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pakistan

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Azerbaijan’s FM in Islamabad for talks with Pakistan’s leadership

  • 2 min
Azerbaijan’s FM, Jeyhun Bayramov, arrived in Islamabad for a two-day visit to meet with Pakistan's leadership. During the trip, he will hold discussions with Prime Minister Shehbaz Sharif and Deputy Prime Minister Senator Mohammad Ishaq Dar. The visit follows an earlier agreement between the two countries on LNG importation.
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Pakistan sees big drop in LPG rates

  • 2 min
Pakistan's Oil and Gas Regulatory Authority has reduced Liquefied Petroleum Gas (LPG) rates by Rs70 to Rs180 per kilogram, effective immediately. Petrol prices are expected to decrease by Rs 5 and diesel by Rs 4 per liter from June 1, pending approval from the Ministry of Finance.
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Gold rates see increase in Pakistan

  • 2 min
Gold rates in Pakistan rose significantly, with the 24 karat gold price per tola increasing by Rs2400, while 10 grams of the same quality rose by Rs2058. These price hikes were attributed to the international market's gold price increase and a weaker dollar. Silver and platinum also experienced price fluctuations.
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Inflation rate to drop further in Pakistan

  • 2 min
The Ministry of Finance's monthly economic report forecasts a further decrease in Pakistan's inflation rate, which is anticipated to range between 13.5% and 14.5% in May. The report highlights ongoing negotiations with the IMF for a new loan program, emphasizing its importance for stable policies and increased investment. Additionally, the report notes a 6.25% increase in agricultural production and emphasizes the importance of consistent policies for economic stability. Weekly inflation, as measured by the Sensitive Price Indicator, has seen a sixth consecutive decrease, with price fluctuations observed across various items.
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Motorbikes, three wheelers’ sale slumps 6.49pc in Pakistan

  • 2 min
Motorbikes and three-wheelers sales in Pakistan dropped by 6.49% during the first 10 months of the fiscal year 2023-24 compared to the same period in 2022-23, as per the Pakistan Automobile Manufacturing Association. The sales of Honda, Suzuki, Yamaha, and Road Prince motorcycles saw significant declines, while United Auto three-wheeler sales increased.
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Pakistan’s regional exports increase 20% in 10 months

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Pakistan's exports to seven regional countries increased by 20.61% in the first ten months of the financial year 2023-24, totaling $3,655.483 million. China led with the highest exports, followed by Bangladesh and Afghanistan. Imports from the same countries showed an increase of 26.77%, with China being the top importing country.
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PM Shehbaz reiterates Pakistan’s support for Chinese stance on Taiwan

  • 2 min
Prime Minister Shehbaz Sharif reaffirmed Pakistan's support for the Chinese stance on Taiwan, emphasizing commitment to the "One China" policy. He stated that Pakistan adheres to this policy, considers Taiwan part of China, and supports the Chinese government's efforts for national reunification. Taiwan's President also expressed willingness to engage in dialogue with China.
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Pakistan’s weekly inflation falls for sixth straight week

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Weekly inflation in Pakistan decreased by 0.34% for the combined consumption group, marking the sixth consecutive week of decline. Out of 51 items surveyed, 12 saw price increases, 18 experienced decreases, and 21 remained stable. Year-on-year inflation rose by 21.31%, with notable increases in gas charges, onions, and chilies powder, and decreases in bananas and wheat flour.
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Pakistan’s electricity shortfall ‘climbs’ to 6,623 MW

  • 2 min
Electricity shortfall in Pakistan has surged to 6,623 megawatts, with major cities experiencing up to six hours of load shedding and up to eight hours in rural areas. The country’s electricity demand is 25,800 megawatts, compared to a total production of 19,177 megawatts. Pakistan’s power sector circular debt reached Rs 2,635 billion, showing a substantial increase. The IMF has urged a further electricity tariff increase to mitigate the burden on the power sector.
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Gold rates see major drop in Pakistan

  • 2 min
Gold prices in Pakistan continue to decline, with the per tola price at Rs242,000 after a Rs6,200 drop, and the 10-gram gold at Rs207476 following a decrease of Rs5,315, as reported by the Sarafa Association. International market gold price also decreased to $2355 from $2,415. Silver remained constant at Rs2,850 per tola.