FPCCI leader and Patron-in-Chief UBG S M Tanveer has expressed serious concerns over the continued use of industrial electricity tariffs as a tool for cross subsidy, warning that this approach is steadily eroding Pakistan’s industrial competitiveness and export capacity. He stated that industrial tariffs are currently carrying a cross subsidy burden ranging from Rs 4.5 to Rs 7 per unit, with a
Construction work continues on 10 key sites of Mohmand Dam Project at a satisfactory pace. After completion of the pit excavation in mid last year, the main dam rock fill has so far reached a height of 392 meter above mean sea level. Construction progress on the spillway currently stands at about 70percent. Structure works at the power house have also commenced after completion of surface excav
Pakistan’s current account moved back into deficit in December 2025 after posting a surplus in November 2025, mainly due to a rise in the goods import bill. The State Bank of Pakistan (SBP) on Monday reported that Pakistan’s current account recorded a deficit of USD244 million in December 2025, reversing a surplus of USD 98 million posted in November 2025. The shift was mainly driven by a sh
Oil prices edged up on Tuesday, bolstered by a weaker dollar, while markets watched President Donald Trump’s threats of higher US tariffs on European nations over his desire to buy Greenland. Brent futures rose 15 cents, or 0.2%, to $64.09 a barrel at 0430 GMT.The US West Texas Intermediate crude contract for February, which expires on Tuesday, was up 14 cents, or 0.2%, to $59.58. The more a
Oil and Gas Development Company Limited (OGDCL), one of Pakistan’s largest exploration and production (E&P) companies, has discovered oil and gas reserves at the Baragzai X-01 (Slant) exploratory well in District Kohat, Khyber Pakhtunkhwa. The listed E&P disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. “We are pleased to inform that OGDCL, operator of