Amid countrywide protests over high electricity prices, the Power Division has virtually bombarded the power regulator with three separate sets of quarterly adjustments for K-Electric to clear the backlog for uniformity with consumers of ex-Wapda Distribution Companies (Discos), for simultaneous and overlapping application of 47 paise, Rs1.49-Rs4.45 and Rs3.55 per unit additional charges. The p
Equity investors are closely watching the upcoming State Bank of Pakistan’s Monetary Policy Committee (MPC) meeting on Sept 14, anticipating a 200 basis points hike in key interest rates and its potential impact on inflation and economic stability. Simultaneously, all eyes are on an impending visit by a Saudi Arabian delegation, poised to unveil investment plans in Pakistan’s mineral, mining, a
“Riots were triggered off by soaring prices, by malpractices, or by hunger. But these grievances operated within a popular consensus as to what were legitimate and what were illegitimate practices...” E.P. Thompson’s influential 1971 piece on food price and scarcity riots documented a deeper sense of norms and obligations found within 18th-century English society. It laid out what ordinary peop
Exorbitant electricity bills are not the main problem, though it is hard to agree when over half the salary is spent paying it. The issue lies in the breakup of consumption — households, for over two decades, have been the main consumers of electricity instead of productive sectors such as industry. In India, for example, residential consumption of energy is 24pc, industrial is 42pc and agricul
Foreign banks are now demanding a 10 per cent commission to endorse letters of credit (LC) for importable consignments, banking insiders revealed on Saturday. They said the move came as the country grapples with economic challenges, diminishing the confidence of global financial institutions in its banking system. The rupee’s depreciation, coupled with foreign exchange reserves and debt serv