KARACHI: Ambassador of European Union (EU) Raina Kionka has said that rather than staying confined to exporting textiles only, the business community of Karachi should broaden and diversify their exports to EU so as to take maximum advantage of EU’s GSP Plus for Pakistan which has recently been rolled over for four more years up to 2027.“GSP Plus is tremendously…
Read More
In a high-voltage move, Finnish tech powerhouse Wärtsilä has sealed the deal for a 12-year extension on its Operation & Maintenance (O&M) agreement with Sindh Nooriabad Power Company (SNPC), a game-changing independent power producer (IPP) in Pakistan. The pact covers the SNPC 1 and 2 power plants in Sindh, showcasing a leap forward in sustainable energy solutions. Fueled by innovation,…
Read More
KARACHI: The refining sector is struggling to finalize agreements with the government for upgrading their facilities to produce cleaner fuels under a new policy, as a dispute over taxation remains unresolved, sources told The News on Monday. As the deadline for the signing of agreements will expire on January 16, 2024, both sides have to resolve the issue of taxation…
Read More
Saudi Arabia is seeking to attract SR63.7bn worth of investment in mining industry by 2030 to help country capitalize on its wealth of mineral resources ISLAMABAD: Pakistan and Saudi Arabia are expected to make progress on a potential investment deal in the Reko Diq copper and gold project during a three-day mineral forum that began on Tuesday in Riyadh, an…
Read More
ISLAMABAD: An inter-organisation committee has directed National Power Control Centre (NPCC), the system operator, to formulate wheeling mechanism for evacuation of power from category –III wind projects, well informed sources told Business Recorder. The meeting was held in the office of Private Power and Infrastructure Board (PPIB) to discuss options for evacuating power from existing wind projects and Category-III wind projects…
Read More
ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar said on Monday that an uninterrupted power supply to Karachi will be ensured with mutual cooperation of the government and K-Electric. According to the Prime Minister’s Office, Kakar stated this while talking to a delegation of K-Electric led by Monis Abdullah Alvi, chief executive officer of Karachi Electric (KE) which met with the premier…
Read More
ISLAMABAD: The Federal Cabinet is all set to approve establishment of Performance Management Units (PMUs) in five high loss-making power Distribution Companies (Discos) under a serving Brigadier of Pak Army as dismal performance of Discos has made the sector unsustainable, sources close to caretaker Minister for Power and Petroleum told Business Recorder. The Federal Cabinet which is scheduled to meet on…
Read More
Research predicts company shares to hit Rs490 by Dec 2024 Engro Corporation, a conglomerate of companies, is set to expand primarily in shared mobile phone towers and construction material businesses, anticipating a potential reduction in borrowing costs from banks. The conglomerate’s flagship fertiliser manufacturing project is expected to benefit from the Petroleum Policy 2012, enabling it to pass on the…
Read More
Special attention be given to inflation, rupee and rising debt Direction of economy should be corrected: Mian Zahid Hussain Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that some economic sectors will be hit as the world GDP declines. Policymakers should…
Read More
