The February 2024 Economic Update and Outlook uploaded on the Finance Division website on the last day of the month presented the customary dichotomy between the analysis and the statistical data. Examples abound, so to speak: (i) the analysis referred to the caretaker government taking steps to reduce unproductive expenditure. This claim is easily disproved by the data at the…
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At the Energy Summit held in Karachi, industry leaders underscored the pivotal role of insurance in driving investment and innovation within Pakistan’s energy sector. Addressing critical challenges and exploring opportunities for sustainable development, experts emphasized the importance of insurance coverage in mitigating risks and promoting long-term confidence among investors. Chairman of Lockton MENA, Ata Khatib, highlighted the indispensable nature of…
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Pakistan Limited (SPL) revealed its financial results for the fiscal year ending December 31st, 2023, showcasing a remarkable turnaround with a profit after tax of Rs 5.8 billion. This marks a notable shift from the previous year’s loss of Rs 72 million. The positive financial trajectory comes amidst strategic changes, including the pending sale of Shell Petroleum Company Limited’s majority…
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Sindh Chief Minister Syed Murad Ali Shah convened with a high-powered delegation from the World Bank to deliberate on crucial reforms aimed at bolstering the Karachi Water Board and enhancing the province’s irrigation system. Led by Water Global Director Saroj Kumar Jha and World Bank Country Director Najy Binhassine, the discussion underscored the pressing need for sustainable water management in…
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With ballot-box rigging, arbitrary arrests, politicization of the judiciary, media censorship, and endless internet blackouts, democracy has become a distant memory in Pakistan. The elections held on February 8, after two extremely turbulent political years, were a sad illustration of this. A lacklustre campaign didn’t discourage people from showing up at the ballot box in greater numbers than predicted. This…
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From February 27th to 29th, 2024, the bustling city of Lahore has become the epicenter of what was heralded as a landmark event in the renewable energy sector, the 14th International Renewable Energy Exhibition & Conference-Solar Pakistan. Hopewind brought its all-scenario PV inverters dedicated to different PV applications at this exhibition. As a country boasting abundant sunlight resources, the average…
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Former PM Shahid Khaqan Abbasi strongly urges new federal govt to roll out privatisation agenda in energy sector to save national economy Islamabad Former prime minister, Shahid Khaqan Abbasi, has strongly urged the Shehbaz Sharif-led new federal government to urgently implement the agenda of privatisation, particularly in the energy sector as the greater involvement of the private sector is key…
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Solar energy continues to redefine modern living, offering a sustainable environment for communities worldwide. RedSolar showcased its innovative solar cells and modules at the prestigious K.EY 2024 exhibition held in Italy this month. Drawing the spotlight with its customized solar technology, RedSolar captured the attention and garnered endorsement from a substantial number of target customers. The event provided a platform…
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A collective effort is needed to bring stability to real sectors of the economy, as policymaking relies on clarity and timely availability of data. However, what we see in Pakistan is ghosts of reports past continuing to cloud focus on our present and future- especially in the energy sector. In February, power sector regulator released its annual report, state of…
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