Category: bussines

Pakistan Tehreek-e-Insaf (PTI) leaders have denounced the federal government’s Economic Survey 2024-25, calling the reported 2.7% GDP growth “embarrassing” and “manipulated.” “At least 30 million people in Pakistan had slipped below the poverty line… these were the very people (incumbent rulers) brought to fix the economy, yet they extinguished household stoves instead,” said PTI spokesperson Sheikh Waqas Akram while addressing a press conference in Islamabad. The criticism came soon after Finance Minister Muhammad Aurangzeb unveiled the economic survey, revealing that country’s GDP grew by 2.7% with inflation clocking in at…

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ISLAMABAD: While revealing the Pakistan Economic Survey 2024–25, Federal Finance Minister Muhammad Aurangzeb said that during the outgoing fiscal year the country witnessed a 2.7% GDP growth coupled with 4.6% inflation. The government initially targeted 3.6% growth in gross domestic product for this financial year, but lowered that to 2.7% last month. The International Monetary Fund expects growth of 2.6% this financial year and 3.6% next. The survey holds significance ahead of the annual federal budget — set to be tabled tomorrow (Tuesday) offering detailed insights into the country’s socio-economic performance…

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The Pakistan Economic Survey 2024–25, a pre-budget document offering detailed insights into the country’s socio-economic performance over the outgoing fiscal year, will be officially launched today. The survey will be presented by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, according to a statement issued by the finance ministry. The economic survey serves as a vital document ahead of the annual federal budget, offering detailed insights into the country’s socio-economic performance over the outgoing fiscal year. It highlights trends, achievements, and challenges across major sectors including agriculture, manufacturing, industry,…

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ISLAMABAD: The K-Electric consumers will get a relief of Rs2.98 per unit in June power bills as the National Electric Power Regulatory Authority (Nepra) notified a refund under the provisional monthly fuel charge adjustment (FCA). The power regulatory authority stated in its notification that the refund was decided on account of variation in fuel charges for March 2025 in the approved tariff of the power company and to be passed on to the consumers in the billing month of June 2025. The decision would provide Rs4 billion in relief to…

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The Sui Southern Gas Company (SSGC) has assured uninterrupted gas supply schedule during the three days of Eid ul Adha. In a statement on Thursday, the SSGC said the gas supply would be resumed at 5am on the first day (Saturday) of Eid. The gas supply would continue uninterrupted during the three days of Eid — Saturday, Sunday and Monday, the statement added. However, the gas loadshedding schedule would become effective again at 12am on Tuesday. The federal government has announced four-day holidays for Eid ul Adha starting from June…

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LAHORE: The Power Division clarified on Thursday that no final decision has been reached regarding proposed changes to Pakistan’s net metering policy, as consultations are still underway and multiple proposals remain under review. A spokesperson for the division said it was premature to draw conclusions about reports suggesting a reduction of Rs10 per unit for solar consumers, noting that the matter has yet to be placed before the prime minister and remains unresolved. Sources in the Ministry of Energy said that a principled decision had been taken to revise the…

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ISLAMABAD: The National Economic Council (NEC) on Wednesday gave nod to a Rs4.2 trillion ($15.1 billion) development programme for fiscal year 2025–2026 (FY26), setting aside Rs1 trillion for federal schemes and Rs2.87 trillion for provincial spending, according to a government release. A meeting of the NEC, chaired by Prime Minister Muhammad Shehbaz Sharif on Wednesday, approved the Annual Development Plan for FY26. The six-point agenda of the NEC was unanimously given the go-ahead, along with the macroeconomic framework and targets for FY26. The NEC directed relevant ministries, provinces, and government…

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Amid growing Chinese demand for hides and meat, Pakistan’s donkey population has risen by 109,000 over the past year to 6.047 million, up from 5.938 million, according to a Pakistan Bureau of Statistics (PBS) report. The PBS numbers also show significant increases in other livestock, including bovine and ovine animals. According to the document, the population of buffaloes in the country rose by nearly 1.38 million, reaching a total of 47.688 million. On the other hand, among smaller animals, sheep numbers went up by 388,000 to 33.119 million, while the…

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In a recent high-level meeting at the White House, Minister of State for Crypto and Blockchain and CEO of the Pakistan Crypto Council (PCC) Bilal Bin Saqib, met with Robert ‘Bo’ Hines, the executive director of US President Donald Trump’s Council on Digital Assets to discuss bitcoin collaboration between the two countries. The discussions between the focused on strategic approaches to digital assets and the exploration of avenues for integrating Bitcoin into broader financial frameworks, according to a press release. Trump-appointed Hines plays a crucial role in shaping national policies concerning…

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The State Bank of Pakistan (SBP) will observe a four-day closure from June 6 to 9, coinciding with Eid ul Adha public holidays, a spokesperson confirmed on Tuesday. Subsequently, all the banks, microfinance lenders and other financial institutions will also observe Eid holidays during the period. A day ago, the federal government announced four-day holidays for Eid ul Adha to be celebrated on June 7. A notification was issued by the Cabinet Division, stating that June 6, 7, 8 and 9 will be observed as public holidays on the occasion…

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