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A petition has been filed in the Lahore High Court challenging the government’s petroleum levy decision after the latest fuel price cut. The plea argues that higher diesel levy weakens public relief and calls for a transparent fuel pricing mechanism.
The government is reviewing major budget relief proposals for public-sector employees and pensioners, including salary increases, higher conveyance allowance, tax relief and pension adjustments. Final approval is expected before the federal budget session scheduled for June 5.
Pakistan has reduced petrol and high-speed diesel prices by Rs22 per litre each, setting the new rates at Rs381.78 and Rs380.78 respectively. The government says the move is aimed at public relief amid softer global oil prices and continued pressure on household budgets.
Ishaq Dar has urged Pakistani-Americans to invest in Pakistan, saying the economy is moving toward stability and sustainable growth. He highlighted improved indicators, export-led plans and the diaspora’s role in strengthening Pakistan’s future.
Pakistan has made income tax return filing easier for overseas citizens through the FBR’s IRIS portal. The new awareness drive encourages expatriates with Pakistan-based income to file returns online and benefit from smoother banking, property and tax-related processes.
Oil prices rose again after fresh US strikes on Iran renewed concerns about Middle East instability and energy supply risks. The development is significant for Pakistan because higher fuel import costs can add pressure on inflation, the budget and foreign exchange reserves.
The federal government is reviewing proposals to raise salaries, pensions and allowances in the upcoming budget. The plan may also include targeted tax relief for salaried individuals, pending cabinet and IMF-linked consultations.
Prince Rahim Aga Khan V assured KP Governor Faisal Karim Kundi and Chief Minister Sohail Afridi of investment and development cooperation during a meeting in Chitral. The talks included plans for an Aga Khan university and hospital in Peshawar, along with collaboration in tourism, mining and poverty reduction.
The Pakistan Stock Exchange opened strongly as the KSE-100 index jumped more than 2,800 points in early trade. Investor confidence improved amid hopes of US-Iran diplomatic progress and falling global oil prices.
Sacrificial animal prices have surged across Pakistan’s cattle markets ahead of Eidul Azha, with buyers complaining that goats, bulls and camels are becoming unaffordable. Officials say there is no fixed price formula, but monitoring has been increased to stop illegal charges and fraud.
Prime Minister Shehbaz Sharif has invited Chinese firms to relocate industries to Pakistan through joint ventures and export-focused manufacturing. He said Pakistan wants investment, technology and expertise rather than loans, with agriculture, IT, minerals and special economic zones placed at the centre of the plan.
Pakistan’s wheat market is facing renewed pressure as weak procurement, lower crop estimates and rising input costs unsettle farmers, millers and policymakers. The crisis could affect flour prices and food security unless stock rules, procurement planning and targeted consumer protection are improved.
