Blog

LAHORE: The industrial community of Punjab, particularly the value-added textile export sector, has condemned the proposed increase in base tariffs sought by power distribution companies (DISCOs), including Islamabad, Faisalabad and Lahore electricity supplying companies, describing the move as unjustified and disastrous for an already struggling manufacturing base. Industrial associations questioned why the government continues to allow DISCOs to demand further tariff escalation when electricity prices have already risen, and power consumption is visibly declining due to the closure of industrial units. Reacting to the public hearing conducted by the National…

ISLAMABAD: With the imminent entry of private-sector investors in the gas market, the government will restructure public utilities by ending the fixed asset return formula to run them on a commercial basis. The government has already increased the allocation of gas from 10% to 35% to the private sector from the new gas fields. So far, only two state-owned gas utilities have been functioning, but the entry of private-sector suppliers will spark competition in the gas market. The Oil and Gas Regulatory Authority (Ogra) has conducted hearings to grant licences…

KARACHI: The Pakistan Stock Exchange (PSX) opened the week on a strong note as bullish sentiment dominated trading throughout the session. Investor confidence was buoyed by expectations that the International Monetary Fund (IMF) Executive Board would approve the long-awaited $1 billion disbursement for Pakistan later in the day. The benchmark KSE-100 index touched the day’s peak at 168,755 and the low at 167,386, ultimately settling at 168,303, up 1,218 points, or 0.73%. The rally reflected optimism across key sectors, particularly cement, banking, fertiliser and energy. The anticipated IMF’s approval reduced…

ISLAMABAD: Pakistan’s lifeline – the Indus Basin Water System – is facing mounting threats from upstream water controls and deep-rooted infrastructure challenges, while over 80% of the population lacks access to safe drinking water, leading to widespread waterborne diseases, according to a new report by the Asian Development Bank (ADB). The Asian Water Development Outlook report says Pakistan remains a severely water-stressed country, with per capita water availability standing 35% below the international benchmark due to rapid population growth. The report, which assessed 50 Asian countries, evaluated performance across rural,…

KARACHI: Gold prices in Pakistan increased on Monday, mirroring gains in the international market as investors awaited the US Federal Reserve’s policy meeting. Expectations of an interest rate cut kept the dollar subdued, helping drive bullion demand. Domestically, gold per tola rose by Rs1,600 to Rs443,762, while the 10-gram rate reached Rs380,454, up Rs1,372, according to the All Pakistan Sarafa Gems and Jewellers Association (APGJSA). The uptick follows a recent dip, when gold fell to Rs442,162 on Saturday. Internationally, spot gold gained 0.4% to $4,214.41 per ounce, while US gold…