A representational image of electricity poles. — Reuters/File IPPs want government to reduce rates of its own powerhouses. They demand withdrawal of 38% “undue” tax on electricity bills. Hint at approaching International Court of Arbitration if coerced. LAHORE: As the masses continue to face the brunt of sky-high electricity bills due to exorbitant tariffs, the independent … Read more
The government has reduced the profit rates on various national savings schemes and certificates by up to 1.22 percentage points, further discouraging savings and exacerbating Pakistan’s already low domestic savings rate. According to data from the Central Directorate of National Savings (CDNS), the return on the Sarwa Islamic Term Account has been lowered from 17.58% … Read more
Listen to article The Federal government has announced a rise in electricity prices by Rs 1.74 per unit, effective immediately. This adjustment follows a notification issued by the government and will impact all electricity consumers, including those served by Distribution Companies (DISCOs) and K-Electric. The price hike, implemented as part of a quarterly adjustment, will add an … Read more
A man rides a bicycle near power lines connecting pylons of high-tension electricity, in Brasilia, Brazil August 31, 2017. — Reuters/File Both sides understand that status quo can’t be maintained: Leghari. Stresses stakeholders to “give in to a certain point” at earliest. Govt aims to bring tariffs down to 9 from 28 US cents per … Read more
The Federal Board of Revenue (FBR) is preparing to raise the property valuation rates from 20% to 100% in 42 major urban centres across Pakistan, depending on the fair market value of the area. According to a media report, the updated valuation tables, finalized by the FBR, will be forwarded to the Ministry of Law … Read more
ISLAMABAD: The Central Directorate of National Savings (CDNS) has adjusted the profit rates on several of its National Savings Schemes, implementing notable reductions while leaving others unchanged. The most significant cut is observed in the profit rate of the Savings Account (SA), which has been reduced by 150 basis points (bps), dropping from 20.5% to … Read more
In local markets, the price of 24-carat gold per tola fell by Rs500, dropping to Rs246,000 from Rs246,500. This decrease reflects the significant drop in the international bullion market, where gold prices declined by $17 to settle at $2,400 per ounce. This decline followed a previous decrease of $16, which had brought the price down … Read more