KARACHI: Gold price soared on Wednesday to a six-month high of Rs225,400 per tola (11.66 grams) as the precious metal took cue from the rising global market that touched an all-time high. On the other hand, the Pakistani rupee maintained its downtick for the fourth consecutive working day and closed at Rs279.35 against the US dollar in the inter-bank market. According to State Bank of Pakist
BEIJING: “In 2023, China’s photovoltaic (PV) application market has indeed achieved unexpected development, reaching 216.88GW (gigawatts), a staggering year-on-year growth of 148.1%, exceeding the predictions of all industry insiders. With the growing demand for green electricity, we predict that the domestic new installed capacity will remain at a high level this year,” Liu Yiyang, Deputy Secr
LAHORE: The National Electric Power Regulatory Authority (NEPRA) has disclosed that high electricity costs were one of the contributing factors to the decline of the economic growth rate to a mere 0.29% in the financial year 2022-23. According to NEPRA’s State of the Industry Report 2023, the high cost of electricity in Pakistan has emerged as a critical challenge affecting all segments of soci
Moody's Investors Service has upgraded the outlook of Pakistan's banking sector from 'negative' to 'stable', citing easing macro challenges and fiscal pressures. In its report, the agency highlighted the solid profitability and stable funding of banks, which provided a buffer against the country's macroeconomic challenges and political uncertainties. The report forecasts a modest growth of 2
ISLAMABAD: Pakistan’s external public debt rose by $1.2 billion in six months to $86.358bn as of September 30, 2023, according to the Ministry of Economic Affairs (MEA). In its first quarterly report on Foreign Economic Assistance (FEA) of the current fiscal year released on Wednesday, the ministry said Pakistan had received total foreign inflows of $3.5bn in July-September 2023 against loan re