Category: Shortcode

Shabbir Mansha, acting president FPCCI, has said that the interest rate of 13.75 percent will not let the economy to grow and the prices of electricity and gas have already made us uncompetitive as far as the exports are concerned. Additionally, there are rumors that interest rate may be further raised. He added that the government should also consult with the stakeholders in business, industry and trade on how and when interest rate can be brought down so that, businesses can plan their year ahead accordingly. Shabbir Mansha noted with…

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The Ministry of Economic Affairs said on Thursday that 43 per cent of about $35 billion worth of foreign-funded projects were problematic — either not progressing well or unable to deliver the desired outcomes. At a review meeting of the National Coordination Committee on foreign-funded projects, the ministry reported that it was managing an ongoing portfolio of $34.8bn such projects of various sectors of the economy. “Out of the total portfolio, $15bn (43pc) is considered as problematic,” it added. On top of that, the meeting was informed that the “share…

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Russian Consul General Andrey Viktorovich Fedrov has stated that he wasn’t aware of any oil deal between Russia and Pakistan. However, he said that Pakistan and Russia were currently experiencing friendly bilateral ties and Kremlin considers Islamabad a ‘friendly’ country. In an interview, the Russian consul general also expressed his desire to establish trade and economic cooperation with between Russia and Pakistan. Fedrov said that trade ties between Pakistan and Russia were affected due to “illegal sanctions” by the West. While expressing trade potential between Pakistan and Russia, he said…

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LONGi has announced a new world record conversion efficiency of 26.5% for its silicon heterojunction (HJT) photovoltaic cells. The new record, validated in testing carried out by the Institute for Solar Energy Research (ISFH) in Hamelin, Germany, was achieved on M6 (274.4cm2) full-size monocrystalline silicon wafers, marking a new breakthrough in efficiency for large-size monocrystalline silicon photovoltaic cells. Through consistent technological innovation, LONGi, the world’s leading solar technology company, has achieved continual breakthroughs in PV conversion efficiencies, breaking the world record for HJT cell efficiency twice in one week in…

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The government has allowed K-Electric (KE) to recover Quarterly Tariff Adjustment (QTA) of first quarter of FY 2021-22 to the tune of Re 0.57 per unit from KE consumers, in the first three months of next fiscal year, well informed sources told Business Recorder. Under section 31(7) of the Nepra Act, Nepra, in its determinations for Discos of May 9, 2022, has determined periodic adjournment in tariff for the first quarter of FY 2021- 22 for Discos, notified by Nepra on May 31, 2022. In light of this determination, Nepra…

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