KARACHI: The Sindh High Court (SHC) on Thursday granted the federal government one more chance to submit its response in a matter involving the suspension of gas supplies to non-export sectors. The matter of the Sui Southern Gas Company suspending gas supply to non-export producing enterprises in Sindh was heard by the SHC bench (SSGC). […]
Finance
After five years, PIA resumes direct flights to Iran
KARACHI: Pakistan International Airlines (PIA) resumed direct flights to Iran on Thursday after a five-year hiatus in order to strengthen people-to-people ties and boost the tourism industry. According to reports, PIA has resumed flight operations to Iran after a five-year hiatus, with the first PIA flight PK-119 departing for Mashhad, Iran, with 165 passengers on […]
NEPRA likely to increase electricity tariff by Rs4.33 per unit
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has concluded its hearing on the Central Power Purchasing Agency’s (CPPA) request for a Rs4.33 per unit increase in energy pricing. The price of per unit electricity would be increased by Rs4.33 per unit if the features provided by the CPPA were correct, while the power tariff […]
A $195m loan for Pakistan approved by the World Bank
ISLAMABAD: The World Bank’s Board of Executive Directors has approved $195 million in funding to help Pakistan improve its energy distribution and improve consumer service quality. Pakistan and the World Bank signed a financing deal in Islamabad, according to the economic affairs division. Secretary economic affairs division Mian Asad Hayauddin and WB’s Operation Manager Anjum […]
All you need to know about the New Auto Policy 2021-26
ISLAMABAD: The federal government has developed the Auto Industry Development and Export Policy (AIDEP) 2021-2026 with the goal of improving car quality, adding safety features, and making small cars more affordable to Pakistani buyers. The government has proposed a tax exemption for locally produced cars with engines up to 800cc, according to a document issued […]
Cars’ sale surges 61pc in five months
The sale of cars during five months of the current fiscal year 2021-22 (Jul-Nov) has surged by 61.89 percent as compared to the same period of last year, a recent data released by the Pakistan Automobile Manufacturing Association (PAMA) said. According to the data, as many as 90,303 cars were sold during the period under […]
Pakistan and ADB sign financing agreements for $1.54b
ISLAMABAD: Pakistan inked six agreements with the Asian Development Bank (ADB) on Wednesday to secure $1.54 billion in financing. The agreements were signed in the presence of Minister for Economic Affairs Omar Ayub Khan by the secretary of the Economic Affairs Division and the country director of the ADB. Under the agreements, $300 million would […]
Pakistan and ADB sign financing agreements for $1.54b
ISLAMABAD: Pakistan inked six agreements with the Asian Development Bank (ADB) on Wednesday to secure $1.54 billion in financing. The agreements were signed in the presence of Minister for Economic Affairs Omar Ayub Khan by the secretary of the Economic Affairs Division and the country director of the ADB. Under the agreements, $300 million […]
Fawad Chaudhary: Pakistan paid $12.27 billion in foreign debt in FY2021-22
ISLAMABAD: Fawad Chaudhry, the Minister of Information and Broadcasting, stated on Tuesday that the existing administration has paid off $12.27 billion in foreign debt this year alone. Fawad added that Pakistan had paid $12.27 billion in foreign debt payments alone in the current fiscal year 2021-22, according to his Twitter account. Fawad Chaudhry further said […]
UAE firm will invest $15 million in Faisalabad SEZ: Razak Dawood
ISLAMABAD: Abdul Razak Dawood, Pakistan’s Adviser on Commerce and Investment, announced that a UAE firm will spend $15 million in a special economic zone (SEZ) in Faisalabad. Abdul Razak Dawood said on Twitter that Brothers Gas of the United Arab Emirates (UAE) has announced a $15 million investment in the Faisalabad Special Economic Zone. He […]