The government has estimated power tariff reduction of only Rs0.50 per unit following revision in agreements with seven independent power producers (IPPs). However, officials of the Power Division claimed that total savings would be Rs920 billion over the entire life of the private-sector IPPs. The savings comprise capacity payments to the IPPs, but the amount is very low when compared with the
National Food Security and Research Minister Rana Tanveer Hussain said on Monday that there was no shortage of sugar in the country, state-owned Radio Pakistan reported . Speaking at a press conference, the minister rejected reports that the commodity was being sold at Rs180 per kilogramme. Contrary to the rates announced by the prime minister and several government attempts to maintain reta
Zarai Taraqiati Bank Ltd (ZTBL) and HBL Zarai Services Ltd have signed a memorandum of understanding (MoU) to promote financial inclusion and enhance agricultural services for farmers nationwide. This collaboration aims to facilitate the farming community in adopting innovative agricultural technologies and practices to improve farm productivity and livelihood of the rural populace. The pres
Oil prices gained one per cent on Monday as US President Donald Trump said he will impose a 25pc tariff on countries that buy oil and gas from Venezuela. Price gains were capped, however, as the US gave oil producer Chevron until May 27 to wind down its oil operations and exports from Venezuela. Trump had initially given Chevron 30 days from March 4 to wind down that licence. The two moves t
Calling for regional cooperation to mobilise climate finance and ease political tension and restrictions to foreign direct investment, the Asian Development Bank has advised Pakistan to go for full merchant adoption and digital payment systems. In its ‘Asian Economic Integration Report 2025’ released on Monday, the Manila-based lending agency noted that the Asian region had a greater potential