Connect with us

Money

In just six months, Pakistan’s tea imports increased by 5.53%.

Published

on

According to the Pakistan Bureau of Statistics (PBS), the country’s imports of tea rose by 5.53% in the first half of current fiscal year compared to the previous one.

The country’s tea imports climbed by 5.53 percent to $336.423 million during the current fiscal year, which runs from July to December (2023–24), compared to $318.798 million during the same time in the previous fiscal year, 2023–2024, according to official statistics.

According to the data, the amount of imports rose by 9.12% to 139,751 metric tonnes in the current fiscal year from 128,068 metric tonnes in the previous one.

Comparatively speaking, tea imports fell 16.80% year over year to $58.869 million from $70.759 million in December of the previous year, but they rose 9.81% from $53.608 million in November to $58.869 million in December of 2023.

The country’s total food group imports decreased by 19.48% in the first half of the current fiscal year, according to PBS statistics. Food imports totaled $3,957.188 billion from July to December of 2023–2024, down from $4,914.278 billion in the previous year.

It is noteworthy to add that, in comparison to the same period last year, the country’s total trade deficit has shrunk by 34.29% in the first half of the current fiscal year, as per the study.

Following the decrease, it was noted at $11.148 billion, compared to $16.965 billion from July to December of 2022–2023.

According to the most recent PBS statistics, exports climbed by 5.17% to $14.981 billion during the reviewed period compared to $14.244 billion during the same time previous year.

In contrast, imports dropped by 16.28% to $26.129 billion from $31.209 billion in the previous year, according to the data.

Latest News

Karachi’s street crimes see an 11% increase in 2023: HRCP

Published

on

By

Details indicate that the HRCP voiced concerns about the rising incidence of street crimes in Karachi in its most recent report.

According to the research, Karachi had an 11% increase in street crimes in 2023—from 80,000 in 2022 to over 90,000 in 2023.

In 2023, 134 persons lost their lives while fending off robberies and other events, according to the HRCP report, while hundreds more were hurt.

The research also claimed that 2,336 cars and almost 59,000 motorcycles were stolen from individuals in 2023.

The HRCP highlighted worries about the province of Sindh’s general status of law and order as well. It was reported that 3,296 police encounters occurred last year—the largest number of encounters in a single year in Sindh.

As a result of the recent spike in street crime incidences in Karachi, the Inspector General of Police (IGP) has established a specialized squad and launched a targeted operation to combat the city’s criminal population.

The top police officers in the city conducted a high-level meeting under the direction of Inspector General of Police (IGP) Sindh, Ghulam Nabi Memon.

A team of 67 Karachi police officers—60 of whom will be sent from other districts—as well as seven elite SIU members were given the strategic task of managing the most critical cases by IGP Memon at the meeting.

Continue Reading

Business

Petrol prices are likely to drop significantly beginning May 16.

Published

on

By

According to sources, the government is set to decrease petrol prices by Rs 14 per litre and diesel prices by Rs 10 on May 16 for the next fortnight’s revision.

Last month, the government reduced the price of fuel and high-speed diesel by Rs5.45 and Rs8.42 per fortnight, respectively.

The current fuel price is Rs288.49 per litre, while the HSD price is Rs281.96.

Meanwhile, oil prices fell further on Monday, as signs of sluggish fuel consumption and comments from U.S. Federal Reserve officials dimmed optimism for interest rate reduction, which may slow growth and reduce fuel demand in the world’s largest economy.

Brent crude prices down 25 cents, or 0.3%, to $82.54 a barrel, while US West Texas Intermediate crude futures fell 19 cents, or 0.2%, to $78.07 per barrel.

Oil prices also declined on signals of poor demand, according to ANZ analysts, as gasoline and distillate inventories in the United States increased in the week before the start of the driving season.

Refiners throughout the world are dealing with falling diesel profitability as new refineries increase supply and warm weather in the northern hemisphere and weak economic activity reduce demand.

Continue Reading

Latest News

IHC suspends the naan and roti price reduction notification.

Published

on

By

The head of the Naanbai Welfare Association petitioned IHC Justice Tariq Mahmood Jahangiri.

In their petition, the Naanbai Welfare Association said that the controller general reduced the price of roti from Rs25 to Rs16 and naan from Rs30 to Rs20.

The association claimed that the relevant authorities did not consult them before making the decision. He informed the court that the decision was made without their input and that the new pricing were too low.

The district administration official informed the court that the controller of general pricing and suppliers was given the authority to determine the prices of necessary commodities such as naan and roti.

Following a legislative modification, the functions were delegated to the controller general.

Barrister Umar Aijaz Gilani, the lawyer for the Naanbai Association, argued that the controller general’s powers were not governed by Section 3 as stated in the notification.

He noted that rent and grain prices are high in Islamabad. The court queried the Islamabad district government, which was the association, about the pricing of flour before lowering the costs. “Order was passed justice to make people happy.”

Later, the court ordered a detailed answer in the matter and stayed the notification of lowering the prices of naan and roti in Islamabad until May 6.

Continue Reading

Trending