Pakistan has been grappling with persistent challenges in meeting the demand for natural gas, resulting from increasing energy needs, infrastructure limitations, and supply-demand gaps. Last year, domestic natural gas production in Pakistan experienced a decrease of approximately five per cent. Around 25pc of the country’s natural gas consumption is being met through imported LNG. The governmen
The demand for energy is on the rise due to economic expansion, population growth, and rapid technological advancements. However, the reliance on imported fossil fuels and energy supply limitations poses significant challenges to the country’s economic prospects. In response, the government aims to optimise the utilisation of local energy sources such as hydel, solar, wind, and Thar coal. The g
The Pakistani rupee has lost over 125 per cent of its value against the US dollar, sliding from Rs125 per dollar in June 2018 to Rs285 per dollar in June 2023. Several key factors have contributed to this situation, including a substantial trade deficit, diminished foreign exchange reserves, reduced foreign investment and the heavy burden of foreign debt servicing. These factors have had a detr
The stock market experienced subdued activity in the outgoing week primarily because of the prevailing uncertainty surrounding the completion of the International Monetary Fund (IMF) programme, said Arif Habib Ltd. On the economic front, Pakistan recorded a current account surplus of $255 million in May versus a surplus of $78m in April. Additionally, the government raised over Rs2.4 trillio
BUDGET 2023-24 that was passed by parliament yesterday after the introduction of large fiscal-tightening measures to sweeten it for the IMF might resuscitate the bailout deal with the Fund, stalled since last November. As Finance Minister Ishaq Dar said in his closing budget speech, the IMF’s concerns regarding the original budgeted deficit of 6.5pc of GDP have been largely addressed through th