कारोबार

Pakistan’s annual inflation eased to single digits in July 2026, with the latest official figures showing a noticeable decline in price growth compared to the previous month. However, economists cautioned that inflationary pressures have not disappeared, as higher fuel costs and other economic challenges continue to weigh on the outlook. According to data released by the Pakistan Bureau of Statistics (PBS) on Monday, the Consumer Price Index (CPI) recorded an annual inflation rate of 9.2% in July 2026. The reading marked a significant decline from 11.1% in June, although it remained considerably higher than the 4.1% recorded in July 2025. On a monthly basis, consumer prices increased by 1.2% during July, reversing the 0.3% decline witnessed in June. In comparison, monthly inflation had risen by 2.9% in July last year. Urban and rural inflation The PBS data showed that inflation in urban areas slowed to 8.7% year-on-year in July, down from 11.2% in June. During the same month last year, urban inflation had stood at 4.4%. Month-on-month, urban prices climbed 1.2%, compared to a 0.5% decline in June and a 3.4% increase recorded in July 2025. Meanwhile, rural inflation also moderated, with the annual rate easing to 9.9% in July from 10.9% a month earlier. Rural inflation had been 3.5% in the corresponding month of last year. On a monthly basis, rural prices increased by 1.2%, compared with no change in June, while July 2025 had witnessed a 2.2% monthly increase. Government projects inflation to remain elevated The Finance Division had earlier projected inflation to remain between 9% and 10% in July, warning that rising international oil prices could continue to exert pressure on domestic prices. The ministry’s latest economic outlook also highlighted concerns over external investment, noting that Pakistan’s foreign direct investment (FDI) fell by 33.9% during the last fiscal year, declining from $2.48 billion in FY2024-25 to $1.64 billion in FY2025-26. SBP keeps policy rate unchanged Last week, the State Bank of Pakistan’s Monetary Policy Committee maintained the benchmark policy rate at 11.5% during its first monetary policy meeting of the new fiscal year. Speaking after the decision, SBP Governor Jameel Ahmad said inflation was expected to decline in July and expressed optimism that it would gradually move towards the central bank’s target. He said the State Bank expects inflation to settle within the upper end of its 5-7% target range by the close of the current fiscal year. Analysts see base effect behind slowdown Market analysts had largely anticipated inflation returning to single digits in July, though many argued that the improvement was mainly due to favourable statistical base effects rather than a broad-based easing in price pressures. Analysts at Ismail Iqbal Securities estimated July inflation at 9.3%, saying the decline reflected comparison with a higher base from the previous year rather than a sustained reduction in inflationary momentum. Similarly, JS Global projected headline inflation at 9.1% for July, indicating that while inflation has eased, underlying economic pressures continue to pose risks for the months ahead. The latest inflation reading provides some relief for consumers and policymakers, but economists believe the path ahead will depend on global commodity prices, exchange rate stability, energy costs and the government’s fiscal management during the current financial year.

Gold prices moved higher across Pakistan on Monday, tracking an upward trend in the international bullion market, according to the latest rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price of 24-karat gold per tola increased by Rs1,700, taking the new rate to Rs428,436. The recovery comes after a sharp decline recorded in the previous trading session, when the precious metal had fallen by Rs3,700 per tola to settle at Rs426,736 on Saturday. The price of 10 grams of 24-karat gold also witnessed an increase, climbing by Rs1,457 to reach Rs367,314 in local markets. Market analysts said the rise in domestic gold prices reflects the positive movement in global bullion markets, where investor demand strengthened amid ongoing uncertainty surrounding the global economic outlook and expectations regarding interest rate policies. In the international market, the price of gold gained $17 per ounce, pushing the bullion rate to $4,060 per ounce, including a premium of $20. The increase in global prices was mirrored in Pakistan’s local market, where gold rates are largely influenced by international trends and fluctuations in the value of the Pakistani rupee against the US dollar. Meanwhile, silver prices also registered a notable increase. The price of silver per tola rose by Rs54, reaching Rs6,291 in the domestic market.

The sharp rise in fuel prices across the United Kingdom has triggered a significant increase in petrol theft, with filling stations now losing an estimated £200,000 worth of fuel every day, according to media reports. Petrol station operators have reported a growing number of “drive-off” incidents, where motorists fill their vehicles with fuel and leave without making payment. The trend has become increasingly common as higher fuel costs continue to put pressure on household budgets. Reports indicate that the overall financial impact of fuel theft has climbed by 48 percent following the recent surge in petrol and diesel prices. Retailers say the increase has added to the challenges already facing fuel station businesses, many of which are struggling with rising operating costs. The spike in fuel prices followed heightened tensions during the Iran conflict, when global oil markets experienced sharp volatility. During that period, the price of petrol reportedly increased by 27 pence per litre, while diesel prices rose by 37 pence per litre, making fuel significantly more expensive for consumers. Industry representatives warn that the consequences extend beyond financial losses. According to the Petrol Retailers Association (PRA), the rise in fuel prices has also been accompanied by an increase in abusive and aggressive behaviour directed at petrol station employees. Pump attendants have reportedly faced more verbal harassment and confrontations from frustrated customers. Fuel retailers are urging authorities to take stronger action against theft and improve security measures at filling stations. They also stress the need for greater protection for frontline staff, who are increasingly being exposed to difficult and sometimes dangerous situations while carrying out their duties.

A North Carolina man has struck it rich after relying on what he has always believed to be his lucky number, winning a $1 million prize from a scratch-off lottery ticket. According to international media reports, Thomas Moonves, a resident of Biscoe in North Carolina, purchased a $10 Triple Red 777 Jackpot scratch-off ticket from a local convenience store. He said he chose the ticket because the number 7 has always held special meaning in his life. Moonves explained that his connection with the number dates back to his birth, as he was born on the 7th day of the month in 1977. Believing the number had consistently brought him good fortune, he decided to try his luck with a ticket featuring multiple sevens. Soon after buying the ticket, Moonves scratched it on the spot and was stunned to discover he had won the game’s top prize of $1 million. Recalling the unforgettable moment, he said he was overwhelmed with excitement and could hardly believe what he was seeing. The unexpected win turned an ordinary trip to the store into a life-changing experience.

Pakistan’s petroleum product sales recorded a significant increase in July 2026, reflecting stronger economic activity, improved agricultural demand, and the impact of lower fuel prices. Industry data released on Monday showed that total petroleum sales reached 1.51 million tons, marking a 23% year-on-year (YoY) increase and the strongest July performance in several years. According to a report by brokerage firm Arif Habib Limited (AHL), the growth was fueled by declining domestic fuel prices, improving conditions in the agriculture sector, and a gradual rebound in economic and automobile-related activity. The report noted that farmers’ purchasing power improved due to better agricultural economics, while lower fuel costs encouraged higher consumption across the country. Excluding furnace oil (FO), sales by oil marketing companies (OMCs) increased 18.5% YoY, making July 2026 the strongest July for petroleum demand since July 2021. Petrol and Diesel Consumption Climbs Demand for motor spirit (MS), commonly known as petrol, remained robust during the month. Petrol sales rose 23% YoY to 0.73 million tons, reflecting increased transportation activity and higher vehicle usage. Meanwhile, high-speed diesel (HSD) sales climbed 19% YoY to 0.62 million tons. Diesel consumption was supported by greater agricultural operations, commercial transportation, and industrial activity as the economy continued its gradual recovery. Furnace Oil Registers Massive Growth Furnace oil sales posted the strongest percentage increase among all petroleum products, surging 406% year-on-year to 0.08 million tons. AHL attributed this sharp rise primarily to increased furnace oil consumption by the power sector, where seasonal electricity demand during the summer months led to greater fuel usage for power generation. Strong Month-on-Month Growth On a month-on-month (MoM) basis, overall petroleum sales also recorded impressive gains, rising 20% compared to June 2026. Analysts said the monthly increase was largely driven by lower domestic petroleum prices, which followed a decline in international crude oil prices as geopolitical tensions eased in global markets. During the month: Petrol (MS) sales increased 12% over June. High-speed diesel (HSD) sales rose 25%. Furnace oil demand jumped 89%, supported by higher electricity generation requirements during peak summer temperatures. PSO Strengthens Market Position Among Pakistan’s oil marketing companies, Pakistan State Oil (PSO) emerged as the strongest performer in July. The company’s total petroleum sales climbed 38% year-on-year to 702,000 tons. Petrol sales increased by 44.1%, while diesel sales rose 40.3%, enabling PSO to expand its presence in the domestic fuel market. According to the report, PSO gained market share at the expense of Gas & Oil Pakistan (GO). GO’s market share in petrol declined to 5%, its lowest level since June 2024, while its diesel market share fell to 7%, the weakest since May 2024. Government Levy Collections Remain on Track The report also estimated that the federal government collected approximately Rs134 billion through the Petroleum Development Levy (PDL) during July. Based on current trends, AHL believes the government remains on course to meet its FY2026-27 PDL collection target of Rs1.68 trillion, representing an increase of nearly 12% compared with the revised target for the previous fiscal year.

ISLAMABAD: Pakistan and Iran have reaffirmed their commitment to significantly strengthen economic cooperation by increasing bilateral trade to $10 billion and accelerating efforts to finalize a long-awaited Free Trade Agreement (FTA). The understanding was reached during the 10th meeting of the Pakistan-Iran Joint Trade Committee, held in Islamabad on Tuesday. The session was jointly chaired by Federal Minister for Commerce Jam Kamal Khan and Iranian Minister for Industry, Mine and Trade Dr. Mohammad Atabak, with senior officials from both countries participating in discussions aimed at expanding trade and investment ties. During the meeting, both sides reviewed the current state of bilateral trade and explored practical measures to unlock its full potential. The two countries agreed that stronger economic integration, improved connectivity, and enhanced cross-border cooperation are essential for achieving the ambitious trade target of $10 billion. Speaking on the occasion, Commerce Minister Jam Kamal said Pakistan and Iran enjoy longstanding historical, cultural, and religious ties, but stressed that these relations should now be translated into a robust economic partnership. He emphasized that expanding trade and investment would bring mutual economic benefits and contribute to regional prosperity. The minister underscored the importance of completing the Pakistan-Iran Free Trade Agreement at the earliest opportunity, describing it as a key step toward facilitating commerce between the neighboring countries. He also called for the removal of bottlenecks affecting border logistics, customs procedures, and cargo movement to ensure smoother and faster trade flows. Jam Kamal noted that bilateral trade could be further enhanced through the development of joint border markets, greater use of electronic data interchange systems, and closer coordination between relevant government agencies. He said modernizing trade infrastructure and simplifying customs procedures would help businesses on both sides benefit from increased commercial activity. The Joint Trade Committee also agreed to formulate a practical roadmap aimed at strengthening economic cooperation across multiple sectors. The roadmap will focus on trade facilitation, infrastructure development, logistics, and investment opportunities while encouraging closer collaboration between the public and private sectors. Iranian Minister Dr. Mohammad Atabak described Pakistan as one of Iran’s key long-term strategic trade partners and expressed confidence that bilateral economic relations could expand considerably in the coming years. He highlighted the importance of increasing regional trade and logistics cooperation, particularly by utilizing Pakistan’s Karachi and Gwadar ports to improve connectivity and facilitate the movement of goods. Dr. Atabak also voiced optimism about the early conclusion of the Pakistan-Iran Free Trade Agreement, saying it would create new opportunities for businesses in both countries. He added that cooperation in electricity trade, transport networks, and regional connectivity projects could open new avenues for economic growth and strengthen commercial links across the region.

The federal government has taken a significant step towards implementing its newly introduced contributory pension system by approving 16 eligible Pension Fund Managers (PFMs) under the Defined Contribution Pension Fund Scheme-2024 for newly recruited federal employees. According to an official notification issued by the Ministry of Finance, the approved Pension Fund Managers have successfully completed all required legal and administrative agreements with the federal government. Following the completion of these formalities, they are now authorized to receive, manage, and invest pension contributions under the new pension framework. The move marks an important milestone in the government’s broader pension reform agenda, aimed at ensuring the long-term financial sustainability of the country’s pension system while reducing the growing fiscal burden associated with traditional pension payments. The Defined Contribution Pension Fund Scheme-2024 was introduced under the Federal Government Defined Contribution Pension Fund Scheme Rules, 2024, replacing the long-standing defined benefit pension model for newly appointed federal government employees. Under the previous system, retired employees received pensions funded entirely by the government. The new framework, however, shifts to a contributory model in which both employees and the government make regular monthly contributions toward retirement savings. As per the scheme, every newly recruited federal employee will contribute 10 percent of their pensionable salary each month to an individual pension account. In addition, the federal government will contribute 12 percent of the employee’s pensionable salary, creating a combined retirement fund that will be professionally managed by the approved Pension Fund Managers. The accumulated contributions will be invested in a diversified portfolio of financial instruments and investment opportunities with the objective of generating long-term returns. Upon retirement, employees will receive pension benefits based on the total value of their accumulated savings and the investment returns earned over the course of their service, rather than relying on a fixed government-funded pension. Officials believe the reform will help establish a financially sustainable pension system by encouraging long-term savings and reducing future pension liabilities on the national exchequer. The appointment of the 16 Pension Fund Managers is expected to facilitate the smooth rollout of the scheme and provide newly inducted federal employees with multiple professionally managed investment options for their retirement savings.

The federal government has extended the latest reduction in petroleum prices by lowering the cost of kerosene oil, providing additional relief to consumers who rely on the fuel for household and commercial use, particularly in remote and off-grid areas. According to a notification issued by the Oil and Gas Regulatory Authority (OGRA), the price of kerosene has been reduced by Rs3.58 per litre. Following the latest revision, the new retail price of kerosene has been fixed at Rs301.64 per litre, down from the previous rate of Rs305.22 per litre. The reduction comes as part of the government’s broader revision of petroleum product prices aimed at passing on the benefit of changes in international oil markets to consumers. Earlier, the Petroleum Division announced fresh prices for major petroleum products effective from August 4, confirming a decrease in the prices of both petrol and high-speed diesel. Under the revised rates, petrol has become cheaper by Rs4.80 per litre, bringing its new price down to Rs331.95 per litre. Likewise, the price of high-speed diesel (HSD) has been reduced by Rs2.45 per litre, setting the new rate at Rs389.93 per litre. The latest cuts are expected to provide modest relief to motorists, transporters, and businesses facing high operating costs, while the reduction in kerosene prices is likely to benefit households in regions where the fuel remains a primary source for cooking, heating, and lighting.