Author: S.M. Inam

By S.M. Inam KARACHI: A set of official documents indicates that high taxes and duties on basic food items and essential commodities continue to be collected across the country, raising fresh questions about the cost of living burden on households. According to the documents, white crystalline sugar is now subject to a 20 percent customs duty along with an additional 4 percent levy, while a 18 percent sales tax remains in place on vegetable ghee, cooking oil, tea, dried milk, processed foods, electricity and gas. The filings also show that medicines are being taxed at around 1 percent sales tax,…

By S.M. Inam KARACHI: Pakistan’s weekly oil import bill has jumped sharply from around $300 million to nearly $800 million amid supply disruptions and volatility in international markets. Strait of Hormuz At the same time, illegal inflows of Iranian diesel and petrol have reportedly increased, affecting demand for domestically refined fuels and disrupting market stability. Iran Major refineries, including PARCO, Pakistan Refinery Limited, National Refinery Limited and Attock Refinery, have collectively written to the chairman of the Oil and Gas Regulatory Authority, warning that smuggled fuel is posing a serious threat to their operations and financial viability. Oil and Gas…

IMF has reportedly urged Pakistan to build a comprehensive database of tax non-filers and intensify monitoring of digital transactions to widen the country’s tax compliance net By S.M. Inam ISLAMABAD: The International Monetary Fund (IMF) has entered a decisive phase of negotiations with Pakistan over the 2026–27 federal budget, simultaneously pushing for sharper revenue mobilization on one hand and a significant expansion of social protection spending on the other. According to officials familiar with the talks, discussions have centered on a dual-track reform agenda: widening the tax base through stricter enforcement measures while strengthening cash support for low-income households under…

By S. M. Inam KARACHI: ReporterPrices of essential goods have increased across Pakistan following a recent rise in petroleum product rates, placing additional financial pressure on households already struggling with inflation. Items including ghee, cooking oil, flour, pulses, spices, vegetables, fruits and other food products have become more expensive, with citizens reporting a noticeable rise in their monthly expenses. Residents said the increase in fuel prices has directly impacted transport and supply costs, which has led to higher retail prices for daily-use commodities. Many families claimed they are now facing an additional burden of around Rs11,000 to Rs18,000 per month…

The remarks formed part of a wider economic stabilization assessment, with policymakers balancing inflation control pressures against fragile growth support needs By S.M. Inam KARACHI: The Governor of the State Bank of Pakistan, Jameel Ahmed, has said inflation in the country is expected to rise to around 7%, while signaling that price pressures would likely remain elevated in the near term before easing in the latter half of next year. Speaking at an event at the Karachi Chamber of Commerce and Industry in Karachi, he said the economy had shown a degree of resilience despite ongoing macroeconomic constraints, with growth…

Liabilities show gas sector at Rs3,442 billion, surpassing electricity’s Rs1,764 billion, highlighting deep financial stress in Pakistan’s energy system By S.M. Inam KARACHI: Pakistan’s energy sector circular debt rose to Rs5,206 billion, highlighting what officials and international lenders have long described as a persistent structural drag on the country’s fiscal and industrial stability, according to figures cited in a recent assessment linked to the International Monetary Fund. The breakdown of the liabilities showed the gas sector carrying the larger share at Rs3,442 billion, while the electricity sector accounted for Rs1,764 billion. Together, the figures pointed to a financial burden that…

By S.M. Inam KARACHI: Sindh Chief Minister Syed Murad Ali Shah has approved funding of 10 billion rupees for upgrading Karachi’s basic infrastructure, in what officials described as a renewed push to address long-standing civic and transport challenges in Pakistan’s largest city. The approval was given during a meeting held in Karachi on Wednesday, where the chief minister reviewed a portfolio of ten major development projects focused on improving traffic management, road conditions and the broader urban transport system. Chief Minister Murad Ali Shah examined proposals aimed at easing congestion across key arterial routes, repairing deteriorating road networks and strengthening…

By S.M. Inam KARACHI: Global digital assets platform CryptoSlate has reported that Pakistan has reached the same level as Israel in meeting digital asset regulatory standards, marking a notable development in the country’s crypto policy landscape. The report said Pakistan’s crypto regulatory body, PVARA, is gaining international attention, while Israel has approved a shekel-based stablecoin and Pakistan has allowed regulated crypto companies to open bank accounts. According to PVARA Chairman Bilal bin Saqib, Pakistan is advancing in technology despite being an agricultural economy, and matching Israel in the digital sector is a major achievement. He said the world is acknowledging…

By S.M.Inam KARACHI: Internet users across Pakistan may face slower speeds for about a week, particularly those using services of Pakistan Telecommunication Company Limited. The company said the disruption was expected due to repair work on a submarine cable. According to the statement, maintenance work will continue from May 11 to May 18. During this period, internet services may be affected, especially in the evening hours. The company added that the repair work would be carried out by an international cable consortium. It said the maintenance was necessary and would help improve internet quality and stability in the long term.…

By S.M. Inam ISLAMABAD/KARACHI: Finance Minister Muhammad Aurangzeb on Wednesday said Pakistan was actively pursuing diversified funding avenues, including green bonds and sukuk, to support its climate resilience and energy transition goals. Addressing a climate change conference in Islamabad, Aurangzeb said the country currently has access to around $600 to $700 million in climate finance. Emphasizing the importance of green financing, the finance minister said the government was focusing on broadening its funding base through instruments such as green bonds and locally issued green sukuk. The Finance Minister said Pakistan expected to receive around $200 million from the International Monetary…