The US central bank's policy rate is now in a target range of 4.25-4.50 per cent, the highest level in 15 years, and notably, it was near zero in the early part of 2022.
The two draft ordinances prepared for Rs 100 billion each in taxes and flood levies. Pakistan is also considering discontinuing power subsidies, imposing sales tax on raw materials for exports, as well as, hikes in power, and gas tariffs are also on the agenda.
Despite facing severe foreign exchange shortage and being under economic crisis, the government of Pakistan has ordered a massive hike of 30 per cent in development funds to PKR 90 billion for Parliamentarians, according to Dawn.
British actor Julian Sands, best known for his roles in films like the 1985 drama 'A Room With a View' and the 1989 horror film 'Warlock,' went missing last Friday, January 13. Sands was hiking in the Baldy Bowl hiking area, which is located about 50 miles northeast of Los Angeles.
Pakistan-occupied Kashmir (PoK) is on the verge of food riots as large parts of the region, including Bagh and Muzaffarabad, are facing an unprecedented flour shortage with people holding Islamabad and the PoK government squarely responsible for the acute food shortages.
Due to a surge in price and shortage of wheat flour, a large number of people, including traders and shopkeepers staged protests here, The News reported on Wednesday.
Pakistan's economic condition is precarious with low foreign exchange reserves and large fiscal and current account deficits, has further worsened by severe flooding.
Former Himachal Pradesh minister Suresh Bhardwaj on Sunday launched a scathing attack on the state government over its decision to raise the value-added tax (VAT) on diesel, alleging that the Sukhvinder Singh Sukhu administration has started a "Kharcha Express" by "burdening" the common man.
With this price hike, a 19-kg commercial cylinder in Delhi will cost Rs 1,769, Rs 1,721 in Mumbai, Rs 1,870 in Kolkata and Rs 1,971 in Chennai. However, there would be no change in the prices for domestic LPG.
The Oil Marketing Companies on Sunday raised the price of commercial liquid petroleum gas (LPG) cylinders by Rs 25 with immediate effect on the first day of the New Year 2023.