The National Electric Power Regulatory Authority (Nepra) has approved a reduction in electricity rates of up to Rs1.28 per unit on account of fuel charges in September 2024. According to Nepra's statement, the Central Power Purchasing Agency Guarantee Limited (CPPAG) had initially submitted a request for a 71 paisa per unit reduction in fuel charges. The regulator conducted a public hearing on the
Public sector employees hired from the next fiscal year onward will no longer be eligible for state-funded pensions upon retirement, as part of significant pension reforms, Finance Minister Muhammad Aurangzeb announced on Wednesday. Speaking to the media on the sidelines of 'The Future Summit - What Matters Now,' Aurangzeb explained that, under the reforms, employees will contribute from their
After a strong start following an overnight record closing, the stock market tumbled on Wednesday as equity investors became unsettled by the election of Donald Trump as the 47th president of the United States, pushing the KSE 100 index into the red. Talking to Dawn, Tahir Abbas of Arif Habib Ltd said a section of investors indulged in profit-taking after Trump’s win, fearing a change of polici
The Pakistan Stock Exchange (PSX) has appointed Farrukh H. Sabzwari as its chief executive officer for three years, according to a notice issued by the bourse on Tuesday. He will assume his office on the 18th. Mr Sabzwari has previously served as CEO and MD of KASB Securities (local partner of BoA Merrill Lynch), BMA Capital and country head for CLSA Emerging Markets in Pakistan. His time ab
Pakistan plans to issue Eurobonds in the next fiscal year after securing an improved ratings from international agencies, announced Finance Minister Mohammad Aurangzeb on Tuesday. Speaking at the launch of the Securities and Exchange Commission of Pakistan’s (SECP) Electronic Mortgage Register, the minister said the economy has stabilised, and regulators and banks must accelerate growth. The