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Fuel price hike notification challenged in Peshawar High Court – SUCH TV
A lawyer on Saturday moved Peshawar High Court, challenging hike in prices of petroleum products by federal government.
Advocate Gul Daraz Khan filed a petition, requesting the court to declare as illegal and unconstitutional the notification issued by the government on March 6 whereby prices of petrol and diesel were increased by Rs55 per litre.
He also sought directives of court for government to withdraw the impugned notification. The petition filed through Advocate Salman Khan includes as respondents the president and prime minister of Pakistan through their principal secretaries, federal government through petroleum secretary and secretaries of Oil and Gas Regulatory Authority (Ogra) and finance department.
The petitioner stated that the prices of petrol and diesel were highly increased up to Rs55 per litre giving the reason that the decision was taken in the wake of war between Iran and Israel. He said that the act of respondents hit hard ordinary people in the country.
He contended that as per law and judgements of superior courts of Pakistan, elected representatives were servants of the people of Pakistan and every decision of government must be for the welfare and interest of citizens rather than to badly affect them.
It is unusual for a senior figure at the Bank to be so forthright on market movements.
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People walk past a Nike store in New York City, on April 2, 2025.
Kylie Cooper | Reuters
Nike announced a new round of layoffs Thursday affecting approximately 1,400 employees across the organization, mostly concentrated in its technology department.
In a note from COO Venkatesh Alagirisamy, the company said the layoffs were part of Nike’s broader “Win Now” turnaround strategy aiming to reshape its technology team, modernize its Air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams.
“Collectively, these changes will result in a reduction of approximately 1,400 roles in global operations, with the majority in technology,” Alagirisamy wrote. “These reductions are very hard for the teammates directly affected and for the teams around them, too.”
A Nike spokesperson said the layoffs are about better positioning the organization for the current pace of sports and accelerating its growth. The layoffs affect employees across North America, Asia and Europe and represent less than 2% of the company’s total global head count.
“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”
Affected employees will be notified beginning Thursday, Nike added.
CEO Elliott Hill has been working to turn Nike around after years of slumping sales. While Hill has made some initial progress, it’s come with some bumps in the road.
Nike announced 775 job cuts in January, primarily at its U.S.-based distribution centers, due to the company’s work in accelerating its use of automation. At the time, the company said the cuts are part of Nike’s goal to return to “long-term, profitable growth.”
Those layoffs came on top of a round of cuts last summer that affected less than 1% of Nike’s corporate staff as part of the company’s efforts to realign the business.
In its third fiscal quarter earnings report last month, the retailer warned that sales will continue to fall for the rest of the year, primarily led by an anticipated 20% decline in China during the current quarter.
— CNBC’s Jessica Golden contributed to this report.
A key reason for the layoffs is Meta’s increased spending in other areas of the company, including AI, for which it will this year spend $135bn (£100bn). This is roughly equal to the amount it has spent on AI in the previous three years combined, according to a person who viewed the memo.
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