The National Highway Authority (NHA) on Sunday said its gross profit was declining continuously over the past three years as the pace of its expenditure growth was outpacing annual incomes. In a statement, the NHA said its gross profit in FY2022 amounted to Rs45.77bn but plunged by more than half (52pc) a year later in FY2023 to Rs21.84bn. The gross profit further went down by about 34pc to jus
A substantial reduction in electricity tariffs, promised by the government, could not get past the International Monetary Fund (IMF), which is currently holding back a staff-level agreement (SLA) on the first biannual review of the $7bn Extended Fund Facility (EFF). It was widely reported in the media through official leaks that the prime minister would announce a Rs8 per unit reduction in elec
The stock market continued its record-setting streak for the second consecutive session on Thursday, pushing the benchmark KSE 100 index above 118,000. Topline Securities Ltd said the stock market continued its bullish momentum, reaching record-high levels with a record-high trading value in nearly two months. The benchmark index surged to an intraday high of 1,447 at 119,421.81 points before s
IT has been a pattern. Ever since it returned to power in 2022, the ruling PML-N has allocated tens of billions from public funds each year to the Sustainable Development Goals Achievement Programme, ostensibly to shore up its own and allied parties’ sagging political fortunes. SAP, as the programme is referred to, is the cover given to political development schemes sanctioned and overseen by p
THIS is perfect. The power bureaucracy has decided to go on the offensive against users of net-metering services, and decided to describe them all as a ‘burden’ and tell the rest of the power users in the country that their bills are high because a few are escaping the grid by going solar. And thanks to this misfire, this entirely unnecessary hostility, we now have the perfect illustration of w