The unexpected massive increase in petrol and diesel prices was widely felt as inflationary at the retail level and the State Bank of Pakistan (SBP) may have to review its decision of leaving the key interest rate unchanged. Many analysts believe that the inflation would be in the range of 30-31 per cent in the ongoing month which is against the SBP’s expectation to bring it down to 20-22pc.
National Electric Power Regulatory Authority (Nepra) Chairman Waseem Mukhtar has said there was no other option but to take some harsh decisions to make the power sector sustainable. Talking to the media after attending an energy conference on Saturday, the power sector regulator head said the situation has reached a point where such decisions have become imperative for the government and
Business leaders on Saturday said the massive hike in prices of petroleum products would further fuel the unprecedented inflation, intensify miseries for the common man and create serious issues for the industry due to the unbearably high cost of doing business. They criticised the caretaker government that it should have kept the prices of petroleum unchanged due to the falling landing cost of
The cash-strapped Pakistan International Airlines (PIA) reported a recovery in its flight operations on Sunday after managing to secure a Rs17 billion bank loan. The development comes after the national carrier reportedly grounded several aircraft as it struggles to secure funds to maintain its operations for the next few months. Some media reports had also claimed that the operations would be
The United States will continue to support credible elections in Pakistan that are free of violence and allow people to decide who rules them, says Elizabeth Horst, the US Deputy Secretary of State Responsible for Pakistan. Addressing a seminar at One UN Plaza, Ms Horst also urged Pakistan to continue to implement the reforms suggested by the International Monetary Fund (IMF) as that’s the only