KE’s BQPS-III unit in outage; no additional load shed expected
The first unit of K-Electric’s Bin Qasim Power Station 3 (BQPS-III) is currently offline following a fault identified during a test being conducted as part of plant’s commissioning. Per a statement by K-Electric, “The development arose during testing being performed by Siemens AG as part of the final stages of commissioning. Representatives from the Siemens…
Adil Aziz
China’s SEDA, and STZA join hands to cooperate in technology sector
Shenyang Economic and Technological Development Area (SEDA) of China and the Special Technology Zones Authority (STZA) of Pakistan have signed a Letter of Intent (LOI) to boost technology sector cooperation between the two organizations. Established in 1988, SEDA is a production hub of major biotech & automobile organizations including BMW Group, Neusoft, Pfizer, NCR and…
President directs UBL to reimburse Rs 5.49 million to a defrauded customer
President Dr Arif Alvi while upholding a decision of the Banking Mohtasib, has directed the United Bank Ltd (UBL) to refund the swindled amount of Rs 5.49 million to a complainant and declared that maladministration on part of the bank had been established. The president rejected UBL’s representation against Mohtasib’s decision and held that bank had displayed…
Mobilink Microfinance bank relocates Multan branch to promote access to financial solutions to a larger customer base
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL), has expanded its banking operations by relocating its Multan branch to Muslim Gujjar Khadda Road Markaz, to serve its growing customer base and promote access to convenient and customized digital banking and financial solutions to residents and the local business community at one of the busiest…
Emergency measures to stabilize Pakistan’s economy
Pakistan is currently on the brink of economic collapse. With depleting foreign currency reserves, rising inflation, the exchange rate in free-fall and irrationally high interest rates, the country is headed towards a path similar to the economic downfall of Sri Lanka. We at APTMA are pushing for all leaders and policymakers to develop a consensus…
S&P downgrades outlook on Pakistan’s long term ratings to negative
After Moody’s and Fitch, the S&P Global Ratings on Thursday revised the outlook on Pakistan’s long-term ratings to negative from stable. The S&P affirmed its ‘B-’ long-term and ‘B’ short-term sovereign credit ratings on Pakistan, as well as ‘B-’ long-term issue rating on the country’s senior unsecured notes and Sukuk Trust Certificates. “Pakistan’s external position…
ECC lifts ban on imports
The ECC approved the lifting on the ban on the import of 33 non-essential categories, except imported vehicles, mobile phones and home appliances. The Economic Coordination Committee of the Cabinet on Thursday approved the lifting on the ban on the import of 33 non-essential categories, except imported vehicles, mobile phones and home appliances. The ban…
SECP proposes to reduce statutory Forms from 75 to 27 under Companies Act
In order to facilitate the corporate sector in complying with the applicable regulatory requirements, the Securities and Exchange Commission of Pakistan (SECP) has issued draft Companies Regulations, 2022. It is a consolidated version of nine separate regulations, earlier framed under section 512 of the Companies Act, 2017. The consolidated regulations aim to standardize forms/applications filed…
Government promoting foreign investment to strengthen national economy: PM
Prime Minister Shehbaz Sharif on Friday said promotion of foreign investment in the country was one of the top priorities of the government. Talking to a delegation of the Pakistan America Business Forum, he said the government was committed to ensuring favourable conditions for foreign investors with the aim to strengthen the national economy. The…
Attracting US investment a top priority: Miftah
Federal Minister for Finance and Revenue, Miftah Ismail said here on Friday that attracting the United States foreign investment in different sectors of country’s economy was the government’s top priority. The minister was talking to Ambassador of the United Stated of America to Pakistan, Donald Blome who called on him here, according to press statement…