New Delhi, April 9 (IANS) Pakistan’s oil marketing companies are facing an acute liquidity crisis as up to Rs107 billion in unpaid price differential claims remain stuck, with industry players accusing the Oil and Gas Regulatory Authority of repeatedly shifting documentation requirements instead of clearing dues, according to an article in the local media.Industry estimates show the first claim of around Rs 27 billion, filed in mid-March, was only partially settled, while subsequent claims worth…
Latest Express Tribune News & Updates
New Delhi, April 1 (IANS) Factors like regional conflict and the temporary closure of the Strait of Hormuz account for only a portion of the increase in fuel prices in Pakistan, according to a new report, which stresses that the majority reflects “structural mismanagement, delayed reforms, and political considerations”.The Pakistan Observer report mentions that officials described the Middle East situation as an exceptional global crisis, while emphasising that precautionary steps had already be…
New Delhi, March 31 (IANS) Poverty in Pakistan has surged to 43.5 per cent, according to the Social Policy and Development Centre (SPDC), indicating a far graver situation than official estimates by the Pakistan Bureau of Statistics (PBS) and the Planning Commission, which place poverty at 28.9 per cent, according to an article in the Karachi-headquartered Express Tribune.In its report, the SPDC, a policy research institute, highlights that urban households have borne the brunt of the increase, …
Islamabad, Feb 6 (IANS) Over 15 people were killed and more than 80 injured after a powerful explosion rocked an imambargah in Islamabad’s Tarlai area during Friday prayers, triggering massive panic in the Pakistani capital local media reported. “The death toll from the explosion in the federal capital has risen to 15, according to a spokesperson for the District Administration. The spokesperson further confirmed that the number of patients brought to various hospitals across the city has now ex…
Islamabad, Jan 23 (IANS) Only one out of more than 160 high rise buildings in Rawalpindi district of Pakistan’s Punjab province meets the criteria of fire safety regulations set by the government, local media has reported. After the fire incident in Karachi’s Gul Plaza mall which has so far claimed 71 lives, Punjab Chief Minister Maryam Nawaz ordered a survey and installation of fire hydrants in high rise buildings. All sensitive areas have been marked, re-analysed and relevant authorities have …
New Delhi, Jan 22 (IANS) Pakistan’s power sector is facing a deep crisis with consumers being made to pay huge electricity bills amidst frequent outages, with reports emanating from the Pakistan media attributing the mess to misgovernance, corruption, underinvestment, and an unpredictable policy.”Pakistan’s electricity sector is structurally broken. Nepra’s latest review of the national transmission system reads like an indictment of prolonged neglect. One of the largest transmission networks …
New Delhi, Jan 15 (IANS) Poor governance and mismanagement due to political interference are leading to huge losses in Pakistan’s state-owned enterprises, after which they are put up for distress sale at throwaway prices, a Pakistani media report said.An article in Pakistan’s Express Tribune points out that instead of reforming governance early, successive governments postpone difficult decisions. State-owned enterprises are routinely retained despite declining performance, political interfe…
New Delhi, Jan 14 (IANS) A lack of sustained growth has left real incomes falling which led to a ‘failing Pakistan’ despite signs of macroeconomic stabilisation and reform, a report said on Wednesday. The Express Tribune said in a report citing Household Integrated Economic Survey (HIES) data that the improved headline indicators alongside deteriorating social outcomes suggest a stark contrast.Real GDP growth averaged just 2.47 per cent across recent years barely in line with population growth…
New Delhi, Jan 5 (IANS) Pakistan’s official figures citing 3.7 per cent economic growth in Q1 FY26 is likely an accounting illusion on paper rather than real increases in production or exports, a report has said.A report from Express Tribune cited the think tank Economic Policy and Business Development’s (EPBD) view that the growth approved by the National Accounts Committee (NAC) reflects “methodological artefacts, deflator manipulation and import-led assembly activity,” instead of real gains i…