
LPG prices decrease Rs7.51 per kg
The price of LPG domestic 11.8kg cylinder has declined from Rs2,838.31 in June to Rs2,750.60 for July. The producer price also came down by Rs87.71 from Rs2,350.97 to Rs2,263.26 for July.
According to OGRA, the LPG producer price is linked with Saudi Aramco-CP and US dollar exchange rate. As compared to the previous month, Saudi Aramco-CP has decreased by 4.29 percent.
The average dollar exchange rate has slightly increased by 0.47 percent resulting to decrease in LPG consumer price by Rs88.71/11.8kg cylinder (3.1 per cent). The per kg decrease in LPG consumer price is Rs7.51.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Express Tribune
2 hours ago
- Express Tribune
Inflation falls sharply, undercuts tight policy
Listen to article The government has surpassed its annual inflation target, which increased at a pace of 4.5% in the last fiscal year, mainly because of a slump in food prices, reinforcing the widely held independent view that the extent of monetary tightening was excessive and unwarranted. The Pakistan Bureau of Statistics (PBS) reported on Tuesday that the average increase in the cost of a basket of essential goods and services stood at 4.5% for FY2024-25 — well below the official target of 12% and far lower than initial projections by the International Monetary Fund (IMF) and other multilateral lenders. The IMF had initially forecast inflation at 15%, later revising it downwards. However, these elevated projections pressured the central bank to maintain double-digit interest rates, which ultimately hurt economic growth. The central bank has kept the interest rates at 11%, which are far higher than the headline and average inflation rates for the just ended fiscal year. This solely benefited the commercial banks at the expense of businesses and the federal government that gives away around half of the total budget in interest payments. The current approach of maintaining 11% rates, while allocating Rs7.2 trillion for domestic debt servicing, ensures continued economic stagnation, whereas regional competitors strengthen their industrial bases and export capabilities, according to the Economic Policy and Business Development (EPBD). The government has allocated a total Rs8.2 trillion for debt servicing, which is equal to 46% of the approved budget for this fiscal year, which began on Tuesday. The EPBD, an independent think tank, stated last week that the Rs7.2 trillion was going to the banking sector as guaranteed profits. With 59% of government debt in floating-rate instruments, reducing policy rates from 11% to 6% would generate immediate savings on the majority of debt stock, it added. It further said that the government compounded this burden by issuing Rs2 trillion in fixed Pakistan Investment Bonds at peak rates of 22% during the last two fiscal years and locked in excessive costs for banks' benefit, according to the statement. The think tank stated that by reducing the interest rates to 6% because of substantial reduction in the inflation rates, the government can immediately save Rs3 trillion in the debt cost. Even a small portion of these savings can help generate jobs by lowering the cost of doing business, according to EPBD. The average inflation rate in rural areas remained at 3.3%, while it ended at 5.3% in the urban centres, according to the PBS. The annual inflation rate also eased to 3.2% in June, which was in line with the Finance Ministry's projection for the month. In its monthly economic outlook report, the ministry reported this week that the inflation was projected to remain between 3-4% in June. With the fresh inflation rate, the gap between headline inflation and the key policy rate of the SBP has widened to 7.8%. The Monetary Policy Committee last month left the policy rate unchanged 11% despite a persistent decline in inflation. For the new fiscal year, the government has approved a 7.5% inflation target, which still provides further room for reducing the interest rates. Core inflation, calculated after excluding energy and food items, has eased both in cities and towns. The rate slowed down to 6.9% in cities and 8.6% in rural areas, said the PBS. Urban annual inflation eased to 3% and it slightly accelerated to 3.6% in rural areas last month. The PBS reports inflation data from 35 cities and covers 356 consumer items. In rural areas, it covers 27 centres and 244 consumer items. The data showed that food prices again decelerated after picking up pace a month earlier. The food inflation rate in cities slowed down 4.2% but slightly increased to 2.4% in rural areas. The government has failed to fulfil its promise of keeping the prices of sugar in check, thanks to the decision of allowing exports last year. Sugar prices jumped one-fourth last month compared to a year ago, according to the PBS. The increase in sugar prices is also contributing to higher tax collection, as the government has linked the 18% sales tax on sugar with the fortnightly inflation rate. Eggs became expensive by 25%, milk powder 22% and meat 11%. Onion prices were still lower by 56% compared to a year ago, followed by 23% reduction in prices of tomatoes and wheat 17%. Electricity charges were lower by 30% last month, compared to a year, petrol was still 2% cheaper than last year despite increasing taxes.


Business Recorder
11 hours ago
- Business Recorder
Open market: currency dealers aim to double remittance inflows with increased margin in FY26
Currency dealers in the open market have projected to double the inflows of workers' remittances sent home by overseas Pakistanis in one year, aiming to attract $8-10 billion in the new fiscal year 2025-26 after the central bank jacked up their rate of margin to Rs22 a dollar with effect from Tuesday. According to the Exchange Companies Association of Pakistan (ECAP), the exchange companies (EC) attracted a total of $4 billion in the previous fiscal year ended June 30, 2025, while they were paid Rs2 for brining each dollar in Pakistan from expatriates. Pakistan receives record $4.1bn in remittances in March, says SBP governor Referring a circular of the State Bank of Pakistan (SBP) issued on Monday, ECAP Chairman Malik Bostan told the Business Recorder that the central bank has included exchange companies (ECs) in Pakistan Remittance Initiative (PRI), surging their rebate to Rs22/$ from Rs2/$ paid till June 30, 2025. 'Our inclusion in PRI has provided us (ECs/currency dealers) a level playing field,' he said. Banks in Pakistan attracted $33 billion in FY25, compared to $4 billion by exchange companies operating in the open market. ECs sold almost all the received workers' remittances of $4 billion in inter-bank market in FY25, helping the central bank to consolidate its foreign exchange reserves and finance trade deficit during the year. There are residing almost 15 million Pakistani expatriates in across the world with 70% of them living alone in two leading Middle Eastern countries namely Saudi Arabia and the United Arab Emirates (UAE). They sent a total of $35 billion in the first 11-month of FY25 from across the globe, up by 29% compared to the same period of FY24, it was learnt. ECAP chairman said Pakistani workers abroad collectively earn around $8 billion per month in salaries. 'If all of this money were sent to Pakistan, it could significantly strengthen our economy, reserves, and the Pakistani rupee. Right now, only $3–4 billion is being sent, while the remaining $4 billion is either being kept in foreign bank accounts or invested in places like Dubai, Europe, or the Middle East,' he said.


Business Recorder
a day ago
- Business Recorder
KATI opposes gas price hike decision
KARACHI: Junaid Naqi, President of the Korangi Association of Trade and Industry (KATI), has strongly opposed the federal government's decision to increase gas prices for the industrial sector, bulk consumers, and the power sector from July 1st, calling it 'disastrous' for Pakistan's already struggling economy. Naqi expressed deep concern over the move, stating that industries are already burdened with skyrocketing electricity, fuel, and raw material costs. 'Now, this increase in gas tariffs will deliver a serious blow to the economy,' he said. Gas, he added, is a critical raw material for several key sectors, particularly textiles, food processing, iron and steel, chemicals, and fertilizer, all of which will be directly impacted. He also criticized the government's simultaneous decision to raise fixed gas charges for domestic consumers by 50%, noting that the indirect financial burden would also eventually fall on industries. 'By shifting the weight of this increase onto the industrial sector, the government is once again treating businesses as scapegoats,' Naqi remarked. The KATI President warned that the hike in gas prices would not only raise production costs significantly but also render Pakistani exports uncompetitive in the global market. 'The government seems oblivious to the fact that a decline in exports directly affects foreign exchange reserves and slows down overall economic momentum,' he added. Naqi pointed out that independent power producers (IPPs), who rely on gas to generate electricity, would now produce even more expensive power, a cost that would ultimately be passed on to the public, small businesses, and the industrial sector alike. 'At a time when Pakistan desperately needs industry-friendly policies to stay afloat, such decisions are akin to stalling the wheels of economic activity,' he stressed. Referring to OGRA's approval of a 6.6% increase in gas tariffs for fiscal year 2025–26 to help gas companies recover a revenue target of Rs 890 billion, including Rs 354 billion for Karachi-based SSGC alone, Naqi said the industrial sector is being unfairly forced to shoulder the consequences of financial mismanagement by public gas utilities. Copyright Business Recorder, 2025