The government plans to embark on a 10-year transition strategy to shift from gas to electricity in commercial, industrial and residential sectors, and push energy-efficient buildings under a Rs45 billion energy efficiency and conservation project, which envisages energy savings of over Rs500bn a year. The project was formally cleared by the Central Development Working Party a few days ago for
The export-oriented businesses of Pakistan are unlikely to sustain the burden of additional billions of rupees amid the withdrawal of subsidised electricity, restricted imports, all-time high-interest rates, and the rupee’s devaluation against the US dollar. President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Irfan Iqbal Sheikh said the private sector in Pakistan is unde
The Sindh High Court has ordered that the status quo be maintained with respect to the attempt by a Turkish investor to buy more than 51 per cent shares and control of Tri-Star Power Ltd, a publicly listed electricity producer. The power producer said on Monday the court order follows the suit it filed for a permanent injunction against Aykut Calikusu — a high net-worth individual from Turkey w
Due to the Ramazan factor, the remittances sent by overseas Pakistani workers grew 27.4 per cent month-on-month in March, but the country lost $2.5 billion in the first nine months of FY23 due to an artificial exchange rate cap. The State Bank of Pakistan (SBP) reported on Monday that remittances rose to $2.5bn in March against $1.9bn in February. However, the inflows dipped 10.71pc when compar
The financial markets of any country are essential for its economic growth. About one out of 100 people in Bangladesh invests in the stock market, while 4.5 per cent of India’s population is involved in the financial markets. Considering these figures, it seems certain that the proportion of Pakistani investors would fall in the same range. However, the figure is quite dismal, with only 0.1pc o