Robot sunk its metal claws into worker’s back and arm leaving an “open wound” on his left hand A general view of the Tesla gigafactory in Austin, Texas, US, February 28, 2023. — Reuters Witnesses were left horrified when a Tesla engineer was fatally mauled by a robot during a “violent” malfunction at the … Read more
ISLAMABAD: As the calendar flips to 2024, consumers are bracing themselves for yet another blow to their household budgets. The National Electric Power Regulatory Authority (Nepra) has signalled a potential surge in electricity prices, with a proposed increase of up to Rs4.66 per unit in the electricity bills for January 2024. This anticipated hike, … Read more
ISLAMABAD: Pakistan’s economic challenges—higher budget and current account deficits—have been brought down to a manageable level, laying the foundation for higher economic growth, claimed the Finance Ministry’s Economic Advisor wing on Wednesday. In its monthly economic outlook report, the Finance Ministry’s Economic Advisor wing pronounced that inflation would now settle to a “moderate level,” … Read more
The State Bank of Pakistan (SBP) has outlined the procedure for accessing the International Toll Manufacturing (ITM) facility within the Export Facilitation Scheme (EFS), allowing the import of input goods directly or indirectly from foreign principals without requiring any remittance of foreign exchange. The Federal Board of Revenue (FBR), through SRO 1093(I)/2023 dated August … Read more
Finance ministry has so far refused to rescue the PIA and is reluctant to take any firm decision All PIA flights to Europe have been temporarily cancelled for a period of six months. — AFP/File CAA grants Rs5bn billion facility to keep PIA afloat. Finance ministry refuses to provide any guarantees. Aviation ministry makes last-ditch … Read more
Engro Fertiliser, Fauji Fertiliser (Rahim Yar Khan), and Fatima Fertiliser will pay Rs580/MMBtu for feedstock, Rs1,580 for fuel stock A worker drains water from a gas filter at the Egas processing plant in Gujar Khan, Pakistan March 10, 2017. — Reuters Plants to pay Rs580/MMBtu for feedstock, Rs1,580 for fuel stock. Petroleum division official says … Read more
ISLAMABAD: As 2023 draws to a close, it has left behind a mix of despair and hope. The economy had teetered on the brink of default but was then propped up with life support. The future of 242 million people now hinges on the anticipation of a return to political and economic stability at … Read more
KARACHI: Distressed growers in Sindh are grappling with a severe shortage of fertilisers, significantly impacting wheat sowing and vegetable cultivation. The scarcity, if not promptly addressed, could escalate into a looming threat to food security, warn dismayed farmers. Growers are urging authorities to take immediate action to ensure the uninterrupted availability of fertilisers in … Read more
KARACHI: Fulfilling another International Monetary Fund (IMF) condition, the caretaker government has finally operationalised the state-owned EXIM Bank, the export and import development finance institution (DFI), in line with global practices. This move assigns the bank the crucial task of growing and diversifying the country’s exports while creating import substitution opportunities. The establishment of … Read more
ISLAMABAD: Caretaker Federal Minister of Commerce and Industry, Gohar Ijaz, released trade figures of the first 20 days of this month. Through a statement issued on Tuesday, the minister celebrated what he claimed to be a 33.1 % year on year growth in the past 20 days of December. ”The Ministry of Commerce is … Read more