Business

KARACHI: Production of electrical products witnessed a steep fall of over 13 per cent during the first four months of FY24 due to the high cost of manufacturing and the sharp increase in electricity prices. Out of 10, nine electrical products posted negative growth during July-October 2023-24 while others were already on the negative list of production in the previous …

ISLAMABAD: After a decades-long delay, the National Electric Power Regulatory Authority (Nepra) has started granting first-ever separate licences of Suppliers of Last Resort (SoLR) to existing distribution companies (Discos) for 20 years to bifurcate their distribution (wire & pole infrastructure) and electricity supply (commercial & billing etc) businesses for future bilateral competitive power business. This should have happened in the …

ISLAMABAD: The new government in Pakistan must have a plan to tackle the debt challenge, with a reform agenda enhancing financial management, increasing revenue, enforcing fiscal discipline, diversifying funding sources and effectively managing debt, suggests the United Nations Development Programme (UNDP). The UN agency’s latest publication — Development Advocate Pakistan — further suggests that parliament should provide regular oversight of …

KARACHI: Falling world commodity prices, low transportation costs and stability in the exchange rate have failed to bring any respite for the consumers in the last five months as retail prices either crawled up or held unchanged due to an ineffective price checking mechanism. A drop of over 16 per cent in food imports during 5MFY24 to $3.35 billion from …

Bears cemented their position on the trade floor once again as the KSE-100 traded in the red on Tuesday, a continuing trend from previous week. According to the PSX website, the KSE-100 index shed much of its records and dipped by 1356.16, sinking to 60,348.93 points at 10:54am from the previous close of 61,705.09. However by 12:52am, the index plunged by …

UNITED NATIONS: In a startling disclosure, UN Secretary-General António Guterres said on Sunday that 136 UN personnel had lost their lives in Gaza over the past 75 days, marking an unprecedented tragedy in UN history. Mr Guterres expressed deep concern over the appalling human suffering, physical destruction in Gaza, and urged Israel not to continue its ‘collective punishment’ against the …

There’s a continuous debate that burning rice crop residue in Punjab is the primary contributor to smog. Every year, policymakers shift all the responsibility to farmers. In addition to policymakers, urban residents also attribute the emergence of smog to the burning of rice stubbles in Punjab. The case of Lahore is very serious as it retained its position as the …

Wrapping up 2023 may have left many disappointed, dazed and disoriented despite Pakistan managing to avert a sovereign default and navigating through even more challenging conditions. However, for most businesses, the year concluded on a bitter note. Vulnerable segments grappled with the escalating cost of living and diminishing real incomes. The class that had historically adeptly navigated not only survival …

Over the last year, the price per egg has increased by about Rs10, of which the Rs5 hike has come over the last month alone. Though some media reports point towards profiteering by shopkeepers, the recent price hike seems to be driven by a demand and supply gap for a key ingredient in poultry rearing — soybean meal. Over the …

In 2018, Pakistan’s development Roadmap ‘Vision 2025’ targeted increasing female labour force participation to 45 per cent in 2025. However, as we end 2023, Pakistan’s female labour force participation remains at 24pc, with participation in the formal sector lingering at less than 10pc. Time and again, women leave their jobs and either pursue career options which revolve around the school …