Business

LAHORE: The Water and Power Development Aut­hority (Wapda) says it recorded 8,854 megawatts of hydel power generation on Sunday night — the highest peak-hour hydel generation of the year so far, and 1,277MW more than the level achieved on the same day last year. The generation included 4,926MW by the Tarbela hydel power station, which is 38MW more than the …

ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Monday approved cheaper winter tariff for electricity consumers on incremental consumption and cleared a controversial payment of about Rs131 billion to 11 independent power producers (IPPs) of the 2002 power policy — barring Nishat Chunian. The meeting, presided over by Planning Minister Asad Umar, also cleared the Pakistan Oil Refining Policy, 2021, …

ISLAMABAD: Prime Minister Imran Khan has said that the government is focusing on the ‘ease of doing business’ policy and extending facilities to investors. During a meeting with heads of Chinese companies on Monday, he expressed the confidence that Chinese investment in Pakistan would open up immense employment opportunities. The prime minister said Pakistan could learn a lot from China …

The value of the dollar reached an all-time high against the rupee on Tuesday, reaching Rs168.9 in the interbank market. According to an update posted at 11:39am on Mettis Global, a web-based financial data and analytics portal, the rupee slipped by 80 paisa against the dollar on Tuesday morning, continuing its losing streak against the greenback. The update said the …

Despite being a small district Matiari is socio-economically and culturally vibrant. Without mentioning Shah Abdul Latif Bhitai, a mystic saint, the profile of the Matiari district would always be incomplete. The sufi’s shrine is located in Bhitshah — a town known internationally where men and women with mystic leanings from different parts of the world throng every 14th of Safar, …

Spurred by falling solar photovoltaic (PV) prices and escalating grid tariffs, solar installations, especially those on rooftops, have seen rapid growth in Pakistan. These solar investments, both residential and commercial, are also supported by a decent net metering regime that lets consumers sell excess solar generation during daytime back to the grid. However, despite having a renewables refinance facility from …

“The first thing a refugee asks for upon arrival at a camp is not water or food but the wi-fi password.” This is what Kann Terzioglou, the CEO of Turkish mobile phone operator Turkcell said at the World Economic Forum in Davos, adding that a smartphone has become a basic humanitarian need because it allows displaced people to connect with …

ISLAMABAD: One of the country’s intelligence agencies has raised questions over the Pakistan Oil Refining Policy 2021 being taken up by the Cabinet Committee on Energy for approval on Monday (today). The committee, headed by Planning and Development Minister Asad Umar, will also consider cheaper electricity rates for domestic and commercial consumers for winter space heating, retention of some old …

DUBAI: Private sector companies in the UAE will have to fill 10pc of their positions with Emirati nationals in five years time, the UAE said on Sunday in its latest tranche of economic reforms. The Gulf state also said it plans to spend 24 billion dirhams ($6.53 billion) to create 75,000 private sector jobs for its citizens over five years. …

KARACHI: The advent of Naya Pakistan seems to have set off a real estate gold rush as the number of newly registered companies in the land development segment grew 132 per cent in 2020-21. As many as 1,794 real estate development companies were incorporated in the last fiscal year, up 2.3 times from 773 companies registered in 2019-20, according to …