By Staff Reporter
ISLAMABAD: Pakistan increased petrol prices by Rs9.99 to Rs275.60 per liter, effective Tuesday, the finance ministry announced on social media platform X.
Economy
Govt hikes electricity tariffs by as much as 20pc to stem financial bleeding
By Staff Reporter
ISLAMABAD: The government has raised electricity tariffs by as much as 20 percent in a bid to stem financial losses and stabilize its ailing power sector, a move that will hit consumers and businesses already reeling from soaring inflation.
Pakistan secures crucial $7 billion IMF loan
By Staff Reporter
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) on Friday reached a staff-level agreement for a new $7 billion loan program, providing much-needed relief for the cash-strapped government of Prime Minister Shehbaz Sharif.
PM Sharif cuts electricity tariffs by 12pc for industries to boost exports
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced a subsidy package to improve the country’s industry and exports, aimed at reducing the burden on industries and increasing competitiveness in the global market.
Moody’s warns Pakistan’s debt affordability remains weak despite budget efforts
By Staff Reporter
KARACHI: Pakistan’s budget for fiscal 2025 targets quicker fiscal consolidation, but the country’s debt affordability remains weak, posing high debt sustainability risks, rating agency Moody’s said on Thursday.
FM Aurangzeb says Pakistan on track for IMF loan deal in July
By Staff Reporter
ISLAMABAD: Finance Minister Mohammad Aurangzeb said on Thursday the country expects to reach a staff-level agreement with the International Monetary Fund (IMF) next month, paving the way for a fresh loan to address its economic woes.
Pakistan unveils budget aimed at securing IMF bailout
By Staff Reporter
ISLAMABAD: Pakistan has set an ambitious tax revenue target of Rs13 trillion for the fiscal year starting July 1, a 40 percent jump from the current year, as it seeks to bolster its case for a new bailout deal with the International Monetary Fund (IMF) worth upto $8 billion.
Illegal cigarettes erode Pakistan’s tax base, undermine health initiatives
ISLAMABAD: The intricate process of policymaking is currently centered around a contentious issue: tobacco taxation. As the government delves into its budget-making process, a fierce debate has emerged. Policymakers are grappling with a critical decision—whether to focus on the country’s fiscal framework or to prioritize a health-driven agenda by increasing taxes on the tobacco sector.
S&P Global sees rate cut after surprise inflation drop
By Staff Reporter
ISLAMABAD: S&P Global Market Intelligence expects the State Bank of Pakistan (SBP) to cut its policy rate by the end of June and projects a cumulative 450-basis-point reduction by the end of 2024, following a surprise drop in the monthly inflation rate.
Inflation dips to 30-month low, signals potential rate cut
By Staff Reporter
KARACHI: Inflation cooled more than expected in May, hitting a 30-month low and coming in under government forecasts, potentially giving the central bank room to ease policy in the upcoming review.