By Staff Reporter
ISLAMABAD: Electricity tariffs across Pakistan are expected to rise by Rs7.91 per unit in three phases to win an IMF bailout program, a regulator said on Friday.
Energy
Did fuel imports put the rupee in a tailspin?
By Mohammad Ali
ISLAMABAD: Replenishing fossil fuel reserves at peak prices in the months of May and June 2022 cost Pakistan USD 6.2 billion, deepening the sever balance of payment crisis, Independent Pakistan can report.
Govt cuts rising fuel prices by a sliver
By Staff Reporter
ISLAMABAD: The government on Thursday cut fuel prices to give relief to inflation-hit consumers as global oil prices fall, the prime minister said.
IMF and Pakistan reach staff-level agreement on $1.77 billion loan
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement on the seventh and eight reviews of the Fund’s $ billion bailout programme that will allow for a disbursement of $1.177 billion, the IMF said on Wednesday.
Petrol pumps threaten shutdown over better margins
By Naveed Naqvi
ISLAMABAD: Pressing for better margins on retail sale of fossil fuels, the Pakistan Petroleum Dealers Association (PPDA) has threatened to close petrol pumps across the country in protest from July 18.
FIA Case: Top officials bilked PPL for millions of dollars
By Naveed Naqvi
ISLAMABAD: The Federal Investigation Agency (FIA) has arrested Pakistan Petroleum Limited (PPL) Deputy Managing Director Abid Malik and is conducting raids to arrest several others including a former managing director of the state-owned company on charges of bilking the company for millions of dollars, Independent Pakistan can report.
Govt plans fuel price cut to win political reprieve
By Staff Reporter
KARACHI Pakistan’s fragile coalition government is all set to cut fuel prices, a move likely to ensure, for now, much needed political popularity at the cost of vital economic reforms.
Is PM Sharif dithering in the face of tough calls?
By Staff Reporter
ISLAMABAD: All levels of his government routinely underscore the need for “tough decisions to save the economy”, but Prime Minister Shehbaz Sharif seems to be dithering in the face of an imperative to raise energy prices.
Pakistan central bank is ahead of the curve, acting Governor says
Monitoring Desk
KARACHI: State Bank of Pakistan Acting Governor Murtaza Syed discussed monetary policy and the outlook for the economy. The central bank on Thursday raised borrowing costs more than expected to quell Asia’s second-fastest inflation and meet conditions for a loan from the International Monetary Fund. Syed speaks on “Bloomberg Markets: Asia.” (Courtesy: Bloomberg)
Consumer Alert: Hefty gas price hike on cards
By Staff Reporter
ISLAMABAD: Households and businesses will alike see their fuel bills swell if Prime Minister Shehbaz Sharif okays a proposal to hike gas prices for both households and industries.