Pakistan’s February inflation drops to more than nine-year low at 1.5 percent

Pakistan’s February inflation drops to more than nine-year low at 1.5 percent
A customer buys vegetables from a stall at a market in Karachi on July 3, 2023. (AFP/file)
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Updated 03 March 2025
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Pakistan’s February inflation drops to more than nine-year low at 1.5 percent

Pakistan’s February inflation drops to more than nine-year low at 1.5 percent
  • This is down from a multi-decade high of around 40 percent in May 2023
  • Consumer price index stood at 2.4 percent in Jan. and 23.1 percent in Feb. 2024

ISLAMABAD: Pakistan’s monthly inflation dropped to 1.5 percent in February on a year-on-year basis, the country’s statistics bureau said on Monday, which was the lowest in more than nine years.
The consumer price index (CPI) inflation stood at 2.4 percent in the month of January and 23.1 percent in Feb. 2024, according to the Pakistan Bureau of Statistics (PBS).
On a month-on-month basis, it decreased by 0.8 percent in February as compared to an increase of 0.2 percent in the previous month and no change in February 2024. This was down from a multi-decade high of around 40 percent in May 2023.
“The lowest inflation last time was nine years and five months ago in September 2015, when it reached 1.3 percent,” Information Minister Attaullah Tarar said at a press conference on Monday, hailing a decline in policy rate to 12 percent.
The commodities whose prices increased from corresponding month of the previous year included pulses, potatoes, fresh fruits, butter, honey, milk powder, meat, vegetable, ghee, fish, milk products, cooking oil and sugar, according to the PBS.
The items whose prices decreased in Feb. included onions, tomatoes, wheat flour, tea, eggs, rice, bakery and confectionary items, and chicken.
 


Pakistan to table 27th constitutional amendment in Senate today, law minister says

Pakistan to table 27th constitutional amendment in Senate today, law minister says
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Pakistan to table 27th constitutional amendment in Senate today, law minister says

Pakistan to table 27th constitutional amendment in Senate today, law minister says
  • A key coalition partner earlier voiced support for three clauses, including one relating to structure of military command
  • The 27th amendment follows 26th amendment, passed in Oct. 2024, which gave parliament role in appointing top judge

ISLAMABAD: The Pakistani government will present the proposed 27th constitutional amendment in the Senate today, Law Minister Azam Nazeer Tarar said on Saturday.

Tarar told reporters in Islamabad a meeting of the federal cabinet, presided over by Prime Minister Shehbaz Sharif through a video link from Baku, discussed key changes under the proposed 27th constitutional amendment.

According to political leaders, the amendment proposes creating a new constitutional court, restoring executive magistrates, revising the distribution of federal revenue among provinces under the National Finance Commission (NFC) and making changes to how senior judges and military leadership appointments are structured within the constitution.

The government had been holding consultations with parties in the governing alliance, including the Pakistan Peoples Party (PPP), the Muttahida Qaumi Movement (MQM) and the Pakistan Muslim League-Quaid (PML-Q), in a bid to secure the two-thirds parliamentary majority required for constitutional changes.

“The things which have been agreed on, after consultations... there has been a consensus over the establishment of a constitutional court,” Tarar said.

“Now the proposal for a separate federal constitution court will be referred to parliament in the form of a bill, and as I said, parliament will decide on it after a debate.”

It has been proposed in the bill that the transfer of judges be handled by the Judicial Commission of Pakistan and provincial cabinet threshold of 11 percent be increased to 13 percent for smaller province like Khyber Pakhtunkhwa and Balochistan, according to the law minister.

Speaking about Article 243, which concerns the structure of the armed forces’ command, Tarar said the recent Pakistan-India war had taught a lot of lessons, including the fact that the contours of war have changed.

“So regarding this, appointments and their processes, which were in the Army Act but could not be discussed at the time of the 1973 Constitution, one of which is the role of the field marshal... it has been deemed necessary to discuss this,” he said.

“It has been suggested that the titles you give to national heroes, this is also a ceremonial title alongside being a rank, so it has been suggested that this should remain with them for lifetime... As far as their command is concerned, it will continue to be regulated as per the law.”

Tarar’s statement came hours after the PPP, a key coalition partner, said it supported amending Article 243, establishing a constitutional court and managing judges’ transfers.

While the draft of the 27th amendment is yet to be tabled in parliament, its most contentious element involves potential revisions to the National Finance Commission (NFC), which determines how federal tax revenue is shared among provinces.

The PPP, which spearheaded the 18th amendment in 2010 to expand provincial autonomy, has consistently opposed any measures that would dilute the financial or administrative powers of the federating units.

“NFC allocations can increase for provinces but cannot be reduced,” PPP Chairman Bilawal Bhutto-Zardari said at a news conference late Friday, stressing that the constitutional protection of provincial financial rights “cannot be compromised.”

The Pakistan Tehreek-e-Insaf (PTI), the main opposition party led by former PM Imran Khan, has vowed to oppose the 27th amendment and demanded full disclosure of the draft before it reaches parliament.

In Pakistan, constitutional amendments have historically been used to reshape the balance of power between the legislature, judiciary and provinces.

The proposed 27th amendment follows the 26th amendment passed in October 2024, which gave parliament a role in appointing the chief justice and created a new panel of senior judges to hear constitutional cases, measures critics said weakened judicial independence.

Pakistan’s constitution, adopted in 1973, has been amended more than two dozen times, often reflecting shifts in authority among civilian governments and the military. Provisions governing the NFC award are among the most politically sensitive because they underpin the country’s federal structure and provincial autonomy.