Tag: economy
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All hail the economic expert; PM drops British economist for Ishaq Dar
In a major plot twist, Prime Minister Shehbaz Sharif, “unimpressed” with British economist Stefan Dercon’s work on a new economic agenda, has delegated the responsibility of developing the new agenda to PML-N’s all-weather economic tsar, Ishaq Dar. Previously, the PM sought the British economist’s expertise overseeing the government’s new economic agenda for the next five…
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Inflation increases again after short respite
The weekly inflation rate in the country has risen again, according to the Bureau of Statistics. Data indicates that the inflation rate has increased by 0.30 per cent, raising the annual inflation rate to 17.96 per cent. The report shows that prices for 23 items rose, while prices for seven items fell during the week,…
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Bird strikes increase at domestic airports; PIA faces crores in losses
Bird collisions with planes at domestic airports have increased as national carrier PIA reports that the airline has incurred losses amounting to crores of rupees as a consequence of these collisions. PIA reported 38 bird strike incidents involving its planes from January to June this year. The majority of these collisions occurred at Lahore Airport,…
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No immediate relief in sight for high electricity costs, experts warn
Experts have little hope for a reduction in Pakistan’s high electricity prices. The government has turned electricity and petroleum products into revenue sources, and Independent Power Producers (IPPs) face no performance checks or contract revisions, they said, adding that it gives the generators unchecked freedom. Experts discussed the issues with DAWN at a seminar titled…
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Vegetable, fruit prices soar by 150 per cent amid strikes, sit-ins
The prices of vegetables and fruits have increased by 150 per cent as strikes by trade organisations and sit-ins by political parties in the country take hold. Roads in Balochistan have been closed since the past four days to impede the Baloch Yakjehti Council from holding a large gathering in Gwadar, hindering goods-carrying vehicles. Consequentially,…
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Consumers not receiving electricity units at basic rate: Court hears petition
The Lahore High Court has issued a written order for the previous hearing of a petition filed against the imposition of protective and non-protective tariffs on electricity consumers. The Supreme Court ordered the public prosecutor to appear with instructions at the next hearing. The written order said that according to the petitioner, tariffs related to…
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Petroleum dealers strike as OGRA directs oil companies to keep pumps open
The Oil and Gas Regulatory Authority (OGRA) and the Petroleum Division have issued a joint statement following the strike announced by the Petroleum Dealers Association, stating that petroleum products will be available nationwide. The statement directed oil marketing companies to keep pumps open and ensure continuous supply. According to the joint statement, the country has…
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Petrol pumps going on nationwide strike from July 5
The Pakistan Petroleum Dealers Association has decided to close petrol pumps across the country starting from 6 am on Friday, July 5. The strike was announced after negotiations between the Association and the government fell apart. A delegation from the Pakistan Petroleum Dealers Association held meetings with the Finance Minister, Chairman of FBR, and Chairman…
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Pakistan aims for more than $6 billion IMF bailout, targets agreement this month
Pakistan is on track to finalise a staff-level agreement with the International Monetary Fund (IMF) for a bailout exceeding $6 billion by the end of this month, announced Junior Finance Minister Ali Pervaiz Malik on Wednesday.
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No relief for babies: Heavy tax on formula milk
The budget for 2024-25 was unveiled this Wednesday, on June 12, by Finance Minister Muhammad Aurangzeb. As the government depends on the International Monetary Fund’s (IMF) bailout package, citizens were further burdened with heavy taxes as per the administration’s commitments to the lender. Milk products for infants, a necessary item for many families, will now…