The private sector’s contribution to the economy, if bank borrowing is taken as an indicator, has come down drastically over the last 18 months. Data recently issued by the State Bank of Pakistan (SBP) reveal that the sector was unable to stage a meaningful recovery during the first four months (July-October) of FY24. The data show a repeat of FY23 when the private sector’s borrowing from ba
The demand for liquefied petroleum gas (LPG) will surge to 15,000 tonnes a day in coming years from the current 4,500-5,000 tonnes as this is the only sector which has shown robust growth. Oil and Gas Regulatory Authority (Ogra) Chairman Masroor Khan said that two to three years back, LPG demand was 2,500 tonnes per day. Addressing a press conference along with LPG stakeholders and leadershi
In one of the most damning indictments of malpractices and over-billing in the provision of electricity, the country’s power distribution companies have been accused of fleecing customers and overcharging them as much as 100pc. In a comprehensive inquiry, the National Electric Power Regulatory Authority (Nepra) has found that distribution companies across the country, without exception, were ov
Pakistan has been unable to secure a place on the schedule of the International Monetary Fund’s (IMF) executive board, at least until mid-December, for the approval of the staff-level agreement (SLA) and disbursement of $700 million. Informed sources said the Ministry of Finance had been trying its best to seek a date in the first week of December to ensure approval of SLA with Pakistan for t
The benchmark index of the Pakistan Stock Exchange (PSX) continued its upward journey in the outgoing week. The KSE-100 index maintained its unrelenting bullish momentum to finally settle at an all-time high of 61,691 points after gaining 4.4 per cent on a week-on-week basis, according to AKD Securities Ltd. Although the market participation witnessed a dip of 6.7pc from the preceding