In an interesting observation, National Electric Power Regulatory Authority (Nepra) Chairman Waseem Mukhtar on Wednesday asked the power companies to downplay Rs1.89 per unit additional quarterly tariff adjustments on account of the fourth quarter (April-June) of FY24 and instead project only 96 paise per unit increase. During a public hearing on fuel cost adjustment (FCA) for July, the Nepra c
The economy suffered substantial trade losses due to a countrywide strike called by the business community against high power bills and increasing tax burden on Wednesday, overshadowing claims of a major victory, while industrial activities exhibited a mixed trend due to various factors. Industrialists’ bodies supported the strike by traders, while also urging the government to revise contracts
The stock market continued its southward journey on Tuesday amid growing security concerns and economic uncertainty about securing the IMF board’s approval for the new loan programme. Additionally, a nationwide strike call by the opposition for August 28 against the rising cost of electricity, gas, food, etc., supported by all the major chambers and traders associations across the country, depr
I used to walk an hour to work every day because I couldn’t afford any form of transportation,” said Ashraf*, who earns around minimum income while trading in cryptocurrencies on the side. Showing photos of his brand new Kia Sportage worth Rs9 million ($32,000), Ashraf proudly talks about his new three-story home and the state-of-the-art solar system he has installed, all courtesy of his investmen
Shell Pakistan Ltd (SPL) on Monday reported a 62.85 per cent decline in its profit-after-tax (PAT) to Rs1.3 billion for the half year ended on June 30 compared to Rs 3.5bn in the same period of 2023. The board of directors announced that the company’s sales rose slightly to Rs223bn in January-June compared to Rs215bn in the corresponding period last year.SPL maintained its market share through