The power regulator Nepra has announced a significant fuel cost adjustment (FCA) of Rs4.13 per unit for users of government-owned distribution companies (Discos), marking a substantial financial impact of about Rs35 billion. This adjustment relates to electricity consumed in November and will be reflected in the January bills of consumers, except those in the lifeline category and K-Electric us
The overnight bearish sentiments proved short-lived as a surge in merchandise exports with a sharp contraction in trade deficit during December and a stable rupee fuelled selective buying propelling the benchmark KSE 100-share index above 65,000 level in the intra-day trade. The benchmark index witnessed wild swings posting an intra-day high of 895 points to 65,244.60 and a dip of 130.06 points
AFTER a commendable long period of uninterrupted decline in poverty rates, Pakistan’s economy is now facing one of its worst crises. Poor policy choices, combined with a series of shocks — Covid 19, the 2022 catastrophic floods and adverse global conditions, caused growth to slow, poverty to increase, and brought the country to the brink of debt default. Moreover, human development outcomes remain
THE State Bank Governor’s Annual Report for FY2023 is “cautiously optimistic” about the economy. It projects headline price inflation to drop, the current account deficit to narrow, and GDP to expand during the ongoing fiscal year. However, the report warns, this outlook hinges on the absence of adverse shocks stemming from geopolitical tensions, unforeseen climate events and unfavourable movem
The rupee snapped its 13-session winning streak as it lost three paise against the US dollar to Rs281.89 in the interbank market on Tuesday. However, market experts said the meagre gain didn’t reflect a comeback of the bullish dollar which hit an all-time high of Rs307 against the local currency on Sept 5, 2023. “The depreciation is negligible and does not indicate that the dollar will keep