National Electric Power Regulatory Authority (Nepra) Chairman Waseem Mukhtar has said there was no other option but to take some harsh decisions to make the power sector sustainable. Talking to the media after attending an energy conference on Saturday, the power sector regulator head said the situation has reached a point where such decisions have become imperative for the government and
Business leaders on Saturday said the massive hike in prices of petroleum products would further fuel the unprecedented inflation, intensify miseries for the common man and create serious issues for the industry due to the unbearably high cost of doing business. They criticised the caretaker government that it should have kept the prices of petroleum unchanged due to the falling landing cost of
The cash-strapped Pakistan International Airlines (PIA) reported a recovery in its flight operations on Sunday after managing to secure a Rs17 billion bank loan. The development comes after the national carrier reportedly grounded several aircraft as it struggles to secure funds to maintain its operations for the next few months. Some media reports had also claimed that the operations would be
The United States will continue to support credible elections in Pakistan that are free of violence and allow people to decide who rules them, says Elizabeth Horst, the US Deputy Secretary of State Responsible for Pakistan. Addressing a seminar at One UN Plaza, Ms Horst also urged Pakistan to continue to implement the reforms suggested by the International Monetary Fund (IMF) as that’s the only
Amid rising interest payments and disruptions caused by a change in government, Pakistan’s development expenditure has nearly come to a standstill, with just Rs22.5 billion spent in the first two months (July-August) of the fiscal year, against an annual budget allocation of Rs950bn. According to data from the ministry of planning and development, the actual expenditure on core development in t