ISLAMABAD: Consumer price inflation slowed to three per cent year-on-year in August from 4.1pc in July, data from the Pakistan Bureau of Statistics (PBS) showed on Monday, though economists warned that weeks of flooding in Punjab could put food prices under renewed pressure . According to the data, Consumer Price Index-based inflation during the same month of last year (August …
ISLAMABAD: The ongoing torrential rains and surging floods have inundated large swaths of farmlands and destroyed ready-to-reap crops across Pakistan, triggering fears of a food crisis and inflation, the UN and growers warned on Monday. The raging floods struck the northeastern Punjab, the country’s largest province and food basket, last week, submerging hundreds of villages, schools and health centres, washing …
RAWALPINDI: Jamaat-i-Islami (JI) Emir Hafiz Naeemur Rehman on Friday said his party had a written agreement with the government on public demands and would keep an eye on the government to provide relief to the masses. Addressing a public meeting at the end of a 14-day-long sit-in in the garrison city, he said JI would challenge the tax system as people had …
RAWALPINDI: The Jamaat-i-Islami has called off its two-week-long sit-in after it reached an agreement with the government on the formation of a task force aimed at addressing issues related to independent power producers (IPPs), reducing electricity bills and lowering taxes on the salaried class. The announcement came in the early hours of Friday after the two sides concluded the fifth round of talks at …
ISLAMABAD: Pakistan’s central bank Governor, Jameel Ahmad, announced on Wednesday that inflation might surge in the coming months due to budgetary measures, rising energy prices, and the ongoing situation in the Middle East. However, he assured that the foreign debt repayment crisis is now over. He further stated that Pakistan’s foreign exchange reserves cover remains below the minimum threshold, standing …
ISLAMABAD: The Pakistani government has decided to review and terminate agreements with 15 Independent Power Producers (IPPs) to provide relief to the public burdened by high electricity costs, sources said on Thursday. In efforts led by Energy Minister Awais Leghari, a task force has finalised the framework to address the issue. The government plans to immediately end contracts with six …
ISLAMABAD: President Asif Ali Zardari called on Thursday for finding a win-win solution to address not only the issue of rising energy costs but of paying capacity charges to the Independent Power Producers (IPPs), conveying he was aware of the problems being faced by people and the business community due to the current energy crisis. Subsequently, the president proposed that …
ISLAMABAD: The PTI on Tuesday accused the PML-N of being responsible for inflated power bills. Addressing a press conference alongside Senator Shibli Faraz, opposition leader in the National Assembly Omar Ayub Khan alleged the ministers were preoccupied with accusing each other rather than addressing the power woes. “The PML-N made agreements involving capacity charges, causing the nation to pay twice …
ISLAMABAD: Police arrested several Jamaat-e-Islami (JI) workers ahead of their planned sit-in against inflation, taxes, and electricity bills at D-Chowk in the federal capital. In response, JI altered their strategy, directing workers to gather at H-8 Bridge while a convoy led by JI chief Hafiz Naeemur Rehman entered Islamabad. Hafiz Naeem arrived at the Islamabad Expressway sit-in to address the …
ISLAMABAD: Federal Minister for Information and Broadcasting, Attaullah Tarar accused Jamaat-e-Islami (JI) of breaching the agreement with the government about concluding their protest against inflation with a rally at Liaquat Bagh. However, the government remains open to dialogue, he added. “When it was agreed to hold the rally at Liaquat Bagh, the march towards Islamabad is incomprehensible,” he said while …