Category: Latest News

China’s Five-Year Plan Offers Governance Model for Pakistan’s Development Vision

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China-Pak

ISLAMABAD: China’s remarkable success in implementing its Five-Year Plans serves as an inspiring governance model for Pakistan, which is formulating its own Uraan Five-Year Plan to accelerate economic growth and improve citizens’ welfare. These views were shared by Chinese Ambassador Jiang Zaidong following the conclusion of the fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC), held in Beijing from October 20 to 23. The session marked a key milestone in China’s journey toward socialist modernisation. Ambassador Jiang stated that both China and Pakistan…

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WB Revises Pakistan’s Growth Outlook Upward, Lowers Poverty Estimate

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world-bank

ISLAMABAD: In a surprising revision, the World Bank has upgraded Pakistan’s GDP growth forecast to 3 per cent for the current fiscal year—up from its earlier estimate of 2.6 per cent—and reduced the national poverty rate to 22.5 per cent from last year’s 25.3 per cent, despite not incorporating the latest Household Integrated Economic Survey (HIES) data. The adjustments were revealed in the Pakistan Development Update 2025, released on Tuesday. The World Bank had previously projected 2.6pc growth in its regional outlook on October 7, citing the lingering economic effects…

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NEPRA Slaps Rs110m Fines on Four Power Distribution Companies for Poor Performance

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NEPRA

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has imposed fines exceeding Rs110 million on four ex-Wapda power distribution companies (Discos) — Hyderabad Electric Supply Company (HESCO), Quetta Electric Supply Company (QESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO) — for failing to meet performance benchmarks related to system losses, recoveries, and pole earthing standards. According to NEPRA’s official orders, fines were imposed as follows: Rs10 million on HESCO, Rs40 million on QESCO, Rs10 million on FESCO, and Rs51 million on GEPCO — the latter penalised…

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Gas Utilities Seek Tariff Hike to Cover Revenue Shortfalls and RLNG Costs

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New-Project84

ISLAMABAD: Pakistan’s two major gas utilities — Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) — have sought significant increases in their prescribed gas prices, citing mounting revenue shortfalls and additional costs associated with imported RLNG diversion. SNGPL has proposed a 10.7 per cent hike, equivalent to Rs189 per million British thermal unit (mmBtu), raising the prescribed price from Rs1,766.50 to Rs1,955.50 per mmBtu for the current fiscal year. The Lahore-based utility reported a Rs53 billion revenue shortfall, alongside an Rs582 million subsidy for LPG…

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Pakistan Moves to Cut Energy and Interest Costs to Spur Industrial Growth

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New-Project83

ISLAMABAD: Pakistan is implementing a comprehensive set of reforms to reduce the cost of doing business and revive industrial growth, according to Khurram Schehzad, Advisor to the Finance Minister. In a post on X (formerly Twitter), Schehzad highlighted that the government has already achieved significant progress in lowering energy and financial costs, while taxation and regulatory reforms are also underway to create a more business-friendly environment. He noted that energy tariffs for industrial and agricultural consumers have been reduced from Rs 38 to Rs 23 per unit on additional consumption…

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