Even as the draft of the New Energy Vehicle Policy (NEVP) 2025-2030 predicts a 30 per cent share of new electric vehicles by 2030, 90pc by 2040, and 100pc by 2050, it has not seriously touched the main issue of removing decades-old vehicles responsible for polluting air quality and promoting smog. With business as usual, the government expects to increase its fuel import bill to $64 billion by
As of October 2024, the outstanding credit card portfolio in Pakistan stood at Rs8.5 billion, according to the State Bank’s Credit/Loans report. This represents approximately one per cent of the industry’s total consumer financing portfolio. While the financial sector has traditionally prioritised the mass consumer segment, there is significant potential to broaden its focus. Expanding into the
The government is struggling to bring about structural changes in the economy to achieve sustainable and inclusive economic growth with a focus on addressing the external balance of payments crisis. When the economic growth goes up to four per cent, the current account deficit rises, says Finance Minister Muhammad Aurangzeb. The average economic growth rate in three years was 1.7pc, and the cur
The government on Friday reduced the price of high speed diesel (HSD) and kept unchanged that of petrol for the next fortnight, ending December 31, in line with international prices. The finance ministry said Ogra had worked out the consumer prices of petroleum products, based on the price variations in the international market during the last two weeks. The ex-depot price of HSD was reduce
Pakistan’s electricity supply companies caused a staggering Rs660 billion loss to the national exchequer in the last fiscal year ending June 30, 2024, according to a recent Dawn report. To put this in perspective, this amount is 11 times the federal government’s Rs59.7bn budget for higher education last year. This comparison starkly highlights the depth of the structural problems afflicting Pakist