Pakistan’s inflation rate is projected to climb to its highest monthly level in nearly two years during June 2026, primarily due to a surge in food prices associated with Eid-related demand, despite easing costs in fuel and utility sectors.

The federal government has revised petroleum levy rates on key fuel products while implementing a substantial reduction in domestic petroleum prices effective June 20, 2026.

The Federal Board of Revenue (FBR) has issued directives to all field formations nationwide to remain fully operational during regular office hours on June 27 and 28, 2026, as part of efforts to facilitate the collection of government revenues ahead of the fiscal year-end.

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday formally announced a substantial downward revision in petroleum product prices, reducing petrol by Rs74 per litre and high-speed diesel by Rs67 per litre.

ISLAMABAD: Petroleum consumers could receive significant relief from June 20 as the federal government is considering a reduction of more than Rs55 per litre in fuel prices amid a sharp decline in international crude oil markets.

The National Assembly Standing Committee on Finance and Revenue, under the chairmanship of Syed Naveed Qamar, has approved a proposal to impose a 5% withholding tax on income earned through digital and social media platforms as part of the Finance Bill 2026.