KARACHI: A consortium led by Arif Habib Group has said it intends to acquire the government’s remaining 25% stake in the national flag carrier Pakistan International Airlines, completing the privatisation of the loss-making airline.
Economy
IMF talks with Pakistan on power tariff revamp as inflation risks loom
ISLAMABAD: The International Monetary Fund is in talks with Pakistani officials over a proposed revamp of electricity tariffs that could stoke inflation even as it aims to relieve pressure on the nation’s industries, the fund said, stressing that any changes must shield middle- and lower-income households from the brunt of the burden.
PM Sharif launches Rs38bln Ramadan cash relief for deserving families
ISLAMABAD: Prime Minister Shehbaz Sharif unveiled a Rs38 billion relief package on Saturday to support deserving families during the Muslim holy month of Ramadan, with funds to be disbursed digitally across the country’s provinces, Gilgit-Baltistan and Azad Jammu and Kashmir.
UAE rolls over $2 bln deposit with Pakistan central bank, FO spokesman says
ISLAMABAD: Pakistan said on Thursday the United Arab Emirates had rolled over $2 billion in deposits with its central bank, providing a boost to foreign reserves as the cash-strapped South Asian nation navigates an International Monetary Fund bailout programme.
Pakistan eyes power sector debt revamp to cut tariffs amid solar surge
ISLAMABAD: The government is exploring a major restructuring of its power sector debt, including talks with multilateral lenders to refinance $30 billion owed to China, as it seeks to slash electricity tariffs and boost grid usage hit by a boom in rooftop solar panels, the power minister said on Thursday.
Pakistan’s government debt climbs to Rs78.5 trln despite fiscal surplus
KARACHI: Pakistan’s total government debt rose to Rs78.5 trillion by the end of December, up 0.82% from mid-year levels, as the cash-strapped South Asian nation continued to rely heavily on domestic borrowing amid tight external financing, central bank data showed on Wednesday.
Nepra imposes fixed power charges on low-usage households, cuts industrial rates
ISLAMABAD: The power regulator on Wednesday introduced fixed monthly charges for domestic electricity consumers using up to 300 units a month for the first time, expanding a fee structure previously limited to higher-consumption households, while slashing rates for industrial users in a bid to ease burdens on key sectors.
PM Sharif directs appeal against power regulator’s solar net-metering changes
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday directed the Power Division to file a review appeal against recent changes by the National Electric Power Regulatory Authority (Nepra) that shift solar consumers from net-metering to net-billing, amid widespread criticism from lawmakers.
SBP chief sees growth up to 4.75 percent this year, rebuffing IMF downgrade
KARACHI: Pakistan’s central bank governor pushed back against a recent downgrade of the country’s growth outlook by the International Monetary Fund, arguing that the economic recovery is proving broader and more resilient than headline trade figures suggest.
Auto sales hit 43-month high in January on lower rates, new models
KARACHI: Pakistan’s auto industry posted robust growth in January, with sales of cars, pickups, vans and sport utility vehicles reaching a 43-month high of 23,055 units, driven by new-year registrations and improving economic conditions, an analyst said.