In an update to its Asian Development Outlook, ADB said that the inflation rate has dropped in the country to a minimum level in two years, which is expected to go further down. The growth rate of Pakistan is likely to remain at 2.8 percent in the ongoing year, ADB predicted. The growth rate was […]
Chairman of All Pakistan Textile Mills Association (APTMA), Asif Inam, has said that the most expensive electricity is being provided to mills in the country. Chairman APTMA has said that the corporate tax in Pakistan has risen to double in comparison to neighboring India. He said the cement factories are being run at 10 to […]
According to the Fund’s Executive Board’s calendar on its website, the Board would consider “Pakistan – 2024 Article IV Consultation and Request for an Extended Arrangement under the Extended Fund Facility”. Finance Minister Muhammad Aurangzeb said the IMF board is likely to approve the program during today’s meeting. The finance minister expressed optimism, stating that […]
According to details, owners of four independent power producers (IPPs) set up under the 1994 policy and another, established under the 2002 policy, have been warned of consequences if they don’t terminate the power purchase agreements (PPAs) voluntarily, the sources said. The task force has asked the owners of the IPPs to end capacity charges […]
In response to queries from lawmakers, Parliamentary Secretary of the Industries and Commerce Department, Ali Ahmed, told the house that the provincial government is extending cooperation to industrialists. However, Leader of Opposition Ali Khurshid expressed dissatisfaction with the responses, seeking information on the number of industrial units closed and new ones established between 2018 and […]
The world’s second-largest economy has yet to achieve a highly anticipated post-pandemic recovery, and the government has set a goal of five percent growth in 2024 — an objective analysts say is optimistic given the headwinds it is facing. On Tuesday, central bank chief Pan Gongsheng told a news conference in Beijing that it would […]
In August 2024, power generation in Pakistan declined by 17.4% compared to August 2023, reaching 13,179 gigawatt-hours (GWh) or 17,714 megawatts (MW), according to AHL Research report. This is a significant drop compared to 15,959 GWh (21,450 MW) during the same period last year. On a month-over-month (MoM) basis, power generation witnessed a dip of […]
Kuwait Airways said in a press release on Sunday that these measures align with directives from the Government Performance Follow-up Agency to the company’s board of directors and the Public Investment Authority. The airline informed it implemented all necessary procedures to address issues related to this contract. Kuwait Airways said it is committed to adhering […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279 and Rs 280.7 respectively. The price of the Euro decreased by 1.79 paise to close at Rs 308.40 against the last day’s closing of Rs 310.19, according to the State […]
This was revealed in a meeting of the Senate Standing Committee on Industries headed by Senator Saifullah Abro. The meeting was also attended by officials of the State Bank of Pakistan (SBP). During the meeting, a major revelation was made by JUI-F Senator Kamran Murtaza. Murtaza claimed commercial banks in Pakistan earned Rs65 billion by […]
