Cabinet nods privatisation of 13 power division entities
ISLAMABAD: Cabinet has greenlighted privatisation of 13 entities under Pakistan's Power Division, including nine power distribution companies. Sources told that out of 11 government-owned power distribution companies, nine have been included in priva...
NEPRA confirms overbilling by all DISCOS including K-Electric
ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has confirmed electricity overbilling by all power distributing companies (DISCOs) including K-Electric, in April and June and sought an explanation from companies on matter. According t...
Pakistan’s economy stabilized following IMF agreement, S&P reports
ISLAMABAD: The Standard & Poor (S&P) Global has declared the Pakistani economy stable after the International Monetary Fund (IMF) $7 billion deal. S&P Global Ratings affirmed its ‘CCC+’ long-term sovereign credit rating and &l...
Substantial petrol price decrease expected from August 1
ISLAMABAD: Following a decline in global oil prices, Pakistan is expected to see a significant reduction in petroleum product prices from August 1. Petroleum prices likely to decrease by up to Rs11 per litre from the next fortnight The petrol price m...
Rupee sees marginal decline vs dollar
KARACHI; Rupee registered marginal decline, depreciating 0.06 percent against dollar in inter-bank market. At close, domestic unit settled at 278.66, loss of 0.16 paisa, against greenback. Globally, dollar and yen kept within close ranges on Tuesday...
Govt adamant on bringing agri into tax net: Aurangzeb
KARACHI: Minister for Finance and Revenue Muhammad Aurangzeb has brushed off concerns surrounding government's plans to bring largely under-taxed agriculture sector into revenue net. "I am grateful to chief ministers for agreeing to legislate t...
CM Maryam approves various uplift projects
Lahore: Punjab Chief Minister Maryam Nawaz accorded approval to construction of 450-kilometer long three new road corridors. CM Maryam gave formal assent to make new corridors in province in special meeting. Chairing meeting here, Maryam Nawaz said...
Electricity prices set to increase for Karachi consumers
KARACHI: K-Electric submitted request to National Electric Power Regulatory Authority (NEPRA) for an increase in electricity prices by Rs 5.45 per unit under monthly Fuel Cost Adjustment (FCA). Power utility seeks this increase for months of May and...
Taxes, capacity charges with power bills unacceptable: Naeem
ISLAMABAD: Strings of additional taxes and capacity charges have not been acceptable with electricity bills, Jamaat-e-Islami's Ameer Hafiz Naeem here said. "What capacity charges when government have shares in 52 percent of IPPs," JI Chief said. He c...
SBP reduces bps by 100bpts, takes it to 19.5pc
KARACHI: Monetary Policy Committee (MPC) of State Bank of Pakistan (SBP) reduced key policy rate by 100 basis points, taking it to 19.5 percent. "We have noted that inflation is on declining trend," SBP Governor Jameel Ahmad said as he addressed pres...
