ISLAMABAD: Pakistan is exploring offshore storage options for excess liquefied natural gas (LNG) cargoes as a gas supply glut threatens domestic producers with $378 million in annual losses, Reuters reported on Tuesday.
Economy
Pakistan inflation eases to 3.2 percent in June, matches forecasts
ISLAMABAD: Inflation in Pakistan slowed to 3.2% in June from a year earlier, down from 3.5% in May and a sharp retreat from the 12.6% recorded in June 2024, data from the Pakistan Bureau of Statistics showed Tuesday.
Pakistan reverses tariff reforms, raising doubts over trade agenda
ISLAMABAD: The government has backtracked on its tariff reform agenda, retaining regulatory duties on more than 300 import items, a decision that undermines its five-year Tariff Policy Reform plan and casts doubt on its commitment to streamlining trade rules, Dawn newspaper reported on Tuesday.
Govt raises petrol by Rs8.36, diesel by Rs10.39 as oil markets volatile
KARACHI: Pakistan raised petrol and diesel prices for the second time in a month on Monday, driven by volatile global oil markets and Middle East tensions, even as international benchmarks softened.
FBR misses tax collection target, faces uphill battle for next year
ISLAMABAD: The Federal Board of Revenue (FBR) fell short of its fiscal year 2024-25 tax target, collecting Rs11.735 trillion against an original goal of Rs12.97 trillion, according to provisional figures.
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Govt axes provincial electricity duty to cut bills, ease consumer burden
ISLAMABAD: Pakistan will eliminate a provincial tax on electricity bills starting July 1, 2025, aiming to simplify charges and lighten the load for consumers battered by soaring power costs.
KSE-100 Index gains 60pc in FY25, best two-year performer globally
KARACHI: Pakistan’s benchmark KSE-100 Index hit a record high of 125,627.31 on Monday, closing the fiscal year 2024-25 with a remarkable 60% gain in rupee terms and 57% in US dollar terms, cementing its place among the world’s top-performing markets. The index rose one percent on the final trading day, propelled by robust year-end flows and China’s rollover of $3.4 billion in commercial loans.
Pakistan expects June inflation to hold steady at 3-4 percent as economic recovery gains traction
ISLAMABAD: Pakistan’s finance ministry forecasts inflation will stay between 3% and 4% in June, signaling stability in prices as the economy shows tentative signs of recovery bolstered by manufacturing gains and a stronger external position.
World Bank appoints new country director for Pakistan
ISLAMABAD: The World Bank has appointed Bolormaa Amgaabazar as its new country director for Pakistan, effective Tuesday, succeeding Najy Benhassine, who has held the role since 2020.
Govt seeks flat Rs1.15/unit power tariff cut for most consumers from July 1
ISLAMABAD: The government has moved to reduce electricity prices for consumers nationwide starting July 1, filing a petition with the National Electric Power Regulatory Authority (Nepra) for a Rs1.15 per unit tariff reduction.