THE PDM government’s continuing inability to keep prices under control speaks volumes about the competency of its economic management team, currently led by a former finance minister who loves to make a great deal of his ‘extensive experience’. It has thus far failed to show any spine as far as the protection of ordinary citizens’ financial well-being is concerned. As a result, the public has l
The rate of consumer inflation shot back up to 24.5pc in Dec — after a temporary decline to 23.8pc in Nov — affecting the country’s rural population the most, as prices escalated by almost 29pc. The average six-month (July-December 2022) inflation increased to 25.02pc when compared to the same period in the previous year. It was more pronounced at about 28pc for rural areas — home to more than
As the price of chicken meat touched Rs650 per kilogramme on Tuesday, traders and poultry farmers warned that relative affordability of chicken may become a thing of the past, and soon it could become as pricey as beef in light of the feed crisis. They added the price could cross Rs800 per kg, almost equivalent to the red meat, as the live broiler chicken was being sold up to Rs370/kg in Islama
Oil consumption witnessed a year-on-year drop of 11 per cent in December and 19pc in 1HFY23 as demand for diesel, petrol and furnace oil remained depressed amid higher prices and plunging auto sales due to an overall economic slowdown. Oil sales dipped to 1.34 million tonnes in December 2022 from 1.507m tonnes in the same month last year. This is the lowest monthly sales number since the first
Dubai’s financial regulator said on Tuesday it upheld a $135.6 million fine on collapsed private equity firm Abraaj Group’s founder and former CEO Arif Naqvi “for his serious failings” in respect of the company. Dubai-based Abraaj was the largest buyout fund in the Middle East and North Africa until it collapsed in 2018 after investors raised concerns about the management of its $1 billion heal