New Delhi, May 17 (IANS) Pakistan’s upcoming federal budget is likely to reflect an economy constrained by prolonged stabilisation policies, weak revenue generation and growing dependence on externally driven reforms, according to a recent economic analysis that warns the country risks slipping into a low-growth equilibrium without major structural recalibration.According to the analysis by Sakib Berjees, the country’s economic model has become heavily centred on stabilisation measures, with…
Latest Petroleum Levy News & Updates
New Delhi, April 8 (IANS) Pakistan International Airlines (PIA) has scrapped most passenger discounts and cut flight frequencies as rise in jet fuel prices squeezed the air carrier’s finances, a new report has said.Pakistan-based Dawn cited a PIA spokesperson as saying that concessions are currently limited to children and infants, and all other fare discounts withdrawn.The move followed a high-level review of rising fuel costs and potential losses after Jet fuel (JP‑1) prices jumped signifi…
Islamabad, April 5 (IANS) Traders in Pakistan have warned the government of a nationwide protest if the hike in petroleum prices is not withdrawn, while also calling for an end to the ongoing crackdown on bakers (naanbai), local media reported on Sunday. While addressing a press conference at the National Press Club, All Pakistan Anjuman-i-Tajran President Ajmal Baloch stated traders cannot be called “thieves and robbers”, stressing that the business community was the backbone of Pakistan’s econ…
New Delhi, April 4 (IANS) Pakistani consumers are bearing almost half of petrol’s retail cost in the form of government levies and industry profit margins, an internal government document has revealed, coming just a day after a massive increase in the prices of both petrol and diesel was announced, a report said.According to the Geo News report, Petroleum Minister Ali Pervaiz Malik, speaking alongside Finance Minister Muhammad Aurangzeb at a press briefing, announced a Rs 137.23-per-litre rise i…
Islamabad, April 3 (IANS) The Pakistan government has announced a sharp increase in fuel prices, with petrol rising by 43 per cent and high-speed diesel (HSD) by 55 per cent, according to local media reports. The price of petrol has been raised by Pakistani Rupees (PKR) 137.23 per litre from PKR 321.17 to PKR 458.41 while price of HSD has been increased by PKR 184.49 per litre from PKR 335.86 to PKR 520.35, Pakistan’s leading daily Dawn reported. The price of kerosene has been raised by PKR 34.0…
New Delhi, March 25 (IANS) Experts have warned that Pakistan’s economy remains highly vulnerable to global shocks due to its heavy reliance on imported fuel, weak external finances, and limited fiscal space, cautioning that the situation could worsen without urgent structural reforms.However, they said that the government’s decision to sharply raise the petroleum levy on high-octane fuel is being seen as a move with some fiscal logic, as it targets a product largely used by luxury and high-p…