Flare

The Pakistani rupee (PKR) showed a positive performance against two major foreign currencies, the Canadian Dollar (CAD) and the Euro (EUR), gaining around Rs. 1 against each during the latest trading session. The improvement in the value of the local currency comes as Pakistan continues to closely watch developments in both local and international financial markets.

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The government is considering a strict new legal framework that could lead to very heavy penalties for businesses operating without the required licences or registrations. Under the proposed law, unlicensed businesses may face fines of up to Rs. 100 million, making it one of the strongest possible measures against companies and business owners working outside the legal system...

Pakistan may be facing another important decision about electricity prices as the International Monetary Fund (IMF) continues to push for changes in the country’s power tariff system. The main purpose behind these changes is to make electricity prices more closely match the actual cost of producing and supplying power.

The IMF believes Pakistan needs to continue making...

The government has decided to change the way a major electricity-related benefit is provided to senior officials in Pakistan’s power sector. Instead of allowing eligible officers to receive free electricity units, the benefit is being converted into a cash amount that will be included in their salary package.

The move is part of a wider effort to reduce unnecessary pre...

Pakistan is preparing for a major upgrade of its railway network to support the transportation needs of the Reko Diq mining project in Balochistan. The federal government plans to spend Rs. 278.6 billion on improving nearly 1,000 kilometres of Pakistan Railways’ Main Line-3, commonly known as ML-3.

The railway project is expected to play an important role in moving min...