ISLAMABAD: Federal Minister for Power Division Sardar Awais Ahmed Khan Leghari has taken serious notice of power off-take from small power producers (SPPs) and captive power plants (CPPs) by distribution companies (DISCOs) at tariffs exceeding the prevailing national merit order, according to a statement issued on Wednesday. The matter was revealed during a stock-taking of…
LAHORE: The Pakistan Association of Automotive Parts & Accessories Manufacturers (Paapam) has voiced concern over reports that the draft Automobile & Auto Parts Manufacturing Policy (2026-31) is being forwarded to the International Monetary Fund (IMF) without meaningful consultation with the Engineering Development Board (EDB), parts vendors and other key industry stakeholders. In a statement, Paapam…
KARACHI: Gold prices in Pakistan declined on Wednesday, diverging from gains in the international market, where bullion rebounded from a more than one-week low, supported by softer US Treasury yields and fresh bargain hunting amid geopolitical uncertainty. In the local market, the price of gold per tola fell by Rs1,200 to settle at Rs498,962, according…
Energy minister says Pakistan is not sure when it will get more cargoes from Qatar Pakistan LNG Limited has issued its first spot tender for liquefied natural gas (LNG) since December 2023 amid supply shortfalls triggered by the US-Israeli war with Iran. The company is seeking bids from international suppliers for three LNG cargoes of around…
ASA Bank, Turaco partner to embed insurance into loans, SBP pushes financial inclusion KARACHI: Pakistan’s microfinance sector is moving beyond its traditional focus on credit disbursement by embedding insurance into loan products, signalling a shift towards “risk-protected lending” in a country with one of the lowest insurance coverage rates globally. The emerging model, enabled by…
Expands focus beyond infrastructure financing to fiscal reforms, women’s economic inclusion, critical minerals The Asian Development Bank (ADB) increased its financial commitments to Pakistan in 2025, approving $3.672 billion, which is 22 per cent higher than the $2.995 billion recorded in the previous year. The expansion reflects the bank’s growing engagement in new sectors,…
ISLAMABAD: Pakistan has assured the International Monetary Fund (IMF) that it would review more than 2,660 non-tariff barriers that discourage imports, and many of these will be removed soon, including those restricting the import of mobile phones and cars. In yet another major concession agreed with the IMF under the $7 billion bailout package without…
Crude movement resumes after traffic restrictions halted logistics, forcing temporary shutdown a day earlier ISLAMABAD: The movement of crude oil and petroleum products to and from Attock Refinery Limited resumed late Wednesday night after authorities stepped in to ease disruptions, the refinery’s management said. The restoration was facilitated through the intervention of Petroleum Minister Ali…
Gold prices extended their decline on Thursday in Pakistan as the price of gold per tola dropped by Rs5,200 after the international market saw a dip of $52 per ounce to $4,714. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), in the local market, the price of gold per tola after the drop…
Bank of Punjab President & CEO Zafar Masud. Photo: File The Bank of Punjab (BoP) has entered into a strategic Memorandum of Understanding (MoU) with Stacks, marking an important step toward transforming Pakistan’s remittance landscape and strengthening the country’s digital financial ecosystem, according to a press release. The MoU was signed by Stacks Co founder…