KARACHI: Pakistan’s annual consumer inflation slowed to 11.1% in June from 11.7% in May, official data showed on Wednesday, as lower fuel and transport costs offered households some relief even as food prices remained volatile and overall price growth stayed well above the central bank’s target range.
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World Bank flags gaps in Pakistan’s fiscal federalism, urges tax and transfer overhaul
ISLAMABAD: Pakistan has made meaningful progress toward decentralising fiscal power to its provinces since 2010 but continues to deviate from international norms in critical areas, including the formula used to divide tax revenue between the federal government and the provinces, the World Bank said in a report published on Tuesday.
Militant violence in Pakistan declines in June, though high-profile attacks continue – report
ISLAMABAD: Pakistan recorded a broad decline in militant violence and security force casualties in June even as a string of high-profile suicide bombings underscored the persistent threat facing the country, according to data published on Wednesday by an Islamabad-based research group that tracks conflict trends.
Pakistan dismisses India’s “preposterous” statement over Afghan strikes
ISLAMABAD: Pakistan on Wednesday dismissed as “baseless” and “preposterous” an Indian government statement condemning its recent air strikes against militant hideouts in eastern Afghanistan, strikes that killed at least 29 militants and that have plunged relations between Islamabad and the Taliban administration in Kabul to a new low.
Over 100 civil society figures from India, Pakistan press Modi, Sharif to revive bilateral engagement
ISLAMABAD: More than 100 civil society figures from India and Pakistan issued a joint appeal on Tuesday urging Prime Ministers Narendra Modi and Shehbaz Sharif to pursue sustained dialogue and rebuild ties between the nuclear-armed neighbours, arguing that prolonged hostility is costing both nations opportunity and stability.
Pakistan says it destroyed four Afghan drones in Balochistan, warns of ‘decisive’ retaliation
ISLAMABAD: Pakistan’s military said on Wednesday they had shot down four drones launched from Afghanistan into the southwestern province of Balochistan, and warned that any further cross-border attacks would be met with a “swift, decisive and overwhelming” military response.
PPP, JUI-F strike alliance for Azad Kashmir election
ISLAMABAD: Pakistan’s Peoples Party and Jamiat Ulema-i-Islam-Fazl agreed on Tuesday to contest general elections in Pakistan-administered Kashmir together, as authorities pressed a crackdown on a banned protest group behind weeks of unrest in the region.
Govt borrowing exceeds last year’s full-year total in 11 months – SBP
KARACHI: The government borrowed more from commercial banks in the first eleven months and change of the current fiscal year than it did in the whole of FY25, with State Bank data released on Tuesday showing a fresh burst of borrowing in the week before the fiscal year-end.
FBR tops revised tax target with record Rs13 trillion in FY26 collections
ISLAMABAD: The tax authority collected more than 13 trillion rupees ($46 billion) in the fiscal year that ended on Tuesday, surpassing a downwardly revised target and clearing a benchmark set by the International Monetary Fund, the Federal Board of Revenue said.
Pakistan sees inflation relief in FY27 as Hormuz reopening eases price pressures
ISLAMABAD: Pakistan expects inflationary pressure to ease in the 2026-27 fiscal year after peaking near 12% in June, as the reopening of the Strait of Hormuz and a broader de-escalation in the Middle East help bring down global oil prices, the finance ministry said.