While state-owned power distribution companies have sought an over 400 per cent increase in security deposits from consumers, two federal ministers advocated for cheaper electricity rates for industrial consumers and the rationalisation of the ‘disproportionate tax burden’ on the salaried class in the coming months. At an event organised by the Pakistan Business Council, Finance Minister Muhamm
Agriculture experts have stressed the need for community-based research to tackle the decline in onion production caused by climate change. The soaring price of onions, a staple in Pakistani cuisine, has placed them out of reach for many citizens. Experts pointed out that Sindh, contributing 38% to the nation's total onion production, faces significant challenges due to climatic shifts, emphasi
All Pakistan Textile Mills Association (Aptma) Southern Zone Chairman Naveed Ahmed has described the Economic Coordination Committee's (ECC) recent decision to increase gas tariff for captive power plants (CPPs) from Rs3,000 per million British thermal units (mmBtu) to Rs3,500 per mmBtu as anti-export, which will be disastrous for the textile industry having 60% share in exports of the country.
The rupee experienced a minor decline against the US dollar, depreciating by 0.03% in the interbank market on Monday. By the close of trading, the rupee settled at 278.83, reflecting a loss of 8 paisa compared to the previous trading day. Over the past week, the rupee remained relatively stable, closing at 278.75, a slight drop from 278.71, according to the State Bank of Pakistan (SBP). Market
The monetary policy committee (MPC) of the State Bank of Pakistan (SBP), in its meeting on Monday, announced the sixth successive reduction in policy rate, bringing it down by 100 basis points (bps) to 12%, effective January 28, 2025. The decision comes amid key economic developments, including improved activity in the real sector, a cumulative surplus in current account, a significant increase