Government Policies

Multan District Administration Lowers Transport Fares Amidst Fuel Price Cut In response to a recent decrease in petroleum prices, the district administration of Multan has announced a 2% reduction in commercial fares for both passenger and goods transport services. This initiative aims to provide financial relief to citizens amid fluctuating fuel costs. Regional Transport Authority (RTA) Secretary Mohsin Nisar stated, …

KCCI Calls for Urgent NEPRA Hearing on K-Electric Issues The Karachi Chamber of Commerce and Industry (KCCI) has called on the National Electric Power Regulatory Authority (NEPRA) to urgently convene a hearing with all relevant stakeholders to address pressing issues related to K-Electric (KE) that are significantly impacting both industrial and domestic consumers in Karachi. In a letter addressed to …

Introduction of the Contributory Pension Fund Scheme The federal government has launched a new Contributory Pension Fund Scheme aimed at all civil employees, including those paid from Defence Estimates, who are appointed on a regular basis starting from July 1, 2024. This significant policy shift is designed to enhance the financial security of federal employees in their retirement years. Applicability …

Lahore’s Traffic Congestion: A Major Factor in Worsening Smog The Punjab Traffic Impact and Pollution Authority (TIPA) has identified 65 critical traffic choke points in Lahore that are significantly contributing to the city’s smog problem. The report highlights how traffic congestion in these areas is leading to increased air pollution, exacerbating Lahore’s environmental crisis. Key Areas of Concern: Nasir Bagh …

PTA Receives Proposals for 5G Spectrum Auction Despite Industry Concerns Five international consultants have submitted proposals to the Pakistan Telecommunication Authority (PTA) to oversee the 5G spectrum auction, anticipated to be completed within the ongoing fiscal year. However, there are concerns within the industry about whether this is the right time to roll out 5G technology in the country. In …

IMF Imposes New Conditions Following Punjab’s “Fiscally Reckless” Electricity Subsidy The International Monetary Fund (IMF) has imposed several new conditions on Pakistan’s provincial governments concerning energy subsidies and budget management. This move follows Punjab’s controversial decision to provide Rs45 to Rs90 billion in electricity subsidies over two months, which the IMF has labeled as “fiscally reckless.” Government sources revealed that …

FBR Misses August Tax Collection Target by Rs102 Billion The Federal Board of Revenue (FBR) fell short of its August 2024 tax collection target by Rs102 billion, despite taking advances from major cities. The FBR blamed import compression for the shortfall, increasing the likelihood of a mini-budget. The government had set a collection target of Rs898 billion for August, but …

Pakistan’s Inflation Rate Hits 34-Month Low Pakistan’s Consumer Price Index (CPI) rose by 9.6% year-on-year (YoY) in August 2024, marking the lowest inflation rate in 34 months. Notably, according to the Pakistan Bureau of Statistics (PBS), this represents a significant drop from the 11.1% recorded in July 2024 and, moreover, a dramatic decline from the 27.4% inflation rate in August …

The federal government reduced its inflation forecast for August to a single digit on Friday, which could compel the central bank to consider a significant interest rate cut in the next monetary policy meeting. The Ministry of Finance’s monthly economic outlook projects inflation to range between 9.5% and 10.5% in August, with a further decline anticipated to 9% to 10% …

Pakistan has relaxed its bidding rules to directly award a $2 billion contract to China for constructing a critical section of the Karakoram Highway, enhancing its strategic road connectivity with China. At the same time, the government approved a Rs78 billion incentive package for banks and exchange companies to boost foreign remittances. Direct Award of Road Contract to China The …