Pakistan’s National Electricity Policy 2021 pledges that a “sustainable renewable energy market shall be developed, with a progressively increasing share in power generation as per the Indicative Generation Capacity Expansion Plan (IGCEP) based on the least cost principle.” However, the latest IGCEP 2024-34 iteration, which outlines the country’s future energy generation strategy over a 10-year
The PML-N-led coalition government began the new fiscal year (2024-25) with an increase in petrol and high-speed diesel prices by Rs7.45 and Rs9.56 per litre, respectively, for the next fortnight. In a late-night announcement, the Ministry of Finance said prices of petroleum products have seen an increasing trend in the international market during the last fortnight. The Oil and Gas Regulatory
Headline inflation for June clocked in at 12.6 per cent on the year, data from the Pakistan Bureau of Statistics (PBS) showed on Monday. The reading is higher than the 11.8pc year-on-year rise in May, but is well below the average reading of 23.4pc for the financial year which ended June 30. Month on month, the headline consumer inflation, measured by a basket of goods and services called th
After a record price cut of Rs1.513 million in the last week of April, Lucky Motor Corporation Ltd (LMCL) jacked up the price of Kia Stonic by Rs733,000 on Monday. The company slashed the Stonic price to Rs4.767m from Rs6.280m, which changed the vehicle’s sales fortune. Due to its high prices and intense market competition, the vehicle had been facing sluggish demand. Currently, the vehicle pri
The government announced on Monday that the annual inflation for 2023-24 exceeded its budgetary target, reaching a staggering 23.41 per cent owing to an increase in electricity, gas, and essential kitchen items. The projected target was 21pc for the outgoing fiscal year. According to data released by the Pakistan Bureau of Statistics on Monday, the average monthly inflation fluctuated over t