Category: Shortcode

World Bank to Provide $1 Billion New Loan for Dasu Project

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Dasu-Dam

Islamabad: The World Bank will provide a new $1 billion loan for the Dasu Hydropower Project. This loan will be granted after the approval of the revised PC-1, which is estimated to cost PKR 1.7 trillion. According to senior officials from the Economic Affairs Division (EAD), the World Bank has formally agreed to finance the first phase of the Dasu Hydropower Project with this new loan. The loan disbursement is contingent on the approval of the revised PC-1, which includes updated timelines. The cost of the project’s first phase has…

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Iran Offers the Cheapest Petrol Globally, While Pakistan Ranks 36th

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Petrol-Diesel

ISLAMABAD: Pakistan ranks 36th among the world’s cheapest petrol markets, with Iran offering the lowest petrol price at Rs7.98 per liter, while Hong Kong tops the list of the most expensive at Rs950 per liter, according to a report by Global Petrol Prices and CNBC on January 27, 2025. Ranking of South Asian CountriesAmong South Asian nations, Bhutan ranks 22nd, Afghanistan 31st, the Maldives 34th, Nepal 75th, and Sri Lanka 86th in terms of petrol affordability. Meanwhile, Bangladesh ranks 46th and India 73rd. For diesel prices, Pakistan ranks 45th, Bangladesh…

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Electricity Prices Expected to Drop by Rs2 Per Unit Across Pakistan

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Power-sector

ISLAMABAD: Consumers across Pakistan, including Karachi, may soon see a reduction in electricity prices by approximately Rs2 per unit, according to ARY News. The National Electric Power Regulatory Authority (NEPRA) has received a proposal from power distribution companies to implement this price cut as part of the quarterly adjustment for October to December 2024. The request seeks a total reduction of Rs52.12 billion, covering Rs50.66 billion in capacity charges, Rs2.66 billion in transmission and distribution losses, and Rs2.69 billion in operation and maintenance costs. A hearing on the proposal is…

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Pakistan’s Fertility Rate Declines to 3.6, Says UN Report

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New-Project37

ISLAMABAD: Pakistan’s fertility rate has dropped from six live births per woman in 1994 to 3.6 in 2024, according to the UN’s World Fertility Report 2024. The advance unedited report highlights the benefits of reducing adolescent birth rates, which can accelerate fertility declines and yield significant socioeconomic gains. Lower birth rates would enable better resource allocation for child and adolescent health, while delaying early pregnancies could open opportunities for education and employment for young women. The report states that 1.8 billion people, or 22% of the global population, currently live…

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Gas Utilities Protest IMF-Backed Policy Shift, Warn of Financial Fallout

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Gas-IMF

ISLAMABAD: Gas companies are raising alarms over the IMF-driven policy to shift industrial captive power plants (CPPs) to the national grid, fearing a loss of long-term clients to private competitors. Pakistan LNG Limited (PLL) has sought government approval to import liquefied natural gas (LNG) for industrial use, citing supply constraints at Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL). However, SNGPL has strongly opposed this move, arguing that IMF conditions are being selectively applied, disadvantaging state-owned entities while benefiting private players. Recent gas price hikes—from…

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