Business
Stats overhaul: New inflation and GDP base year series slated for February; IIP to follow in May – The Times of India
India’s key macroeconomic indicators are set for a base-year reset early next year, with the government announcing timelines for releasing new series of retail inflation, national accounts and industrial production data, PTI reported.The Ministry of Statistics and Programme Implementation (MoSPI) said on Monday that a new series of Consumer Price Index (CPI) data, reflecting a revised base year, will be released in February 2026, alongside updated national accounts data, while the revised Index of Industrial Production (IIP) series will be rolled out in May.According to an official statement, a new CPI series with base year 2024=100 is scheduled for release on February 12, 2026. The revised National Accounts data, with 2022-23 as the base year, will follow on February 27, 2026. The new IIP series, also using 2022-23 as the base year, is slated for release on May 28.Ahead of the data rollout, the ministry has convened a pre-release consultative workshop on the base revision of GDP, CPI and IIP on Tuesday. This follows an earlier workshop held in Mumbai on November 26.The primary objective of the consultation is to share proposed methodological and structural changes in the revised data series and seek feedback from stakeholders, the statement said.The workshop will bring together economists, subject matter experts, representatives from financial institutions and the banking sector, users of official statistics, and senior officials from central and state governments. The ministry said participation from a wide range of stakeholders is expected to enrich discussions and help users better understand the changes in the revised series.The event will be attended by NITI Aayog Vice Chairman Suman K Bery as chief guest, along with Chief Economic Advisor V Anantha Nageswaran, MoSPI Secretary Saurabh Garg and Director General (Central Statistics) N K Santoshi.
Business
Co-op boss quits after ‘toxic culture’ claims reported by BBC
Co-op chair Debbie White said: “We thank Shirine for her leadership and for the significant contribution she has made to our Co-op, to our communities and to the co-operative movement during her tenure. The Board is grateful for her commitment and leadership, particularly during a challenging few years, and we wish her every success in the future.”
Business
Airfares likely to doubled as jet fuel price aurges to Rs417 in Pakistan – SUCH TV
Air travel is all set to become highly expensive as the airlines are indicating at doubling the air ticket prices following a whopping increase in jet fuel rate.
The jet fuel price has rocketed to Rs417 from Rs388 per litre in Pakistan and the airlines have started to increase the airfares through enhancing fuel surcharge rates.
The airlines maintained the basic fare but added the fuel price surge into the fuel surcharge.
The one-way fare from Karachi to Islamabad and Lahore has shot up to Rs40,000 while air travel on chance seats for Islamabad and Lahore has soared by 150 percent.
Accordingly, the Pakistan International Airlines (PIA) has boosted the airfares by 10 to 100 dollars.
Domestic flights will now carry additional $10 fuel surcharge which on Canada routes extra $100 will be received as fuel charge.
Passengers on UK-bound flights to pay 75 dollars additional surcharge while 50 dollars will be received on Middle East routes.
Private airlines have gone a step ahead as they enforced charging additional 15 dollars to 150 dollars on different routes.
The airlines were under pressure after closure of many air routes with the airlines administrations are saying that extraordinary rise in airfares has become inevitable.
Earlier on Wednesday, Pakistan fuel NOTAM forced foreign airlines to tanker Jet A-1 fuel from abroad and limit uplift at Karachi and Lahore airports.
The Pakistan Airports Authority issued the order to protect local supplies amid supply disruptions.
Foreign carriers now arrive with enough fuel for their return flights while Pakistani airlines receive full requirements.
This change hit operations on March 25 when one Karachi-to-Doha flight diverted to Muscat.
The Pakistan fuel NOTAM A0147/26 took effect on March 13 and runs through March 31 2026. It targets Jinnah International Airport in Karachi and Allama Iqbal International Airport in Lahore.
Airlines follow the rule and carry maximum fuel on inbound legs. Officials confirm foreign airlines get only the minimum quantity inside Pakistan.
Pakistan fuel NOTAM creates immediate changes on the ground. Foreign airlines offload passenger baggage and cargo to stay within weight limits.
The extra fuel adds weight that reduces payload capacity on every affected flight.
According to a Notice to Airmen (NOTAM) issued by the PAA, the supply of aviation fuel at domestic airports has been significantly curtailed due to regional supply chain disruptions, advising international carriers to maximize their fuel “uplift” at foreign stations and minimize refuelling within Pakistan.
The directive has already begun to impact international flight schedules.
Business
NS&I set to pay millions to customers over misplaced funds
The government-backed bank has been accused of a series of errors, including not paying bereaved families money that was rightfully theirs.
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