Economy

Introduction The National Electric Power Regulatory Authority (Nepra) has approved a significant increase in electricity tariffs, raising rates by up to Rs1.90 per unit under the quarterly adjustment for the fourth quarter of the financial year 2023-24. This decision is set to impose a financial burden of approximately Rs46 billion on consumers across the country, including those served by state-owned …

Introduction In a significant development, Saudi Arabia has made a strategic offer to acquire a 15% stake in Pakistan’s Reko Diq mining project, coupled with a substantial grant to build infrastructure around the mining area. This marks the first major investment under the Special Investment Facilitation Council (SIFC) framework and could pave the way for strengthened economic ties between the …

FBR Appeals to Traders for Dialogue Ahead of Planned Strike Against Tajir Dost Scheme In a bid to avoid an escalating conflict with the trading community, the Federal Board of Revenue (FBR) has reached out to traders, urging them to present their demands before resorting to a nationwide shutter-down strike. The strike, planned for August 28, 2024, is in response …

Government Reconsiders Cap on Solar Energy Production for Export-Oriented Industries The Pakistani government, through its Minister for Commerce, Jam Kamal Khan, has announced a significant move that could reshape the landscape for export-oriented industries, particularly in the sports goods sector. During a virtual meeting with the Sectoral Council for Sports Goods, the minister assured industry representatives of the government’s unwavering …

Introduction Pakistan finds itself in a state of economic inertia, where the usual state of affairs continues without any substantial efforts to initiate meaningful reforms. The conversations surrounding the annual budget and the IMF package may have faded from the public discourse, but the economic challenges remain as daunting as ever. Without concrete actions, the nation risks remaining a victim …

Introduction In a groundbreaking development for agricultural trade relations between China and Pakistan, the first-ever shipment of Chinese homegrown white broiler eggs has been successfully exported to Pakistan. This inaugural shipment, which included 172,800 “Guangming No 2” White Feathered Broiler eggs, marks a significant milestone in the collaboration between the two countries’ poultry industries. Significance of the Shipment This export …

The federal government has decided to shut down the Utility Stores Corporation (USC) as part of its efforts to withdraw from non-essential business operations. This decision was disclosed by the Secretary of Industries & Production during a meeting of the Senate Standing Committee on Industries and Production on Friday. The announcement came in response to an inquiry from Senator Saifullah …

Introduction For the third consecutive fortnight, the prices of major petroleum products—petrol and high-speed diesel (HSD)—are anticipated to decrease by approximately Rs5-6 per litre. This reduction is primarily attributed to the declining international market rates for the fortnight commencing September 1. International Market Influences Informed sources have indicated that the prices of petrol and HSD have fallen in the international …

SBP Foreign Exchange Reserves Post Marginal Weekly Increase The State Bank of Pakistan (SBP) has reported a slight increase in its foreign exchange reserves for the week ending August 16, 2024. According to the latest data released by the central bank on Thursday, the reserves held by the SBP have risen by $19 million on a weekly basis. The Numbers …

Pakistan is facing potential threats to its exports and foreign direct investment (FDI) due to the possibility of failing to meet global climate change compliance requirements. As international buyers increasingly demand transparency from domestic producers regarding their environmental practices, Pakistan’s position in the global market could be jeopardized. At the launch of the report titled “Pakistan’s Climate Crossroads: Private Sector …