ISLAMABAD: Continuing with perpetual electricity price shocks suppressing demand, the Central Power Purchasing Agency (CPPA) has sought about Rs5 per unit increase in fuel cost adjustment (FCA) in upcoming bills on account of electricity consumed in February to generate another Rs35 billion for ex-Wapda Distribution Companies (Discos). The additional FCA demanded by the CPPA, 113pc higher than
With an apparent understanding reached during the final review of the $3 billion Standby Arrangement, the visiting staff mission of the International Monetary Fund (IMF) and Pakistani authorities agreed on Monday to extend talks overnight to conclude the Memorandum of Economic and Financial Policies (MEFP). The finance ministry had earlier announced the schedule of review talks ending on M
Prime Minister Shehbaz Sharif has begun his second term in office on a note of defiance. He successfully resisted the pressure and did not appoint family relative and party’s old economic guard Ishaq Dar as the new finance minister. Shehbaz Sharif has drawn the curtain on Ishaq Dar’s over quarter a century old claim on being the Pakistan Muslim League-Nawaz’s only choice for the position. Dar b
akistan Hosiery Manufacturers Association (PHMA) leadership has vowed that the value-added textile industry will work closely with the new government in a bid to enhance exports and rejuvenate the growth momentum. In a statement, PHMA Zonal Chairman Farrukh Iqbal asked the government to provide its backing for the value-added apparel sector, so that it could utilise its potential to reap benefi
Pakistan Business Forum (PBF) Vice President Jahan Ara Wattoo stated that Pakistan’s agriculture sector holds great potential, and its current contribution of $3 billion to the economy could be doubled with viable approaches covering all aspects of this vital sector and addressing stakeholders’ concerns. Addressing a workshop on Saturday, she highlighted the urgent need to control cartels in co