Power sector faces Rs560b in losses | The Express Tribune

ISLAMABAD: Federal Minister for Energy Sardar Awais Leghari said on Thursday that the country would face Rs560 billion in losses in the power sector by the end of June this year. He mentioned that Rs200 billion are billed in the power sector but remain unrecovered from consumers, while another Rs300 billion are lost due to […]

Cement sector sends PSX to record | The Express Tribune

KARACHI: Pakistan Stock Exchange (PSX) on Wednesday soared to a new record high as it crossed the 67,700-point barrier with a surge of more than 850 points on the back of investor enthusiasm about the potential policy rate cut and strong cement sales. The stock market followed an upward trajectory right after the commencement of […]

PSX soars to new high of 67,756 points fuelled by cyclic sector

A broker looks at an index board showing the latest share prices at the Pakistan Stock Exchange in Karachi. — AFP/File Pakistan’s stock market scaled a new peak on Wednesday as majority of investors cheered the government’s privatisation push amid hopes of a rate cut especially after signs that inflation was finally cooling down, traders […]

Gas crisis looms as $1bn diverted to domestic sector | The Express Tribune

ISLAMABAD: The gas sector braces for another blow as approximately $1 billion is earmarked for diverting expensive RLNG to the domestic sector in a bid to alleviate the gas crisis anticipated in the fiscal year 2024-25. State-owned oil and gas entities are already staggering under the weight of a circular debt amounting to Rs710 billion, […]

Moody’s upgrades Pakistan’s banking sector outlook to ‘stable’ | The Express Tribune

Moody’s Investors Service has upgraded the outlook of Pakistan’s banking sector from ‘negative’ to ‘stable’, citing easing macro challenges and fiscal pressures. In its report, the agency highlighted the solid profitability and stable funding of banks, which provided a buffer against the country’s macroeconomic challenges and political uncertainties. The report forecasts a modest growth of […]

Transmission sector reforms and load-shedding | The Express Tribune

LAHORE: Electricity load-shedding is back in the last couple of weeks. Urban areas are observing around four to five hours of load-shedding, while the situation is worse in rural areas. The demand for electricity is around 14,500 megawatts while the system is generating around 10,000MW of electricity. The huge shortfall in generation is witnessed despite […]

Despite progress, challenges persist in agriculture sector | The Express Tribune

LAHORE: Pakistan’s agriculture sector had been in the limelight throughout calendar year 2023 but it did not make any significant improvement despite some supportive measures and relief packages announced by the government. Battling with the aftermath of massive flooding in the monsoon of 2022, the agriculture sector, called the backbone of rural economy, somehow managed […]

Finance Ministry opposes new power sector management proposal | The Express Tribune

ISLAMABAD: The finance ministry has not supported an official proposal to appoint senior armed forces officers as heads of new Performance Management Units (PMUs) in the rotten power distribution companies to improve their management.  But the finance ministry backed the original decision of the Special Investment Facilitation Council (SIFC) to give a role to the […]

Financial misconduct claims in fertiliser sector, CPPs | The Express Tribune

ISLAMABAD: Government officials are levelling accusations against fertiliser manufacturers, claiming that they are profiting at the expense of farmers while enjoying the benefits of cheaper gas. A recent Economic Coordination Committee (ECC) meeting highlighted a disparity in the intended purpose of supplying natural gas to the fertiliser sector at subsidised rates. While the goal was […]

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