The fast erosion of foreign exchange reserves has made it doubtful for the State Bank of Pakistan (SBP) to reach the $13 billion target by the end of FY25. During the last two weeks, the SBP forex holdings witnessed an outflow of $371 million higher than the $300m loan United Bank Ltd arranged for the country recently. The central bank reported on Thursday that the reserves fell $143m to $11
The Senate Standing Committee on Industries and Production on Thursday proposed the installation of charging units for electric vehicles at every fuel station to promote eco-friendly transport. The committee chairman, Senator Aon Abbas, expressed concern over the regulatory mechanism of the new energy and renewal energy. “Who is controlling the prices of solar panels? And who is disrupting
The federal government has asked the governments of four provinces, Azad Jammu & Kashmir and Gilgit-Baltistan to implement building codes for energy conservation. This initiative applies to public sector projects, private commercial buildings, and housing structures. It also includes guidelines for restricting urban expansion to minimise energy losses and reduce the need for investments in powe
Pakistan Stock Exchange (PSX) on Wednesday started the new year on a strong note as it rose to a record high, driven by extensive buying that pushed the KSE-100 index up by nearly 1,900 points. The market's positive performance was powered by increasing confidence of local and institutional investors, which reflected their trust in Pakistan's economy. Besides, the rally came after monetary p
Planning Minister Professor Ahsan Iqbal on Wednesday directed developing a medium-term framework for deregulating sugar industry, stressing industries to ensure data uniformity, crop zoning and backward integration. He passed the directives while chairing a meeting of the Prime Minister's Committee on Sugar stocking, forecasting and planning, notified in December last to develop a foolproof sys