KARACHI: Pakistan’s consumer inflation rate slowed sharply to 0.3 percent year-on-year in April 2025, the lowest level in approximately six decades, marking a dramatic turnaround from the double-digit crises that gripped the economy a year earlier, data from the Pakistan Bureau of Statistics (PBS) showed on Friday.
Economy
Multinationals press for 17 percent GST to reverse sales slump
ISLAMABAD: Multinational companies in Pakistan are pushing the government to slash taxes and overhaul fiscal policies they blame for eroding profits, with sales declines of up to 30 percent across industries.
FBR races to close Rs3 trillion tax gap in 2 months
ISLAMABAD: The Federal Board of Revenue (FBR) is racing against time to bridge a Rs3 trillion fiscal gap over the next two months to meet a revised tax target of Rs12.332 trillion, after sluggish collections deepened risks of missing a critical benchmark renegotiated under an International Monetary Fund bailout program.
Petrol, diesel prices cut by Rs2/liter, tax grab limits relief
ISLAMABAD: The government cut petrol and diesel prices by Rs2 per liter on Wednesday, a marginal reprieve for consumers as it siphoned savings from falling global oil costs through higher taxes to shore up revenue.
FM Aurangzeb sees FY25 current account surplus, against central bank’s caution
KARACHI: Finance Minister Muhammad Aurangzeb struck an optimistic tone on the nation’s current account trajectory, projecting a surplus for the full fiscal year 2025 even as the central bank warned of a potential deficit, underscoring diverging views within the country’s economic leadership.
Stocks plunge 3.1pc as India tensions spur selloff
Pakistan’s benchmark stock index plummeted over three percent on Wednesday as investors scrambled to price in geopolitical risks after the government warned of potential Indian military strikes, escalating tensions between the nuclear-armed rivals.
CCP fines eight poultry firms Rs155 million for WhatsApp-led price-fixing cartel
ISLAMABAD: An antitrust regulator fined eight poultry hatcheries a combined Rs155 million for illegally colluding to fix prices of day-old chicks, a scheme it said worsened food inflation and exploited consumers amid economic strain.
WB commits $108 million to boost KP infrastructure, tourism
ISLAMABAD: The World Bank on Tuesday approved $108 million in additional funding for two projects in Khyber Pakhtunkhwa province, aiming to enhance rural connectivity and supercharge tourism.
IMF board to weigh Pakistan’s $1 billion tranche, $1.3 billion climate loan on May 9
KARACHI: The International Monetary Fund’s Executive Board will meet on May 9 to review Pakistan’s $7 billion bailout and consider a $1.3 billion climate resilience loan, the lender’s website showed on Tuesday.
CCI endorses govt move to shelve Indus canal project
ISLAMABAD: The Council of Common Interests (CCI) on Monday endorsed the government’s earlier decision to shelve a $2 billion Indus River canal project, following protests in Sindh province and pressure from a key coalition ally.