The government surrendered to another IMF demand on Wednesday, imposing a surcharge of up to Rs3.23 per unit on electricity consumers across the country from July 1. The move is aimed at generating Rs335 billion more in revenue over the next fiscal year to finance the power sector’s debt and liabilities. Consumers of K-Electric would be facing double jeopardy, as the government also gave the Ka
Last month, prices rose at the fastest pace ever in the country’s history, according to available data, with food, beverage and transport costs driving inflation to a point where analysts fear “families will have to make choices and sacrifices”. Monthly inflation, measured by a basket of products called the Consumer Price Index (CPI), jumped to 31.6 per cent in February year-on-year, the Pakist
The Pakistani rupee sank sharply by Rs18.74 against the dollar in the interbank market on Thursday, with the local currency trading at a historic high of Rs284.85 in morning trade, according to data shared by the Exchange Companies Association of Pakistan (Ecap). Analysts attributed the record drop — which is 7.04pc — to the government’s impasse with the International Monetary Fund (IMF). On
After oscillating within a short range, the prices of representative stocks inched up on Monday despite profit-taking by investors. Topline Securities said negative sentiments can be attributed to market reports that hinted at a further delay in the staff-level agreement with the International Monetary Fund (IMF). In addition, the market anticipated that the central bank’s monetary policy co
The worst part is that there seems to be no light at the end of this tunnel. Those in power keep repeating the same mistakes and the poor end up paying the price. Wara Irfan Published February 28, 2023 Updated 2 minutes ago Someone sleeps hungry tonight. Or at least tries to. It’s not really easy to sleep on an empty stomach. Or when your ears are ringing with the hunger-induced screams of