Pakistan is a cricket-crazy nation of 225 million people. When the word “Australia” is mentioned, senior citizens reflect on how they were over-awed by Richie Benaud, Dennis Lillee, and Neil Harvey. Today, the Pakistani youth is über-impressed with such Australian cricket stars as Aaron Finch, David Warner, and Mitchell Starc. However, the relationship between Australia and Pakistan is just restricted…
Read MoreMonth: January 2023
IMF delegation to meet Dar on sidelines of Geneva conference: spokesperson
A delegation of the International Monetary Fund (IMF) will meet Finance Minister Ishaq Dar on the sidelines of the upcoming Geneva conference to “discuss outstanding issues”, the lender’s spokesperson said on Sunday. The International Conference on Climate Resilient Pakistan will be held in Geneva on January 9 (Monday). The event will be co-hosted by the Government of Pakistan and the…
Read MorePakistan Approves First-Ever Safety Standards for Auto Industry
In an unprecedented development, the Cabinet Committee for Disposal of Legislative Cases (CCLC) on Friday approved the safety standards for the auto industry. The safety standards will now be forwarded to the federal cabinet for approval. Once approved, these regulations will become effective for the auto sector. According to details, the CCLC has approved eight safety standards for locally manufactured…
Read MorePakistan Receives 87 Million From EU For Green Economy And Skilled Manpower
The European Union will provide EUR 87 million to Pakistan aiming to support green and inclusive economic growth, access to clean energy and enhance the skilled labour force in Pakistan. The programmes are part of the European Union‘s support for Pakistan in post-flood rehabilitation and reconstruction process. The programmes will improve agricultural value chains, provide access to clean energy and enhance the availability of the skilled labour force, especially in Khyber Pakhtunkhwa, Gilgit Baltistan and Balochistan. Dr. Kazim Niaz, Secretary…
Read MoreSolarization – sincere efforts needed to curtail energy crisis
Amidst economic challenges and fluctuating fuel prices the world over and within the country, exploring alternate energy resources has become imperative for curtailing fuel import bill and providing cheaper energy to domestic, commercial and industrial consumers. With most of world nations already using solar, wind and hydel power as major chunk of their energy base, time is also ripe for…
Read MoreOil & gas sector: Plan to deal with Rs1,500bn circular debt soon
The Petroleum Division’s top mandarins have carved out a multi-pronged strategy to resolve the circular debt in the oil and gas sector that has surged to Rs1,500 billion, mainly through improving the balance sheets of Public Sector Entities (PSEs) involved in the petroleum sector, a senior official of the Energy Ministry told The News. Through netting off dividends of the…
Read MorePakistan exceeds target, raises more than $9bn for flood recovery
Pakistan on Monday raised more than $9 billion at an international conference seeking support for its recovery from last year’s devastating floods — a billion more than requested. The pledges came as the International Conference on Climate Resilient Pakistan kicked off in Geneva. Prime Minister Shehbaz Sharif co-hosted the conference along with United Nations Secretary General Antonio Guterres. The purpose of the…
Read MoreKE incurred less line losses: Nepra chief says performance of all Discos dismal
Chairman National Electric Power Regulatory Authority (Nepra) Tauseef Hassan Farooqi, while expressing sheer disappointment over the performance of Discos across Pakistan including K-Electric (KE), stated that KE, being a private entity was better as compared to other Discos as KE has drastically brought down Transmission & Distribution (T&D) losses from more than 40 percent to 15.5 percent but the biggest…
Read MoreEAG slams NSC statement for failing to address economic problems faced by country
The independent Economic Advisory Group (EAG) is concerned that the recent National Security Council (NSC) statement has failed to address the challenges Pakistan is currently facing. The lack of emphasis on the need to address the increasing external debt servicing burden, and endorsing antiquated policies such as import substitution as a way forward, does not restore confidence. Winston Churchill is…
Read MorePace of domestic debt accumulation accelerates
The pace of domestic debt accumulation further accelerated by 6 percent during this fiscal year (FY23) and reached an all-time high level of Rs 33 trillion mark end of November 2022. According to the State Bank of Pakistan (SBP), the government’s domestic debt rose by 6 percent during the first five months of this fiscal year. Total domestic debt stocks…
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