IPP built for Rs50 billion has received Rs400 billion in payments: FPCCI | The Express Tribune

Abdul Mohamin, the acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called for public disclosure of details related to agreements with Independent Power Producers (IPPs). During a press conference on Monday, Mohamin highlighted that IPPs are receiving monthly capacity payments amounting to Rs150 billion, including payments to non-operational and […]

PSX tumbles as KSE-100 index falls below 80,000 points | The Express Tribune

The trading week started on a bearish note, with the Pakistan Stock Exchange (PSX) experiencing a significant drop compared to previous weeks which was marked with high points and investors’ confidence. The KSE 100 Index fell below the 80,000 points level, marking a sharp decline of 625 points or 0.79% to reach 79,492 points, three […]

Capacity charges driving up Pakistan’s electricity costs | The Express Tribune

The escalating electricity costs in Pakistan are largely attributed to capacity charges, with 22 government-owned companies accounting for a substantial 48% of these charges. In the past three months alone, these companies have received a staggering Rs169.36 billion in capacity charges, according to sources. This financial allocation continues despite many of these power plants not […]

Electricity consumers in for another shock | The Express Tribune

ISLAMABAD: The consumers of power distribution companies (DISCOs) as well as the people of the country’s economic hub—Karachi—are in for another shock as the power regulator may further raise the prices of per unit electricity. K-Electric, the power utility that supplies electricity to Karachi, has requested Nepra for an increase of Rs5.45 per unit in […]

OMAP alerts PM Shehbaz of impending Petroleum Industry crisis | The Express Tribune

LAHORE: The Oil Marketing Association of Pakistan (OMAP) has penned a letter to the Prime Minister Shehbaz Sharif stating that the petroleum industry in the country is “on the brink of collapse.” In the letter written to the PM on Saturday, Chairman of the Association Tariq Wazir Ali appealed to the premier to intervene in […]

Ultra-rich threaten to leave Britain over tax changes | The Express Tribune

For ultra-wealthy entrepreneur Bassim Haidar, living in London has become an expensive indulgence he can no longer justify. While new British Prime Minister Keir Starmer settles into No. 10 Downing St, Haidar is searching for homes in Greece and Monaco, because a proposed inheritance tax revamp will make Britain a ‘no go’ zone for the […]

Industrialists fear decline in textile exports | The Express Tribune

LAHORE: Textile exporters have voiced fear that the new fiscal year will pose a significant challenge to the entire industry, as it is becoming increasingly difficult to sustain and fetch export orders in the current high-cost scenario. In the previous fiscal year, textile exports were nearly flat at $16.7 billion. However, they said, “we fear […]

EU, Serbia ink pact to start lithium battery production | The Express Tribune

SERBIA: The European Union and Serbia signed a deal Friday to develop the supply of lithium seen as a crucial building block to achieve Europe’s transition to a green economy. The memorandum of understanding inked during a “critical raw materials summit” in Belgrade is seen as the first step in developing Serbia’s lithium resources and […]

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