Business News
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Wapda grants Rs21.5 billion contract for Indus Basin’s telemetry system installation
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[ad_1] A view of dry bed of Indus River at Hussenabad. — APP/File A contract worth of Rs21.534 billion has been awarded by the Water and power Development Authority (Wapda) for installation of telemetry system at 27 key points on Indus Basin Irrigation System (IBIS) for real-time discharge monitoring. A Joint Venture (JV) comprising CDigital…
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Boeing appoints aerospace veteran Kelly Ortberg as CEO to lead turnaround | The Express Tribune
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[ad_1] Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its CEO to turn around the struggling planemaker after a quarter where it lost more than $1 billion. Ortberg will start on Aug. 8 with the monumental task of rebuilding trust with regulators, the industry and the public during a quality crisis, and as…
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Increase in power rates expected by Rs2.63 per unit | The Express Tribune
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[ad_1] Electricity prices are likely to increase by Rs2.63 per unit for consumers, as the Central Power Purchasing Agency (CPPA) has submitted a request to the National Electric Power Regulatory Authority (NEPRA). The proposed hike is aimed at adjusting monthly fuel costs. The government-owned distribution companies have already been charging higher rates, and this adjustment…
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Major reduction in fuel prices expected | The Express Tribune
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[ad_1] Following a decline in global crude oil prices, Pakistan is expected to see a significant reduction in petroleum product prices. Sources indicate that from August 1, petroleum prices could decrease by up to Rs11 per litre. The price of petrol may drop by Rs5.50 per litre, while high-speed diesel (HSD) could see a reduction…
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Aurangzeb outlines tough measures for stability | The Express Tribune
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[ad_1] KARACHI: Finance Minister Muhammad Aurangzeb has reiterated the government’s commitment to achieving macroeconomic stability as a foundation for sustainable growth. Addressing the Karachi Chamber of Commerce and Industry (KCCI) on Tuesday, Aurangzeb highlighted the critical need for difficult decisions to stabilise the economy before pursuing growth-oriented initiatives, according to a press statement released by…
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Finance ministry projects inflation moving towards single-digit rates
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[ad_1] Federal Minister for Finance and Revenue Muhammad Aurangzeb addressing Pakistan Banks Associations Executive Committee at Islamic Chamber of Commerce on July 30, 2024. —APP The Ministry of Finance has forecast July inflation to fall between 12% and 13%, with further cooling in August to 11% to 12%, and expressed optimism about reaching single-digit rates…
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Finance Minister Aurangzeb hints at more interest rate cuts | The Express Tribune
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[ad_1] Listen to article Federal Finance Minister Mohammad Aurangzeb has indicated that there is room for further cuts in interest rates. Speaking at the Karachi Chamber of Commerce, Aurangzeb stressed the importance of macroeconomic governance for economic growth, noting that structural issues in the economy often lead to balance of payment problems when growth increases. Aurangzeb highlighted…
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Global companies face earnings challenge | The Express Tribune
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[ad_1] NEW YORK: Global companies are lowering their full-year sales and profit expectations due to higher interest rates and a weakening Chinese economy, negatively impacting consumer sentiment and diminishing the luster of recent earnings growth. Several prominent companies, including McDonald’s, Nissan, Tesla, Nestle, and Diageo, have failed to meet investor expectations. Approximately 40% of US…
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NEPRA to launch mobile app for quick resolution of electricity complaints | The Express Tribune
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[ad_1] The National Electric Power Regulatory Authority (NEPRA) has announced the launch of a new mobile application to facilitate the swift resolution of electricity complaints, an official press release said. Named “NEPRA Aasaan Approach”, the app aims to provide a user-friendly platform for consumers to report and address their electricity issues promptly. The app, which will…
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Govt proposes risky terms for PIA | The Express Tribune
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[ad_1] ISLAMABAD: The government has proposed buyer-favoured terms for the sale of majority stakes in Pakistan International Airlines (PIA), offering to accept partial purchase payments for the acquisition of majority stakes and allowing debt-funded investments over a period of three years. Under the proposed terms, the buyer will have the option to pay approximately one-third…
