ISLAMABAD: The Ministry of Finance has asked the Petroleum Division to allocate gas supply to the Fauji Fertiliser Bin Qasim Limited (FFBL) plant from a new discovery made by Pakistan Petroleum Limited (PPL). Earlier, the caretaker government approved an increase in the allocation of gas for third parties from 10% to 35% to tackle the growing circular debt and help exploration companies improve
KARACHI: Indus Motor Company (IMC) has announced a six-day shutdown of its production plant owing to the shortage of auto parts and components. In a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday, the automaker said that production would remain suspended from March 6 to 11. “Based on the current low level of inventory of manufactured vehicles, and shortage of parts and compone
ISLAMABAD: The textile industry has cautioned the Special Investment Facilitation Council (SIFC) about the likelihood of further declines in exports due to the absence of a financially viable energy source for the industry. It has proposed a set of measures to enhance the competitiveness of textile exports in the global market. It pointed out the lack of a financially viable energy source for t
KARACHI: Gold price soared on Wednesday to a six-month high of Rs225,400 per tola (11.66 grams) as the precious metal took cue from the rising global market that touched an all-time high. On the other hand, the Pakistani rupee maintained its downtick for the fourth consecutive working day and closed at Rs279.35 against the US dollar in the inter-bank market. According to State Bank of Pakist
LAHORE: The National Electric Power Regulatory Authority (NEPRA) has disclosed that high electricity costs were one of the contributing factors to the decline of the economic growth rate to a mere 0.29% in the financial year 2022-23. According to NEPRA’s State of the Industry Report 2023, the high cost of electricity in Pakistan has emerged as a critical challenge affecting all segments of soci