The Special Investment Facilitation Council (SIFC) has facilitated the energy sector by opening gas market for the private sector, which is expected to contribute Rs71 billion per year to circular debt reduction. Additionally, the government will collect Rs13 billion annually on account of sales tax. These remarks were made by Universal Gas Distribution Company CEO Ghiyas Abdullah Paracha. C
Sindh Minister for Livestock and Fisheries Muhammad Ali Malkani has said that the provincial government is taking all necessary steps to increase seafood exports and is in contact with the federal government in this regard. Speaking during the Question Hour in the Sindh Assembly on Tuesday, Malkani replied to various written and supplementary questions from members. He informed the assembly tha
Rejecting the 1% cut in interest rate as tiny, industrialists and traders have asked the State Bank of Pakistan (SBP) to do more, with a view to boosting economic growth. They said the poor economic strategy of the government and the central bank dismayed the entire business community of the country. They called for a more holistic and pragmatic approach to monetary policy, one that aligns not
The International Monetary Fund (IMF) has not endorsed Pakistan's proposal to further reduce industrial electricity prices by Rs2.70 per unit through the complete elimination of cross-subsidies, which the sector is providing to shoulder subsidies to low-end residential consumers. Energy ministry sources told The Express Tribune that the ministry floated the proposal to further reduce electricit
Despite strong anticipation of a sixth straight cut in the interest rate at the monetary policy review meeting later in the evening, the Pakistan Stock Exchange on Monday witnessed a roller-coaster session mainly due to political instability, a hike in gas tariffs and disappointing corporate results. The Economic Coordination Committee’s decision to increase the gas tariff by almost 17pc for