LAHORE: The total cost of free electricity units being used by the state-owned entities in the country’s power sector alone ranges between Rs22 billion and Rs25bn per annum whereas the allowances being given to other government departments’ employees from grade 1 to 22 are also worth billions, leaving the government with no option but to pass on such a huge financial impact to consumers. Howeve
A competitive cost of energy, particularly electricity tariffs, and its uninterrupted supply are essential for oiling the industry’s wheels. Rejecting the recent hike in electricity bills, the Federation of Pakistan Chambers of Commerce and Industries said it was “debilitating both for residential and commercial consumers, with inflation already killing businesses and rendering them unprofitable a
Bears tightened their grip on the Pakistan Stock Exchange (PSX) on Thursday as the benchmark index plummeted by around 1,250 points, or 2.7 per cent, driven by concerns about the country’s faltering economy, rumours of an impending interest rate hike, and the persistent depreciation of the rupee. It was the year’s second-biggest overnight decline in the benchmark KSE-100 index in terms of point
THE bloodbath at the stock market on Thursday is just another grim reminder of all that is wrong with the economy. The fundamentals continue to worsen — faster than before — as the country hurtles towards yet another financial disaster amid political uncertainty. The fresh losses suffered by the stock market over the last few days are just one symptom of declining economic conditions exacerbate
WHILE the debate on whether or not inflation and foreign currency and debt pressure will continue, and what effect they will have on aggregates like exchange rates, growth and solvency, is important, the real impact will be felt by the people of this country. Most of the impact is being felt by the lower- to middle-income groups. We really have to start thinking about what can be done by the state