Amid consumers’ opposition, the National Electric Power Regulatory Authority (Nepra) reserved judgment on the government’s request for reducing electricity subsidy by about Rs20 billion through about Rs6.02 per unit increase in K-Electric’s consumer-end tariff from April to June.While concluding the public hearing on a petition filed by the Power Division for a hike in KE’s consumer tariff, Nepra
Amid a persistent slowdown in construction activities, domestic cement sales dropped year-on-year 29 per cent to 3.356 million tonnes in March.Despite a 48.46pc year-on-year jump to 438,433 tonnes in March, the export shipments witnessed a fall of 35pc during July-March of 2022-23. As per the data released by All Pakistan Cement Manufacturers Association (APCMA), total cement despatches — expor
Pakistan’s exports of merchandise shrank for the seventh month in a row dipping by 14.76 per cent year-on-year to $2.36 billion in March, reflecting fear of massive layoffs in the export sector of the country. In the first nine months (July to March) of 2022-23, exports were down 9.87pc at $21.04bn compared to $23.35bn in the corresponding period last year, according to data released by the Pak
The country has produced 34 per cent less cotton this year as compared with the crop yield last season, reveals data with Pakistan Cotton Ginners Association (PCGA). The final figures for the crop year 2022-23 show that Pakistan produced 4,912,069 bales, the lowest in around four decades, of cotton against 7,441,833 in the 2021-22 season, a year-on-year decline of 2,528,764 bales or 34pc loss.
The State Bank of Pakistan (SBP) has decided to hike the policy rate by 100 basis points (bps) to 21 per cent, its highest-ever level, according to a press release issued on Tuesday. The announcement came after a meeting of the bank’s Monetary Policy Committee (MPC). “The MPC noted that inflation in March 2023 rose further to 35.4pc, and is expected to remain high in the near term. However, the