ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) said on Wednesday the Competition Commission of Pakistan (CCP) has conditionally approved its proposed acquisition of Telenor Pakistan BV and Orion Towers (Private) Limited, paving the way for a major consolidation in the country’s telecom sector.
Economy
Inflation jumps to 5.6 percent in September, topping ministry forecast after floods fallout
ISLAMABAD: Pakistan’s headline inflation accelerated sharply to 5.6% year-on-year in September, data from the Pakistan Bureau of Statistics showed on Wednesday, dashing the finance ministry’s hopes of a contained rise after devastating floods hammered the economy.
FM Aurangzeb says IMF talks “moving in right direction”
ISLAMABAD: Talks between Pakistan and the International Monetary Fund are moving in the “right direction”, Finance Minister Muhammad Aurangzeb said on Wednesday, as a review of the country’s $7.1 billion bailout programme got under way amid shortfalls in tax collections.
Pakistan clears $500 million Eurobond on time, signals debt discipline
ISLAMABAD: Pakistan has repaid a $500 million Eurobond on schedule, signalling fiscal discipline amid improving foreign reserves and a more sustainable debt profile, according to the government.
FBR misses quarterly goal by Rs199 billion on weak sales levies
ISLAMABADA: The tax authority fell short of its first-quarter revenue goal by Rs199 billion, battered by sluggish domestic sales taxes and lower collections from utility bills amid floods and a shift to solar power.
Petrol, diesel prices raised; LPG rates reduced
ISLAMABAD: The government raised fuel prices on Tuesday, increasing petrol by Rs4.07 per litre and high-speed diesel (HSD) by Rs4.04 per litre for the next two weeks, a move set to strain household budgets and fuel inflation.
UPDATED-FBR extends income tax filing deadline by 15 days after earlier refusal
ISLAMABAD: The Federal Board of Revenue extended the deadline for filing income tax returns for the 2025 tax year by 15 days on Tuesday, reversing a stance it took just hours earlier and granting relief to taxpayers amid mounting complaints.
ADB sees Pakistan growth holding at 3 percent in FY2026 on reforms, but floods pose risks
ISLAMABAD: Pakistan’s economy is set to expand by 3.0% in the fiscal year to June 2026, helped along by deeper macroeconomic stability and reforms that tackle longstanding weaknesses, the Asian Development Bank said on Tuesday, though recent floods could crimp the momentum.
Pakistan sees September inflation holding at 3.5–4.5 percent despite flood disruptions
ISLAMABAD: Pakistan’s economy has maintained stability and shown signs of growth in the first two months of the fiscal year despite severe flooding, with consumer inflation projected to remain in a manageable 3.5-4.5% range in September, the finance ministry said on Tuesday.
Fuel prices set to rise again as global oil costs fluctuate
ISLAMABAD: The government is expected to raise the prices of petrol and high-speed diesel (HSD) by Rs2-3 per litre starting Wednesday for the first half of October, driven by volatility in global oil markets, according to official estimates.