Author: Admin

Economic indicators improve on $3b IMF SBA

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IMF-board

Research house says indicators suggest that overheated economy has stabilised KARACHI:Pakistan’s economic indicators have significantly improved under the ongoing International Monetary Fund (IMF) Stand-By Arrangement (SBA) of $3 billion, suggesting that economic activities have stabilised and are ready to enter a growth phase ahead of the new loan package from the lender.In its latest monthly update released on Thursday, Topline Research reported that the country’s key economic indicators, including the current account deficit (CAD), debt and liabilities, foreign exchange reserves, inflation reading, and rupee-dollar parity, improved in February 2024.The report…

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Macroeconomic stability unachievable without another IMF programme: PM Shehbaz

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IMF-board

Prime Minister Shehbaz Sharif on Thursday said that macroeconomic stability in the country needed to be advanced further, which he said would not be possible without another bailout programme with the International Monetary Fund (IMF).A day ago, while announ­c­ing the staff-level agreement (SLA) on the successful completion of an existing short-term facility, the IMF had confirmed that Pakistan was seeking a 24th medium-term bailout package for a permanent push towards longstanding structural reforms.In its end-of-mission statement, the IMF had said that subject to the approval of its executive board, the staff-level agreement would enable…

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Solar panel prices fall in Pakistan; check latest updates

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solar-power

LAHORE – The prices of solar panels have decreased considerably in Lahore just before the onset of summer season.As per the media reports, solar systems of 7 to 15 kilowatts capacity are now Rs100,000 to Rs200,000 cheaper. The price of a 7-kilowatts system has been reduced by Rs100,000 to Rs825,000. Similarly, the cost of a 10-kilowatt system has decreased to Rs1.125 million.A 12-kilowatt system now costs Rs1.4 million and a 15-kilowatts Rs1.6 million after reduction of Rs200,000. Last month, prices of solar panels witnessed Rs75,000 to Rs300,000 increase due to…

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Gul Ahmed to Install 17.1MW Rooftop Solar Plant

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Gul-Ahmed

Gul Ahmed Textile Mills Limited (GATM), a leading textile mill in Pakistan, has announced plans to install a 17.1 MW rooftop solar plant. The Board of Directors (BoD) of GATM approved the signing of a term sheet with K Solar (Private) Limited, a prominent power utility company in Pakistan, for the 17.1 MW project on a Build, Own, Operate, and Transfer (BOOT) basis at its manufacturing facility. The announcement, made through a notice to the Pakistan Stock Exchange (PSX), highlights the company’s commitment to sustainable energy practices. The project is…

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Murad approves Rs5.5bn Smart Safe City projectNRTC, Sindh police ink agreement

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Sindh-Police

KARACHI (March 20): Sindh Chief Minister Syed Murad Ali Shah approved the signing of an agreement of Rs5.5 billion between the Sindh Police Department and NRTC to launch the first phase of the Smart Safe City project in the red zone. The approval of the agreement was made in a meeting held at CM House and was attended by Home Minister Zia Lanjar, Mayor Karachi Murtaza Wahab, Chief Secretary Asif Hyder Shah, IG Police Riffat Mukhtar, MD NRTC Brigadier Asim Ishaque, DG Sindh Safe Cities Authority asif Aijaz Shaikh, and…

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