Pakistan’s oil industry is projected to lose Rs 35 billion this fiscal year because of a sales tax exemption on petroleum products introduced in the Finance Act 2024.

Seven independent power producers (IPPs) and the Central Power Purchasing Agency (CPPA) have filed a petition with the National Electric Power Regulatory Authority (NEPRA) to adjust their tariff. NEPRA will hold a hearing on this today, Monday.

The government’s idea to lower electricity tariffs hit a snag because the International Monetary Fund (IMF) isn’t signing off on a staff-level agreement (SLA) for Pakistan’s first biannual review of the $7 billion Extended Fund Facility (EFF), according to Dawn.

Pakistan and the International Monetary Fund (IMF) have settled on a plan to lower the country’s average tariffs from 10.6 percent to 6 percent over the next five years. This change aims to boost foreign competition and make Pakistan the South Asian country with the lowest tariffs.

The International Monetary Fund (IMF) has turned down the Federal Board of Revenue’s (FBR) request to lower transaction taxes on property for now, according to The News.

Sugar prices in Pakistan are still high, ranging from Rs164 to Rs180 per kilogram in many cities, even after the government ordered rates to drop below Rs164 per kg. Official warnings and actions against hoarding have had little effect.

Pakistan Railways earned a record Rs88 billion in 2024, a 40% increase from the previous year, thanks to adding 10 new freight trains, increasing coach capacity, and improving services like executive washrooms and dining lounges.