Pakistan headline inflation in December rose 29.7 percent year on year — statistics bureau 

A man sits in front of closed shops along a roadside in Peshawar on September 2, 2023. (AFP/File)
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Updated 01 January 2024
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Pakistan headline inflation in December rose 29.7 percent year on year — statistics bureau 

  • Pakistan experienced highest ever inflation in 2023, with its currency dipping to historic lows 
  • Monthly inflation for December registered a 0.8 percent increase from the previous month 

KARACHI: Pakistan’s consumer price index (CPI) for December rose 29.7 percent from a year before, data from the Pakistan Bureau of Statistics showed on Monday. 

The country of 241 million people experienced its highest ever inflation in 2023, with its currency dipping to historic lows until a $3 billion IMF bailout averted an imminent sovereign default in July. 

Monthly inflation for December registered a 0.8 percent rise from the previous month. 

Mohammed Sohail, CEO of Topline Securities, said that inflation in Pakistan was showing some signs of slowdown based on month on month inflation data. 

“With lower local oil prices we may see decline in the year-on-year inflation in January and February,” added Sohail. 

The central bank governor said on Friday Pakistan’s inflation rate would ease to around 20 percent-22 percent in the 2024 financial year, in a report issued weeks ahead of a national election it is hoped will help restore political and economic stability. 

Bank chief Jameel Ahmed also said in his report that CPI surged to 29.2 percent in 2023, around the upper bound of the bank’s revised projections. 

He added that the central bank would keep inflation expectations anchored to achieve its medium-term target of 5 percent-7 percent. 


Pakistan’s PIA to resume London flights from Mar. 29 after six-year gap

Updated 30 December 2025
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Pakistan’s PIA to resume London flights from Mar. 29 after six-year gap

  • Newly privatized airline says will operate four weekly flights from Islamabad to London
  • PIA is already operating three fllights per week to British city Manchester, says airline

ISLAMABAD: The newly privatized Pakistan International Airlines (PIA) will operate direct flights to London starting Mar. 29, 2026, after six years, its spokesperson confirmed on Tuesday. 

The PIA resumed its flight operations to the UK in October this year with its inaugural flight to Manchester. The airline is currently operating three weekly flights to the British city. 

Britain lifted restrictions on Pakistani carriers in July, nearly half a decade after grounding them following a 2020 PIA Airbus A320 crash in Karachi that killed 97 people. The disaster was followed by claims of irregularities in pilot licensing, which led to bans in the US, UK and the European Union. 

“Pakistan International Airlines has announced the expansion of its operations in the United Kingdom with the resumption of flights to London,” the airline’s spokesperson said in a statement. 

“Starting Mar. 29, PIA will operate four weekly flights from Islamabad to London.”

The airline said that the London flights will be operated from Heathrow Airport’s Terminal 4, which it said is recognized as one of its most modern terminals. 

“London was PIA’s very first international destination and remains one of its most important and attractive routes,” the spokesperson said. 

Pakistan’s government succeeded in its frequent efforts to privatize the airline this month after a consortium, led by Arif Habib Group, on Dec. 23 secured a 75 percent stake in PIA for Rs135 billion ($482 million) after several rounds of bidding, valuing the airline at Rs180 billion ($643 million).

The sale marked Pakistan’s most aggressive attempt in decades to reform the debt-ridden national airline, which had accumulated more than $2.8 billion in financial losses. The government said it would end decades of state-funded bailouts and help revive the airline.

In an exclusive interview with Arab News this week, the airline’s new owner Arif Habib said he plans to renovate PIA planes, improve maintenance and flight schedule, and bring in new aircraft to revive the carrier.

Habib said he sees the region comprising the UK, the US and Canada as a “lucrative market” for the airline’s business. 

“There we can increase the frequency of the flight,” he said. “We will also try to run flights to Canada from Karachi, Lahore, and I think it’s already in Islamabad.”