Category: Highlights

The complaints of gas outage and low pressure have been on the rise in different parts of the provincial metropolis. Besides, gas cuts in densely-populated areas force the citizens to use the LPG, wood and coal or bring food from the bazaar, which are all costly alternatives. As the complaints of low or no gas have become a new norm, the citizens in many parts of the city are left with no option but to use the costly alternative for cooking and heating purposes. Due to the non-availability of gas,…

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State Bank of Pakistan’s (SBP’s) annual report on Pakistan’s economy 2020-21 claims that growth rebounded to 3.9 percent last fiscal year accompanied by a 10-year low current account deficit that built up foreign exchange reserves, an edging down of fiscal deficit despite Covid-19 leading to improved debt-to-GDP ratio and easing of consumer price index due to stable core inflation constituting non-food and non-energy prices. The growth rate doubled from the projected 2 percent last fiscal year with current account deficit projected at negative 1.2 percent of GDP and this was…

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At the sprawling Expo 2020 Dubai, a cultural tour de force known as the Pakistan Pavilion has been quietly drawing global attention. It is among the pièces de résistance of the Opportunity District – a fitting location for a country that shows great promise as a magnet for tourists and investors. Themed as ‘Pakistan: The Hidden Treasure’, the pavilion cost $28.72 million to build and spreads across 35,000 square feet. “Through this theme, we’re not only highlighting our potential in terms of the tourism industry but also showcasing its people…

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The outflow of profits and dividends on foreign investment in Pakistan witnessed a decline of 16.5 per cent during the first four months of the current fiscal year (4MFY22). The State Bank of Pakistan (SBP) reported that outflow of profits fell to $566.6 million compared to $678.6m during the same period in FY21. The biggest outflow was from banks indicating that financial business in the country was in the best shape yielding highest profits. Almost all banks showed profits in their annual and quarterly reports. The profits outflow during July-Oct…

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None of the 10 chairmen in as many electricity distribution companies (Discos) is a certified director from the Pakistan Institute of Corporate Governance (PICG), an independent training body set up by multiple regulatory authorities to improve boardroom governance in the corporate sector. According to a recent research paper by Afia Malik of the Pakistan Institute of Dev­e­lopment Economics (PIDE), only three of the 40 independent directors on the Disco boards are PICG-certified directors. The bifurcation of the Water and Power Development Authority (Wapda) in November 2007 created initially eight and…

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