Minister for Power Sardar Awais Leghari, addressing an event in Islamabad, announced the government's plan to auction surplus electricity to industries. This initiative, aimed at stimulating industrial growth and creating employment opportunities, was detailed in a press statement by the Ministry of Energy on Tuesday. According to the statement, Leghari emphasised that surplus electricity would
The International Monetary Fund (IMF) on Tuesday advised Pakistan to stay on course and show some patience amid growing demand from the private sector to open up the economy to create jobs and reduce unemployment. Pakistan "needs to stay on course, remain committed to programme objectives and at the same time needs to have a little bit of patience," remarked Mahir Binici, IMF Resident Represent
The World Bank Vice President for South Asia, Martin Raiser, emphasised on Tuesday that the $20 billion lending will be insufficient to achieve the 10 years' development goals, and Pakistan will have to mobilise more resources to overcome its challenges. In a statement issued after the week-long visit by Raiser to Pakistan, the regional vice president appeared to strike a balance between the op
Bears maintained their hold on the Pakistan Stock Exchange (PSX) on Tuesday as shares lost nearly 1,500 points. The benchmark KSE-100 index declined by 1,489.96 points, or 1.31 per cent, to close at 112,030.36 points from the previous close of 113,520.32. Yousuf M. Farooq, director research at Chase Securities, said, “The market opened under pressure today following a news report yesterday i
A Senate subcommittee on Monday ordered a complete audit of all solar panel imports since 2018 after showing dissatisfaction with a probe into Rs70 billion worth of under- and over-invoicing by two importers through the involvement of commercial banks. After a meeting of its subcommittee, the Senate Standing Committee on Finance and Revenue, led by Senator Mohsin Aziz, announced that fresh reve