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The International Monetary Fund (IMF) has approved a Re1 per unit reduction in electricity tariffs, providing relief to consumers struggling with rising inflation. The relief will be funded through a gas levy on captive power plants, ensuring financial stability while easing the burden on households. Tariff Relief Plan This electricity tariff reduction applies to all …
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The U.S. dollar lost momentum on Tuesday, retreating from a near three-week high as uncertainty over tariffs weighed on currency markets. After an early rise, the dollar weakened against major currencies, including the Japanese yen and euro, as traders reacted to shifting global economic signals. Tariff Concerns Shake Markets The dollar initially gained strength after …
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China has vowed to fight to the end in its ongoing trade war with the United States, responding to new US tariffs with its own countermeasures. As tensions rise, both nations continue imposing economic restrictions, affecting global markets and supply chains. China Rejects US Tariff Hikes The Chinese Embassy in Washington declared that Beijing is …
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Global stock markets tumbled after the US imposed tariffs on imports from China, Canada, and Mexico. President Donald Trump announced 25% tariffs on Canadian and Mexican goods and 20% on Chinese imports, sparking fears of a trade war. In response, China and Canada retaliated with their own import taxes, while Mexico prepared countermeasures. Markets across …
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Donald Trump’s plan to impose 25% tariffs on European Union (EU) imports could cause serious economic disruption. A report from the Kiel Institute warns that the move may shrink both the EU and US economies, push inflation higher, and destabilize global trade. The think tank describes this as a major shift in US-EU relations, with …
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Oil prices remain under pressure as uncertainty grows over the impact of U.S. President Donald Trump’s proposed tariffs and energy policies on global economic growth and oil demand. Despite recent losses, Brent crude futures edged up 18 cents to $79.18 per barrel, while U.S. West Texas Intermediate (WTI) rose 14 cents to $75.58. Analysts highlight …
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has asked the government to review Rs15.28 per unit taxes on electricity. The regulator has also questioned the uniform consumer tariff policy, which it says incentivizes inefficiencies in the power sector. In its State of the Industry Report 2024, Nepra warned that high electricity costs are crippling …
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Islamabad: The Ministry of Energy has successfully renegotiated a power purchase agreement with Safe Power Company, sources confirmed. The company’s board approved changes to the agreement, introducing a revised tariff structure aligned with the Task Force’s proposed rates. Safe Power Company will now follow the “Take and Pay” tariff, ensuring more reliable payment terms. The …
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