The government has approved the maintenance dredging of a navigational channel of Gwadar Port with an escalated cost of Rs4.7 billion – a drastic increase from Rs1bn estimated in June 2022 – to avoid any mishap to cargo ships or imposition of penalties from Chinese port operators for business loss. The navigation channel of the port was last cleared in 2014-15 but had since developed sedimentat
Manufacturers have increased the prices of various milk products including baby formula. The rate of one litre tetra milk pack has been raised to Rs250 effective Feb 20 from Rs230 while it was available at Rs220 in October 2022. A retailer said that the company raised Nido 1 plus 900-gram and 375- gram rates to Rs1,780 and Rs770 as compared to Rs1,360 and Rs640, while 800-gram and 375-gram
As the International Monetary Fund and the government currently discussing a plan to rescue Pakistan’s economy, Human Rights Watch (HRW) has proposed that the Fund should work with Islamabad to strengthen social protection and mitigate harm to the most vulnerable by advancing economic rights. IMF should work with the government by broadening social protection systems and minimising reform measu
A number of petrol pumps in several major and small cities of Punjab have been facing severe shortage of petrol, annoying motorists who were seen waiting in long queues at petrol pumps to buy the commodity. The situation seems worst in some major cities like Lahore, Gujranwala and Faisalabad where several petrol pumps have either no or meager supply of petrol for the last many days allegedly du
For the first time the dollar rate against the rupee in the ‘grey market’ fell significantly lower than that of the open market on Tuesday, reflecting a loss of attraction for dollars smuggling to Afghanistan. The dollar sold at Rs273 in the grey market, dubbed the Kabul market, and at Rs282 in the open market. The situation has changed after the free-floating of the exchange rate in Pakistan.