Country’s power sector circular debt swells to Rs2.31tr in FY23
Karachi: Despite massive increase in tariffs, circular debt stock of Pakistan’s power sector increased to Rs 2.31 trillion by end of June 2023, up from Rs 2.25 trillion at end of previous fiscal year (FY22)-Rs 57 billion or nearly 3 percent, hi...
‘Mafias within Discos’ feeling heat, says Power Division Secy
Karachi: Rashid Langrial, Power Division Secretary said ‘mafias’ within distribution companies (Discos) have started to feel heat, as government’s crackdown against electricity theft enters 12th day. Taking to social media platform...
IMF seeks report on smuggling of petroleum products
ISLAMABAD: International Monetary Fund (IMF) has sought report from Pakistan on smuggling of petroleum products. According to media reports IMF has expressed concern over smuggling of 120,000 tonnes petroleum products monthly. According to FBR sourc...
Gohar Ejaz vows unwavering commitment to economic growth, trade facilitation
ISLAMABAD: Caretaker Minister for Commerce, Industries and Production Dr. Gohar Ejaz expressed his unwavering commitment to fostering economic growth and facilitating trade. Chairing meeting with representatives from Pakistan Business Council (PBC),...
Innovative renewable energy solutions needed to curb current energy crisis: Experts
LAHORE: “Promoting energy affordability for export sector through regionally competitive tariffs, boosting investments for reliable energy supply and transmission system and increasing access are critical factors for boost economic growth in cu...
Cotton arrival surges 29.3pc in first two weeks of Sept: PCGA
Karachi: Cotton arrival in country witnessed significant increase of 29.3 percent as of September 15 compared to August 31, showed latest fortnightly data released by Pakistan Cotton Ginner’s Association (PCGA). As per report, total cotton arri...
Govt committed to putting national economy on sustainable growth trajectory: Sami tells WB
ISLAMABAD: Caretaker Minister for Planning, Development and Special Initiatives Muhammad Sami said government was committed to putting national economy on path of sustainable growth. During meeting with World Bank’s Country Director to Pakistan...
PM Kakar vows strong crackdown on smuggling industry
ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has emphasized a zero-tolerance policy towards illegal trade and announced a comprehensive plan to curb cross-border smuggling. Speaking at a press conference, he assured that strict measures...
SBP defies expectations, maintains 22% policy rate
State Bank of Pakistan (SBP) Keeps Policy Rate Steady at 22%: The SBP's Monetary Policy Committee (MPC) decided to maintain the policy rate unchanged following its recent meeting. The decision was based on various factors, including the downward traj...
Afghan Transit Trade key reason of black economy in Pakistan: Report
KARACHI: Afghan Transit Trade leaves negative impact over national economy and has been one of basic reasons of black economy prevailing in Pakistan. According to report Afghan authorities misstate about prices of Aghan Transit Trade items, which res...
