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Chicken, milk and sugar new prices in Karachi; check rates here

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Chicken meat price increases in Pakistan; Check latest rates here

The Commissioner Karachi issued a notice about the prices of the food items. The spokesperson of the Sindh Chief Minister said that under the directives of Chief Minister Murad Ali Shah, the price control program was initiated wherein the administration would monitor prices through a price list. According to the notice, the dairy farm milk … Read more

SHC seeks criteria to increase prices of petroleum products

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SHC
  • OGRA and others have been made parties.
  • Petitioner said people are already crushed inflation.
  • The court adjourned the hearing for a week.

KARACHI: Sindh High Court (SHC) has sought decision of apex court decision regarding the increase in petroleum products prices.

The court hearing the petition against the hike of petroleum products sought the decision of the Supreme Court regarding price determination.

Secretary Finance, Secretary Petroleum, OGRA, and others have been made parties in the petition.

The court instructed the petitioner that Supreme Court had given a decision on pricing and you should submit that.

The petitioner requested the court to ask the government to not put the burden on the people as  people are already crushed under the burden of inflation.

The prices of petroleum products have increased in the history of the country by fulfilling the agenda of the IMF.

It is requested in the petition that the approval of the increase in the prices of petroleum products should be taken from the Parliament

The petitioner pleaded to the court to restore the old prices of petroleum products.

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Govt announces hefty increase in petrol, diesel prices

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Diesel Prices

The federal government on Sunday increased the price of petrol and diesel by a staggering Rs35 per litre in the country. Federal Minister for Finance and Revenue Senator Ishaq Dar announced that increased in the prices of Petrol and High-Speed Diesel (HSD). The prices of kerosene oil and light diesel have been increased by Rs18 … Read more

Samsung Galaxy A33 6GB in Pakistan: Premium made more Affordable

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Samsung Galaxy A33

The Galaxy A33 is a descendant of Samsung’s line of budget smartphones. Its 8/128GB variant was first introduced in Pakistan in June. The version costs 61,999 less than the original. The Galaxy A33 is a descendant of Samsung’s line of budget smartphones. Its 8/128GB variant was first introduced in Pakistan in June at an absurdly … Read more

Realme 10 Imminent Launch Is Confirmed

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There may be a new Realme mid-range smartphone series. Check out the Realme 9 specifications. Realme 10 series device may be set to make its appearance soon. There may be a new Realme mid-range smartphone series in the development. After releasing multiple Realme 9 models, the company is now transitioning to a new line of … Read more

Truss says “I will take action in a week” in response to rising energy prices

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Truss

Foreign Secretary Liz Truss and former Chancellor Rishi Sunak, both candidates for the Conservative Party’s leadership, are our guests today. One of them will be named the new Tory leader tomorrow and the new British prime minister on Tuesday. Truss says she is aware that people are concerned about their energy prices and that if … Read more

Govt not responsible for fixing petrol prices: PML-N’s Abbasi

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Abbasi

KARACHI: An accountability court on Wednesday heard a reference against PML-N stalwart and former prime minister Shahid Khaqan Abbasi for illegal appointments in the Pakistan State Oil (PSO). Ex-PM Abbasi and other accused appeared in court. The lawyer of the co-accused Sheikh Imran-ul-Haq sought time to give arguments. He said the accountability court can hear … Read more

Nestlé has kept hiking prices this year

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nestle
  • Nestlé raises prices by 6.5 percent in the first half of 2022. Company cites an “unprecedented” cost increase.
  • Food prices have fallen for three months in a row, though they were still 23 percent higher in June than a year ago.
  • The World Food Programme estimates 47 million people are facing acute hunger.

Nestlé raised its prices by 6.5 percent in the first half of 2022 in response to a “unprecedented” cost increase.

Nestlé said in a statement Thursday that the world’s largest food company raised its prices the most in North America (9.8 percent), followed by Latin America (9.4 percent).
Nestlé (NSRGF) reported that rising commodity, packaging, freight, and energy costs weighed on the company’s operating profit margin.
“Through disciplined cost control and operational efficiencies, we limited the impact of unprecedented inflationary pressures and supply chain constraints on our margin development,” CEO Mark Schneider said in a statement.
Despite higher prices, the company, which owns KitKat and Nescafé, increased organic sales by 8.1 percent during the period, owing to strong demand for its Purina pet food products.
Global inflation has driven up costs for the world’s largest manufacturers, which have then been passed on to consumers. Unilever (UL), a competitor of Nestlé, announced on Tuesday that it raised its prices by an average of 9.8 percent in the first six months of the year.
Higher prices have also exacerbated global food insecurity, which has been exacerbated by Russia’s invasion of Ukraine in February. The war has driven up the price of energy and staple commodities to all-time highs, putting pressure on poorer countries that rely on imports.
There is some good news: global food prices have fallen for three months in a row, according to the UN Food and Agricultural Organization’s Food Price Index, though they were still 23 percent higher in June than a year ago.
The World Food Programme (WFP) estimates that the Ukraine war has pushed 47 million people into a state of acute hunger.
Russia and Ukraine signed an agreement last week that will allow grain and oilseed exports from Ukrainian Black Sea ports to resume after months of disruption.

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Fuel prices: Pakistan Railways to cut train fares by 10pc

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Railway

Ministry of Railways agrees to lower train tariffs by 5 to 10% Saad Rafique, the minister of railways, reportedly gave the order. The decision follows reduction in the cost of petroleum products from Rs18.50 to Rs40.54 per litre. Following the drop in the price of petroleum products, the Ministry of Railways has agreed to lower … Read more

Oil prices rebound from Tuesday tumble as supply concerns return

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Oil

Oil prices rise on Wednesday, recovering some of the losses from Tuesday. The price of oil rose 1.39 percent to $104.20 a barrel at 11:20 GMT. On Tuesday, both contracts experienced their biggest daily decline due to recession worries. On Wednesday, oil prices increased, recovering some of the steep losses from Tuesday as supply concerns … Read more

Manhattan apartment sales fall 30% in June, but prices remain high

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Manhattan

The sales contracts for co-ops and condominiums in Manhattan decreased by 30% in the quarter. Wealthy purchasers are more alarmed by stock market drops. Rising borrowing rates and concerns about the economy are making consumers hold off. Manhattan apartment sales contracts fell by over a third in June as recession worries and falling stock prices … Read more

Turkey: Prices rise at fastest pace in 24 years.

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Turkey

The annual rate of inflation in Turkey was 78.62 percent in June, slightly higher than expected. The Ukraine war contributed to some of the biggest price increases in housing and transportation. President Erdogan has called interest rates “the mother and father of all evil” for driving up prices. The most recent official statistics show that … Read more

India, the world’s largest producer of sugar, is restricting exports

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India

India restricts sugar exports to 10 million tonnes during the marketing season. India is the greatest producer of sugar in the world and second-largest exporter after Brazil. Annual retail inflation in Asia’s third largest economy hit 7.8% in April, highest level in 8 years. Just days after banning wheat exports, India decided to limit the … Read more

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