The government has decided in principle to limit the powers of the Drug Regulatory Authority of Pakistan (Drap) and form a new, independent body specifically tasked with overseeing the pricing of life-saving drugs. The Pakistan Pharmaceutical Manufacturers’ Association (PPMA) has expressed optimism that the proposed regulatory body will expedite the resolution of pending drug pricing cases and
Privatisation Minister Abdul Aleem Khan on Sunday termed the national flag carrier “a white elephant”, claiming it had caused a loss of Rs830 billion to the national exchequer, so far. Speaking at a footwear exhibition in Lahore, he said that Pakistan International Airlines (PIA) was a burden on the government, but was quick to point out that the process of its privatisation was progressing sm
The government is considering a mechanism to impose a price equalisation levy, or surcharge, on wellhead gas to cross-subsidise protected residential consumers and industrial sectors, with an aim to relieve a Rs10-15 billion burden from the federal budget on account of annual subsidies enjoyed by the sector. The initiative is part of petroleum sector reforms under the Integrated Energy Plan, dr
Pakistan Stock Exchange (PSX) slightly dipped by nearly 80 points in a range-bound session on Wednesday in the backdrop of economic and political uncertainty in the country, which made investors jittery. Taking cue from Tuesday's gains, the KSE-100 index began the day on a robust note and climbed to the intra-day high of 77,800.04 points in early hours. However, the optimism proved short-lived
Pakistani currency dropped Rs0.05 and closed at Rs278.73 against the US dollar in the inter-bank market on Wednesday, maintaining its losing streak for the third consecutive day amid conflicting reports about the resumption of smuggling of foreign currencies from Pakistan to neighbouring countries. According to the State Bank of Pakistan (SBP) data, the rupee has cumulatively dropped Rs0.23 in