By Staff Reporter
ISLAMABAD: Power regulator NEPRA on Tuesday approved a quarterly tariff hike of Rs46.536 billion for the third quarter of the fiscal year 2022-23, to be recovered from most electricity consumers from July to September 2023.
Latest
Sharif, Modi reignite old rifts at SCO summit
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif and his Indian counterpart Narendra Modi traded jibes on cross-border militancy and rights of minorities on Tuesday as they met virtually at a regional summit.
SBP targets 5-7 percent inflation in two years
By Staff Reporter
KARACHI: Pakistan’s central bank chief said on Tuesday he was confident of bringing inflation down to a medium-term target of 5-7 percent in the next two years, despite the current high rate of 29.4 percent.
Gilgit-Baltistan chief minister disqualified for fake law degree
By Staff Reporter
ISLAMABAD: A court in Pakistan’s Gilgit-Baltistan disqualified chief minister on Tuesday for holding a fake law degree, a move that could trigger a political crisis in the Himalayan region, lawyers said.
Rupee surges on IMF support
By Staff Reporter
KARACHI: The rupee surged 5.2 percent against the dollar on Tuesday, after the country clinched a $3 billion loan deal with the International Monetary Fund (IMF) over the weekend to shore up its foreign exchange reserves and repay its debts.
A looming disaster
By News Desk
The illicit cigarette market has experienced a staggering surge in growth during the last fiscal year, raising concerns that it may soon surpass the legitimate industry in the current fiscal year of 2023-24.
IMF’s $3 billion bailout for Pakistan hinges on nine key reforms
By Staff Reporter
Pakistan has agreed to nine key reforms as part of a $3 billion stand-by arrangement with the International Monetary Fund, local media reported on Tuesday.
Pakistan slashes trade deficit by 43pc in FY23 amid import curbs
By Staff Reporter
ISLAMABAD: Pakistan’s trade deficit shrank by 43 percent to $27.55 billion in the fiscal year 2023, data from the Pakistan Bureau of Statistics (PBS) showed on Monday, as the government curbed imports to cope with low foreign exchange reserves.
PM Sharif calls on Sweden to take action against Holy Quran desecrator
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday called on Sweden to take action against a man who desecrated the holy Quran in Stockholm last week and demanded a thorough investigation into the incident.
IMF deal sparks biggest single-day gain in stocks history
By Staff Reporter
KARACHI: Pakistan’s main stock index surged to a record single-day trade on Monday after the country secured a $3 billion stand-by arrangement from the International Monetary Fund (IMF) to support its dollar-starved economy.