The electricity demand has officially crashed and it would more than nullify a nominal decline in fuel cost next month through a subsequent higher increase in quarterly tariff adjustment, apparently due to induction of 21,000MW of generation capacity in last six years — equal to preceding 70 years since 1947. This was the crux of a public hearing called by the National Electric Power Regulatory
Federal Minister for Finance and Revenue Muhammad Aurangzeb on Thursday said that fundamental economic reforms were needed to make the existing IMF programme the last one for the country. Transformation of economy into an export-driven one necessitates structural reforms, only then could the country move forward in the next three years, the minister said in an interview with Voice of America a
n a significant development, the Pakistan Stock Exchange (PSX) surged to an all-time high as political calm and anticipation of approval of a $7 billion Extended Fund Facility (EFF) of the International Monetary Fund (IMF) bolstered investor confidence. In the morning, trading got off to a lacklustre start with the KSE-100 index hitting its intra-day low of 81,524.41 points before midday owing
The Asian Development Bank (ADB) said on Wednesday that rising political and institutional tensions in Pakistan may jeopardise its economic reforms agenda whose implementation is very critical for smooth inflows of foreign loans under the new International Monetary Fund (IMF) programme. In its Asian Development Outlook, the Manila-based lender projected only 2.8% economic growth for Pakistan in
During the tenure of Pakistan Tehreek-e-Insaf (PTI) and the Pakistan Democratic Movement (PDM) governments, the country received $9.81 billion from international financial institutions and foreign countries to fund various development projects. Pakistan paid a total of $889.16 million in interest on these loans during the five-year period. According to official documents, the Asian Developme