The Water and Power Development Authority (Wapda) has sought about a 91 per cent increase in its revenue requirement to Rs365 billion for the current fiscal year (FY26), up from Rs191bn in FY23. This would translate into an estimated 90pc increase in the bulk hydropower rate to about Rs11.55 per unit (kilowatt hour) from Rs6.10 per unit, an official told Dawn. The additional revenue of about
The Senate Standing Committee on Finance and Revenue on Wednesday recommended that members and staff of the Pakistan Virtual Asset Regulatory Authority (PVARA) be barred from trading in virtual assets. The committee also suggested placing the authority under the Finance Division rather than the Cabinet Division. During discussions on the government’s Virtual Assets Bill 2025, PMLN Senator Af
Gold prices in Pakistan surged to new all-time highs on Wednesday, continuing the upward trend in the global market. The price of 10 grams of 24kt gold reached Rs322,959, while one tola of the precious metal soared to Rs376,700, marking an increase of Rs5,144 and Rs6,000, respectively, compared to Tuesday’s rates. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the
The government surpassed its target in Wednesday’s treasury bill auction, raising Rs515.2bn, with banks offering more than three times the targeted amount. However, despite the oversubscription, the cut-off yields remained largely unchanged, with a slight reduction of 14bps for one-month papers, bringing the yield down from 10.89pc to 10.75pc. The government raised Rs402.7bn through the dire
Despite a slump in exports and the devastating impact of recent floods, the Pakistan Stock Exchange (PSX) continued its bullish trend, marking the fourth consecutive session of gains. The benchmark KSE-100 index surged past the 152,000-point barrier, reaching an all-time high, buoyed by strong performances from the cement and fertiliser sectors. Ahsan Mehanti of Arif Habib Corporation attrib