Month: November 2023

Economic confidence hits new low

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Ipsos survey reveals anxieties over inflation, unemployment and poverty levels ISLAMABAD: Only one in ten Pakistanis believes that the country is heading in the right direction, with economic problems ranking as the most worrying issues for them, reveals a new opinion poll. The outcomes of the survey reflect the overall poor conditions of the country, yet the number seeing the economy as very weak has declined to 60%, according to the Consumer Confidence Index Survey conducted by Ipsos – a market research firm – last month. The survey revealed that…

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Lenders seek transparency as Pakistan pitches for environment funding

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ISLAMABAD: Amid struggling project implementation and calls for more transparency by multilateral and bilateral lenders, the caretaker government on Tuesday made a pitch for additional international financial support, particularly those relating to ‘debt for nature and debt for social development swaps’ to help Pakistan meet climate finance targets. The appeal for additional financial support was made by Caretaker Finance Minister Dr Shamshad Akhtar at back-to-back engagements with lenders and development partners ahead of upcoming UN Climate Change Conference (COP-28) convened by UN Framework Convention on Climate Change (UNFCCC) from Nov…

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Govt appealed to bring gas tariff down to Rs1350 per MMBtu as per cost determined by OGRA

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Industries ready to pay 100 pc gas cost only, not subsidies: KCCI, Industrial Town Associations KARACHI: The Karachi Chamber of Commerce & Industry (KCCI) along with all seven Industrial Town Associations and Value-Added Textile Associations have fervently appealed the government to bring down gas tariff to Rs1350 per MMBtu which has been determined as 100 percent cost of gas by OGRA and the industries were ready to pay the same but not the subsidies.Addressing a press conference here on Tuesday which was chaired by President KCCI Iftikhar Ahmed Sheikh, representatives…

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FCA for Oct 2023: Discos seek Nepra nod for Rs3.5/unit additional charges in December bills

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ISLAMABAD: The ex-Wapda distribution companies (XWDiscos) have formally sought an approval from the National Electric Power Regulatory Authority (Nepra) to impose additional charges of Rs3.5339 per unit on consumers in December. The petition, related to the monthly fuel charges adjustment (FCA) for October 2023, raises eyebrows as approximately 84 percent of the claims pertain to the recovery of previous adjustments totaling a substantial Rs28.325 billion (or Rs2.9592/unit). A parallel concern arises as the Central Power Purchasing Agency (CPPA), representing Discos, discloses nearly identical per unit costs for local and imported…

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Unilever CEO inspires SSGC

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KARACHI: Amir Paracha, chairman and CEO of Unilever Pakistan Limited, spoke about his professional journey and the challenges he faced as one of the youngest CEOs in the country at a speakers’ session organised by Sui Southern Gas Company (SSGC), a statement said on Monday. The session, titled “Hitting the Bulls’ Eye”, was part of SSGC’s Synergy-Talks series, aimed at providing a platform for learning and inspiration for its employees and executives. The event was held at SSGC’s head office auditorium and was attended by a large number of SSGC’s…

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