Pakistan seeks to renegotiate power deals to slash unsustainable electricity costs, says minister Leghari | The Express Tribune
Pakistan is renegotiating contracts with independent power producers to rein in “unsustainable” electricity tariffs, Energy Minister Awais Ahmad Leghari has said as power customers tackle with soaring unsustainable costs. Rising power tariffs have stirred social unrest and shuttered industries in the $350 billion economy, which has contracted twice in recent years as inflation hit record highs. […]
Sindh seeks to procure double cabins for Rs2bn
A representational image of double cabin vehicles. — Reuters KARACHI: As the cash-strapped country struggles to cut government expenditures amid fiscal constraints, Sindh seeks to procure 138 double cabin vehicles worth Rs2 billion for assistant commissioners (ACs), exposing how bureaucracy continues to squander already scarce national funds. The federal government is currently pressing ahead with […]
Salt exports set to surge as Bangladesh seeks alternatives | The Express Tribune
KARACHI: Speculation among salt traders about a potential surge in salt exports to Bangladesh has intensified recently, driven by political developments in Bangladesh and environmental factors affecting salt production in India, the largest supplier to the Bangladeshi market. Industry insiders report a noticeable increase in quotation requests from Bangladeshi traders, largely due to Bangladesh’s recent […]
Pakistan seeks Turkish expertise to enhance aviation industry | The Express Tribune
Listen to article Finance Minister, Senator Muhammad Aurangzeb has highlighted the significance of collaboration with Turkiye in the aviation sector, describing it as a “vital component” of the two nations’ bilateral relations. His remarks came during a meeting on Friday with the Chairperson of Pegasus Airlines, Mehmat T. Nane, and the CEO of Lucky Cement Limited, Muhammad […]
K-Electric seeks Rs5.45 per unit hike in already soaring power tariff
A view of the K-Electric head office in Karachi. — K-Electric website/File ISLAMABAD: K-Electric, the coastal metropolis’s only power utility, on Saturday requested a Rs5.45 per unit increase in the electricity tariff under the fuel cost adjustment (FCA) for May and June 2024. If approved by the National Electricity Power Regulatory Authority (Nepra), this hike […]
‘Riding two horses at once’: Pakistan seeks UK advice for economic plan | The Express Tribune
ISLAMABAD: As the United Kingdom government starts advising Pakistan to develop a “home-grown” economic plan, confusion persists in official circles about the prime minister’s move to outsource the planning when the script of a new International Monetary Fund (IMF) programme has already been finalised. Stefan Dercon, the policy advisor of the Foreign Commonwealth and Development […]
REIT fund seeks Rs403m investment via IPO | The Express Tribune
KARACHI: TPL Real Estate Investment Trust (REIT) Fund-I is scheduled to offer a minimum of 1.25% (22.94 million) units at Rs17.59 per unit to the general public with the aim of raising Rs403 million in the ongoing week at the Pakistan Stock Exchange (PSX). Fund runners may opt for selling an additional 1.22% (22.39 million) […]
PASSCO seeks more credit than wheat cost | The Express Tribune
ISLAMABAD: The Ministry of Finance has raised objections to the cash credit limit sought by Pakistan Agricultural Storage and Services Corporation (Passco), which is higher than the cost of wheat to be procured from farmers. The Economic Coordination Committee (ECC) has recently approved a cash credit limit of Rs169 billion for Passco and has set […]
Pakistan seeks investment, not loans | The Express Tribune
ISLAMABAD: Prime Minister Shehbaz Sharif has asked friendly countries that Pakistan needs the injection of critical investment in different projects, instead of loans that add to its debt burden, to rejuvenate the faltering economy. Addressing members of the cabinet at a meeting last week, the premier appreciated the Special Investment Facilitation Council (SIFC), observing that […]
SNGPL seeks 147% hike in gas price
LPG cylinder with a stove is being sold at a shop in Hyderabad on March 17, 2024, as the demand for composite cylinders has increase in the city amid prolonged gas load-shedding. —PPI LAHORE: The Sui Northern Gas Pipelines Limited (SNGPL) has sought from the Oil and Gas Regulatory Authority (Ogra) to increase the gas […]