The National Electric Power Regulatory Authority (Nepra) on Wednesday claimed that the average national power tariff would be cheaper by Rs1.6 per unit in the next two months compared to the first quarter of the year ending September due to quarterly adjustments. Nepra’s case officers told a public hearing presided over by regulator’s Chairman Waseem Mukhtar that Discos had sought an additional
Amid reservations from key stakeholders, the government on Wednesday announced the New Energy Vehicle (NEV) policy aimed at transitioning 30 per cent of all new vehicles — imported and locally manufactured — in Pakistan to electric power by 2030. Minister for Industries and Production Rana Tanveer Hussain unveiled the measures at a news conference, claiming that all stakeholders had been consul
Syed Hafeezuddin, Chairman of the National Assembly’s Standing Committee on Industries and Production, has directed the Pakistan Steel Mills (PSM) management to expedite its revival to prevent further losses. In a visit to the PSM on Wednesday, he took serious notice of the non-payment of dues to retired and retrenched employees, the disconnection of gas supply, electric tariff, water supply
The first four months of FY25 saw a 30.98 per cent increase in crude oil imports, leading to higher-than-expected production of petroleum products by local refineries and an increase in exports. Preliminary estimates suggest that the increase in local production of petroleum products in the past few months and its exports from the country is likely to boost economic growth in the current fiscal
Banks have managed to increase their Advance-to-Deposit Ratio (ADR) to 44 per cent in a bid to avoid the 15pc incremental tax due at the end of 2024, analysts said on Wednesday. The government — keen to extract more revenue from banks that recorded unprecedented profits in 2023, nearly double the previous year — appears to have been thwarted as banks rapidly increase lending to minimise additio