Prime Minister Shehbaz Sharif on Monday directed authorities concerned to take steps to reduce circular debt in the energy sector and decided to restrict market timings till 8pm to save energy. In a meeting chaired by the prime minister on energy sector, its participants considered adoption of a comprehensive strategy to control the present circular debt in oil and gas sectors. According t
The cost of fuel for electricity generation in November went down by more than one-third to Rs5.99 per unit from a month ago, according to data recently released by the National Electric Power Regulatory Authority. A 27.1pc reduction in the cost of coal-based electricity contributed to the overall drop of 33.6 per cent in the average fuel cost in November, according to Tahir Abbas, head of rese
Oil prices edged up on Tuesday, supported by a softer dollar and a United States plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising Covid-19 cases in top oil importer China. Brent crude futures were up 24 cents, or 0.3 per cent, at $80.04 a barrel at 0402 GMT, adding to a 76-cent gain in the previous session. US West Texas Intermediate (WTI) cr
Pakistan is trying to narrow gaps with the International Monetary Fund (IMF) over revenue collection projection for the next seven months (December-June) in a bid to end the uncertainty that has stemmed from the delay in the 9th review of the Extended Fund Facility (EFF) programme, Dawn learnt from official sources on Monday. The fund officials estimate a shortfall of Rs422 billion in FY23, whi
Share prices oscillated within a narrow range on Wednesday before closing on a slightly higher level on the back of unfavourable economic sentiments and political instability. Arif Habib Ltd said investors remained on the sidelines even though the exploration and production sector caught the limelight on expectations about a gas price hike. Buying interest in selected blue-chip stocks helped