By Staff Reporter
ISLAMABAD: Weekly SPI inflation eased to 1.32 percent from 3.63 percent, but a rise in prices from a year earlier on higher food and energy costs adds to the miseries facing common Pakistanis.
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Policy rate up 125bps: SBP ramps up inflation fight
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Thursday raised borrowing costs by 125 basis points to quell Asia’s second-fastest inflation and meet conditions for a loan from the International Monetary Fund (IMF).
Composite image by Independent Pakistan
Should Pakistan replace SBP with a currency board?
By Ahmer Kureishi
June, the final month of the last fiscal year saw wholesale inflation in Pakistan rise to a historic high of 38.9 percent per annum, giving rise to fears that the flood of consumer price inflation is about to turn into a tsunami. Already at this point, the consumer price index was at 21.32 percent per annum.
Diplomacy: FM Bhutto, US state secretary endorse ‘sustained engagement’
By Staff Reporter
ISLAMABAD: Foreign Minister (FM) Bilawal Bhutto Zardari on Wednesday invited the US to deepen trade and non-trade ties during a telephonic talk with US Secretary of State Antony Blinken, who called him to discuss matters of bilateral significance.
More rains, more deaths as floods across Pakistan set to worsen
By Staff Reporter
ISLAMABAD: The death toll from urban floods hammering many cities in Pakistan rose on Thursday as record torrential rainfall flooded streets and damaged homes and other buildings, with more rain expected during the week.
#Metoo: Another woman claims harassed by former NAB chief
By Staff Reporter
ISLAMABAD: The Public Accounts Committee (PAC) has sent for former chairman National Accountability Board (NAB) Justice (retd) Javed Iqbal after one Tayyaba Gul accused him of harassing her, it is learnt.
Development: Ecnec passes Rs395.8 billion projects
By Staff Reporter
ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) on Wednesday approved various infrastructure projects costing Rs395.8 billion, including the Hyderabad-Sukkur Motorway, a statement said on Wednesday.
Closing in on IMF loan: Provinces to ink surplus revenue MoUs shortly
By Staff Reporter
ISLAMABAD: The provinces have consented to sign a Memorandum of Understanding (MoU) to generate a revenue surplus of Rs750 billion this fiscal year to narrow the federal budget deficit to 4.9 percent of the GDP (gross domestic product) as demanded by the IMF, it is learnt.
Same Page: Govt, military launch talks with outlawed TTP
By Staff Reporter
ISLAMABAD: Parliamentary Committee on National Security (PCNS) on Tuesday formally approved the process of negotiations with the outlawed Tehreek-e-Taliban Pakistan (TTP) within the ambit of the constitution.
Tax Evasion: Tobacco sector directed to implement Track & Trace System
By Staff Reporter
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday directed cigarette manufacturers to join the Track and Trace System regime with effect from July 1, 2022, to bring the sector’s larger tax evading part in the tax net.