Trade ministers from around the world gathered in Abu Dhabi on Monday for a World Trade Organisation (WTO) meeting that aims to set new global commerce rules, but its ambitious chief Ngozi Okonjo-Iweala and delegates sought to curb expectations. The almost 30-year-old global watchdog, whose rules underpin 75 per cent of global commerce, tries to strike deals by consensus, but such efforts are b
Sales of Nestle Pakistan Limited (NPL) increased by 23.4 per cent to Rs200 billion in 2023 from Rs162.5bn in 2022. However, the profit-after-tax (PAT) marginally climbed to Rs16.5bn from Rs15bn. The company said that despite several external challenges, a focus on innovation and renovation and ensuring product availability, supported by investments behind the brands, helped in the revenue boost
ISLAMABAD: Commerce Minister Gohar Ejaz at the 13th World Trade Organisation Ministerial Conference (MC13) underscored the relentless onslaught of crises that have beleaguered member nations over the past years. Mr Ejaz’s remarks were delivered shortly after the inauguration of the MC13 in Abu Dhabi on Monday. The conference was presided over by Dr Thani bin Ahmed Al Zeyoudi, the UAE’s Minister
ISLAMABAD: All the power distribution companies (Discos) including K-Electric showed poor performance during 2022-23 against set targets, resulting in cumulative financial losses of about Rs1 trillion a year and adding more than Rs350 billion to the circular debt. Based on performance evaluation reports (PERs) of the Discos including KE, the National Electric Power Regulatory Authority (Nepra)
Days after ordering a probe into the record fuel cost adjustment (FCA) demanded by distribution companies, the power regulator approved the hike, which will put an additional strain of Rs55 billion on electricity users. In a remarkable turnaround on its proclamations, the National Electric Power Regulatory Authority (Nepra) notified the additional fuel cost adjustment (FCA) of Rs7.06 per uni