Month: August 2021

The Monetary and Fiscal Policies Coordination Board on Wednesday agreed to reduce electricity subsidies by Rs170 billion and also discussed the possibility of scaling back grants for subjects that fall in provincial domains. The board meeting also discussed the southbound movement of the rupee and its future outlook, which the State Bank of Pakistan (SBP) governor described stable, sources told The Express Tribune after the meeting. The meeting was held the day Pak rupee lost another Rs1.08 value against the US dollar and closed at 166.28 – the lowest level…

Electric Vehicles (EVs) have already caught the interest of large populations of the developed countries and the Pakistani public as well awaits with excitement. Tesla has surpassed all international car manufacturing companies in terms of market capitalisation. The financial incentive in the form of hard cash given by the western governments to the consumers has been the key factor in the rapid adoption of EVs. Despite these incentives, the road to achieving full conversion to EVs from conventional petrol-based vehicles is going to be a long one. The main limitations…

The petroleum division on Wednesday blamed the power sector for most of the challenges faced by the liquefied natural gas (LNG) supply chain and said the Frontier Works Organisation (FWO) had given monopoly through 10 fuel stations on the motorway to troubled Hascol as subsidiary. Testifying before the Senate Standing Committee on Petroleum and Natural Resources, Petroleum Secretary Dr Arshad Mahmood said there was a dry-out situation on M-2 (Lahore-Islamabad Motorway) on the eve of Eidul Azha and the petroleum division had been trying to ensure that these remained wet.…