PkRevenue.com – Pakistan announced on Monday that the federal budget for the fiscal year 2024-25 will be presented in the parliament on Wednesday, June 12, 2024.
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Pakistan Decides to Export 150,000 MT Sugar
Islamabad, June 10, 2024 – Pakistan has conditionally approved the export of 150,000 metric tons of sugar, following a request from the Pakistan Sugar Mills Association (PSMA). This decision aims to balance the needs of local markets while fulfilling the demands of sugar producers.
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SBP Announces 150bps Cut in Benchmark Policy Rate to 20.5%
Karachi, June 10, 2024 – In a move aimed at providing much-needed relief to the economy, the State Bank of Pakistan (SBP) has announced a reduction in the benchmark policy rate by 150 basis points, bringing it down to 20.5 percent.
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Latest Petroleum Prices in Pakistan as of June 10, 2024
PkRevenue.com — The Government of Pakistan has updated petroleum prices effective from today, June 10, 2024, which will remain applicable until June 15, 2024.
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Pakistan Records Highest Monthly Remittances $3.2B in May 2024
PkRevenue.com – Pakistan has achieved a historic milestone by recording all-time high monthly remittances of $3.24 billion in May 2024, according to official data released on Friday by the State Bank of Pakistan (SBP).
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Pakistan and China Resolve to Protect CPEC from Detractors
Pakistan and China on Friday reaffirmed their steadfast commitment to safeguarding the China-Pakistan Economic Corridor (CPEC) from its detractors and adversaries.
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Sarim Burney Arrested on Human Trafficking Charges
PkRevenue.com – Sarim Burney, a well-known social activist and chairman of the Sarim Burney Welfare Trust, was arrested by the Anti-Human Trafficking Police upon his arrival in Karachi from the United States.
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PM Shehbaz Guarantees Chinese Investors of Facilities, Security
PkRevenue.com — Prime Minister Shehbaz Sharif on Wednesday assured Chinese investors of comprehensive facilitation and robust security for their projects and investments in Pakistan.
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Pakistan Sees Massive 27% Exports Jump YoY in May 2024
PkRevenue.com – Pakistan has registered a significant 27.08 percent increase in exports on a year-on-year (YoY) basis in May 2024, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday. Exports surged to $2.80 billion in May 2024, up from $2.20 billion in the same month of the previous year.
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PM Shehbaz Directs Drastic Cut in Petroleum Prices for June 2024
PkRevenue.com – In a decisive move to provide relief to the public, Prime Minister Shehbaz Sharif has instructed the Ministry of Finance to implement a significant reduction in petroleum prices, effective from June 1, 2024.
This directive aims to ease the financial burden on citizens and stimulate economic activity by lowering fuel costs.
According to reports from Pakistani media, Prime Minister Shehbaz Sharif has mandated a reduction in petrol prices by Rs 15.4 per liter and diesel prices by Rs 7.9 per liter. This substantial cut is part of the government’s broader strategy to tackle inflation and promote economic stability.
In a statement released by the Prime Minister’s Office, Shehbaz Sharif emphasized the government’s commitment to pro-people policies. “Our government’s initiatives have resulted in a notable decline in inflation and have stabilized the economy. The reduction in petroleum prices is another step towards alleviating the financial pressure on our citizens,” he stated.
The decision to lower fuel prices is expected to have a widespread positive impact on various sectors of the economy. Reduced transportation costs will likely decrease the cost of goods and services, thereby easing inflationary pressures and increasing disposable income for households. This measure aligns with the government’s efforts to boost economic growth and improve the standard of living for the people of Pakistan.
Economists and industry experts have lauded the decision, highlighting its potential to stimulate economic activity. Lower fuel prices can lead to increased consumer spending and investment, as businesses and individuals benefit from reduced operational and commuting costs. This move is seen as a timely intervention to support economic recovery and growth.
The public reaction to the announcement has been overwhelmingly positive, with citizens expressing relief and appreciation for the government’s efforts to address their financial concerns. Many hope that this reduction in petroleum prices will be sustained and that the government will continue to take measures that promote economic stability and growth.
Prime Minister Shehbaz Sharif’s directive to slash petroleum prices is a significant step towards economic relief and stability. By reducing the cost of fuel, the government aims to lower inflation, stimulate economic activity, and enhance the quality of life for the people of Pakistan. This pro-people policy underscores the government’s dedication to addressing the immediate needs of its citizens while fostering long-term economic growth.