Syeda Mubeena Hashmi Posted in Business
ISLAMABAD: Pakistan’s central bank faces a difficult decision on its policy rate amid rising inflation and higher global fuel prices linked to the prolonged Gulf conflict. The current rate stands at 11.5 per cent, with bankers expecting no change while some analysts foresee a 50-basis-point increase. Inflation rose to 11.1pc in August, adding pressure on the State Bank. Read More…
0 CommentsHafsa Mustafa Posted in World
US Senate Minority Leader Chuck Schumer has accused President Donald Trump of overlooking mounting economic pressures at home while pursuing another conflict in the Middle East. In a post on X, Schumer pointed to rising petrol prices and the US national debt, which has surpassed $40 trillion, while criticising Trump’s focus on the war. “Gas above $4/gal. National debt at $40 trillion. Another endless war in the Middle East,” Schumer wrote. Read More…
0 CommentsHafsa Mustafa Posted in World
Jamaat-e-Islami (JI) staged nationwide protests on Friday against inflation, higher fuel prices, the petroleum levy, and taxes, with demonstrations, sit-ins, and rallies disrupting traffic on major highways and roads in several cities. In Karachi, the party’s protest led to severe traffic jams and congestion at many places. According to the traffic police spokesperson, traffic pressure was reported on both carriageways between Lasbela Chowk and Numaish Chowrangi, on roads linking Tibet Centre with Numaish Chowrangi, and on both sides of the road between Numaish and Shahrah-e-Quaideen. Read More…
0 CommentsAlina Hashmi Posted in World
The French government is preparing to provide financial aid to airlines hit by a surge in jet fuel prices, Transport Minister Philippe Tabarot says. In a post on X, he said the government and airlines made progress in a meeting on Wednesday, including on deferrals of social security contributions, extended tax payment deadlines, and flexibility on fuel loads. “Airlines are facing a major shock. The government is fully committed to supporting them and helping them get through this difficult time,” he said. Read More…
0 CommentsAlina Hashmi Posted in World
India says it will cap monthly increases in aviation turbine fuel prices for domestic flights at 25 percent. Separately, the government said that private operators were facing constraints in the supply of auto liquified petroleum gas (LPG) due to procurement challenges, and it was encouraging dual feed autos to switch to petrol where possible. Read More…
0 CommentsHafsa Mustafa Posted in Politics
Prime Minister (PM) Shehbaz Sharif said that the inflation rate reduced to 17 percent from 39 percent during the last two years, terming it better economic indicators. In a statement issued here, the prime minister said that the recent decrease in inflation is good news for the people. “Decrease in inflation is a result of the hard work of sixteen-month previous government and the caretaker setup that continued the efforts initiated by the government,” he added. Read More…
0 CommentsAlina Hashmi Posted in World
Russian President Vladimir Putin ordered his govt to make sure retail fuel prices stabilize and urged additional measures to balance the domestic market following the introduction of a ban on gasoline and diesel exports. Putin told the cabinet it needed to act swiftly and that reviewing oil industry taxes was an option. Read More…
0 CommentsHafsa Mustafa Posted in Politics
A petition has been filed in the Lahore High Court (LHC), challenging the recent hike in prices of petroleum products by the federal government. The plea has been moved by the Judicial Activism Panel in the Lahore High Court. Read More…
0 CommentsAlina Hashmi Posted in World
According to the reports, one senior police officer has been killed in clashes with demonstrators in the southern Jordanian city of Maan. The protests over high fuel prices have spread to several cities across the kingdom. In a statement, police said the officer was shot in the head while dealing with “rioting” by a group of outlaws in the city. Read More…
0 CommentsAlina Hashmi Posted in Politics
On Monday, Prime Minister Shehbaz Sharif stated that amid the high fuel prices, cheaper energy production from the Thar coal mines project would prove a “game-changer” for the development of the entire country. Addressing the inauguration of the commercial operations of Phase-II of Sindh Engro Coal Mining Company (SECMC), the prime minister stated that the project was “high on the agenda” for the government in view of the reduced cost it would provide for power generation. Read More…
0 Comments
