ISLAMABAD: The intricate process of policymaking is currently centered around a contentious issue: tobacco taxation. As the government delves into its budget-making process, a fierce debate has emerged. Policymakers are grappling with a critical decision—whether to focus on the country’s fiscal framework or to prioritize a health-driven agenda by increasing taxes on the tobacco sector.
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S&P Global sees rate cut after surprise inflation drop
By Staff Reporter
ISLAMABAD: S&P Global Market Intelligence expects the State Bank of Pakistan (SBP) to cut its policy rate by the end of June and projects a cumulative 450-basis-point reduction by the end of 2024, following a surprise drop in the monthly inflation rate.
IHC overturns convictions of Khan, Qureshi in cipher case
By Staff Reporter
ISLAMABAD: The Islamabad High Court (IHC) on Monday acquitted former Prime Minister Imran Khan and ex-Foreign Minister Shah Mahmood Qureshi of charges related to leaking state secrets, their lawyer and party said.
Inflation dips to 30-month low, signals potential rate cut
By Staff Reporter
KARACHI: Inflation cooled more than expected in May, hitting a 30-month low and coming in under government forecasts, potentially giving the central bank room to ease policy in the upcoming review.
Petrol price cut by Rs15.39 per liter, diesel by Rs7.88
By Staff Reporter
ISLAMABAD: The government has cut the price of petrol by 5.3 percent to Rs273.10 per liter for the next 15 days, the second cut in a fortnight, providing some relief to consumers reeling from inflation over the past two years.
IMF mission due this week to discuss next program
Pakistan is looking for a multi-year IMF program to help it push through a wide-ranging economic reform package to put its economy on an even keel. By Nusrat Shaheen.
Watchdog calls out beauty industry players for ugly marketing practices
The Competition Commission of Pakistan has called out a dozen companies marketing beauty products for deceptive marketing practices including greenwashing. By Nusrat Shaheen.
Telecom operators agree to block SIMs of tax evaders
By Staff Reporter
ISLAMABAD: Pakistan’s telecom operators have reached an agreement with the Federal Board of Revenue (FBR) to block mobile phone SIMs of individuals who haven’t filed their tax returns, ending a week-long standoff with the tax authorities.
Lawyers go on nationwide strike over ‘police brutality’
By Staff Reporter
ISLAMABAD: Lawyers’ associations called for a nationwide strike on Thursday, shutting down all courts, including the Supreme Court, high courts, and subordinate judiciary, to protest against “police brutality” towards lawyers in Lahore.
Former premier Khan refuses to apologise for May 9 violence
By Staff Reporter
ISLAMABAD: Former prime minister Imran Khan refused to apologise on Wednesday for the violent protests that erupted on May 9 after his brief arrest in a corruption case, saying he was unaware of the events at the time and had already condemned them.