Pakistan’s auto sector has witnessed a promising start to 2024, with car sales for January hitting 10,500 units, marking an 81% increase from December 2023’s 5,816 units. Including non-PAMA (Pakistan Automotive Manufacturers Association) members, car sales totalled 11,700 units, up 72% month-on-month. Despite a 5% year-on-year decline from January 2023’s 11,100 units, PAMA car sales in the firs
Sui Southern Gas Company Limited (SSGC) is awaiting the government’s approval signal to create a cost-effective gas import substitution of over $1 billion a year. This strategy involves reutilising closed wells and encouraging exploration firms to discover tight gas. The move comes as imported gas (Liquefied natural gas) has become unaffordable due to massive rupee devaluation in recent times.
Federal cabinet members remained divided on Tuesday over a proposed increase of up to 69% in gas prices, amid warnings that any delay beyond Thursday could cost Pakistan $1.2 billion, the last loan tranche from the International Monetary Fund. The Economic Coordination Committee (ECC) of the cabinet had to defer approval after supposedly pro-IMF programme cabinet members also spoke against the
The interim government spent Rs191 billion on development projects during the first seven months of this fiscal year – a sum that is over Rs300 billion or 61% less than the target and underscores the implications of tough economic conditions. The Ministry of Planning reported on Tuesday that the development expenditures amounted to just under Rs191 billion during July-January period of the curr
Bitcoin spiked above $50,000 on Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand. The cryptocurrency has enjoyed a strong run in recent months, fuelled by expectations US lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and let the public invest in crypto with