The Power Division, on Tuesday, claimed that it had met the target of freezing circular debt at Rs2.310 trillion as of December 21, 2023, in its efforts to manage the power sector and address technical and commercial losses. The Power Division secretary informed a meeting of the Senate Standing Committee on Power, chaired by Senator Azam Nazeer Tarar, about this achievement. The Secretary of t
Pakistan’s power generation dropped by 2.4% to 8,314 Gigawatt hours (GWh) in January 2024 due to low demand in the system during the winter month. However, the cost of the fuel component in the overall production surprisingly surged by 23% to Rs13.79 per unit due to increased reliance on expensive fuels like imported gas, furnace oil, and diesel. According to data compiled by Arif Habib Limited,
The interim government has made major revisions to this fiscal year’s budget, significantly increasing the federal budget deficit to a new record high of Rs8.54 trillion but cutting the external loans estimates by over $6 billion due to the non-materialisation of Eurobonds and foreign commercial loans. On Tuesday, the Ministry of Finance released its new Annual Borrowing Plan, detailing the rev
THERE is no doubt that the first few years of this third decade of the 21st century have been filled by unexpected calamities across the continents. Covid-19 dealt such a blow to the world’s economy that even some wealthy countries faced recessionary conditions. The less wealthy, naturally, were beset by even more troubled times when the pandemic knocked on their door. Many had to close down fa
A high-level delegation of 25 top Pakistani business houses left for Saudi Arabia on Tuesday to participate in a conference to explore opportunities for boosting bilateral trade. The delegation, headed by Commerce Minister Gohar Ejaz, is scheduled to meet the Saudi counterpart at the sidelines of the conference on Wednesday. This marks the first business delegation trip to Saudi Arabia follo