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Discos wants an additional Rs967 billion to reach their revenue targets for the upcoming fiscal year.

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The federal government is considering raising the electricity cost once more for state-owned distribution businesses, or discos.

The customers of energy will be have to pay an additional Rs967 billion if authorized.

Six Discos have reportedly applied to Nepra (the National Power Regulatory Authority) for a rate hike for the upcoming fiscal year. The date of the hearing is April 2.

According to the Discos, the increase is required to achieve the fiscal year 2024–2025 revenue requirements.

Earlier on March 19, Nepra received a proposal from the Central Power Purchasing Agency (CPPA) to raise the price of power by Rs4.99 per unit.

The appeal is scheduled for March 28.

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Aaqib Javed designated as interim head coach for white-ball formats of Pakistan

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On Monday, the Pakistan Cricket Board (PCB) announced the hiring of former fast bowler Aaqib Javed as the interim head coach of the Pakistan men’s cricket team till the ICC Champions Trophy 2025.

Throughout this period, Aaqib will maintain his role as a senior member of the men’s National Selection Committee and will be allocated more responsibilities upon the completion of the eight-team tournament.

The PCB will commence the recruitment process for a permanent white-ball head coach, with the objective of finalising the appointment before the conclusion of the ICC Champions Trophy, which is set to take place from 19 February to 9 March.

The white-ball coaching position became available with Gary Kirsten’s departure last month, prior to the current tour of Australia.

In Kirsten’s absence, red-ball head coach Jason Gillespie led the team during the tour of Australia and will now return for the forthcoming two-Test series in South Africa.

The Pakistan men’s team is set to compete in three ODIs and three T20Is in Zimbabwe from November 24 to December 5, followed by an equal number of white-ball matches in South Africa from December 10 to 22.

Prior to the ICC Champions Trophy 2025, Pakistan will host New Zealand and South Africa for an ODI triangular series from February 8 to 14.

Aaqib Javed had considerable coaching expertise, having formerly held the position of Pakistan’s bowling coach during their triumphant ICC T20 World Cup campaign in 2009. Earlier this year, he served as the bowling coach for the Sri Lanka men’s squad.

Before that, he managed the United Arab Emirates (UAE) in achieving ODI status and qualifying for the ICC World Cup 2015 in Australia during his term as head coach.

Additionally, the right-arm fast bowler served as the coach of Pakistan’s Under-19 squad during their victory in the U19 World Cup in 2004.

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The PTA discloses how many VPNs are registered in Pakistan.

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Speaking at the Senate Standing Committee on IT meeting in Islamabad, which was presided over by Palwasha Khan, was the PTA chief.

The continuous regulation of Virtual Private Networks (VPNs) in Pakistan was the main topic of discussion. The committee called for the next meeting and voiced concerns about the Minister of State for IT’s absence for the third consecutive session.

“We have spent the last two years developing VPN legislation. Uninterrupted internet connection is guaranteed by registered VPNs without sacrificing privacy, according to the PTA chairman.

During the session, Senator Muhammad Humayun criticized the measures, saying, “Shutting down platforms like X (formerly Twitter) is jeopardizing the entire IT industry and impacting the livelihoods of over 2.5 million individuals in Pakistan.”

He opposed laws that would hurt independent contractors and small companies.

Although the PTA promised that registered VPNs would not experience internet outages, committee members wanted to know the exact legal foundation for these regulations. Senator Kamran Murtaza asked for documents that detailed the requirements for registration.

“If VPN services are abruptly halted, there will be a major backlash,” Senator Afnan Ullah said. While pointing out that Pakistan’s IT exports had increased by 20% in the previous year, he emphasised that the sector was still lagging behind India.

Concerns over the viability of the existing VPN whitelist method were voiced by the committee. While IT officials admitted that more than 1 million freelancers in Pakistan rely significantly on VPNs for their business, Senator Humayun pointed out that the laws should be more beneficial than harmful.

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The Pakistan Stock Exchange approaches the 96,000 mark and reaches a record high.

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For the first time ever, the benchmark KSE-100 Index has surpassed 95,000 points, marking a historic milestone for the Pakistan Stock Exchange (PSX).

The KSE-100 Index reached a record high of 95,874 points on Monday, up 878 points. Strong investor optimism, fuelled by upbeat market sentiment and good economic statistics, is reflected in the surge.

Strong company profitability, foreign investment inflows, and optimism about the nation’s economic policies are some of the elements that market analysts attribute to this surge. Restoring the 95,000-point barrier is seen as a major turning event in the history of the PSX.

An important indicator of Pakistan’s economic progress and investor confidence, the PSX’s position is strengthened by this development. A notable increase in trading volumes also suggested that investors were becoming more active in the market.

The new record is anticipated to improve the overall economic picture by drawing in more foreign and domestic investment.

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