Business

Inflation for the month of July, as measured by the Consumer Price Index (CPI), has clocked in at 24.93 per cent, the highest year-on-year rise since November 2008. According to data shared by the Pakistan Bureau of Statistics (PBS) on Monday, CPI inflation increased by 4.35pc compared to June. Last month, the YoY inflation was measured at 21.3pc, which was the highest figure …

LAHORE: Power regulator Nepra has assured the textile industry of reviewing wheeling charges against cheaper power generation facilities to be set up by the industry under the Comp­etitive Trading Bilateral Contr­act Market (CTBCM) scheme. “Both the industry and Nepra representatives should sit together and calculate judicious wheeling charges to make them acceptable for both sides,” Nepra chief Tauseef H. Farooqi …

KARACHI: Pakistan holds an estimated $652 million in annual revenue potential in the women’s financial services market, according to data shared at a roundtable held recently. However, this remains untapped due to poor policies and a culture of gender inequality towards women’s financial empowerment. At a virtual media roundtable held on Thursday, findings from a diagnostic report from six countries …

KARACHI: Investors, who got delivery of their vehicles booked at old rates after a delay of months, are reaping windfall by selling their cars, jeeps and pickups at huge premiums due to massive hike in prices in recent weeks. With the country on the verge of default, booking suspensions, massive price increases, restrictions on auto financing, and sales falling by …

ISLAMABAD: In a bid to overcome the ongoing energy crisis, the government has decided to promote solar energy, and the Ministry of Industries and Production (MoIP) has been tasked with formulating a policy to manufacture solar panels and allied equipment in the country. Sources in the Ministry of Industries said that the Engineering Development Board (EDB) is likely to finalise …

Finance Minister Miftah Ismail on Sunday voiced optimism that the pressure on the rupee, which has seen a sharp drop against the dollar in recent weeks, would ease within the next two weeks. “You are correct that after the August 17 [Punjab by-]polls, the dollar has got out of control and appreciated,” he said while responding to a prompt from a reporter during …

KARACHI: Stock investors lost 17.3 per cent of their investments in dollar terms in July — a period that saw the highest month-on-month depreciation. The dollar-based losses in stock investments in July were the highest since March 2020, according to a research report issued by Arif Habib Ltd. The dollar rate in the local currency surged to Rs239 from Rs205 …

ISLAMABAD: Owing to an outstanding pre-condition of the International Monetary Fund (IMF) for increase in petroleum development levy (PDL), the price of high speed diesel (HSD) is estimated to go up by about Rs8 per litre this weekend, while petrol is estimated to be about Rs11 per litre cheaper. This will strengthen Pakistan’s case for disbursement of $1.18bn when it …

ISLAMABAD: Inflation measured by the Sensitive Price Index (SPI) increased by 3.68 per cent from the previous week mainly due to the highest-ever increase in food prices, according to the Pakistan Bureau of Statistics (PBS) data released on Friday. The increase in the weekly inflation is the highest since the change of the base year. On June 17, the second …

KARACHI: As the government is busy handling political and economic crises, the auto assemblers are fully cashing in on the situation by jacking up vehicle prices. Indus Motor Company (IMC) on Friday emerg­­ed as the third company to give a big price shock of Rs590,000 to Rs3.16 million in various models, citing rupee devaluation, increase in taxes and duties including …