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Results for “hike” (54)

Hafsa Mustafa Posted in Politics

Govt proposes 7% salary, pension hike in FY2026-27 budget

The federal government has proposed a 7% increase in the salaries of public sector employees in the federal budget for fiscal year 2026–27, according to budget documents. In addition, the federal government has suggested a 10% increase in the minimum wage. The proposal for the salary hike was unveiled by Federal Finance Minister Muhammad Aurangzeb during his National Assembly budget speech for the Fiscal Year 2026-27. Read More…

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Alina Hashmi Posted in World

France prepares aid for airlines hit by jet fuel price hikes

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…

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Hafsa Mustafa Posted in Politics

Govt resorts to loadshedding, cautions hiking power tariffs amid Middle East crisis

The federal government has announced loadshedding of more than two hours during “peak hours” across the country, except Karachi and Hyderabad, warning of potential hike in electricity prices amid global energy crisis triggered by Middle East conflict. The major move comes as the world grapples with an energy crisis following Iran’s closure of the Strait of Hormuz in retaliation for US-Israel strikes, sending governments scrambling to conserve power. Read More…

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Alina Hashmi Posted in World

India caps monthly jet fuel price hikes for domestic flights at 25 percent

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…

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Hafsa Mustafa Posted in World

India's economic woes worsen as US tariff hike bites

The Indian rupee tumbled to a historic low on Friday, falling past the 88-per-dollar mark for the first time, as investors cited concerns over the impact of punitive US tariffs on Indian goods. Washington this week imposed an additional 25 percent tariff on Indian exports, doubling the total duties faced by India to 50 percent. The rupee slid to 88.29 against the US dollar, surpassing its previous all-time low of 87.95 hit in February. Following the Reserve Bank of India (RBI) intervention in the currency market, the rupee partially rebounded… Read More…

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Hafsa Mustafa Posted in World

Tariffs to hit Canada, Mexico, China on Saturday; US braces for price hikes  

President Donald Trump has said he would place 25 percent tariffs on imports from Canada and Mexico and 10 percent tariffs on goods from China effective on Saturday, raising the spectre of swift price increases for US consumers even though he suggested he would try to blunt the impact on oil imports. "Starting tomorrow, those tariffs will be in place," White House press secretary Karoline Leavitt told reporters earlier on Friday. "These are promises made and promises kept by the president." Read More…

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Hafsa Mustafa Posted in Politics

Pakistan to stay in IMF cycle if taxes not hiked: FinMin Aurangzeb

Federal Finance Minister Muhammad Aurangzeb warned that Pakistan will stay in the IMF cycle if taxes are not increased. In an interview with Financial Times, he said that the “upcoming IMF program will not be our last fund programme if we don’t bring our tax revenues up,” Aurangzeb maintained that he is hoping Pakistan will reach a staff-level agreement with the IMF this month, estimating the agreement to be worth $6-8 billion. Read More…

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Hafsa Mustafa Posted in Politics

Protests erupt across country against inflated power bills

Protests have erupted across the country prompted by inflated electricity bills and hike in taxes with traders demanding withdrawal of an increase in the average tariff. The boiling frustration over inflated electricity bills and recent hike in taxes exploded into a countrywide protest with traders leading from the forefront. Meanwhile, Pakistan Tehreek-e-Insaf (PTI) also joined the protests. Read More…

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Hafsa Mustafa Posted in Politics

Power tariff hiked by Rs 3.76/unit in Pakistan

The National Electric Power Regulatory Authority (NEPRA) has approved an increase of Rs 3.76 per unit in power tariff. As per details, the power regulatory authority has forwarded the decision of power tariff hike to the federal government, who will issue the formal notification. As a result of the latest hike in electricity prices, consumers will face higher electricity bills, with additional rates of Rs 1.90 per unit in June, Rs 1.93 per unit in July, and Rs 1.93 per unit in August. Read More…

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Hafsa Mustafa Posted in World

80,000 fled Rafah since Israel hiked operation: UN agency

The United Nations agency supporting Palestinian refugees said Thursday that about 80,000 people had fled Rafah in the three days since Israel intensified military operations in the south Gaza city. “Since Israeli forces military operation intensified on 6 May, around 80,000 people have fled Rafah, seeking refuge elsewhere,” UNRWA said on X, formerly Twitter, warning that “the toll on these families is unbearable. Nowhere is safe”. Read More…

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