As a last resort to save the economy, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday announced that it would file a case in the Supreme Court against the unbearable capacity charges being paid to independent power producers (IPPs). FPCCI Acting President Abdul Mohamin Khan, in a statement issued on Tuesday, said despite repeated and unrelenting expressions of it
As earnings season goes into full swing, bullish investors hope solid corporate results will stem a tumble in technology shares that has cooled this year’s US stock rally. The S&P 500’s technology sector has dropped nearly 6% in just over a week, shedding about $900 billion in market value as growing expectations of interest rate cuts and a second Trump presidency draw money away from this year
Ask anyone what’s been troubling them the most lately, and at least nine out of ten will say it’s the relentless price rise. The last financial year (FY24) ended with an average CPI inflation of 23.41%, compared to 29.18% in FY23 and 12.15% in FY22. Simultaneously, the economy grew by 2.4% in FY24, contracted by 0.2% in FY23, and grew by 6.2% in FY22. These indicators unmistakably show that the co
The government has decided to eliminate the concept of ‘capacity payments’ for small hydropower projects, aiming to reduce the financial burden on power consumers. Currently, consumers are shouldering 70% of electricity costs due to these payments made to Independent Power Producers (IPPs), totalling around Rs2.2 trillion annually to those not producing a single unit of electricity. During d
The federal government has prepared a framework for the division of assets and liabilities of the national flag carrier—the Pakistan International Airlines (PIA)— as part of its privatisation process. According to official documents seen by The Express Tribune, the airline’s assets and liabilities have been divided between the PIA and a holding company. The government has disclosed that the