As all official imports of raw materials and finished goods are made on prevailing interbank dollar rates, consumers are forced to pay higher prices for gold and its related products as daily bullion rates are calculated on higher open market exchange rates. More surprisingly, official gold imports have been suspended for the last many years as claimed by bullion traders due to the paucity of d
The Senate Standing Committee on Power on Monday unanimously decided to summon through police the chief executive officer (CEO) of K-Electric and to move a privilege motion against him for continuous abstention from meetings of the panel. At the outset of the meeting presided over by Senator Saifullah Abro, the committee expressed its displeasure over the non-participation of K-Electric CEO Sye
Oil prices slid on Tuesday from their highest levels in a month on a stronger dollar and after the head of the International Monetary Fund warned of a tougher 2023 as major economies experience weakening activity. Brent crude futures dropped 98 cents, or 1.1 per cent, to $84.93 a barrel by 0148 GMT while US West Texas Intermediate crude was at $79.49 a barrel, down 77 cents, or 1pc, after the U
The rate of consumer inflation shot back up to 24.5pc in Dec — after a temporary decline to 23.8pc in Nov — affecting the country’s rural population the most, as prices escalated by almost 29pc. The average six-month (July-December 2022) inflation increased to 25.02pc when compared to the same period in the previous year. It was more pronounced at about 28pc for rural areas – home to more than
It was a tough year for the IT sector, with telecom operators and users taking the brunt, especially after a change of government in April and the belt-tightening that followed. Call and internet rates jumped and yet the service quality worsened and speeds slowed in 2022. Network outages intensified thanks to ‘connectivity load-shedding’ in the wake of hours-long power outages and rising fuel c