Category: Shortcode

In order for the economy to emerge stronger out of its current industrialization phase, energy policies must reflect thorough planning for sustainability and effective resource management, along with a formula to reduce the trade deficit and limit borrowing in order to tackle the ballooning circular debt, writes Shahid Sattar, Executive Director & Secretary General of All Pakistan Textile Mills Association (APTMA). Pakistan has historically suffered from some of the highest electricity tariffs in South Asia. These tariffs have not only served as a means to transfer the costs of inefficiency…

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The Price Differential Claim (PDC) on high speed diesel (HSD) and Petrol has reached to Rs 34.92 and Rs 23.43 per litre respectively as the government has decided to keep the prices of petroleum products unchanged for the last fortnightly of March (March 16-31) “In line with decision of the prime minister in the last fortnightly review, the petroleum product prices to remain unchanged despite abnormal price increase in international market,” said a statement issued by Finance Division here Tuesday. “Subsequently, to keep the prices at the existing level, government…

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The government has reportedly failed to convince Chinese government to restart suspended work on 300MW coal-fired power project at Gwadar as M/s Sinosure, Chinese loan insurance company, is unwilling to cover governmental breach risk under the medium and long term buyer credit insurance largely due to delayed payments to CPEC IPPs and delay in opening of revolving account, sources close to Managing Director Private Power and Infrastructure Board (PPIB). Sharing the details, sources said, PPIB is processing a 300MW imported coal power project at Gwadar, Balochistan by CIHC Pak Power…

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The country’s economic managers are claiming that the economy is now at a sustainable growth trajectory and a post Covid pandemic turnaround stands well and truly achieved. Well, to be honest they have a fair point, as exports are growing and corporate turnovers and profits results are depicting perhaps some historically best numbers. The recent financial figures from almost all LSM sectors have been robust and a few turnover transformations have been absolutely amazing. For example, only in last week’s reporting, I was reading that Attock Refinery, from being a…

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As the burden of the price differential needed to be absorbed by the government following the announcement of a petroleum relief package by Prime Minister Imran Khan increases by the day, the Economic Coordination Committee (ECC) of the cabinet on Tuesday approved another Rs12 billion for oil companies, taking the total expenditure on such products to Rs32bn this month alone. The meeting of the ECC presided over by Finance Minister Shaukat Tarin also approved the Ramazan Relief Package worth Rs8.3bn, under which 19 kitchen items would be supplied at subsidised rates through…

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