Karachi, December 3, 2024 – Pakistan’s petroleum sales climbed to a remarkable 25-month high of 1.58 million tons in November 2024, marking a 15% year-on-year (YoY) increase, according to analysts at Arif Habib Limited. This significant growth is attributed to heightened demand driven by curbs on smuggled Iranian petroleum products and a 12-15% YoY reduction in motor spirit (MS) and high-speed diesel (HSD) prices, respectively.
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PM Shehbaz Hopes for Further Rate Cuts After Inflation Drops
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday hailed the remarkable decline in inflation to 4.9%—the lowest in six and a half years—expressing optimism that this milestone could lead to further reductions in the key policy rate by the State Bank of Pakistan (SBP). Speaking during a federal cabinet meeting, Shehbaz emphasized the importance of leveraging this development to improve the financial well-being of the general public.
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Pakistan’s Headline Inflation Drops to 4.9% in November 2024
Karachi, December 2, 2024 – Pakistan’s headline inflation, measured through the Consumer Price Index (CPI), eased significantly to 4.9% year-on-year in November 2024, reflecting improved economic stability.
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PIA Will Get Higher Bids After EASA Lifts Ban: Khawaja Asif
Sialkot, November 30, 2024 – Aviation Minister Khawaja Asif welcomed the European Commission and the European Aviation Safety Agency’s (EASA) decision to lift the suspension on Pakistan International Airlines (PIA), expressing optimism about its positive impact on the privatization process of the indebted national carrier.
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PPL Discovers Significant Gas Deposits in Sindh
Pakistan Petroleum Limited (PPL), as the operator of the Shah Bandar Block in Sujawal District, Sindh, has made a significant gas and condensate discovery at the Pateji X-1 well. This marks the second discovery in the block, highlighting its hydrocarbon potential.
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EASA Lifts Ban on PIA After Four Years
The European Union Aviation Safety Agency (EASA) has officially lifted the four-year ban on Pakistan International Airlines (PIA), marking a significant milestone for Pakistan’s aviation sector.
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FBR Grants Tax Exemption to Overseas Pakistanis on Properties
Karachi, November 29, 2024 – The Federal Board of Revenue (FBR) has announced an extension of tax exemptions for overseas Pakistanis involved in property transactions, reaffirming its commitment to facilitating expatriates.
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PSX Celebrates First Closing Above 100K in Stunning Turnaround
Karachi, November 28, 2024 – The Pakistan Stock Exchange (PSX) achieved a historic milestone on Thursday as the benchmark KSE-100 Index soared past the 100,000-point mark for the first time. This remarkable achievement came in the wake of earlier market turbulence caused by violent protests in Islamabad.
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November Inflation Projected at 4.7%, Lowest Since April 2018
Inflation in Pakistan for November 2024 is projected to fall to 4.7% year-on-year (YoY), a significant drop from October’s 7.2%, according to analysts at Arif Habib Limited. This represents the lowest inflation rate since April 2018, when it stood at 3.96%.
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Foreign Investors Withdraw $807 Million from Pakistan in 4MFY25
Karachi, November 26, 2024 – Foreign investors operating in Pakistan repatriated over $807 million under the head of profit and dividends during the first four months (July–October) of the fiscal year 2024-25, according to official data released on Tuesday.
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