Industrial power consumers on Thursday criticised the revival of rising fuel costs in an unpredictable manner, despite the government’s commitments to declining electricity rates as a result of much-touted reforms in the sector and tariff renegotiations with power producers. At a public hearing on Rs1.27 per unit additional fuel cost adjustments demanded by distribution companies (Discos), the
Depicting a cautious outlook towards growth in Large-Scale Manufacturing (LSM), the Ministry of Finance (MoF) on Thursday presented a rising trajectory for inflation during May and June. “Inflation is projected to remain between 1.5-2.0 per cent in May, with a possible rise to 3.0-4.0pc by June”, significantly higher than a record low of 0.3pc in April, the MoF said in its Monthly Economic Upda
Amid growing official promotion of Bitcoin adoption, both the State Bank of Pakistan (SBP) and the Ministry of Finance (MoF) on Thursday said that cryptocurrency remains banned in the country and all its transactions are illegal under current regulations. During a meeting of the National Assembly’s Standing Committee on Finance and Revenue, Finance Secretary Imdadullah Bosal said that although
The Pakistan Stock Exchange (PSX) halted its three-day losing streak on Tuesday, posting modest gains on some value-hunting. However, the short-term market outlook remains bearish as investors exercise caution ahead of the unveiling of taxation measures for the next fiscal year. Ahsan Mehanti of Arif Habib Corporation noted that the equity market showed some recovery amid speculations in the pr
THE global experience shows that a cashless economy, where digital payments are the norm, may offer numerous economic benefits: increased convenience for consumers and businesses, greater transparency in financial transactions, enhanced security against fraud and theft, improved economic documentation, wider financial inclusion, lower tax evasion, etc. No wonder the world is moving fast towards