The quantum of remittances increased to almost $3 billion in March, taking it to the highest level since April 2022, primarily due to Ramazan, according to the central bank’s data. The total remittances in March stood at $2.95bn compared to $2.25bn in Feb, a month-on-month increase of 31.2pc. The year-on-year increase was 16.4pc, compared to the inflows of $2.54bn in March 2023. This is the
Consumers will pay Rs4.92 per unit extra next month for electricity consumed in February, after the power regulator approved the hike as additional fuel cost adjustment (FCA). The National Electric Power Regulatory Authority (Nepra) notified the increase on Monday. It will impact consumers of all ex-Wapda distribution companies (Discos), generating a net financial impact of about Rs45bn. T
Amid ongoing economic optimism, the stock market maintained a robust outlook, extending a surprise record-breaking spree in the last days of Ramazan by scaling a new peak in the outgoing short week. Arif Habib Ltd (AHL) said the market continued its positive momentum throughout the four-day trading week, hitting an all-time high above the 68,000 level. The market sentiment was fuelled by a sha
Some 40 per cent of Pakistanis continue to live below the poverty line with little in sight to hope for better days. The country’s economic growth of 2.5pc recorded in July-September 2023 faltered to just 1pc in the next quarter. Overall growth in the current fiscal year (July 2023-June 2024) may hardly hit the 2pc mark amid persisting political instability, deteriorating security environment, ris
The energy value chain cannot be fixed without reforming electricity distribution companies. The inability to fix the chain and make electricity more affordable will continue to keep Pakistan stuck in a low-growth trap while accelerating de-industrialisation. The electricity distribution companies (Discos) are plagued with multiple problems, from governance and pricing to operations. For any re