Pakistan International Airlines (PIA) has urgently appealed to the government for financial assistance, seeking relaxation from the State Bank of Pakistan (SBP) to arrange a loan of Rs15 billion from commercial banks. Facing operational challenges and potential risks of suspension, the Civil Aviation Authority (CAA) has already granted a Rs5 billion facility to keep … Read more
Oil prices are set to end 2023 about 10% lower after two years of gains as geopolitical concerns, production cuts and central bank measures to rein in inflation triggered wild fluctuations in prices. On Friday, oil climbed after falling 3% the previous day as more shipping firms prepared to transit the Red Sea route. … Read more
Portal to serve as one-window operation for customers to register their complaints against banks, MFBs and DFIs State Bank of Pakistan (SBP) building. — AFP/File In a move aimed at facilitating the customers via an expedited redressal of complaints, the State Bank of Pakistan (SBP) Friday launched its “Sunwai” customer service portal and mobile … Read more
ISLAMABAD: The Gilgit-Baltistan Council has embarked on an extensive overhaul within its organisational structure, focusing on cost reduction and operational efficiency. The initiative has seen the repatriation of 45 officers and staff members, previously on deputation from diverse departments, back to their original offices. Simultaneously, the council has taken the bold step of abolishing … Read more
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) while accepting the request of power division has increased the price of electricity by Rs 1.72 per unit for the electricity consumers of K-Electric (KE). NEPRA approved the government’s request to increase the price of electricity for the power consumers of KE by Rs 1.72 per … Read more
ISLAMABAD: The Caretaker Minister for National Food Security and Research, Dr. Kausar Abdullah Malik, affirmed Pakistan’s substantial wheat supply, indicating the country’s readiness to export key food items like wheat and rice. He stated that there would be no need to import wheat as sufficient stock will be available following the bumper crop in … Read more
Major decreases were observed in the prices of potatoes, tomatoes, vegetable ghee, cooking oil, eggs etc People buy dry fruits at a market in Karachi, Pakistan February 1, 2023. — Reuters Weekly inflation rises by 0.37% in week ending Dec 28. SPI increases to 43.25% YoY as compared to 42.6% last week. Major decreases observed in … Read more
The picture shows a worker at a gas station fuelling a motorcycle tank. — APP/File Petrol price to hold steady in next review. Diesel rate to increase from Januray 1. Next fortnightly review due tomorrow. KARACHI: The prices of petroleum products will not see any major change with diesel rates expected to go up … Read more
ISLAMABAD: The year 2023 brought unprecedented pain to consumers as energy prices went sky high with no imminent relief in sight. The government jacked up prices of electricity, oil and gas to historic highs, fuelling a wave of inflation that sent prices of goods, particularly food items, soaring. To add to the woes, the … Read more
Official data from the Pakistan Bureau of Statistics reveals that short-term inflation for the week ending on December 28 has increased to 43.25%, primarily influenced by a significant rise in gas rates. This marks the seventh consecutive week with weekly inflation above 41%. On an annual basis, notable increases were observed in the prices … Read more