Category: bussines

LONDON: The trade negotiations between the United States and China will continue for a second day in London on Tuesday as both countries hope to secure a breakthrough over export controls for goods such as rare earths that have threatened a global supply chain shock and slower economic growth. Investors are hoping that the two superpowers can improve ties after the relief sparked by a preliminary trade deal agreed in Geneva last month gave way to fresh doubts after Washington accused Beijing of blocking exports that are critical to sectors including…

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After the federal government unveiled the Pakistan Economic Survey 2024-25, economic and industry experts emphasised the need for long-term structural reforms and warned against inconsistent policymaking. Their reactions came in response to the Pakistan Economic Survey 2024-25, unveiled by Minister for Finance and Revenue Muhammad Aurangzeb ahead of the federal budget. Addressing a presser at launch of economic survey — a key pre-budget document, the FinMin revealed that country’s GDP grew by 2.7% with inflation clocking in at 4.6% in the outgoing fiscal year. He noted that Pakistan’s economic recovery,…

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Top US and Chinese officials were meeting in London on Monday to try and defuse a high-stakes trade dispute that has widened from tariffs to restrictions over rare earths, threatening a global supply chain shock and slower economic growth. On the first of likely two days of talks, officials from the two superpowers were meeting at the ornate Lancaster House to try to get back on track with a preliminary agreement struck last month in Geneva that had briefly lowered the temperature between Washington and Beijing. Since then, the US…

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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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