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Pakistan sees a 0.12% decrease in short-term inflation.

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4 months ago

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The SPI in the aforementioned category for the week under review was 321.56 points, compared to 321.95 points for the previous week, according to the PBS statistics.

In comparison with the same week in the previous year, there was an 18.41% increase in the SPI for the combined consumption group during the reviewed week.

Twenty (20) (or 39.22%) of the 51 goods had unchanged prices during the week, while the prices of 7 (13.72%) and 24 (47.06%) items increased.

In Q1, energy costs accounted for 15.80% of the total; bananas (4.87%), diesel (3.81%), petrol (2.23%), wheat flour (0.98%), sugar (0.21%), and cigarettes (0.21%) were among the commodities with the largest weekly price decreases.

Eggs (1.58%), cooked daal (1.05%), cooked beef (0.53%), rice basmati broken (0.44%), garlic (0.43%), onions (0.40%), shirting (0.09%), cooked beef (0.53%), and pulse gramme (0.78%) were the goods with the most weekly price increases.

The commodities that experienced a decline year over year were wheat flour (32.28%), electricity costs for Q1 (15.46%), cooking oil (5 litres; 13.44%), vegetable ghee 2.5 kg (9.99%), vegetable ghee 1 kg (9.21%), eggs (7.90%), chilli powder (7.04%), mustard oil (6.80%), rice basmati broken (5.68%), petrol (1.20%), and diesel (0.16%).

In Q1 (570.00%), onions (86.53%), pulse gramme (41.78%), powered milk (32.32%), pulse moong (30.21%), garlic (27.88%), shirting (25.09%), men’s sandal (25.01%), salt powder (23.28%), beef (23.13%), pulse mash (21.22%), and energy saver (17.96%) were among the commodities with rising average prices year over year.

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Business

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Business

Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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