Many factories in Pakistan are closing, worrying business leaders. They say if the government doesn’t act fast, it could harm the economy. The two-tier tax system is a big problem, making it hard for factories to operate. Some factories fake production in certain areas to avoid taxes. Business leaders want the government to make better…
Recent protests by farmers in Pakistan have brought attention to the agricultural crisis, impacting the country’s economy and workforce. Triggered by policy changes and market conditions, the unrest stems from issues such as slashed procurement targets and low market prices for wheat. Government responses and accusations of corruption further complicate the situation. The crisis has…
In good news for households across Pakistan, the prices of ghee and cooking oil have significantly dropped over the past month. Consumers can now buy Brand A and Brand B cooking oil and ghee at much lower prices, according to the dealers association. Brand A cooking oil is now Rs 75 cheaper per liter, selling…
In Pakistan, the prices of essential items have gone down according to the latest report by the Pakistan Bureau of Statistics (PBS). The Sensitive Price Index (SPI) for the week ending on May 9, 2024, has dropped by 1.39 percent. This decrease is mainly due to lower prices of onions, chicken, wheat flour, LPG, bananas,…
Next week, it’s anticipated that the prices of MS petrol and High-Speed Diesel (HSD) will go down because international oil prices have fallen by more than $6 per barrel recently. On May 16, 2024, the federal government is expected to lower the price of petrol by Rs. 12 per liter and diesel by Rs. 9.7…
Image credit: Aaliyan Abbas
Starting May 16, petroleum product prices are expected to decrease further, providing relief to consumers. Petrol prices are anticipated to drop by Rs 12 per litre, aligning with a global trend of falling gasoline prices. Globally, gasoline prices have seen a decline of 6.32 dollars per barrel, reaching around $99.93 per barrel. Similarly, diesel prices…
Punjab’s Finance Minister, Mujtaba Shujaur Rehman, highlights the pressing need to document the economy. He states that the provincial government will make changes to the Punjab Sales Tax Act to make its revenue authority more effective. Additionally, the government plans to update tax rates set by the Board of Revenue, which have remained unchanged for…
Minister for Science and Technology, Shibli Faraz, revealed the Pakistan Tehreek-e-Insaf (PTI) government’s aim to regulate cryptocurrency within Pakistan. He shared this during the inaugural Pakistan Blockchain Summit 2022 in Islamabad. Faraz highlighted that the State Bank of Pakistan, Securities and Exchange Commission, and Finance Division are actively collaborating on this initiative, as per Radio…
Prime Minister Shehbaz Sharif stressed the importance of workers in the economy, urging the wealthy and business leaders to prioritize their well-being. Speaking on International Labour Day, he acknowledged Pakistan’s economic challenges but assured collective efforts to improve conditions. Highlighting efforts to combat corruption and foster economic growth, he emphasized the need for fairness and…
Abdul Sami Khan, speaking at a press conference in Karachi, expressed grave concerns about the plan to deregulate fuel prices. He emphasized that if this were to happen, it would lead to significant harm to both the fuel industry and the general public, who might face difficulties accessing quality fuel. According to Khan, the deregulation…