By Staff Reporter
ISLAMABAD: The power regulator has approved a hike in electricity tariffs for February 2024, passing on the higher fuel costs incurred in December 2023 to consumers.
Economy
Govt slashes ministry budgets to keep wheat subsidy for Gilgit-Baltistan
By Staff Reporter
ISLAMABAD: The government agreed on Thursday to continue subsidising wheat for the people of Gilgit-Baltistan, a northern region bordering China, after weeks of protests over a sharp increase in the price of the staple food.
Exports rise, imports fall, trade deficit shrinks in January
By Staff Reporter
ISLAMABAD: Pakistan’s exports surged 27 percent in January from a year earlier, while imports dipped 5 percent, narrowing the trade gap by 30 percent, the commerce minister said on Thursday, citing data he released on social media ahead of official statistics.
Inflation dips marginally in January, but remains well above central bank’s range
By Staff Reporter
ISLAMABAD: Pakistan’s annual consumer price inflation eased slightly to 28.3 percent in January, the Pakistan Bureau of Statistics (PBS) said on Thursday, but remained well above the central bank’s target range of 23-25 percent for the fiscal year ending in June.
Fuel prices surge by up to 5.2pc as govt cites global costs
By Staff Reporter
ISLAMABAD: The caretaker government announced a sharp increase in fuel prices on Wednesday, citing higher international costs and import premiums.
January inflation to ease slightly but stay above target: ministry
By Staff Reporter
ISLAMABAD: Pakistan’s headline inflation is expected to ease slightly in the next two months after hitting a near 30 percent in December, but will remain well above the central bank’s target range, the finance ministry said on Wednesday.
Pakistanis prefer jailed Khan to lead economy, Bloomberg survey shows
Monitoring Desk
KARACHI: Jailed ex-prime minister Imran Khan is the top pick for Pakistani finance professionals to oversee the cash-strapped economy’s recovery, according to a Bloomberg survey published this week.
Debt costs wipe out Pakistan’s revenue, widen deficit in first half
By Staff Reporter
ISLAMABAD: Pakistan’s debt servicing bill soared by 64 percent to Rs4.219 trillion in the first half of the current fiscal year, wiping out the net revenue receipts of the federal government and forcing it to borrow more to finance its spending, official data showed.
SBP holds rate at 22pc as inflation stays high, sees easing from March
By Staff Reporter
KARACHI: The central bank kept its key interest rate unchanged for a fifth straight meeting on Monday, as it expects inflation to ease from March after staying elevated for months.
OGRA denies plan to hike gas prices by 41pc
By Staff Reporter
ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) said it hasn’t recommended any increase in gas tariffs for the current fiscal year, refuting media reports that a 41 percent hike was in the works.