In contrast to ongoing construction of an auto assembly plant in Hub for rolling out Skoda and Volkswagen vehicles, the existing auto players and vendors are in a state of paralysis due to severe paucity of foreign exchange and supply issues in parts. In a joint letter, Pakistan Automotive Manufacturers Association (PAMA) and Pakistan Association of Automotive Parts and Accessories Manufacturer
The rupee touched another all-time low on Thursday and the central bank’s reserves fell close to a precariously low level of $3 billion as the country continues to reel from economic and political turmoil. According to State Bank of Pakistan (SBP) data, its reserves dropped 16 per cent to $3.09bn — barely enough to cover less than three weeks of imports — in the week ending Jan 27 due to extern
After exhausting nearly all traditional sources of foreign exchange, it seems the government is now looking to tap the kindness of philanthropists to replenish its rapidly depleting dollar coffers. But unlike the recent fund-raising campaign for dams, where the government remained front and centre, an upcoming drive to generate free-of-cost dollars from abroad will likely be led by social worke
The National Electric Power Regulatory Authority (Nepra) indicated on Tuesday that it would reduce power tariff by Rs10.80 per unit for K-Electric (KE) consumers and by Rs2.32 per unit for the consumers of other power distribution companies (DISCOs) on account of fuel charge adjustment (FCA) for December 2022. The tariff reduction will reflect in the electricity bills of February 2023 where con
Iranian Consul General (CG) Mehran Movahedfar has voiced concern that despite cooperation in barter trade between the governments of Iran and Pakistan, no improvement has been made. “Difficulties are created in operations by the State Bank of Pakistan. Similar problems are faced by the companies exporting rice from Pakistan, due to which many enterprises have refused to continue cooperation,” h