Prime Minister Shehbaz Sharif arrived in Riyadh today for a two-day official visit to Saudi Arabia, marking another chapter in the enduring partnership between the two nations. This visit comes amid shared regional challenges and opportunities for collaboration, underscoring Pakistan’s commitment to strengthening ties with the Kingdom. Upon his arrival at King Khalid International Airport, Prime Minister Sharif was received by Riyadh’s Deputy Governor, Prince Muhammad bin Abdulrahman bin Abdulaziz, alongside Pakistan’s Ambassador to Saudi Arabia, Ahmed Farooq, and senior Saudi officials. The warm reception highlighted the strategic importance of Pakistan-Saudi relations. Agenda of the Visit During this visit, Prime Minister Sharif will participate in the One Water Summit , a critical platform that brings together global leaders to address water security issues. Organized in collaboration with Saudi Arabia, France, Kazakhstan, and the World Bank, the summit aims to develop s...
The impending announcement of a potential increase in petrol prices has sparked concerns among the public in Pakistan. Speculations have arisen that petrol prices may surge by Rs50 per litre starting from April 1. This article explores the factors contributing to this possible price hike and the impact it may have on the country's business and economy. The IMF's Demand for GST Reintroduction: According to reports, the International Monetary Fund (IMF) has been urging the Pakistani government to reintroduce the Goods and Services Tax (GST) at a standard rate of 18%. If the authorities concede to this demand, it could lead to a substantial increase in petrol prices. The estimated rise without taxes is already set at Rs10 per litre. Factors Driving the Price Increase: The recent surge in petrol prices is attributed to multiple factors. One significant factor is the increase in the premium on petrol, which has risen from $12.15 per barrel to $13.50 per barrel. This increment of $1....