The government reduced petrol and diesel prices on Wednesday by Rs2 per litre each for the current fortnight ending May 15. In a late-night announcement, the Ministry of Finance said Ogra had reviewed and adjusted prices for petroleum products in view of the fluctuations in the international market. The ex-depot price of high-speed diesel (HSD) was decreased by Rs2 per litre (2 per cent) to
Says commodity trade may offset tariff disparities • Opposes further increase in taxes on salaried, business classes • Efforts underway to simplify tax return forms KARACHI: Minister for Finance Muhammad Aurangzeb on Wednesday expressed confidence that the global situation following the imposition of US tariffs is manageable for Pakistan. The minister, speaking at the leadership of the busin
A Pakistani technology company has introduced AI Faceless Operations, a fully automated, round-the-clock system designed to digitalise and streamline cross-border trade processes. The solution aims to address major inefficiencies in the trade sector, which currently suffers an estimated annual loss of $36 billion due to outdated, paper-based systems that threaten up to 3 million jobs. The te
Goods transporters have urged the government to order shipping companies and port authorities to waive demurrage and late delivery charges incurred due to 12-day canal protests. Pakistan Goods Transporters Association (PGTA) Chairman Nisar Hussain Jafry said thousands of commercial vehicles were struck due to roadblocks by the protesters, including lawyers and the people of Sindh, against const
Pakistan’s trade deficit with the Middle East increased 10.11 per cent to $10.502 billion in the first nine months of FY25 from $9.538bn in the same period last year due to higher petroleum imports. The growing trade deficit raises concerns among decision-makers, mainly due to the rising influx of petroleum products. Meanwhile, export growth to select countries in the region remains minimal, ac