ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) said on Thursday the country’s electricity system was adversely affected in 2020-21 by underutilisation of the most efficient power plants run by regasified liquefied natural gas (RLNG), increase in circular debt, poor governance and fuel supply challenges, which unnecessarily burdened the consumers. In its “State of Industry Report 2020-21”, the regulator said …

MONACO: An investigation into two Belarus team officials who tried to force sprinter Krystsina Tsimanouskaya on a flight from the Tokyo Olympics will now be run by track and field authorities. World Athletics said on Thursday its independent Athletics Integrity Unit is taking over the case from the International Olympic Committee. No timetable was given for the investigation. The Belarus …

LAUSANNE: Boxing bouts for medals at the 2016 Olympics were fixed by complicit and compliant referees and judges, an investigation reported on Thursday. Investigator Richard McLaren was appointed by the International Boxing Association, known as AIBA, and found AIBA officials selected referees and judges to ensure that bouts could be manipulated in Olympic qualifying and at the Rio de Janeiro …

LAHORE: Former Test off-spinner Saqlain Mushtaq’s appointment as Pakistan team’s interim head coach is likely to be extended till the ICC T20 World Cup being held in the UAE and Oman from Oct 17 to Nov 14. The PCB had appointed the 44-year-old Saqlain only for the New Zealand home series which was cancelled after the visiting team left Pakistan …

KARACHI: It rarely happens when batting ace Babar Azam is outshone by a compatriot whenever the Pakistan captain strikes a century. But that was precisely the scenario on Thursday during a high-scoring thriller National T20 Cup clash in Rawalpindi. Haider Ali is not part of the 15-man national squad for the Twenty20 World Cup but still he gifted himself an …

KARACHI: The State Bank of Pakistan (SBP) has imposed 100 per cent cash margin on another 114 items to curb their imports which have grossly destabilised the exchange rate and widened both trade and current account deficits. The sharp rise in the current account deficit (CAD) and steep fall of the rupee against the US dollar forced the economic managers …

KARACHI: Locally assembled Volkswagen, Skoda Crossovers and SUVs are expected to hit the road by the mid of next 2023, a business group announced on Thursday. The announcement was made in a statement of Premier Motors Limited (PML), a licence assembly partner of the German auto giant, Volkswagen Group – which recently has appointed its financial adviser for achieving the …

ISLAMABAD: The Federal Board of Revenue collected Rs1.395 trillion in the first quarter of the current financial year exceeding the target of Rs1.211tr by Rs186 billion, showed provisional data released by the FBR on Thursday. Comparing with the revenue collection of Rs1.01 trillion in 2020, the revenue collection posted 38pc growth in the first quarter this year. The revenue collection …

KARACHI: With its benchmark index losing 12 per cent value in dollar terms, the Pakistan Stock Exchange (PSX) remained the third worst-performing equities market internationally in the July-Sept quarter. According to a research note issued by Topline Secu­rities on Thursday, the quarterly decline follows five consecutive quarters of gains. The KSE-100 index had surged on average 12pc every quarter since …