Tag: financial challenges
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OGRA approves massive gas tariff hike for SNGPL, SSGC consumers
In a move to address the fiscal challenges faced by Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC), the Oil and Gas Regulatory Authority (OGRA) has granted approval for a noteworthy increase in gas tariffs.`
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PIA set for transformation: Federal cabinet approves privatisation, restructuring
In a significant development, the caretaker federal cabinet has granted approval for the restructuring of Pakistan International Airlines (PIA) and the privatisation of First Women Bank Limited.
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Pakistan sees 18th straight month of decline in auto financing
In December 2023, automobile financing in Pakistan recorded a significant decline, reaching Rs251.25 billion, marking a 25.55 per cent year-on-year drop and a 2.26 per cent month-on-month decrease.
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IMF recommends gas price hike, subsidy cuts for Pakistan
The International Monetary Fund (IMF) has reportedly urged Pakistan to address the growing concerns surrounding the power sector’s circular debt, which now stands at 4 per cent of the gross domestic product (GDP).
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PIA receives assurances of govt support during privatisation
Following a dire fuel crisis that significantly impacted Pakistan International Airlines (PIA) flight operations, the interim Prime Minister, Anwaar-ul-Haq Kakar, took decisive action on Monday.
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Private airlines seize opportunity to charge high fares amid PIA flight disruptions
Pakistan International Airlines (PIA), the nation’s flagship carrier, is grappling with operational challenges caused by a shortage of fuel.
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Pakistan faces worsening financial woes as state-owned enterprises suffer losses
Interim Prime Minister (PM) Anwaar-ul-Haq Kakar conveyed on Wednesday that Pakistan is grappling with financial challenges, exacerbated by the continuous losses incurred by state-owned enterprises (SOEs).
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PIA’s Boeing 777 planes encounter more technical issues due to lack of maintenance
Due to a serious lack of maintenance and repair work, numerous Boeing 777 aircraft operated by Pakistan International Airlines (PIA), the country’s national flag carrier, have experienced technical problems during international flights, according to reliable sources.
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Power sector’s circular debt surpasses Rs2 trillion despite massive tariff increase
Even though they increased electricity prices a lot, Pakistan’s power sector ended up owing more money. In June 2023, their debt was Rs2.31 trillion, which is higher than the Rs2.25 trillion it was in the year before (FY22). This increase is about Rs57 billion or around 3%, and it’s the opposite of what happened in…
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Nepra approves Rs1.46 per unit fuel charge adjustment
The FCA, however, excludes electric vehicle charging stations (EVCS) and lifeline consumers. This means that this adjustment will be itemised separately on consumers’ bills based on their electricity usage in July 2023. The billing for this adjustment is scheduled for September 2023.