Articles for tag: economic impact, economic recovery, energy cost, energy costs, energy prices, financial barriers, high energy costs, industrial recovery, industry challenges, industry performance, LSMI, production, yearonyear

January 17, 2025

LSMI production is down 3.8% year-on-year

Listen to the article KARACHI: Large-Scale Manufacturing Industries (LSMI) output fell 3.8% year-on-year (y-o-y) in November 2024, highlighting persistent challenges in key sectors such as high energy costs and weak consumer demand. On a month-on-month (MoM) basis, output also declined by 1.2%, indicating subdued industrial activity amid economic headwinds. The drop in the LSMI was mainly due to significant contractions in key sectors such as furniture (-53.3%), coke and oil (-16.2%) and other manufacturing (-13.3%), according to data of the Pakistan Bureau of Statistics (PBS). ). In the first five months of 2015, the LSMI recorded a cumulative decline of

September 2, 2024

News Desk

Business

providing digital lifeline for Pakistan’s economy

KARACHI: The landscape of Pakistan’s economy has been significantly reshaped by the growing freelance sector, which has emerged as a vital force in the nation’s economic narrative. The proliferation of freelancers in Pakistan is not just a trend but a transformative movement that has redefined the traditional pattern of employment. With more than 1.5 million freelancers contributing to the economy, Pakistan has seen a boom in digital entrepreneurship and a diversification of its economic activities. Recent data from the State Bank of Pakistan (SBP) highlights the importance of the self-employed sector in strengthening the country’s foreign exchange reserves. In fiscal

August 29, 2024

News Desk

Business

Consumers paying too much for electricity: NTDC

Islamabad: Officials of the National Transmission and Dispatch Corporation (NTDC) made a shocking revelation on Wednesday that consumers were paying 40,000 megawatts (MW) of power despite consuming less electricity. “Consumers use 12,000-13,000 MW of electricity but have to pay for 40,000 MW of power,” NTDC officials said during the National Electricity Regulatory Authority (Nepra) public hearing in the federal capital. Consumers are set to get a nominal reduction in electricity rates of up to 31 paisa per unit due to fuel adjustment for the month of July 2024. The Central Power Purchase Authority (CPPA) had asked for a reduction in

June 9, 2024

News Desk

Business

Political chaos, excessive energy costs are cited as key challenges

KARACHI: Sindh’s former caretaker minister for industries and commerce Muhammad Younus Dagha said that if two major challenges, including political instability and high energy costs, are brought under control, the country can grow by leaps and bounds. He said that the caretaker government had made efforts to improve the performance of government services despite the limited time and won laurels. “The system of electronic services must be continued and not reversed. Karachi unfortunately has no say in policymaking despite the fact that it contributes significant revenue to the national exchequer.” He emphasized the need to address the issues of the

February 23, 2024

News Desk

Business

PBF is asking for a civilian finance minister

LAHORE: The Pakistan Business Forum (PBF) said that giving a technocrat the role of finance minister would pose significant challenges for the country amid the current economic climate. “Any technocrat may struggle to negotiate a deal that balances economic stabilization with the growing hardships people face, potentially raising concerns about conflicts of interest,” said Khawaja Mahboobur Rehman, PBF President. “PBF sees Ishaq Dar as someone who has earned a reputation as a ‘tough negotiator’ with the IMF and remains a viable option,” Rehman said during a media interaction on Thursday. He urged the prime minister (in waiting) to appoint a

LSMI production is down 3.8% year-on-year

providing digital lifeline for Pakistan’s economy

Consumers paying too much for electricity: NTDC

Political chaos, excessive energy costs are cited as key challenges

PBF is asking for a civilian finance minister

Asif Khaliq drives blue-eyed Chaiwala Arshad Khan’s London success

Munir and Naqvi Join Makkah Pact Talks in Tehran

Iran Says the Border Is Open as Pakistan Ships LPG by Sea