In order to meet the IMF’s mid-February deadline, the Oil and Gas Regulatory Authority (Ogra) made significant concessions to the gas utilities — SNGPL and SSGC — to extract another Rs100 billion from consumers over the next four months through an increase of 9 to 35 per cent in tariffs. The decision comes as part of the government’s commitment to the International Monetary Fund, promising to
ISLAMABAD: A day after the Election Commission of Pakistan (ECP) barred the caretakers from taking any step vis-à-vis Pakistan International Airlines (PIA), including its privatisation, the federal cabinet on Tuesday approved a plan for restructuring of the national flag carrier. The decision was taken at a meeting presided over by caretaker Prime Minister Anwaarul Haq Kakar. The ECP had ask
Coordinator Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI), Ziaul Haq Sarhadi, has suggested issuing special passes to truck drivers transporting cargo goods between Pakistan and Afghanistan. In a press statement released on Friday, Sarhadi said the suggestion is based on streamlining and smoothing of Pak-Afghan trade which recently halted for ten days over conditions of visas by tr
The failure of caretaker administration to finalise a mechanism for urea delivery to farmers is leading to a multibillion-rupee scandal, resulting in the plunder of money by fertiliser dealers. Already, the government has imported 220,000 tons of urea costing nearly Rs30 billion, which was sent to National Fertiliser Marketing Limited (NFML) warehouses on December 25 last year. However, the
Global gross domestic product (GDP) growth is projected to ease to 2.9% in 2024 from 3.1% in 2023, before recovering to 3.0% in 2025 as financial conditions ease, according to the outlook released Monday by the Organisation for Economic Cooperation and Development (OECD). Annual GDP growth in the United States would moderate to 2.1% in 2024 and 1.7% in 2025 while it’s expected to remain support