ISLAMABAD: Highlighting the need to boost trade, Caretaker Federal Minister for Commerce and Industry, Gohar Ejaz, expressed Pakistan’s ambition to elevate bilateral trade with Saudi Arabia to $20 billion. Addressing the Pakistan-Saudi Business Forum in Riyadh, Ejaz emphasized the intention to enact legislation to foster bilateral investment, as per a press release from the commerce ministry. Ejaz also held discussions…
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ISLAMABAD: Pakistan is gearing up to request a fresh loan of at least $6 billion from the International Monetary Fund (IMF) to assist the incoming government in repaying billions in debt due this year, Bloomberg News reported on Thursday, citing a Pakistani official. The country intends to pursue negotiations for an Extended Fund Facility with the IMF, with talks expected…
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22nd February 2024 Islamabad: With mobile devices becoming increasingly central to our daily lives, the second-year study of ‘Digital Lives Decoded’ conducted by Telenor Asia determined the key drivers of mobile use: forging healthy social connections, opening new opportunities, a safer online experience, learning and growing with new skills and reducing our impact on the planet.The first Digital Lives Decoded…
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The Private Power Infrastructure Board (PPIB) is set to convene a meeting tomorrow to assess the status of the Azad Pattan Hydropower Project, a 770.7 MW venture located on the River Jhelum, jointly developed by a Chinese company. The project, spearheaded by Azad Pattan Power Pvt Limited (APPL), a subsidiary of China Gezhouba Group, has faced delays, prompting the PPIB…
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The Finance Division has initiated discussions with refiner Cnergyico Pk Limited (CPL) to address an outstanding amount of Rs47.5 billion in unpaid petroleum levy (PL) on petroleum products, as revealed by an official document. According to the document, CPL has been in arrears since 2019, resulting in a significant accumulation over the past four and a half financial years. Despite…
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In a move to address the diminishing local natural gas production, the outgoing caretaker regime has greenlit a policy allowing for the provision of Re-Gasified Liquefied Natural Gas (RLNG) to new domestic consumers and private housing societies. The decision, ratified by the Apex Committee of the Special Investment Facilitation Council (SIFC) in its 9th meeting, aims to tackle the challenge…
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In a comprehensive assessment, the Ministry of Finance has pinpointed eight critical fiscal risks posing potential threats to Pakistan’s economy. These risks span macroeconomic imbalances, escalating debt levels, guarantees, climate degradation, State-Owned Enterprises (SOEs) losses, public-private partnership risks, provincial fiscal indiscipline, and governance challenges. Released in the Fiscal Risk Statement (FRS) for 2023-24, the Ministry underscores the volatility in Pakistan’s…
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Islamabad: In a strategic move aimed at bolstering industrial growth, the caretaker government has overhauled the gas priority order, elevating the process industry to a prominent position alongside domestic consumers. This significant revision entails a reshuffling of sectors, with the fertiliser sector now grouped in the second tier, alongside the power sector, a departure from its previous placement in the…
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Final-year engineering students from 29 universities and institutes participated in the 5th Engineering Capstone Expo competition (Punjab Region) organised by the Pakistan Engineering Council (PEC).The PEC’s Pakistan Development Committee (PDC) conducted the Expo at its regional office in Lahore.Some 170 final-year design projects of the engineering students were shortlisted for display at the Expo. The selected projects have relevance to…
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Bonn, 14 February 2024 (WWEA) – The World Wind Energy Association (WWEA) proudly welcomes ENERCON, a prominent German wind turbine manufacturer, as its newest Corporate Member. This significant partnership signifies a shared commitment to advancing renewable energy, with a focus on wind power as a pivotal component. With ENERCON’s addition, WWEA expands its diverse membership, which spans over 100 countries…
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