By Staff Reporter
ISLAMABAD: Weekly SPI inflation eased to 1.32 percent from 3.63 percent, but a rise in prices from a year earlier on higher food and energy costs adds to the miseries facing common Pakistanis.
Energy
Composite image by Independent Pakistan
Should Pakistan replace SBP with a currency board?
By Ahmer Kureishi
June, the final month of the last fiscal year saw wholesale inflation in Pakistan rise to a historic high of 38.9 percent per annum, giving rise to fears that the flood of consumer price inflation is about to turn into a tsunami. Already at this point, the consumer price index was at 21.32 percent per annum.
Development: Ecnec passes Rs395.8 billion projects
By Staff Reporter
ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) on Wednesday approved various infrastructure projects costing Rs395.8 billion, including the Hyderabad-Sukkur Motorway, a statement said on Wednesday.
POWER WOES: Residents of Quetta’s Spinny Road are seeing protesting against load shedding in their area in this photo dated June 18, 2022, ONLINE PHOTO by Samiullah.
Monsoons, KANUPP-2 bring welcome respite in load shedding
By Staff Reporter
ISLAMABAD: As the Indus starts to swell with the onset of Monsoon rains, power generation capacity of the Tarbela hydroelectric plant is set to improve by 2,500 MW and 3,500 MW, allowing the authorities to cut back load shedding, Independent Pakistan can report.
Risking Bailout: Cabinet drags feet on phased power tariff hike
By Staff Reporter
ISLAMABAD: The Federal Cabinet is yet to give a go-ahead to phasing in a power tariff hike of Rs7.92/unit as committed with the IMF, which might have consequences for the bailout pogramme, it is learnt.
Anomalies: Petroleum Division engages SECP to vet Eni-PIOGCL deal
By Staff Reporter
ISLAMABAD: Petroleum Division has raised questions over Hub Power Holding Limited’s (HUBCO) undertaking about the transfer of entire share capital of Eni Pakistan Limited to Prime International Oil & Gas Company Limited (PIOGCL), while moving the corporate regulator to vet the case for clarity, it was learnt on Monday.
Inflationary Shocks: KE cleared to raise power tariff by Rs9.66/unit
By Staff Reporter
ISLAMABAD: The country’s power regulator on Monday allowed K-Electric (KE) to ratchet up the tariff for the load-shedding-battered consumers by Rs9.66/unit, a second such increase in a short span of time.
The anatomy of our horrid power crisis
By Staff Reporter
ISLAMABAD: Despite the government’s repeated claims to end load shedding, Pakistani households and businesses continued to suffer intermittent power outages in the scorching summer heat of June – and the pattern shows no signs of going away in July.
Stock image courtesy Pixabay
CPI Inflation: The worst is yet to be
By Staff Reporter
ISLAMABAD: Historic high inflationary pressures threaten to hold Pakistan’s economy hostage in the new fiscal year in the wake of consumer inflation reaching 21.34 percent for June, the last month of the previous fiscal.
25 May 2022 Islamabad. Federal Finance Minister Miftah Ismail addressing an important press conference.
Miftah defends high fuel prices, new levy
By Staff Reporter
ISLAMABAD: Minister for Finance Miftah Ismail on Thursday said the government imposed the petroleum levy in the range of Rs5-10 per liter on petroleum to thaw the frozen IMF funding to avoid failing on international obligations.