The new policy is expected to reduce electricity prices by Rs. 10 per unit.

Published

3 months ago

Farwa

An attempt has been made by the government to lower electricity rates by Rs 10 per unit in an effort to alleviate the burden of capacity payments on electricity users.

There are ongoing talks with independent power producers (IPPs) to adopt a “give electricity, take money” or “take and pay” approach, according to government records.

Capacity payments to idle power plants will no longer exist under this plan, which will only compensate power firms that provide electricity.

According to the government task force’s projections, this strategy might save up to Rs948 billion a year, giving customers a benefit of Rs9.70 per unit.

Rs 1,916Due to capacity charges, consumers currently bear an annual burden of Rs1,916.

Electricity users nationwide will benefit greatly from this capacity cost decrease if the current negotiations with IPPs are successful.

The price of gold in Pakistan has significantly decreased.

Published

16 hours ago

Farwa

On Tuesday, the price of gold in Pakistan experienced a significant decrease, mirroring global market patterns.

The price of 24-karat gold per tola in the local market declined by Rs2,700, reaching a record high of Rs286,400, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of 10 grams of 24-karat gold dropped by Rs2,315, taking it to Rs245,541.

Additionally, the price of gold in Pakistan has declined further.

In the global market, the price of gold decreased by $26 on Tuesday, settling at $2,741 per ounce, with an additional premium of $20.

The price of silver in the local market fell by Rs32 to reach Rs3,363 per tola.

This year, SBP plans to issue new banknotes.

Published

22 hours ago

Farwa

State Bank of Pakistan (SBP) Governor Jameel Ahmad declared Monday that the central bank will begin issuing new currency notes in the second half of 2025.

One denomination at a time, these new notes with enhanced security features will progressively replace the present series.

The SBP wants to get the federal cabinet to approve the new notes in the next two to three months, ideally by June 2025, Ahmad clarified.

Instead than introducing all the denominations at once, the rollout will happen gradually.

Ahmad did not, however, indicate which denomination would be made available first, saying that the choice has not yet been made. The current denominations of Pakistani currency notes are Rs. 10, Rs. 20, Rs. 50, Rs. 100, and Rs. 500 Rs1,000, and Rs5,000.

Business

Dhabeji Special Economic Zone: A Project Between Pakistan and China Will Generate 100,000 Jobs and Draw $3B in Investment

Published

22 hours ago

Farwa

The “Dhabeji Special Economic Zone” would be established within the China-Pakistan Economic Corridor, according to an agreement the government has signed with both Chinese and local businessmen.

The area will have direct access to international commerce routes because to its advantageous location close to Karachi’s ports.

The project is anticipated to generate over 100,000 employment and $3 billion in investment. This collaboration represents a significant advancement in China-Pakistan industrial cooperation.

In the second phase of the China-Pakistan Economic Corridor (CPEC), the Dhabeji Special Economic Zone will be constructed using a public-private partnership model. It is anticipated to be a major gathering place for foreign and domestic investors, especially Chinese companies.

The SEZ seeks to boost exports, encourage industrial growth, and improve Pakistan’s economic independence.