ISLAMABAD: Pakistan raised pump prices for gasoline and diesel for a fifth consecutive session on Friday, the latest increase under a newly installed daily pricing mechanism that has left the government managing both a volatile Gulf oil market and an increasingly restive network of fuel retailers.
Economy
Pakistan to import 1 million tons of wheat as prices surge, shortages spread
KARACHI: Pakistan will import one million tons of wheat and release existing government stockpiles to its provinces, as the South Asian nation grapples with a supply shortfall that has driven up flour prices and squeezed household budgets.
Trump imposes 10%-12.5% tariffs on 60 trading partners, including Pakistan, over forced labour
ISLAMABAD: The Trump administration imposed fresh tariffs of 10% to 12.5% on goods from 60 trading partners on Friday, invoking allegations that these countries have failed to adequately police forced labor in their supply chains, a levy that takes effect just as a temporary global tariff lapses.
Pakistan raises petrol 4.40 rupees to 331.52, diesel 3.62 to 378.66 in second straight hike
Pakistan raised gasoline and diesel prices for a second straight day on Thursday, deepening the burden on consumers already grappling with some of the highest fuel costs in the country’s history as the fallout from renewed fighting between Iran and the US sends crude prices surging.
Korean state utility presses PM Sharif on stalled $1 billion Pakistan hydropower project – report
ISLAMABAD: A South Korean state-owned power producer has taken its grievances over two long-delayed hydropower projects in Pakistan directly to Prime Minister Shehbaz Sharif, warning that a $1 billion investment now risks being shelved after nearly a decade of preparatory work.
Pakistan business confidence rebounds, but renewed Iran-US fighting clouds outlook
KARACHI: Business confidence in Pakistan strengthened in the second quarter, with companies reporting less-negative views of current conditions and a sharply more optimistic outlook for the year ahead, according to a survey by Gallup Pakistan released on Thursday.
Pakistan tells IMF reforms are working as it presses Washington for $10 billion cash backstop
ISLAMABAD: Pakistan’s finance minister told the International Monetary Fund that the government’s austerity-driven overhaul is delivering results, capping a Washington visit in which he also pressed US officials for a $10 billion currency backstop that Treasury has yet to publicly address.
Petrol rises by Rs6.39, diesel by Rs7.83 in daily price review
Pakistan raised petrol and diesel prices for Thursday, the latest in a string of newly installed daily pricing mechanism the government rolled out this week to keep pump rates in step with volatile global crude markets amid conflict in the Persian Gulf.
Pakistan fuel dealers suspend strike after govt pledges two-week fix
ISLAMABAD: Pakistan’s petrol pump owners called off a threatened nationwide strike on Wednesday after Petroleum Minister Ali Pervaiz Malik agreed to review their grievances within two weeks, averting a shutdown that would have shuttered thousands of fuel stations across the country.
Pakistan wins first S&P upgrade to ‘B’ since 2019 on IMF reforms
KARACHI: S&P Global Ratings raised Pakistan’s long-term sovereign credit rating to B from B-, the country’s second upgrade in 12 months and its highest standing since 2019, as the South Asian nation locks in gains from an International Monetary Fund overhaul that has rebuilt foreign reserves and narrowed budget gaps.