Latest news with #priceIncrease
Arab News
13 hours ago
- Business
- Arab News
Pakistan approves 10 percent gas price hike for industry, power plants under IMF conditions
KARACHI: Pakistan on Friday approved a 10 percent increase in natural gas prices for industrial users and power plants starting next month, in line with reforms mandated by the International Monetary Fund (IMF) to ensure cost recovery and tariff rationalization, an official statement said. The decision was taken by the Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb. While prices for bulk consumers and gas-fired power plants will rise, household consumers will be shielded from the increase. 'To protect household consumers, gas prices will remain unchanged, with only fixed charges revised,' the Finance Division said in a statement released after the meeting. 'However, prices for bulk consumers, industrial units and power plants will be increased by an average of 10 percent.' The statement said the revised pricing structure, submitted by the Petroleum Division, complies with regulatory obligations under the OGRA Ordinance and meets structural benchmarks under Pakistan's ongoing loan program with the IMF. It also supports a shift from cross-subsidies to direct, targeted assistance for low-income consumers. DEFENSE GRANT The ECC also approved a Rs15.8 billion ($55.3 million) supplementary grant for the Ministry of Defense to cover a shortfall in salaries, allowances and pending dues. The funding includes disbursements under the prime minister's compensation package for martyrs of the recent Pakistan-India war fought last month. In a separate decision, the committee gave in-principle approval to launch a risk coverage scheme for small farmers and underserved regions by August 14. The program is expected to bring 750,000 new borrowers into the formal credit system and unlock a Rs300 billion ($1.05 billion) agricultural loan portfolio over three years (FY2026-28). The statement said the total budgetary support for the scheme, covering risk coverage and bank operating costs, is estimated at Rs37.5 billion ($131.25 million), to be disbursed between FY2027 and FY2031. The government has directed relevant ministries to incorporate additional safeguards before the official rollout.
Android Authority
3 days ago
- Business
- Android Authority
You've got one week to stock up on Philips Hue gear before a tariff-fueled price hike
We'd usually advise most shoppers to wait until Prime Day to get the best prices on tech, but smart home buyers in the US may want to consider stocking up in the next week. Philips Hue devices are already on the costly side, but it has now been confirmed that prices will increase from July 1. The unsurprising reason is the impact of US tariffs. After alluding to the price hike in a marketing email, Hue's parent company, Signify, confirmed the increases in a statement to HueBlog. No further details about the scale of the increases have yet been revealed, but the company also spelled out that it wouldn't necessarily be the last tariff-related price adjustment. ''Signify will increase prices on our Philips Hue portfolio in the US, effective July 1, 2025, as a direct result of tariffs. We remain committed to providing consumers with high-quality products and features that make smart lighting extraordinary,' — Signify statement As bad as this news is for smart home fans, it's an incentive for those looking to bolster their smart home setup to act quickly. While the official Hue store will show the price changes from the first day of July, it may take a bit longer for the increases to filter through to retail stores, so it's worth shopping around if you're late to the news.
Yahoo
31-05-2025
- Automotive
- Yahoo
7 Luxury Vehicles Expected To Skyrocket in Price Due To Trump's Tariffs
If President Donald Trump's tariffs stay in effect, it's likely that car prices will surge. Luxury car prices are particularly vulnerable to large price increases, according to a new report from Jerry. The analysis found that luxury vehicles will be hit with 21.2% average estimated tariffs, or $21,600 per car. Here's a look at the luxury cars that are expected to see the biggest price increases if tariffs go into effect, as identified by Jerry. Find Out: Read Next: Approximate base price: $604,000 Estimated price after tariffs: $753,000 Approximate base price: $503,000 Estimated price after tariffs: $627,000 See More: Approximate base price: $320,000 Estimated price after tariffs: $400,000 Approximate base price: $241,000 Estimated price after tariffs: $302,000 Approximate base price: $162,000 Estimated price after tariffs: $196,000 Approximate base price: $161,000 Estimated price after tariffs: $184,000 Approximate base price: $128,000 Estimated price after tariffs: $159,000 More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper Class in 2025 Warren Buffett: 10 Things Poor People Waste Money On This article originally appeared on 7 Luxury Vehicles Expected To Skyrocket in Price Due To Trump's Tariffs
Yahoo
31-05-2025
- Automotive
- Yahoo
7 Luxury Vehicles Expected To Skyrocket in Price Due To Trump's Tariffs
If President Donald Trump's tariffs stay in effect, it's likely that car prices will surge. Luxury car prices are particularly vulnerable to large price increases, according to a new report from Jerry. The analysis found that luxury vehicles will be hit with 21.2% average estimated tariffs, or $21,600 per car. Here's a look at the luxury cars that are expected to see the biggest price increases if tariffs go into effect, as identified by Jerry. Find Out: Read Next: Approximate base price: $604,000 Estimated price after tariffs: $753,000 Approximate base price: $503,000 Estimated price after tariffs: $627,000 See More: Approximate base price: $320,000 Estimated price after tariffs: $400,000 Approximate base price: $241,000 Estimated price after tariffs: $302,000 Approximate base price: $162,000 Estimated price after tariffs: $196,000 Approximate base price: $161,000 Estimated price after tariffs: $184,000 Approximate base price: $128,000 Estimated price after tariffs: $159,000 More From GOBankingRates These 10 Used Cars Will Last Longer Than an Average New Vehicle Clever Ways To Save Money That Actually Work in 2025 This article originally appeared on 7 Luxury Vehicles Expected To Skyrocket in Price Due To Trump's Tariffs Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
29-05-2025
- Business
- Wall Street Journal
The Economic Arguments That Launched the Suits Against Trump Tariffs
President Trump claims tariffs will make the U.S. rich. A coalition of states and small businesses dealt a blow to his trade war by arguing the opposite. On Wednesday, the U.S. Court of International Trade sided with 12 states and a handful of small-business owners in ruling that Trump didn't have the authority to impose sweeping tariffs. These states, which all have Democratic attorneys general, included a basic argument to justify the suit: The levies will lift prices for things they buy.
