Tag: inflation
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Weekly inflation rises 1.28% as essential food items, fuel costs surge
In a challenging economic climate, food prices in Pakistan have surged, forcing consumers to purchase essential items at elevated costs.
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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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Fixed electricity rates increased for industrial, commercial, agricultural consumers
The government has further increased the price of electricity by five rupees 72 paise per unit, starting July 1. Fixed charges will apply to electricity consumers. For non-protected consumers, the new rates are as follows: Up to 100 units, the rate is Rs. 23.73; for 201 to 300 units, the rate is Rs. 32.98 per…
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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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Pakistanis face 25% increase in packaged milk prices amid tax implementation
The cost of packaged milk has surged dramatically, with prices soaring by Rs75 per liter or 25 per cent as the federal government’s pro-IMF budget took full effect on July 1st.
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Government officials likely to get a raise in upcoming budget 2024-2025
The federal government is currently considering salary increases for government employees in the range of 10 percent to 15 percent in the upcoming budget for 2024-2025, Geo News reported. The government intends to increase revenue generation to strike a successful deal with the International Monetary Fund (IMF) under Extended Fund Facility (EFF) at a range…
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IMF says bijli aur gas mazeed mehngi karu
The International Monetary Fund (IMF) has told the Pakistani authorities of its plan to release the next bailout package under specific conditions which Pakistan would have to fulfil like increasing revenue and curtailing government expenditure. “The government will have to hike electricity and gas tariffs in coming July and August 2024 to strike a deal…
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PTI will protest countrywide against inflation, Khan warns government
Incarcerated former prime minister and founding chairman of Pakistan Tehreek-e-Insaf (PTI) Imran Khan, has warned the government that his party will launch countrywide protests if power and gas tariffs are increased. While talking to journalists in Adiala jail, Imran said that a country’s economy can’t stabilise if a government is not formed with the votes…
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US Federal Reserve holds interest rates steady for sixth consecutive meeting
The US Federal Reserve has once again left interest rates unchanged, maintaining its current rate at 5.25 per cent to 5.5 per cent.
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SBP holds key policy rate at 22% for seventh consecutive time
The State Bank of Pakistan (SBP) announced on Monday that it is maintaining its key policy rate at 22 per cent, marking the seventh consecutive meeting with no changes to the rate.