OGDCL conducts 221 Line-km 2D seismic surveys in 1st quarter of FY 2022-23
Oil and Gas Development Company Limited (OGDCL), during the first quarter of the current fiscal year, carried out 221 Line-km 2D and 21 Square-KM 3D seismic surveys in its various operational areas to discover hydrocarbon reserves. “The acquired 221 Line km of 2D seismic data and 21 Sq. km of 3D seismic data represents 49%…
Adil Aziz
Monetary Policy Committee decided to raise the policy rate by 100 basis points to 16 percent
At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 100 basis points to 16 percent. This decision reflects the MPC’s view that inflationary pressures have proven to be stronger and more persistent than expected. It is aimed at ensuring that elevated inflation does not become entrenched and that risks…
World’s football manufacturing capital in Pakistan gets a green makeover
The Asian Development Bank (ADB) is helping Pakistan’s provincial government of Punjab to build sustainable and livable mid-level cities by upgrading basic infrastructure and services. This includes Sialkot, a thriving business hub known for manufacturing footballs and high-quality surgical instruments. It said the ADB’s support for urban development is helping boost Sialkot’s competitiveness, create jobs,…
MMBL-led Banking Syndicate raises PKR 2 Billion in TIER-II Capital Term Finance Certificates
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL), and its Agent Bank for the transaction JS Bank Limited (JS Bank), one of Pakistan’s fastest-growing financial institutions, along with syndicate members, signed an agreement with respect to raising of MMBL’s Tier-II Capital of PKR 2,000,000,000 in the form of Privately Placed/DSLR Listed Term Finance Certificates….
Emirates and flydubai celebrate five years of partnership
This month marks five years since Emirates and flydubai activated their extensive partnership and joined forces to offer customers unrivalled travel options to every corner of the globe. They’ve certainly delivered on their promise. The carriers’ joint route network has significantly expanded, enabling more than 11 million customers to connect on over 250,000 flights and…
Chinese investments helping Pakistan diversify its energy mix: President
President Dr Arif Alvi said the Chinese investment and contributions to Pakistan’s energy infrastructure were increasing the country’s ability to diversify its energy mix based on nuclear, hydel, solar and wind energy in a bid to help meet its energy needs. The president stressed focusing on alternate and renewable energy sources such as solar and…
QUBED Nathiagali, a sustainable ecotourism hospitality venture, is turning heads
QUBED Nathiagali is a revolutionary success story of a sustainably crafted, innovative and architecturally transformed resort built from shipping containers. Rather than relying on conventional concrete structures with a high carbon footprint, lengthy & laborious construction trail, and short timelines, QUBED Nathiagali’s prefabricated container structure is eco-friendly and ultra-sustainable. Blending in perfectly with its surroundings,…
Around 88,317 tax cases involving Rs2.611 trillion pending with courts
Around 88,317 cases, involving Rs2611.7 billion, have been pending with different courts of the country as on October 31st, 2022. Among these pending cases, 75,021 cases involving Rs2382 billion are related to Inland Revenue Service whereas 13,296 cases involving Rs229.7 billion are to the Customs department, according to break up figures, as on October 31,…
Senate Body for expediting transactions completion of privatized entities
Senate Standing Committee on Privatization here called upon the Privatization Commission of Pakistan to expedite efforts for completing the transactions of privatized state-owned enterprises to protect and safeguard national interest. The committee, chaired by Senator Shamim Afridi, discussed the status of government entities already privatized but the transactions have not been completed and was briefed…
PITB Incubation Wing and Swyft Logistics Sign MoU to Support Local Start-up Ecosystem
An MoU was signed between Punjab Information Technology Board (PITB) Incubation Wing and Swyft Logistics to mutually support the development of the local startup eco system in Pakistan. The MoU was signed by PITB Joint Director Incubation Wing Hammad Khailque and CEO Swyft Logistics Muhammad Uns in a ceremony held at Arfa Software Technology Park….