‘More mosques than factories’

ISLAMABAD: There are over 600,000 mosques and 23,000 factories in Pakistan, while the services sector employs 45% of the total workforce, debunking the myth that industry is the country’s main job-creating sector, according to the findings of Pakistan’s first-ever economic census. The economic census also revealed that out of a total of 40 million permanent … Read more

Stocks dip 1,356 points amid political noise

[ KARACHI: The Pakistan Stock Exchange (PSX) witnessed a sharp reversal on Thursday as early gains were wiped out by intensive selling, triggered by renewed political uncertainty. The benchmark KSE-100 index, which had climbed to the intra-day high of 151,250 points, tumbled later, hitting the low of 148,273. It closed the day at 149,235, down … Read more

ADB to provide $410m package for Reko Diq mine

[ ISLAMABAD: The Asian Development Bank (ADB) will provide a $410 million financing package to help develop the Reko Diq copper mine, one of the world’s largest untapped deposits, which will be operated by Barrick Gold, two sources said on Thursday. Pakistan hopes the project will serve as a springboard to draw more foreign interest … Read more

Consumers may get Rs1.69/unit cut in July power bills

ISLAMABAD: Electricity consumers are likely to get a relief of Rs1.6911 per unit on account of fuel charges adjustment (FCA) for July 2025, subject to approval by the National Electric Power Regulatory Authority (NEPRA). NEPRA has scheduled a public hearing on August 28, 2025, to review the Central Power Purchasing Agency Guarantee Limited’s (CPPA-G) request … Read more