheat
By Staff Reporter
ISLAMABAD: Pakistan is set to import 300,000 tons of wheat at $372 a ton from Russia in a government-to-government deal as it battles to secure supplies after devastating floods in summer damaged the country’s strategic food stockpiles.
Finance ministry paints bleak economic outlook
By Staff Reporter
ISLAMABAD: The outlook for Pakistan’s economy darkened due to recent flash floods with inflationary and external sector pressures continue to hamper growth and a range of economic indicators pointing towards an impending crisis, the finance ministry said.
ECC approves import of 800,000 tons of wheat
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) on Friday approved the import of 800,000 tons of wheat through the Trading Corporation of Pakistan (TCP) as the country’s existing strategic food stockpiles are running out.