Prime Minister Shehbaz Sharif said on Sunday that low-income segments would be given a subsidy of Rs50 per litre under the petroleum relief package. The announcement comes days after the government increased the prices of all petroleum products, except the insignificant light diesel oil, by up to Rs13 per litre for the next fortnight. The finance ministry said the increase was caused by an i
It is needless to say that public transport is fundamental to sustainable urban development and the prosperity of cities. However, Pakistani cities lack a decent and affordable public transport system. This is despite the fact that the country is rapidly urbanising with a growing demand for safe, efficient, affordable and accessible public transport systems. Public transport in urban areas is g
The Pakistan Steel Mills (PSM) has opposed a bid by the Sui Southern Gas Company Ltd to take over its 1,400 acres for Rs43 billion, a valuation the mill’s management has described as “one-sided”. The takeover bid has been made against the mill’s outstanding liabilities that the gas company’s management has worked out at Rs48bn as of Dec 31, 2022. Informed sources told Dawn that the SSGCL ha
In a little over eight months of this fiscal year (between July 1, 2022, and March 3, 2023), the PML N-led federal coalition government borrowed Rs1.961 trillion from commercial banks to fill in fiscal gaps in its revenue and expenses. During the same period of the last year, the then PTI government had borrowed about one-third of this amount —Rs619 billion, according to the State Bank of Pakistan
Cherry-picking by investors led the index of representative stocks on the Pakistan Stock Exchange to post a small gain on Wednesday. Arif Habib Ltd said the KSE-100 index opened on the lower side owing to the ongoing political turbulence caused by the government’s attempt to arrest former premier Imran Khan. However, bulls quickly drove the index up to an intraday high of 193.69 points as in