The privatisation process for three electricity distribution companies (Discos) began on Tuesday after a meeting jointly chaired by the privatisation and power ministers gave its go-ahead. The Privatisation Commission has invited technical and financial proposals for the appointment of financial advisers for private sector participation in three distribution companies — Islamabad Electric Suppl
The issue of soaring electricity tariffs and the Punjab-only power subsidy have ignited a war of words between the ruling coalition parties, with the PPP criticising the PML-N-led federal and Punjab governments. The opposition has also seized the opportunity to criticise the PML-N, accusing the party of providing relief only to Punjab while neglecting other provinces. The political friction
Despite encouraging numbers of current account deficit and foreign direct investment for July, the equity investors extended their profit-taking spree on Monday amid mounting political tensions. Ahsan Mehanti of Arif Habib Corporation said stocks closed under pressure on a weak economic outlook. He cited uncertainty over IMF approval on power subsidies in Punjab, unsettled dues of Chinese IP
IT experts and the Pakistan Freelancers Association (PAFLA) have raised alarms over the continuous slow internet in Pakistan, warning that it poses a significant threat to the country's digital economy. Freelancers, IT companies, small traders, and everyday citizens are suffering substantial daily losses due to these disruptions. The impact of slow internet is widespread. Lower middle-class hou
Pakistan posted a current account deficit (CAD) of $162 million in the first month (July) of the current fiscal year 2024-25, slightly exceeding market expectations and the average of the past 12 months, yet still remaining well within the targeted limit. The current account deficit occurred due to increased imports of goods to support economic activities and the apparent elevated repatriation