The European Union’s (EU) top diplomat, Kaja Kallas, on Monday termed Pakistan a major regional power and an important partner of the EU as the two sides held a strategic dialogue in Islamabad. Kallas, who serves as vice-president of the European Commission and the EU high representative for foreign affairs and security policy (HR/VP), is […]
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Earlier this year, when the Iran conflict disrupted oil flows across the Strait of Hormuz, every fuel-importing economy in the region had to recalculate its energy security. The cost of an LNG cargo into Karachi rose. The risk premium on Middle Eastern crude widened. Insurance rates for Gulf shipping spiked. Pakistan, predictably, did the same […]
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US-listed cryptocurrency exchange Coinbase is allowing users in India to make trades using the rupee, marking a key expansion of its services in Asia’s third-largest economy. Customers can deposit and withdraw rupees through the so-called immediate payment service channel, the company said on Monday. They will also have access to spot trading across a range […]
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Pakistan’s growing reliance on higher consumption taxes and punitive Federal Excise Duties (FED) on food items and fast-moving consumer goods (FMCGs) for revenues is increasingly showing signs of the Laffer Curve effect. The Laffer Curve is the economic theory that, beyond a certain point, higher tax rates begin to squeeze rather than increase government revenue. […]
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BAJAUR: A solar power project launched by the Pakhtunkhwa Energy Development Organisation (Pedo) to provide uninterrupted electricity to the Khar Bazaar at low rates has yet to be completed despite the fact that work on it was launched in 2019, official sources and traders said. Sources in Pedo told Dawn that the Mini Solar Grid […]
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KARACHI: Saima works as a maid in a posh locality in Karachi. She lives in Hijrat Colony. “I used to buy a 1kg gas cylinder for Rs280, now it costs Rs450,” she laments. All her essential expenses have surged. The gallon of salty water she uses for cleaning has gone from Rs20 to Rs70, while […]
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• OCAC demands urgent meeting with PM, seeks his intervention • Calls for release of Rs66bn in withheld PDCs; urges Ogra to settle all claims by June 8 • Labels Level-3 EV charger mandates impractical without wide adoption ISLAMABAD: The country’s oil industry has protested the slow disbursement of their price differential claims (PDCs) against […]
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LAHORE: Pakistan emerged as the largest buyer of US cotton for the second consecutive week despite a sharp decline in domestic cotton and phutti prices during the Eidul Azha holidays, prompting industry bodies to urge the federal and provincial governments to reduce taxes, energy tariffs and interest rates in the upcoming budgets to support the […]
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ISLAMABAD: Power Minister Awais Leghari said on Sunday that there had been “no sufficient outcome” of talks to secure discounts from Chinese power producers thus far, unlike over Rs3.5 trillion in savings secured through revised agreements with other independent power producers (IPPs) and public sector plants. In March, the government had informed a parliamentary panel […]
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HYDERABAD: A member of the Executive Committee of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Adeel Siddiqui, has deplored the poor state of industrial infrastructure in Sindh, particularly in the Hyderabad and Kotri industrial estates. In a statement issued on Saturday, Mr Siddiqui said the condition of industrial areas remained deplorable despite […]
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