Construction slowdown on account of political uncertainty, floods and costly building materials caused a 15.5 per cent and 21pc drop in cement sales during October and 4MFY23, respectively. Export shipments also remained affected due to the economic slowdown in world markets. Hassan Bakshi, former chairman Association of Builders and Developers (ABAD), said lingering political and economic u
The National Electric Power Regulatory Authority (Nepra) on Thursday issued new rules allowing new market players to have non-discriminatory access to existing transmission and distribution networks currently maintained mostly by the public sector entities and K-Electric and provide electricity to bulk consumers. The Open Access (Interconnection and Wheeling of Electric Power Regulations, 2022
The Bank of England on Thursday announced its biggest interest rate hike since 1989 to combat sky-high inflation that it warned was pushing Britain into a recession set to last until mid-2024. Following a regular meeting, the BoE said it was lifting borrowing costs by 0.75 percentage points to three per cent — the highest level since the 2008 global financial crisis — to cool UK inflation that
The health ministry has notified new prices of paracetamol, a generic drug for reducing pain and fever that disappeared from the market after manufacturers said they couldn’t make paracetamol-based tablets and syrups amid rising production costs. The notification, issued on Thursday, came almost a week after the finance ministry gave the go-ahead to pharmaceutical companies to increase paraceta
Prime Minister Shehbaz Sharif’s China visit did not work well in the currency market as the dollar appreciated against the rupee for the second day on Thursday. The State Bank of Pakistan reported that the greenback closed at Rs221.95 after gaining 52 paise against the local currency. The dollar appreciated by 78 paise on Wednesday reflecting no impact of high hopes being attached to the PM’s v