logo
Prices of essential goods soar in Pindi

Prices of essential goods soar in Pindi

Express Tribune5 days ago

Market analysts caution that IMF-related measures in the upcoming FY2026 budget—particularly new taxes and adjustments in energy prices—may lead to a renewed spike in inflation. PHOTO: FILE
The adverse effects of the federal and provincial budgets have rattled wholesale markets, trading hubs, and commercial centres across the board as prices of essential food items and commodities have surged dramatically.
Starting next week, butchers, bakers, and milk vendors are also expected to announce substantial price increases, further straining low-income households.
In the open market, sugar was sold at Rs190/kg, cooking oil Rs530 per litre, ghee Rs500 per kg, daal masoor Rs600 per kg, white chickpeas Rs415 per kg, daal chana Rs350 per kg, mutton Rs2,400 per kg, beef Rs1,400 per kg.
Vendors charged Rs200–400 per kg for apples, Rs250–300 per kg for mangoes, Rs200–250 per dozen for bananas, Rs350 per kg for plum, Rs300 per kg for peaches, Rs60 per kg for watermelons, Rs100 per kg for melons, Rs200–250 per kg for apricots, Rs400 per box for cherries, and Rs300 per kg for falsa (Grewia).
In vegetables, potatoes were sold at Rs70 per kg, onions Rs50 per kg, garlic Rs250 per kg, ginger Rs600 per kg, tomatoes Rs50–60 per kg, lemons Rs400 per kg, bitter gourd Rs100 per kg, cucumber Rs70 per kg, cauliflower Rs130 per kg, arvi (taro root) Rs200 per kg, green chilies Rs150 per kg, and fresh coriander Rs30 per bunch.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Words of caution from Summer Davos
Words of caution from Summer Davos

Business Recorder

time6 hours ago

  • Business Recorder

Words of caution from Summer Davos

EDITORIAL: It's not every day that the president of the World Economic Forum warns of a 'decade of lower growth.' But that's precisely the message Børge Brende delivered at Summer Davos in Tianjin — a sobering forecast that goes beyond the usual Davos-speak of digital revolutions and climate partnerships. The world, he said, is entering its most geopolitically complex period in decades, and the headwinds facing global growth are intensifying, not fading. Markets have grown used to brushing off geopolitical shocks. The pandemic was followed by a rapid recovery. Russia's invasion of Ukraine triggered initial panic, but portfolio flows resumed quickly. Even the Israel–Iran war, despite its high stakes, has not yet translated into a prolonged financial crisis. But the accumulation of risks — trade fragmentation, armed conflict, political instability — is beginning to show up in macro projections. Both the World Bank and IMF have now revised global growth forecasts for 2025 downward, from 2.7pc to around 2.3pc. That may not sound catastrophic, but in a world fuelled by debt and liquidity, even a half-point drag on global GDP has wide-ranging implications. It affects not just trade flows and commodity demand, but sovereign debt sustainability, social stability, and the room central banks have to ease. Brende's warning is timely, not just because of the numbers, but because of the structural shifts underway. The world isn't simply in a slowdown — it's in the early stages of a strategic reordering. The US-China trade war, once dismissed as a Trump-era anomaly, is now institutionalised policy. China, which still accounts for about 30 percent of global growth, is shifting inward — away from export dependency and toward domestic consumption and digital services. That transition is necessary, but it's not without turbulence. Beijing's real estate market remains fragile, consumer confidence is uneven, and supply chain recalibrations are far from complete. If the Chinese engine sputters, the rest of the world will feel it. In parallel, the multilateral trade order that underpinned decades of growth is losing traction. New regional blocs, tariff walls, and subsidy races have become the norm. The return of industrial policy may excite national planners, but it fragments global efficiency. When war in one region sends insurance premiums, energy costs, and shipping rates soaring, it becomes harder to pretend these shocks are local. They're systemic—and cumulative. What's particularly worrying is that none of this exists in isolation. As Brende pointed out, the traditional lines between economic and security policy are now blurred. Conflict doesn't just disrupt supply chains; it drives trade strategy. Currency wars give way to chip bans. Defence deals morph into energy alliances. And through it all, global governance institutions struggle to keep pace. For developing economies, including Pakistan, this complexity is doubly dangerous. Growth in the Global South has historically ridden the coattails of open trade, capital flows, and commodity cycles. Now, with a flipped interest rate cycle, declining aid flows, and a global turn inward, that model is under pressure. And while the wealthy world debates reshoring and AI regulation, developing countries are facing food inflation, energy volatility, and climate shocks without the fiscal space to absorb them. The point is not that growth will vanish. It won't. But its sources, reliability, and beneficiaries are shifting. If the coming decade is marked by structural fragmentation and political brinkmanship, growth will become a more selective story—dependent on stability, institutional strength, and geopolitical alignment. Brende's message, then, isn't just a warning. It's a challenge to policymakers who still act like the post-2008 playbook applies. It doesn't. The new normal is one of overlapping crises, diminishing buffers, and increasingly short market patience. Anyone not preparing for that reality is setting themselves up for failure. Copyright Business Recorder, 2025

Sovereign default risk: Pakistan most improved economy: Bloomberg
Sovereign default risk: Pakistan most improved economy: Bloomberg

Business Recorder

time6 hours ago

  • Business Recorder

Sovereign default risk: Pakistan most improved economy: Bloomberg

ISLAMABAD: Pakistan stands out globally as the most improved economy in terms of reduction in sovereign default risk, as measured by CDS-implied probability. As per the latest data posted by Bloomberg Intelligence, Pakistan leads the world in sovereign risk improvement and tops global EM rankings. Pakistan topped Global EM Rankings in Default Risk Reduction, as the country has recorded the largest drop in sovereign default risk globally over the last 12 months. Pakistan leads emerging markets in sovereign risk recovery, says Bloomberg Intelligence According the data received here on Saturday, default probability down from 59 percent to 47 percent, a massive 1,100 basis points improvement. This marks the sharpest decline among major emerging markets, ahead of Argentina (-7 percent), Tunisia (-4 percent), and Nigeria (-5 percent). In contrast, countries like Turkey, Ecuador, Egypt, and Gabon have seen their default risks rise. This sharp decline in Pakistan's risk signals renewed investor confidence—fuelled by macroeconomic stabilization, structural reforms, successful IMF engagement & timely debt repayments, besides improved credit outlooks by S&P, Fitch, and others. This is a resounding signal to global investors: Pakistan is not only back on the map—it is moving forward with stability, credibility, and reform at its core.

Heavier gas burden
Heavier gas burden

Express Tribune

time6 hours ago

  • Express Tribune

Heavier gas burden

Listen to article As Pakistan's economic managers scramble to plug widening fiscal gaps and meet IMF benchmarks, the weight of their decisions continues to fall squarely on those least able to bear it. The latest move — a 50% increase in fixed charges on residential gas bills — is yet another blow to already struggling households. Without changing the per-unit gas tariff, the state has quietly increased the mandatory monthly cost of gas, turning an essential utility into a luxury for many. The decision, approved by the Economic Coordination Committee (ECC) of the Cabinet, will push fixed charges for protected domestic consumers from Rs400 to Rs600, regardless of how little gas they actually consume. This disproportionately penalises low-income households — the very segment these "protected" categories are meant to shield. Even those who use minimal gas to conserve energy will now see their bills swell, simply for staying connected to the grid. The timing of the decision — just days before the start of the new fiscal year — is also telling. It reflects the Finance Ministry's growing reliance on regressive measures to meet revenue targets in the face of mounting debt obligations. Furthermore, gas tariffs for non-residential consumers — including industries and power plants — have been increased by an average of 10%. While this may be aimed at rationalising subsidies and improving circular debt recovery, it risks compounding inflationary pressures and stifling industrial competitiveness. Yet, no clear roadmap has been presented for energy sector diversification or investment in sustainable alternatives. The lack of a progressive taxation model and repeated reliance on indirect levies do not show fiscal prudence and are making survival harder for ordinary Pakistanis. Austerity without accountability is not reform. And unless the state starts prioritising equity in its fiscal decisions, public trust will continue to deteriorate.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store