Islamabad, Feb 23: Ramazan approaching, the federal government has struggled to control surging sugar prices, as rates soar to as high as Rs. 165 per kg in multiple cities. Despite repeated assurances of price stability, market forces and hoarding have led to a significant spike, putting an additional financial strain on consumers ahead of the holy month. According to fresh data from the Pakistan Bureau of Statistics (PBS), sugar is being sold at varying rates across different cities, with Islamabad and Peshawar recording the highest price of Rs. 165 per kg. In major urban centers like Rawalpindi, Karachi, and Larkana,…
Author: Iqra Khan
Islamabad, Feb 23: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has underscored the vital role of the private sector in driving Pakistan’s economic recovery, stating that while the country is on the right trajectory, sustainable growth hinges on business sector participation. Speaking at the third All Pakistan Chambers Presidents Conference at the Faisalabad Chamber of Commerce and Industry (FCCI), he reassured business leaders of the government’s commitment to economic reforms and inclusive policymaking ahead of the upcoming budget. Acknowledging the influence of the International Monetary Fund (IMF) program on current economic policies, Aurangzeb emphasized the need for transparency…
Islamabad, Feb 23: Pakistan’s circular debt reached Rs2.384 trillion by the end of December 2024, highlighting persistent inefficiencies in the power sector despite multiple tariff adjustments. A Power Division report revealed that sectoral losses amounted to Rs158 billion in the first half of the fiscal year, with Hyderabad Electricity Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO) alone accounting for 52% of the total losses. Governance issues within these companies remain a major concern, as their boards have remained unchanged due to political arrangements between the federal government and its coalition partner, the Pakistan Peoples Party (PPP). Despite the…
Islamabad, Feb 23: Pakistan’s cement industry has witnessed a significant surge in exports, recording a 24.85% increase during the first seven months of the fiscal year 2024-25. According to data released by the Pakistan Bureau of Statistics (PBS), cement exports rose to $188.091 million between July and January. Compared to $150.653 million during the same period in the previous fiscal year. The sharp rise underscores growing international demand for Pakistani cement, strengthening the sector’s contribution to the country’s overall exports. In terms of volume, the exports saw an even greater increase, with a 35.34% jump from 3.89 million metric tons…
Islamabad, Feb 23: The Association of Builders and Developers (ABAD) North Region has expressed confidence that the federal government is poised to introduce a revival package for the construction sector, aimed at addressing key challenges and fostering long-term development. The anticipated measures are expected to provide much-needed relief to builders and developers, encouraging investment and revitalizing economic activity in the housing and real estate sectors. ABAD North Chairman Sheikh Muhammad Nabeel lauded the efforts of Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, and Housing Minister Riaz Hussain Pirzada in prioritizing the revival of Pakistan’s housing industry. He welcomed the…
Islamabad, Feb 23: In a move to enhance data-driven learning and informed decision-making among the youth, Pakistan is set to establish its first-ever Data Park. The initiative was discussed in a high-level meeting chaired by Minister for Planning. Development & Special Initiatives Ahsan Iqbal, with key officials from the Pakistan Bureau of Statistics (PBS), including Chief Statistician Dr. Naeem Uz Zafar and Member Muhammad Sarwar Gondal, extending their support. The proposed Data Park aims to serve as a hub for students, researchers, and policymakers by providing real-time socio-economic data in an interactive digital environment. Equipped with advanced features such as…
Islamabad, Feb 23: The federal government is planning to introduce a carbon levy in the upcoming Budget 2025-26 and will seek permission from the International Monetary Fund (IMF) during an upcoming round of negotiations. According to well-informed sources, initial discussions on the new tax regime will begin next week, as an IMF delegation arrives today for technical talks starting Monday. Key Areas of Discussion The IMF team will hold negotiations with federal and provincial representatives from February 24 to 28, focusing on: Carbon levy implementation Green budgeting Climate spending tracking & reporting Electric vehicle (EV) policies Subsidy frameworks The IMF…
Islamabad, Feb 23: The Port Qasim Authority (PQA) has denied allegations of irregularities in its land allotment process, particularly regarding a controversial 500-acre land deal that has come under Senate scrutiny. The clarification follows discussions in the Senate Standing Committee on Maritime Affairs on February 19, where concerns were raised over possible financial mismanagement. In an official press statement, PQA stated that the land was originally allotted through a competitive bidding process in 2010, based on a procedure initiated in 2005. However, the successful bidder failed to make the required payments, leading to a cancellation notice in 2012. PQA further…
Islamabad, Feb 23: The Indian cricket team is facing a major setback ahead of their blockbuster ICC Champions Trophy 2025 clash against Pakistan, as concerns grow over the availability of star wicketkeeper-batter Rishabh Pant. Reports suggest that Pant is likely to miss the crucial match due to health issues, casting doubt over India’s playing XI. Pant, who had already missed India’s tournament opener against Bangladesh on Thursday, as well as the recent home ODI series against England, has been struggling with his fitness. His absence from the team huddle during a recent training session in Dubai has further fueled speculation…
Islamabad, Feb 23: The International Cricket Council (ICC) is facing sharp criticism following yet another controversial blunder during the ongoing ICC Champions Trophy 2025 in Pakistan. In an embarrassing mix-up, India’s national anthem was mistakenly played before the highly anticipated Australia vs. England clash at Gaddafi Stadium, Lahore. The Pakistan Cricket Board (PCB) has formally reached out to the ICC, demanding an explanation for the error, which has raised serious concerns about the governing body’s management and oversight of the tournament. According to sources, the anthem playlist was prepared by the ICC, and the accidental inclusion of India’s anthem especially…
