Pakistani traders stage protest demonstration amid rising cost of business, spiraling inflation

Local traders stage protest demonstration against rising inflation caused by increased fuel and electricity prices in Karachi, Pakistan, on August 18, 2023. (AN Photo)
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Updated 18 August 2023
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Pakistani traders stage protest demonstration amid rising cost of business, spiraling inflation

  • Demonstrators say they are trying to protect their businesses from total collapse due to mounting energy prices
  • Pakistan recently increased electricity tariff and fuel prices to implement economic reforms agreed with the IMF

KARACHI: Pakistani traders on Friday staged a protest demonstration in the commercial capital of the country against the escalating costs of energy and essential food items amid mounting inflationary pressure.

The protest was organized by various representative bodies of traders in front of Karachi’s historic Memon Masjid situated near the harbor. Around 100 trade associations participated in the protest and vowed to continue their struggle against the rising cost of doing business in the country.

Speaking to the participants of the demonstration, Atiq Mir, chairman of All Karachi Tajir Ithehad (AKTI), said traders had launched a series of protests in different parts of the city to save their business from complete collapse and protect their livelihood.

“The unprecedented rise in the prices of electricity and fuel has now become unbearable for traders and masses alike,” he said. “That is why we have launched the drive to protect the business.”




Local traders stage protest demonstration against rising inflation caused by increased fuel and electricity prices in Karachi, Pakistan, on August 18, 2023. (AN Photo)

He warned if the government failed to take corrective measures by curtailing power and fuel rates, all traders would begin to stop payment of electricity bills.

“In the next phase of our protests, the payments of electricity bills would be stopped,” Mir said, adding: “Payment of electricity bills has become a more difficult task for over 90 percent of people due to high tariffs.”

In Pakistan, the outgoing coalition government of former prime minister Shehbaz Sharif had authorized a significant increase in the electricity base tariff to meet one of the key demands of the International Monetary Fund (IMF) under a $3 billion stand-by arrangement (SBA), a short-term financing program signed in June 2023.

The power regulator, National Electric Power Regulatory Authority (NEPRA), in June this year raised the power base tariff by Rs4.96 per unit.

The power tariff hike has increased electricity bills between Rs1,836 to Rs16,000 for various categories of consumers across the country.

Hamid Mehmood, another trade leader, representing small industries agreed with Mir and his other colleagues.

“The high cost of electricity is badly impacting the business,” he said and demanded that all the taxes imposed on electricity consumption must be withdrawn.




Local traders stage protest demonstration against rising inflation caused by increased fuel and electricity prices in Karachi, Pakistan, on August 18, 2023. (AN Photo)

Traders also urged the government to end the peak hours and off-peak hours while calculating electricity bills.

Pakistan has jacked up fuel prices twice in the last 30 days under a fortnightly price adjustment mechanism. The fuel rates with over 15 percent hike have gone up to an all-time high in the country.

Traders said the recent hike in the prices of petroleum products and power couple with spiraling inflation had almost crippled the business activities.

“Our business has almost declined by 80 percent,” Ahsan Gujjar, a motorcycle dealer, said, adding that most of the traders were surviving on what used to be about 20 percent of their trade.

Traders also criticized the newly appointed caretaker administration, saying they were following in the footsteps of the previous coalition government of Shehbaz Sharif which, according to many of them, was responsible for the current economic chaos.

Inflation in Pakistan hit a historic high of 38 percent in May this year before easing off to 28.3 percent in July. However, it still remains toward the higher side.


Pakistan wins top honors at UK air show after JF-17 deployment post-India clash

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Pakistan wins top honors at UK air show after JF-17 deployment post-India clash

  • The Royal International Air Tattoo is among the world’s most prestigious military aviation events
  • Pakistan’s air chief says keeping the national flag high has always been the air force’s hallmark

KARACHI: Pakistan Air Force has won two prestigious awards at the Royal International Air Tattoo (RIAT) in the United Kingdom, said an official statement on Saturday, where its newly deployed JF-17 Thunder Block-III fighter jets made their debut amid heightened interest following a recent military standoff with India.

The JF-17 Block-III was awarded the coveted “Spirit of the Meet” Trophy, a rare honor given to the aircraft that best embodies the ethos and excitement of the global event. Pakistan’s C-130H Hercules, painted in a custom livery themed “Eyes in the Skies,” also received the “Concours d’Elegance” Trophy for best-maintained and most aesthetically presented aircraft, according to Pakistan’s military.

The awards come just days after Pakistan deployed these aircraft to the RIAT, one of the world’s most prestigious military air shows, as part of a broader push to display its airpower and modernization drive.

“Winning these prestigious awards is a testament to our professionalism, technical expertise and relentless pursuit of excellence,” said Air Chief Marshal Zaheer Ahmed Baber Sidhu, who congratulated the PAF contingent on its performance, according to the military’s media wing, Inter-Services Public Relations (ISPR).

“Keeping the nation’s flag high has always been the hallmark of Pakistan Air Force,” he added.

The JF-17 Block-III is a 4.5-generation, multi-role fighter equipped with a long-range beyond-visual-range missile capability. Co-developed by Pakistan and China, the aircraft is central to Pakistan’s indigenous defense strategy.

It also played a vital role in the intense, four-day military standoff with India in May when Pakistan shot down advanced Indian fighter jets.

The aircraft flew from Pakistan to Royal Air Force Base Fairford in southern England earlier this week, successfully conducting air-to-air refueling mid-flight — a maneuver the military described as evidence of the PAF’s growing long-range operational capabilities.

“PAF’s outstanding performance at RIAT-2025 not only cements its standing among leading global air forces but also serves as a source of immense pride for the entire Pakistani nation,” the ISPR said.

Pakistan has previously won honors at RIAT in 2006, 2016, and 2018, reinforcing what the statement described as a consistent record of aviation excellence.


Pakistan’s finance chief eyes ‘step-change’ US investment after Washington trade talks

Updated 19 July 2025
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Pakistan’s finance chief eyes ‘step-change’ US investment after Washington trade talks

  • Minister Muhammad Aurangzeb hints at forthcoming ‘leadership-level’ announcement in coming days
  • Says both sides have identified investment areas including minerals, mining and artificial intelligence

KARACHI: Pakistan and the United States are exploring a shift in their economic engagement from a trade-focused relationship to one anchored in long-term investment, Finance Minister Muhammad Aurangzeb said in a video message after high-level talks in Washington on Friday.

The meeting between Aurangzeb, US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer followed a virtual discussion last month during which both sides agreed to push negotiations forward “at the earliest.”

The talks come after the US imposed a 29 percent “reciprocal tariff” on Pakistani exports under President Donald Trump’s trade measures announced in April, a move Islamabad said could undercut its fragile, export-led recovery.

“One thing we discussed was that we have to move beyond the immediate trade imperative for it to be brought into the next level and bring in a real step change,” Aurangzeb said after his interaction with US officials.

“So, the investment imperative will come forward, and areas have already been identified in terms of minerals and mining, in terms of AI [artificial intelligence], in terms of digital infrastructure [and] crypto,” he continued. “We feel that this will be a real game changer, God willing, in terms of the relationship and the economic relationship between Pakistan and the United States.”

The Pakistani finance chief said both sides were committed to resolving outstanding trade issues to move “toward the finishing line” and begin investment-related discussions “very quickly.”

He also hinted at forthcoming announcements “at the leadership level,” which he said would reflect all the hard work and efforts that have been put in both by Pakistan and on the US side.

“We begin with trade, and then it will very quickly be followed through with investment discussions between the two countries and real execution of the investment upside,” he said, calling the next phase a “real win-win for Pakistan and the United States.”

Pakistan’s finance ministry has said the US remains its largest trading partner while emphasizing Islamabad’s interest in expanding cooperation beyond textiles to other sectors.

The US is Pakistan’s top export destination, with shipments totaling $5.44 billion in the 2023-24 fiscal year.

From July 2024 to February 2025, exports rose 10 percent from a year earlier, according to official data.


Relief operations underway as Pakistan rain death toll nears 200

Updated 19 July 2025
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Relief operations underway as Pakistan rain death toll nears 200

  • The downpours have also damaged nearly 700 homes across the South Asian country
  • Punjab deputy commissioners to remain in field until rainwater drainage is completed

ISLAMABAD: Authorities were conducting relief operations in several areas across Pakistan after this week’s torrential rains appeared to largely subside, with the death toll from rain-related incidents nearing 200 since late June.

Pakistan’s most populous Punjab province has been the hardest hit with 114 deaths, followed by 40 in Khyber Pakhtunkhwa (KP), 21 in Sindh, 16 in Balochistan and one each in Islamabad and Azad Kashmir since June 26, according to the National Disaster Management Authority (NDMA).

Authorities rescued four special persons who were stranded in floodwaters, while 18 others were evacuated to safety in Kacha Rokhri area in Punjab’s Minawali district, the ruling Pakistan Muslim League-Nawaz party said on X, citing authorities.

“Immediate cleaning of landslide-affected roads in different areas of Chakwal has started. Administration, rescue and heavy machinery are present on the spot,” the party said.

“Deputy commissioners have been instructed to remain in the field until rainwater drainage is completed.”

The downpours have also damaged nearly 700 homes across the South Asian country, according to the disaster management authorities. Rations, blankets and tents are being distributed by local administrations in affected areas.

“Scattered thunderstorm/rain with isolated heavy falls is expected over Sindh, East Balochistan and South Punjab,” the NDMA said in its weather outlook for Saturday and Sunday.

Monsoon season brings South Asia 70 to 80 percent of its annual rainfall, arriving in early June in India and late June in Pakistan, and lasting through until September.

The annual rains are vital for agriculture and food security, and the livelihoods of millions of farmers. But increasingly erratic and extreme weather patterns are turning the rains into a destructive force.

In 2022, record-breaking monsoon rains combined with glacial melt submerged nearly a third of Pakistan, killing more than 1,700 people and displacing over 8 million. In May, at least 32 people were killed in severe storms, including strong hailstorms.


Pakistani tech firms urge 10-year tax stability, one-window compliance to ‘supercharge’ exports

Updated 19 July 2025
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Pakistani tech firms urge 10-year tax stability, one-window compliance to ‘supercharge’ exports

  • Pakistan recorded monthly IT exports of $338 million in June, up by 14% year on year and by 3% month on month
  • Tech firms say they aren’t seeking subsidies, but predictability, digitalization and administrative simplification

KARACHI: Pakistan can unlock billions in tech investment if it gives investors predictable taxes, friction-free remittances and a single digital compliance experience, the Pakistan Software Houses Association (P@SHA) said on Friday.

P@SHA said it presented a “Continuity & Consistency reform package” to the Ministry of Finance earlier this year, laying out a small number of high-impact changes that would slash compliance costs, bring tens of thousands of remote digital workers into the formal tax net, and catalyze both domestic and foreign investment into Pakistani tech firms.

The requested changes are not subsidies; they are predictability, digitalization, and administrative simplification. Most steps can be budget-neutral or revenue-positive once increased documentation, broadened compliance, and higher recorded export flows are taken into account.

“Every serious investor, local or international, asks the same two questions: What will my tax exposure be, and will the rules change after I invest?” P@SHA Chairman Sajjad Syed said.

“Right now, innovators spend too much time navigating overlapping regimes and too little time building export-earning products. If we hard-code continuity and make compliance near effortless, capital will move to Pakistan.”

Pakistan tech firms have been demonstrating their growing potential in the IT sector by showcasing their products and services at global forums, including the LEAP tech conference in Riyadh and GITEX global exhibition in Dubai.

Pakistan recorded monthly IT exports of $338 million in June, up by 14% year on year and by 3% month on month, according to Karachi-based Toplines Securities brokerage and market research firm. This took Pakistan’s annual IT exports to $3.8 billion, up by 18% YoY, in the outgoing fiscal year that ended in June.

In its statement, P@SHA urged continuation of the 10-Year Final Tax Regime (FTR) on information technology/IT-enabled services (IT/ITeS) export income, removal of discrepancies in tax rates where Pakistani IT companies get penalized for running payrolls from Pakistan, exemption of the Capital Gains Tax to secure investor’s confidence among other measures.

The association proposed joint working sessions with the Federal Board of Revenue, Ministry of IT & Telecom, State Bank of Pakistan, National Tax Council, and provincial revenue authorities to translate its proposed reforms package into draft language, digital filing flows, and phased rollout milestones, recommending immediate start of technical work.

“Pakistan stands at an inflection point: with its young talent base, global client footprint, and expanding startup ecosystem, the country can compete for high-value digital work, if investors trust the rules,” it said. “P@SHA urges policymakers to seize this moment to send that signal.”


Pakistan dominate IBSF World Snooker Championship in Bahrain with twin titles

Updated 19 July 2025
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Pakistan dominate IBSF World Snooker Championship in Bahrain with twin titles

  • Veteran Mohmmad Asif beats India’s Brijesh Damani 4-3 in a nail-biting Masters encounter
  • Hasnain produces clinical display of cue mastery, sweeping past Riley Powell of Wales 4-0

ISLAMABAD: Pakistan on Friday stamped their authority on the global snooker stage as Mohammad Asif and Muhammad Hasnain clinched both the Masters and Under-17 titles after a thrilling finale at the IBSF World Snooker Championship 2025 in Bahrain.

Asif faced a stern test in the World Masters final, going toe-to-toe with India’s Brijesh Damani in a nail-biting encounter. After six fiercely contested frames, the Pakistani star cueist held his nerve in the decider to edge Damani 4-3, clinching yet another major title.

Punjab Chief Minister Maryam Nawaz congratulated Asif on his brilliant win in the Masters category.

“Mohammad Asif has brought pride to Pakistan on the global stage by defeating his Indian opponent through sheer hard work, skill, and determination,” she was quoted as saying by her Pakistan Muslim League Nawaz (PML-N) party.

Muhammad Asif of Pakistan receives the Masters title award at the IBSF World Snooker Championship in Manama, Bahrain, on July 18, 2025. (Handout/IBSF)

Asif advanced to the final with an impressive 4-2 win over India’s Manan Chandra in the semifinal on Thursday at the Crowne Plaza, Bahrain.

Meanwhile, Hasnain produced a clinical display of cue mastery, sweeping past Riley Powell of Wales 4-0 to seize the World Under-17 Snooker crown.

“The young prodigy remained unshaken throughout, showcasing composure beyond his years to secure the gold,” the IBSF said on its website.

Pakistan’s Muhammad Hasnain receives the Under-17 title award at the IBSF World Snooker Championship in Manama, Bahrain, on July 18, 2025. (Handout/IBSF)