The State Bank of Pakistan (SBP) on Monday reported the first current account surplus for the ongoing fiscal year in November. Despite low inflows and higher outflows for debt servicing, the current account was in surplus by $9 million in November compared to a deficit of $157m noted in the same month last year. However, the current account deficit (CAD) narrowed by almost 63pc to $1.16 bill
ISLAMABAD: The power regulator Nepra on Tuesday rejected objections raised by the power division over its overbilling investigation report finding massive irregularities to consumers and made it clear to take the regulatory process to the logical conclusion. The National Electric Power Regulatory Authority also appeared unconvinced by the power division’s move to charge Rs15,000 to Rs30,000 for
The amount of outstanding auto loans declined for the 17th consecutive month to Rs257 billion at the end of November from Rs264bn in October, depicting a fall of 2.6 per cent on a month-on-month basis and 24.4pc on a year-on-year basis. Data released by the State Bank of Pakistan (SBP) revealed that the total drop in the last 17 months was Rs111bn. At the end of June 2022, the auto financing st
The government borrowed seven times more from banks during the first five months of the current fiscal year while the budgetary borrowing is reaching close to the amount it borrowed during the entire FY23. The latest data issued by the State Bank of Pakistan (SBP) on Tuesday showed that the government borrowed Rs3.585 trillion from July 1 to Dec 8 FY24 against Rs516bn in the same period last ye
Despite a record 83 per cent power generation from cheaper domestic fuels, the Central Power Purchasing Agency (CPPA) on Tuesday sought a massive Rs4.66 per unit additional fuel cost adjustment (FCA) for ex-Wapda distribution companies (Discos) — almost 100pc higher than target — to generate another Rs34 billion in January 2024. This increase in FCA is on top of about 26pc increase in annua