The Large-Scale Manufacturing (LSM) sector contracted 1.25 per cent in the first five months of 2024-25, data released by the Pakistan Bureau of Statistics showed on Wednesday. Since August 2024, the LSM has declined for two consecutive months. Domestic and global factors contributed to the downturn in FY24. The LSM grew positively from December 2023 to May 2024 before entering negative territo
Pakistan’s exports to five Central Asian countries (CACs) witnessed a negative growth of 8.87 per cent during the first five months of the current fiscal year over the corresponding period last year. The country’s exports to the region have yet to attain their full potential. Similarly, imports from Kazakhstan, Tajikistan, and Uzbekistan have increased significantly despite regular high-profile
Promising the region’s lowest electricity tariff in a few months, the government on Wednesday decided to reduce power supply rates to electric vehicle charging stations (EVCS) by almost 44 per cent to an all-inclusive Rs39.70 per unit from Rs71.10 at present. This measure aims to promote clean energy and reduce the $6 billion annual fuel import bill for small vehicles. Speaking at a news con
The government on Wednesday raised Rs421 billion through the auction of Pakistan Investment Bonds (PIBs) against the total bids of Rs1.5 trillion. The auction of long-term bonds reflected the government’s strategy to avoid short-term debt servicing, which creates fiscal imbalances each year. The auction was also crucial because the government exceeded the Rs350bn target while it remained r
The National Electric Power Regulatory Authority (Nepra) on Wednesday approved a Rs4.98 per unit refund for K-Electric consumers for November’s fuel cost adjustment (FCA), applicable in February bills. However, the regulator wondered why the utility should have a generation licence if it’s drawing more than two-thirds of its supply from the national grid. At a public hearing convened