Fuel price hike deepens household anxiety

LAHORE: The latest increase in petroleum prices has once again placed Pakistani household budgets under pressure, highlighting the fragile nature of economic stability in a country that relies heavily on imported fuel and gas. Petrol is now priced at Rs321.17/litre and high-speed diesel at Rs335.86litre. The adjustment follows a sharp rise in international oil prices triggered by the United States and Israel’s illegitimate attack on Iran. For many Pakistanis, the development has revived a familiar sense of uncertainty. Just when inflation had begun showing signs of easing after months of…

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‘100% local’ EV production begins

KARACHI: For the first time in Pakistan’s 77-year history, the production process of a “Made in Pakistan” car built entirely with 100% locally manufactured parts has begun. This was stated by Engineering Development Board (EDB) CEO Hammad Mansoor while speaking to The Express Tribune during an iftar dinner hosted by SMEDA Director Mashhood Khan on Thursday. He said the Made-in-Pakistan electric vehicle (EV) is expected to be introduced by June or July this year. To encourage local automotive manufacturers and promote localisation, the government is planning to reduce taxes on…

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DISCOs’ privatisation delayed again

ISLAMABAD: Pakistan has informed the International Monetary Fund (IMF) that the privatisation of three power distribution companies (DISCOs) has been delayed to the fag end of the current year due to non-resolution of some core issues as the bureaucracy lacks the capacity to undertake home-grown reforms. In a briefing to an IMF mission this week, according to sources, the Privatisation Commission said that it could not ensure the privatisation of Islamabad Electric Supply Company, Faisalabad Electric Supply Company and Gujranwala Electric Power Company by early 2026. Based on the actions…

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PM clears plan to abolish super tax

ISLAMABAD: Prime Minister Shehbaz Sharif has given a go-ahead to seek the International Monetary Fund (IMF)’s consent for abolishing the super tax and reducing the income tax rate for salaried persons by 5%, in a move that provides some solace to overly taxed segments of society. The premier on Saturday chaired a meeting on the proposals that would be pitched before the IMF next week for its endorsement to lower the tax burden. Sources said PM Sharif asked the tax authorities to further fine-tune some of the proposals with private…

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Three petrol cargoes expected on Monday: Pervaiz Ali Malik

Petroleum Minister Ali Pervaiz Malik has said that three petrol cargoes were expected to reach Pakistan by Monday, as Middle East tensions threaten fuel supplies across the country. Sindh Chief Minister (CM) Murad Ali Shah met Finance Minister Muhammad Aurangzeb and Petroleum Minister Malik to review the evolving regional situation and its potential impact on Pakistan’s energy sector and economy, according to a statement issued by the CM’s office. The meeting received a detailed briefing on rising global oil prices and the country’s current fuel reserves. Federal officials warned that…

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CJP calls for gender-responsive justice

ISLAMABAD: Chief Justice of Pakistan (CJP) Yahya Afridi has reaffirmed the judiciary’s commitment to protecting women’s rights and improving their access to justice, announcing a comprehensive gender-responsive justice reform agenda for 2026-27. In a message issued on International Women’s Day, the chief justice said women play a central role in Pakistan’s social, economic and civic life and their resilience and leadership continue to shape the country’s present and future. He said the occasion provides an opportunity to renew the constitutional commitment to ensuring dignity, justice and a safe environment for…

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PM Shehbaz orders austerity measures

ISLAMABAD: In a back-to-back meetings, Prime Minister Shehbaz Sharif on Saturday directed the ministries concerned to prepare a comprehensive plan based on austerity and savings in view of the existing global economic pressures caused by tensions in the neighbouring region. He issued the directions while chairing a review meeting on the country’s economic situation in the current global context. During the meeting, participants were briefed on the recent global tensions and their economic impact on the region. The prime minister instructed authorities to formulate a strategy focused on economic growth,…

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Dar expresses solidarity with UAE

ISLAMABAD: Deputy Prime Minister/Foreign Minister Ishaq Dar on Saturday spoke with his UAE counter Abdullah bin Zayed Al Nahyan. “The two leaders exchanged views on the evolving regional situation and underscored the importance of peace and stability,” the Foreign Office spokesperson said in a press release. The foreign minister expressed concern over the recent attacks in the region, including those on the UAE, and conveyed Pakistan’s solidarity with the UAE and its people. Dar also spoke with Iranian Foreign Minister Abbas Araghchi. During the conversation, they discussed the evolving regional…

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Pakistan, Saudi Arabia mull action to halt Iran attacks

ISLAMABAD: Pakistan and Saudi Arabia discussed joint measures to stop drone and missile attacks by Iran amid the ongoing regional war, it emerged on Saturday, in a significant diplomatic and security development. The ISPR said Chief of Defense Forces and Chief of Army Staff Field Marshal Syed Asim Munir met Saudi Defence Minister Khalid bin Salman. Field Marshal Syed Asim Munir travelled to Riyadh on Friday to reassure the Saudi leadership of Pakistan’s support during the volatile situation. During the meeting between the field marshal and the Saudi defence minister,…

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Opposition blasts ‘inflation bomb’

ISLAMABAD: Opposition parties on Saturday came down hard on the government’s decision to raise petrol and diesel prices by Rs55 per litre, denouncing it as an “inflation bomb” that would tighten the squeeze on households already struggling to keep their heads above water amid soaring living costs. Opposition leaders warned the move would set off a fresh spiral of inflation and urged the government to roll back the increase without delay. The steep hike comes as Pakistan grapples with the economic fallout of the ongoing US-Israel war on Iran, which…

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