ISLAMABAD: Petrol and diesel prices in Pakistan are poised to climb by as much as Rs6.60 per litre starting July 16, 2025, industry estimates show, threatening to pile more pressure on an economy already reeling from high living cost and fiscal strain.
Economy
Pakistan rolls out AI-powered tax form for salaried to simplify filing
ISLAMABAD: The Federal Board of Revenue (FBR) has rolled out a new interactive tax return form tailored for salaried individuals, aiming to simplify a process long criticized for its complexity.
Pakistan to sell PIA assets by year-end as privatization enters final stretch
ISLAMABAD: Pakistan is accelerating plans to sell the operational assets of its struggling national carrier, Pakistan International Airlines Co. (PIA), targeting completion by the last quarter of 2025, a parliamentary panel was told on Monday.
Govt raises ex-mill sugar price 18 percent to Rs165/kg
ISLAMABAD: The government has set the ex-mill price of sugar at Rs165 per kilogram, a Rs25 hike from last June’s rate, as it grapples with skyrocketing retail costs and aims to steady a volatile market, the Ministry of National Food Security and Research said on Monday.
Finance Minister Aurangzeb defends FBR powers, calls on banks to drive growth
KARACHI: Finance Minister Muhammad Aurangzeb on Monday defended the Federal Bureau of Revenue’s (FBR) expanded powers to combat sales tax fraud, dismissing criticism that they overreach into income tax matters.
IMF praises Pakistan’s ‘strong’ performance under $7 billion loan program
ISLAMABAD: Pakistan’s efforts to stabilize its economy under a $7 billion International Monetary Fund loan program have won praise from the IMF’s country representative, Mahir Binici, who called the nation’s performance “strong so far,” a statement from the Islamabad-based Sustainable Development Policy Institute (SDPI) said.
Pakistan opens sugar import tender to tame local prices after export surge
KARACHI: State-run the Trading Corporation of Pakistan (TCP) has issued an international tender to purchase between 300,000 and 500,000 metric tons of white refined sugar, traders said on Friday, as the country scrambles to stabilize domestic prices following a sharp increase driven by a massive export boom and a production slump.
Pakistan seeks $1 billion valuation for New York’s Roosevelt Hotel in JV deal
KARACHI: Pakistan is targeting a valuation of at least $1 billion for the Roosevelt Hotel it owns in New York and is prepared to sell a minority stake in the prime Manhattan property as it searches for a redevelopment partner, Reuters reported, citing a senior Pakistani official.
Pakistan scraps duties, to tender 350,000‑tonne sugar import to stabilise market
ISLAMABAD: Pakistan plans to import 350,000 tonnes of sugar in two phases via its state-owned Trading Corporation to stabilise domestic prices, the National Food Security Ministry said Wednesday, as retail rates climb to nearly Rs200 per kilogram in some regions.
Pakistan to cut bank rewards for remittances, risks informal flows
ISLAMABAD: Pakistan is cutting rewards for banks and exchange companies that process overseas remittances, a move that risks pushing funds back to informal channels even as official inflows hit a record $38.3 billion in fiscal year 2025, the State Bank of Pakistan (SBP) told a Senate panel on Wednesday.