Amid a major drop in demand, public sector power companies have sought a 57 paise per unit negative fuel price adjustment (FCA) in electricity bills to refund Rs7.2 billion overcharged to consumers last month. This will be the second month in a row that FCAs remain negative, mainly because of robust fuel allowances allowed by the National Electric Power Regulatory Authority (Nepra) through a 20
Amid a downward trajectory in the interest rates, auto financing declined for the 26th consecutive month to Rs227.3 billion in August from Rs228bn in July. As per the State Bank of Pakistan (SBP) data, the outstanding auto loan registered a massive fall of Rs140.7bn from Rs368bn in June 2022. The State Bank of Pakistan (SBP) reduced the interest rate for the first time in nearly three years
The government rejected all bids for treasury bills on Wednesday, apparently to borrow at a cheaper rate in the next auction. The State Bank of Pakistan reduced its policy rate by 200 basis points to 17.5 per cent on Sept 12, and cut-off yields on T-bills were already at this rate before the announcement. The market experts termed the move surprising since the government depends mainly on ba
The State Bank of Pakistan (SBP) has said that the balance sheet footing of the banking sector expanded by 11.5 per cent in H1CY24, mainly driven by investments in government securities. In its Mid-Year Performance Review on the Banking Sector for 2024, released on Wednesday, the central bank noted that the government remained the primary borrower of banking money, which doubled the profits of
Exports of raw food items continued to increase in the current fiscal year, with a 42.39 per cent gain in the first two months compared to the same period of the previous year. The value of raw food exports reached $1.01 billion in July-August from $710.65 million over the corresponding months of last year, according to data compiled by the Pakistan Bureau of Statistics. In FY24, the raw foo