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Express Tribune
a day ago
- Business
- Express Tribune
Power generation stabilises after falling for two years
Nepra said earlier this year that state-owned power generation companies fared poorly in the wake of lack of maintenance, deterioration of equipment, insufficient technical expertise, poor management and underutilisation of installed capacity. PHOTO: FILE Pakistan's power generation reached 127,159 gigawatt-hours (GWh) in financial year 2024-25, remaining almost unchanged as compared with previous year's production of 127,059 GWh, according to a report released on Monday. The stability in power generation came following a decline over the past two years. Year FY25 could be divided into two parts – in the first nine months (July-March), power generation fell 2% to 90,147 GWh while in the fourth quarter (April-June), the generation increased 7% to 37,012 GWh. The recovery in the latter part of the year helped offset the earlier decline, said Topline Research in its report. The uptick in 4QFY25 was led by the diversion of captive power plants to the national grid after the government imposed an off-grid levy on captive power users, effective from February 2025. Furthermore, the government also announced a reduction in the overall unit cost in the April-June quarter after using savings that stemmed from tariff negotiations with the independent power producers (IPPs) and the reallocation of petroleum development levy (PDL). In the first three quarters, the report mentioned, the electricity generation declined as bulk buyers largely relied on their own captive power production by using furnace oil, gas and other fuel sources. Hydel electricity contributed the most to total production, having a 31.44% share in FY25 compared to 31.38% in FY24. It was followed by re-gasified liquefied natural gas (RLNG)-based power production, which accounted for 17.48% of total production against 18.70% a year earlier. Local coal-fired plants contributed 12.23% in FY25 vs 12.51% in FY24 while imported coal-run plants had a 7.13% share compared to 3.40% in FY24. Nuclear, gas, wind and furnace oil-based generation contributed 17.66%, 8.82%, 3.02% and 0.41%, respectively. Three new hydroelectric power additions to the system include SK Hydropower Station, initially commissioned at 221?megawatts, with total planned capacity of 884?MW; Pehur Hydel Power Plant, having capacity of 18?MW; and Marala Hydropower Plant, with a capacity of 7.64?MW. Additionally, the Lakhra Power Plant (Genco-IV), a 150MW coal-fired facility, has also been added. In FY25, the average generation cost edged down 2% to Rs8.6 per kilowatt-hour (kWh) compared to Rs8.8 per kWh in FY24. In June alone, the fuel cost dipped 9% year-on-year (YoY) but was up 1% month-on-month to Rs7.9 per unit. "It is interesting to note that around 46% of power generation came from RLNG, coal and gas with average fuel cost of Rs16.5 per unit in FY25," Topline commented. Separately, the cost of imported coal-based generation declined 28% YoY to Rs16.7 per kWh due to a 5% drop in international coal prices. Similarly, the RLNG cost decreased 1% on the back of a decline in international crude oil prices by 12% to $70 per barrel in FY25. "We expect 5-8% growth in electricity consumption in FY26 due to gradual and continuous transition of captives to the national grid and imposition of PDL on furnace oil. Furthermore, gradual economic recovery amidst easing interest rates will also help increase power generation," the report added.
The Star
27-06-2025
- Business
- The Star
Singapore's job vacancies up in Q1, but manpower demand slows in manufacturing sector
Most sectors recorded more openings, but in manufacturing, the vacancies slipped from 8,200 in December 2024 to 8,000 in March 2025. - ST FILE SINGAPORE: The number of job vacancies picked up in the first three months of 2025, although there were signs of slowing manpower demand in the manufacturing sector. In March, the number of vacancies stood at 81,100, up from 77,500 in Dec 2024, according to Ministry of Manpower's (MOM) finalised data in its Labour Market Report for the first quarter of 2025. Most sectors recorded more openings, but in manufacturing, the vacancies slipped from 8,200 in December 2024 to 8,000 in March 2025. These numbers, however, have yet to reflect the impact of US President Donald Trump's 'Liberation Day' tariff announcement on April 2. At a media briefing on June 27, a MOM spokesperson said the ministry ran a poll with over 8,000 firms across all sectors in April and May to capture more recent sentiments following the reduction and partial suspension of certain tariffs. From January to March, 40.5 per cent of the firms surveyed planned to hire for the next quarter. By April and May, the number was up slightly to 42.2 per cent. This modest increase showed that companies continue to take a measured, slow-to-hire and slow-to-fire approach in their manpower planning, the MOM spokesperson said. MOM also noted that this increase was not broad-based, but largely driven by just a few sectors like professional services and financial services. The proportion of companies intending to raise salaries remained stable, with 21.2 per cent of them planning to do so in the third quarter of 2025. According to the Labour Market Report, retrenchments had dropped slightly from 3,680 in the fourth quarter of 2024 to 3,590 in the first quarter of 2025. The decline was mainly seen in the wholesale trade and community, social and personal services sectors. But the number of retrenchments rose in manufacturing, construction, and transportation and storage in the first quarter. The manufacturing sector also saw more employees placed on short work week. In particular, for those working in the manufacturing of electronic, computer and optical products, the number went up from 50 in the last quarter of 2024 to 180 in the first quarter this year. DBS Bank senior economist Chua Han Teng had told The Straits Times that the second half of 2025 could see a slowdown in manufacturing growth, as significant uncertainty still persists regarding the ongoing US tariff negotiations 'The front-loading of exports orders in first half of 2025 will eventually be followed by a payback through decelerating trade and industrial production that would materialise in the second half,' he noted. Overall, MOM said the labour market remained tight, with 1.64 job vacancies for every unemployed person. Job openings likely to be filled by residents increased by 10.4 per cent in March 2025, up from 53,800 in December 2024. These openings accounted for seven in 10 vacancies. Resident employment for Singaporeans and permanent residents grew by 300 in the first quarter of 2025, although at a considerably slower pace than the fourth quarter of 2024. Non-resident employment among S Pass and Employment Pass holders grew by 2,000, driven by work permit holders who were mainly working as bus and truck drivers, jobs less likely to be taken up by residents. On the whole, the employment growth had slowed significantly in the first quarter of 2025 compared with the fourth quarter of 2024 – when the number of residents and foreign workers grew by 1,400 and 6,300 respectively. - The Straits Times/ANN
Express Tribune
02-06-2025
- Business
- Express Tribune
Inflation rate jumps tofive-month high of 3.5%
Market analysts caution that IMF-related measures in the upcoming FY2026 budget—particularly new taxes and adjustments in energy prices—may lead to a renewed spike in inflation. PHOTO: FILE Pakistan's annual inflation rate accelerated to 3.5% in Maythe highest level in five monthsdue to a sudden spike in food prices ahead of the budget, breaking the downward spiral that had persisted for a year and a half. The Pakistan Bureau of Statistics (PBS) reported on Monday that the prices of a basket of essential goods and services rose at an average rate of 3.5% last month. This is the highest reading seen in the past five months and was contrary to official expectations. Nonetheless, it remains far below the fiscal year's inflation target of 12%. In its monthly economic outlook report, the Ministry of Finance had projected inflation to remain between 1.5% and 2% in May. The actual rate was more than double that forecast and fell within the ministry's expectations for June, ahead of the federal budget. For June, the ministry has projected that inflation could rise to between 3% and 4%. With the fresh inflation figure, the gap between headline inflation and the State Bank of Pakistan's (SBP) key policy rate has widened to 7.5%. The banking sector continues to benefit from elevated interest rates, at the expense of the rest of the country. Last month, the Monetary Policy Committee cut the policy rate by 100 basis points to 11%, citing a sustained decline in inflation. Despite the high rates, the money supply grew by 4.7% in May. For the upcoming fiscal year, the government has set a 7.5% inflation target, allowing further room for interest rate cuts. Average inflation during the first 11 months (JulyMay) of the current fiscal year slowed to 4.6%, significantly below the annual target of 12%. This lower average inflation rate will form the basis upon which the increase in pensions and salaries of the government employees will be determined. The government is considering an increase of 6% to 10% in wages and pensions, in line with the reduced average inflation. Core inflationexcluding food and energyeased in both urban and rural areas, dropping to 7.3% in cities and 8.8% in rural areas, according to PBS. Average core inflation remains about 3% below the policy rate, providing further space for the SBP to reduce interest rates. However, under International Monetary Fund (IMF) policy, the government switched the benchmark for borrowing costs from core to headline inflation nearly four years ago. Urban inflation rose to 3.5%, driven by rising food costs. In rural areas, prices turned positive again, with inflation recorded at 3.4% in May. PBS compiles inflation data from 35 cities and tracks 356 consumer items. In rural regions, data is collected from 27 centres and includes 244 items. The PBS data showed that food prices resumed their upward trend. Urban food inflation was recorded at 5.3%, and rural food inflation at 2.1%. Chicken prices soared 52% last month, followed by a one-third increase in pulses, a 30% rise in fresh fruits, 26% in butter, 22% in powdered milk, and 21% in sugar. The government failed to honour its promise of keeping sugar prices under check, following last year's decision to allow exports. The rise in sugar prices is also boosting tax revenues, as the government has linked the 18% sales tax on sugar to the fortnightly inflation rate. Meat prices increased by 12%, while fresh milk rose by 10%. Onion prices remained 54% lower compared to a year ago, while tomato prices dropped 32%, wheat 24%, and tea 18%. Non-perishable food items saw a 5.1% increase in inflation last month. Electricity charges were 29% lower year-on-year, while petrol remained 8% cheaper despite increased taxation. Although global crude oil prices have remained largely stable, the depreciation of the rupee led the government to pass on a Rs3.5 per litre impact on petrol and Rs1 per litre on diesel. Global crude prices are not expected to rise significantly, and overall commodity prices are projected to decline by 15% this year.
Express Tribune
28-05-2025
- Sport
- Express Tribune
Australia face selection dilemma
Australia are eyeing to defend their title against South Africa next month. Photo: AFP/FILE Australia head coach Andrew McDonald on Tuesday admitted that the final playing XI has not yet been decided and he is facing challenges in selecting the team for the ICC World Test Championship final against South Africa, scheduled to begin on June 11 at Lord's. As the defending champions eye back-to-back titles, the team management faces several key decisions, particularly regarding the top order and all-rounder roles. While experienced opener Usman Khawaja is confirmed to take his place at the top, the identity of his partner remains uncertain. Sam Konstas and Marnus Labuschagne have emerged as potential candidates to open the innings, but McDonald hinted that in-form all-rounder Cameron Green could also be a surprise option for the role. Green has been in stellar form in England's County Championship Division 2, notching up three centuries for Gloucestershire over the past six weeks. Although he is unavailable to bowl as he continues recovering from back surgery, McDonald is confident in the 25-year-old's adaptability with the bat. "I think he can bat anywhere. He could be three, five, six, or even open. He's got the temperament and the skill set, especially the defensive game required higher up the order. He plays the short ball well and covers all bases." McDonald said. The uncertainty extends beyond the top order. Australia are also debating whether to include an all-rounder in the final XI. With Green ruled out of bowling duties, Beau Webster, who impressed during his Test outings against India and Sri Lanka earlier this year, is in contention. The 31-year-old could feature if conditions at Lord's warrant an all-rounder's inclusion. "There's an XI on a board, but it has dashes with multiple names in different positions. We have tried to assemble a 15-man squad that gives us all the options. Whether or not we go with an all-rounder depends on the pitch and conditions, which will then influence how we shape the batting order," McDonald revealed. The final decision will hinge on how much weight the selectors give to the need for a fifth bowling option. According to McDonald, clarity will be provided to players as the match draws nearer. It is pertinent to mention that the ICC World Test Championship Final is set to take place on June 11, at the iconic Lord's Cricket Ground in London between South Africa and defending champions Australia. South Africa currently leads the WTC 2023-25 standings, having won eight out of 12 Tests. After a 1-1 drawn home series against India and a 2-0 defeat in New Zealand, they rebounded with series victories over the West Indies (1-0), Bangladesh (2-0), Sri Lanka (2-0), and Pakistan (2-0). On the other hand, Australia stands second on the table, with 13 wins and four losses from 19 Tests. Their journey included a 2-0 win against Sri Lanka, a 3-1 triumph over India, a 2-0 series win against New Zealand, and a 1-1 draw with the West Indies. They also whitewashed Pakistan 3-0, while the Ashes series against England ended in a 2-2 draw. Squads Australia: Pat Cummins (captain), Scott Boland, Alex Carey, Cameron Green, Josh Hazlewood, Travis Head, Josh Inglis, Usman Khawaja, Sam Konstas, Matthew Kuhnemann, Marnus Labuschagne, Nathan Lyon, Steve Smith, Mitchell Starc, Beau Webster. South Africa: Temba Bavuma (captain), Tony de Zorzi, Aiden Markram, Wiaan Mulder, Marco Jansen, Kagiso Rabada, Keshav Maharaj, Lungi Ngidi, Corbin Bosch, Kyle Verreynne, David Bedingham, Tristan Stubbs, Ryan Rickelton, Senuran Muthusamy, Dane Paterson.
Egypt Today
12-03-2025
- Politics
- Egypt Today
Hamas says new round of ceasefire talks started as Israel halts aid delivery, power supply to Gaza
A girl holding her toy walks across demolished buildings in Gaza – FILE/WAFA CAIRO – 12 March 2025: Hamas has announced the commencement of a new round of ceasefire negotiations, emphasizing its commitment to handling the discussions 'responsibly and positively.' Senior Hamas official Abdul Rahman Shadid said in press remarks that these ongoing discussions include negotiations with the US envoy for captives, Adam Boehler. Hamas's remarks come while Israel has continued its blockade of food and humanitarian aid bound for Gaza since the first phase of the ceasefire agreement with Hamas expired on 1 March. Israeli Energy Minister Eli Cohen also announced on Sunday immediately cutting power supply for Gaza, asserting that Tel Aviv will 'operate all of the tools that are at our disposal, to ensure the return of all the hostages.' Hamas is pushing for transition to the second phase of the agreement, which includes the release of all captives in exchange for an end to the Israeli war, which has killed more than 48,000 people since October 2023. Hamas still holds a total of 59 captives in Gaza, including 24 who are believed to be still alive. This initial phase saw Hamas release 38 captives, including eight deceased, in exchange for nearly 2,000 Palestinian prisoners. Instead of moving to the second phase of the deal, Israel aims to extend the expired first phase to allow for the release of more captives without the obligation to end the war. Boehler held recent direct talks with Hamas, representing a significant departure from the US longstanding policy of avoiding direct engagement with the movement. In TV remarks, the US envoy regarded his talks with the Hamas officials as 'very helpful,' stating that a deal can be reached 'within weeks.' Five American captives are still held by Hamas in Gaza, four of them have been confirmed dead by Israeli authorities, while Edan Alexander is believed to be still alive. Shadid expressed hope that this round will lead to tangible progress toward initiating the second phase of the ceasefire talks. This would pave the way for an end to hostilities, the withdrawal of forces from the Gaza Strip, and the completion of a captive-prisoner exchange deal.
