PTCL Group Pledges 1.75 billion to Support Flood Affectees
PTCL Group, country’s largest telecom services provider, has come forward to aid communities affected by floods across various provinces of Pakistan through a relief package worth PKR 1.75 billion. The package includes donation to the Prime Minister’s Relief Fund, NGOs, provision of free calls in flood affected areas, housing loans to displaced people and medical…
Adil Aziz
Gas Subsidy to Captive Power Discriminatory and Unjust: Industrial Associations
Eight industrial associations of Karachi collectively denounced the decision to supply Captive Power Plants with subsidized indigenous gas, terming it a violation of the Gas Allocation Policy 2018. They revealed that this was the real reason behind the exorbitant Fuel Charges in electricity bills, as in the face of gas shortages, SSGC was left with…
IMF approves release of $1.1 billion for Pakistan
The Executive Board of the International Monetary Fund (IMF) completed on Monday the combined seventh and eighth reviews of the Extended Arrangement under the Extended Fund Facility (EFF) for Pakistan. The Board’s decision allows for an immediate disbursement of SDR 894 million (about US$1.1 billion), bringing total purchases for budget support under the arrangement to…
Pakistan to host APICTA awards 2022 for first time in over 20 years
The Asia-Pacific ICT Alliance (APICTA) and Pakistan Software Houses Association (P@SHA) announced that Pakistan will be officially hosting the APICTA Awards this year for the first time. Hosted by PA@SHA, the APICTA Executive Committee meeting with delegates from 16 member economies including Malaysia, Australia, Sri Lanka, and Chinese Taipei was held in Serena Hotel, Islamabad….
SBP sets agriculture credit disbursement target of Rs1.8 trillion for FY23
State Bank of Pakistan (SBP) has assigned annual agriculture credit disbursement target of Rs1,800 billion to the financial institutions for FY23 to cater to the agriculture credit demand in the country. Moreover, in line with the national food security requirements and need for mechanization of farms to enhance agriculture productivity, specific targets of Rs140 billion…
Thought Leaders Dialogue – Pakistan: The Next Great Infrastructure Connector
Renowned Economic, Energy, and Business Leadership came together for highlighting and exploring trade and strategic ties with the regional countries for boosting National and Regional Economies, through the development of infrastructure of Roads and Rail links, Energy Corridors, and Digital Connectivity. Speaking at the “Thought Leaders Dialogue – The Next Great Infrastructure Connector,” organized at…
Real Estate sector badly affected by rising interest rates. What’s next for Pakistan?
Owing to the political turmoil of the last few months and the resumption of the IMF program, the current government has increased interest rates to control inflation, making their monetary policing efforts contractionary. With rising interest rates and money flowing to saving accounts schemes, people tend to sell their property and deposit in banks. The…
IMF to release tranche on Monday after board meeting: Miftah Ismail
Minister for Finance and Revenue Miftah Ismail Friday said the International Monetary Fund (IMF) would release the tranche (worth US$1.17 bn) to Pakistan after its board meeting on Monday. Addressing a press conference here, the minister said Pakistan had already fulfilled all the requirements of the IMF and it is very likely that the board…
FrieslandCampina Engro Pakistan Posts Profit of Rs. 938 million in H1 2022
Despite steep increases in commodity costs due to soaring inflation, and the rapid, unprecedented devaluation of the Pakistani Rupee, FrieslandCampina Engro Pakistan Limited (FCEPL) registered a Profit After Tax (PAT) of Rs. 938 million in the first half of 2022 against Rs. 1,414 million for the same period last year. The flagship brand, Olper’s, led…
Thar Coal to generate 2600 MW electricity this year: Khurram Dastgir
Federal Minister of Energy (Power Division) Engineer Khurram Dastgir Khan on Thursday said that Thar Coal Project would generate 2600 MW electricity this year and it would be one of the major energy project of the country. Thar people have the right of employment in the project and in this regard directives were issued to…