State-owned Oil and Gas Development Company Limited (OGDCL) has announced a new oil and gas discovery in Sanghar district, Sindh, marking another addition to Pakistan’s domestic energy resources. Read More: OGDCL makes 19 oil, gas discoveries since 2023 The discovery was made at the Bobi Deep-1 exploratory well located within the Bobi and Dhamraki Mining Lease […]
Pakistan economy
Govt proposes Rs1.1 trillion development budget for FY27
ISLAMABAD: The federal government has proposed a development budget exceeding Rs1.1 trillion for the fiscal year 2026-27 (FY27), with significant allocations earmarked for water resources, power projects, transport infrastructure and education initiatives. Read More: Punjab likely to unveil tax-free budget for next fiscal year According to budget documents, Rs754.9 billion has been proposed under the federal […]
Pakistan’s consumer inflation rises to 11.7pc in May
ISLAMABAD: Pakistan’s consumer inflation accelerated to 11.7 per cent year-on-year in May, increasing pressure on household budgets as higher energy costs, transport charges and food prices continued to drive up the cost of living across Pakistan. Read More: Pakistan’s inflation climbs to 23-month high in May According to data released by the Pakistan Bureau of Statistics, inflation […]
Ahsan Iqbal says economy is recovering
ISLAMABAD: Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, has said Pakistan’s economy is on the path to recovery, while emphasizing the need to prioritize and complete ongoing development projects to support sustainable growth. Read More: Ahsan Iqbal says Pakistan saved region, slams India Speaking at the Annual Plan Coordination Committee meeting for the 2026-27 […]
Provinces propose record Rs3.14 trillion development budget for 2026-27
Pakistan’s four provinces have collectively proposed a development budget of Rs3,138 billion for the fiscal year 2026-27, reflecting an increase of Rs76 billion compared to the current year. The plan highlights a continued push toward infrastructure expansion, public services improvement, and broader regional development priorities. According to budget documents, provincial governments will finance most of […]
Punjab likely to unveil tax-free budget for next fiscal year
The Punjab government is likely to present a tax-free budget for the upcoming fiscal year, according to sources in the provincial finance department, with a focus on sustaining subsidies, development spending and public welfare initiatives. Read More: Punjab unveils Rs5.3 trillion budget with 10% pay raise Sources said tax revenue for the next financial year is expected to […]
Govt slashes petrol, diesel prices by Rs22 per litre
The federal government has announced a major reduction in petroleum prices, lowering both petrol and high-speed diesel rates by Rs22 per litre in a move aimed at providing relief to consumers during Eid holidays. Read More: Petrol and diesel prices may drop after global oil decline According to a statement issued by the Prime Minister’s Office, the price […]
FPCCI unveils shadow plan targeting trillion rupee economy shift
The Federation of Pakistan Chambers of Commerce and Industry has released a set of four independent “shadow” policy reports proposing a major overhaul of Pakistan’s economic direction aimed at faster growth and fiscal stability. The documents outline an alternative framework focused on expanding exports, improving tax collection, and reducing fiscal pressure on the state. Business […]
Shadow budget issued with support of FPCCI, signature of Ahmed Nawaz Sukhera
ISLAMABAD: An economic policy and business development think tank has presented its proposed shadow budget for the fiscal year 2026-27, recommending wide-ranging tax reforms and measures aimed at reducing the cost of doing business in Pakistan. The shadow budget was issued with the support of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) […]
Circular debt in power and gas sectors rises to Rs5.1 trillion
ISLAMABAD: Pakistan’s combined circular debt in the power and gas sectors has surged to Rs5.1 trillion, according to disclosures made during a meeting of the National Assembly Standing Committee on Finance. Officials informed the committee that the total circular debt has significantly increased from Rs3.5 trillion recorded last year, highlighting growing financial pressures on the […]