Express
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Reforms to end reliance on IPPs | The Express Tribune
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[ad_1] ISLAMABAD: The energy ministry had embarked upon major reforms, including operationalisation of an energy exchange, which would allow the power plants to sell electricity to the buyer, Energy Minister Awais Leghari said on Wednesday. Leghari told the Senate Standing Committee on Energy that the ministry was currently facing problems related to high electricity prices.…
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Rupee drops for third consecutive day | The Express Tribune
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[ad_1] KARACHI: Pakistani currency dropped Rs0.05 and closed at Rs278.73 against the US dollar in the inter-bank market on Wednesday, maintaining its losing streak for the third consecutive day amid conflicting reports about the resumption of smuggling of foreign currencies from Pakistan to neighbouring countries. According to the State Bank of Pakistan (SBP) data, the…
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Industrialists call for urgent reforms to rescue Pakistan Post | The Express Tribune
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[ad_1] KARACHI: Industrialists have urged the revitalisation of the Pakistan Post Office, stressing that with useful reforms, the institution could become profitable again. They stated that the Post Office is currently facing severe challenges due to prolonged neglect, mismanagement, and corruption. Despite offering essential services such as communication, remittances, and postal deliveries, the department is…
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Greater access to US markets sought | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Industries, Production, and National Food Security Rana Tanveer Hussain on Wednesday underscored the necessity of granting new Pakistani agricultural products access to the American market. During a meeting with United States Ambassador to Pakistan Donald Blome, Hussain expressed his appreciation for the ongoing US cooperation, particularly highlighting the Research and…
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DISCOs question efficacy of Rs73 billion project | The Express Tribune
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[ad_1] LAHORE: The Power Division and ex-WAPDA DISCOs are in conflict over the implementation of the Rs73 billion “Asset Performance Monitoring System” project as the two sides have conflicting views on its effectiveness. In a letter sent to the DISCOs, the power division directed the power companies to submit the PC-1 of the project “Asset…
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Progress on Tarbela 5th extension reviewed | The Express Tribune
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[ad_1] LAHORE: The Chairman of the Water and Power Development Authority (WAPDA), Engr Lt Gen Sajjad Ghani (Retd), conducted a thorough visit to the Tarbela 5th Extension Hydropower Project to review the progress of its key components. He was accompanied by a World Bank team led by Advisor Masood Ahmed and Task Team Leader Gautum…
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Why is electricity so expensive in Pakistan? | The Express Tribune
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[ad_1] Energy Minister Awais Leghari revealed during a meeting of the Senate Standing Committee on Energy, chaired by Mohsin Aziz, that a unit of electricity from an Independent Power Producer (IPP) that cost Rs. 3 in 2016 is now priced at Rs. 285. That reflects a 9600% increase in eight years. The meeting addressed the…
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Local gold prices fall by Rs500 per tola amid drop in global rates | The Express Tribune
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[ad_1] In local markets, the price of 24-carat gold per tola fell by Rs500, dropping to Rs246,000 from Rs246,500. This decrease reflects the significant drop in the international bullion market, where gold prices declined by $17 to settle at $2,400 per ounce. This decline followed a previous decrease of $16, which had brought the price…
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Analysts urge interest rate cuts, PPP reviews | The Express Tribune
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[ad_1] KARACHI: Economic analysts and industrialists are advocating for a reduction in interest rates and a review of public-private partnerships (PPP) to bolster Pakistan’s economy and industrial growth. They argue that aggressive interest rate cuts could stimulate economic growth, encourage investment, and ease financial pressures on businesses and consumers. Ismail Suttar, President of the Hub…
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Berkshire Hathaway’s Apple stake cut sparks major tech sell-off | The Express Tribune
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[ad_1] Apple (AAPL.O) and Nvidia (NVDA.O) spearheaded a significant sell-off in technology stocks on Monday as US recession concerns and Berkshire Hathaway’s (BRKa.N) decision to cut its stake in Apple ended a months-long rally in the sector. High-performing shares of Alphabet (GOOGL.O), Amazon (AMZN.O), Meta Platforms (META.O), Microsoft (MSFT.O), and Tesla (TSLA.O), along with Apple…
