He Lifeng, a senior Chinese official, met with Saudi Arabia’s Minister of Finance, Mohammed bin Abdullah Al-Jadaan, on Monday. The high-level talks focused on bolstering China-Saudi Arabia economic and trade relations, enhancing global economic governance, and addressing other pertinent issues.
(more…)Author: Mrs. Anjum Shahnawaz
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PMD Issues High Temperatures Warning for Sindh and Punjab
Karachi, May 20, 2024 – The Pakistan Meteorological Department (PMD) issued a warning on Monday, alerting residents of Sindh and Punjab to expect high temperatures from Tuesday, May 21, 2024.
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Pakistan Mourns Death of Iranian President in Helicopter Crash
Pakistan on Monday expressed profound grief over the tragic death of Iranian President Seyyed Ebrahim Raisi, who perished in a helicopter crash. The accident also claimed the life of Iranian Foreign Minister Hossein Amir-Abdollahian and several other officials, casting a pall of sorrow over both nations.
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Pakistan Prays for Safety of Iranian President in Helicopter Incident
Islamabad, Pakistan – On Sunday, Pakistan’s leadership and citizens united in prayer for the safety of Iranian President Seyed Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian following a helicopter incident.
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Sindh Experiences Intense Hot Weather
On Sunday, several districts in the Sindh province endured extreme hot weather, with temperatures soaring to unprecedented levels, according to the Pakistan Meteorological Department (PMD).
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Southern Pakistan to experience very hot weather on May 19
Karachi, May 18, 2024 – The Pakistan Meteorological Department (PMD) has forecasted extremely hot weather conditions for southern parts of the country on Sunday, May 19, 2024.
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Weekly Inflation Falls by 1.06% Following Petroleum Price Cut
Islamabad, May 17, 2024 – Weekly inflation, as measured by the Sensitive Price Indicator (SPI), has witnessed a notable decline of 1.06% following a significant cut in petroleum prices, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.
The SPI for the week ending May 16, 2024, decreased by 1.06%, reflecting a downward trend in prices across various essential commodities. Major decreases were observed in the prices of tomatoes (31.18%), onions (21.84%), garlic (7.76%), petrol (5.32%), wheat flour, and LPG (liquefied petroleum gas) (3.66% each), diesel (2.79%), rice basmati broken (1.52%), chilies powder (1.31%), pulse masoor (1.08%), and bananas (0.87%).
Conversely, some items witnessed price increases during the week, including cooked daal (1.96%), shirting fabric (1.74%), potatoes (1.46%), beef (1.11%), mutton (1.04%), pulse gram (1.00%), energy saver bulbs, long cloth, and eggs (0.73% each), cooked beef (0.50%), and chicken (0.30%).
Out of 51 items monitored, prices of 20 items increased (39.22%), 16 items decreased (31.37%), and 15 items remained stable (29.41%) during the week.
On a year-on-year basis, the data reveals a mixed trend, with some items witnessing significant increases while others experienced decreases. Notable year-on-year increases include gas charges for Q1 (570.00%), onions (87.82%), chilies powder (69.71%), garlic (61.86%), and tomatoes (35.65%). Conversely, significant decreases were observed in the prices of bananas (39.37%), wheat flour (29.85%), chicken (25.62%), cooking oil (5-liter) (19.65%), vegetable ghee (1 kg and 2.5 kg) (16.42% and 16.07% respectively), mustard oil (12.84%), LPG (11.11%), and eggs (9.32%).
The data reflects the impact of fluctuating commodity prices on consumer inflation, highlighting the importance of monitoring and managing price movements to ensure affordability and stability in the cost of living for citizens.
The decline in weekly inflation following the reduction in petroleum prices signals a positive development, providing relief to consumers and easing inflationary pressures in the economy. However, continued vigilance and effective policy measures are necessary to sustain this downward trajectory and promote economic stability.
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FBR Engages Traders to Address Concerns on Tajir Dost Scheme
Islamabad, May 17, 2024 – The Federal Board of Revenue (FBR) took proactive steps on Friday by convening a crucial meeting with representatives from various trade unions across the country to address concerns raised by the trade and business community regarding the implementation of the Tajir Dost Scheme.
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PIC Directs FBR to Disclose Information on Tax Evasion
The Pakistan Information Commission (PIC) has directed the Federal Board of Revenue (FBR) to disclose detailed information regarding tax evasion investigations involving prominent enterprises.
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Very Hot Weather Expected in Pakistan on May 18
Islamabad, May 17, 2024 – The Pakistan Meteorological Department (PMD) has forecasted extremely hot weather across most parts of the country for Saturday, May 18, 2024.
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