ISLAMABAD: The share of inexpensive hydropower in overall power generation has gone up, but ex-Wapda distribution companies (Discos) have sought a 53 per cent increase in fuel charges (Rs2.66 per unit hike) for electricity consumed in September mainly due to expensive imported fuels — coal, LNG and furnace oil. The National Electric Power Regulatory Authority (Nepra) has accepted the petition …

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a strong rally on Wednesday as investors heaved a sigh of relief over less than expected current account deficit (CAD). The KSE-100 index gained 870 points, or 1.95 per cent, to close at 45,499.46 points. The CAD amounted to $1.11 billion in September versus $1.47bn in the preceding week, which improved investors’ sentiments, …

ISLAMABAD: Days after raising the petrol prices to a record level, the federal government has decided in principle to provide subsidised petrol to motorcycle and rickshaw owners. The government also made up its mind to give another round of stipend to the less privileged people under the Ehsaas programme enabling them to get essential food items at comparatively reduced rates. Both decisions …

KARACHI: The country’s current account deficit (CAD) swelled to 4.1 per cent of GDP in the first quarter exceeding the 2-3pc range projected by the State Bank of Pakistan (SBP) for 2021-22. However, the CAD narrowed 24 per cent to $1.113 billion in September from $1.473bn in the preceding month. The rising import bill kept the exchange rate under pressure …

State Bank of Pakistan (SBP) Governor Reza Baqir on Wednesday said the depreciation of the rupee against the US dollar had benefitted overseas Pakistanis sending remittances to the country. Addressing a press conference in Manchester in the UK, he said: “The number of remittances sent by our overseas Pakistanis — after their hard work and effort — is increasing due …

Nine months after being expelled from social media for his role in inciting the Jan 6 Capitol insurrection, former President Donald Trump said on Wednesday he is launching a new media company with its own social media platform. Truth Social will be created through a new company formed by a merger of the Trump Media and Technology Group (TMTG) and a …

DEHRADUN: The death toll from days of flooding and landslides in India and Nepal crossed 100 on Wednesday, including several families swept away or crushed in their homes by avalanches of mud and rocks. Experts say that they were victims of ever-more unpredictable and extreme weather across South Asia in recent years caused by climate change and exacerbated by deforestation, damming and …

Four people were killed and 47 were hurt in a gas explosion at a BBQ restaurant in China on Thursday, the local government said. The explosion in northeastern Shenyang city shattered the windows of nearby buildings and halted traffic, state media said. Nothing was left of the restaurant except exposed structural beams, according to videos circulating on Chinese social media. …

Foreign Minister Shah Mahmood Qureshi arrived in Kabul on Thursday, leading a high-level delegation to meet with Afghan officials and leaders on bilateral relations and ways to strengthen cooperation, the Foreign Office (FO) said in a statement. Footage released by state broadcaster Associated Press of Pakistan shows Qureshi disembarking the plane, followed by Inter-Services Intelligence chief Lieutenant General Faiz Hameed. They are …

Pakistan has called on the United Nation’s Decolonisation Committee and the Security Council to take action to end India’s colonialisation of Jammu and Kashmir and enable its people to exercise their right to self-determination. “Eradicating colonialism is part of the unfinished agenda of the United Nations,” Ambassador Munir Akram emphasised in a speech to the General Assembly’s Special Political and …