Karachi unable to adopt E-buses due to poor electric system: ADB on April 3, 2019Amid heightened concerns over Karachi’s severe air pollution, the Asian Development Bank (ADB) says E-buses are not a suitable solution for the city’s Bus Rapid Transit (BRT) systems mainly due to its unstable electric system. As an alternative, using biomethane buses was assessed with Karachi having a very large potential to produce biomethane derived from […]
SBP hikes policy rate for the fifth time in FY19 on March 30, 2019The State Bank of Pakistan (SBP) Friday said the country has witnessed sufficient improvement in economic growth as the current account deficit recorded a sizeable contraction, which, together with bilateral inflows, has helped ease pressures on the foreign exchange reserves. These developments on the external front have improved stability in the financial markets, reduced uncertainty […]
Pakistan needs to revise academic curriculum to reap CPEC benefits: SBP on March 26, 2019In order to maximize returns from the opportunities arising out of the implementation of CPEC projects, Pakistan would have to take serious notice of its human capital deficiency, said State Bank of Pakistan (SBP). The government needs to devise a framework focusing on skill-development of the workforce and adequate provision of associated services in order […]
Dark days are here again: Karachi to face 600MW shortfall in summer on March 14, 2019All much-touted calls to end load-shedding appear to have gone out of light as Karachi braces itself for a power shortfall of around 600 megawatts (MW) during the peak summer period. The reported delay in many of the power utility, K-Electric’s generation projects, largely due to an unprecedented setback in the finalisation of its multi-year […]
Framework for renewal of mobile operators’ licence delayed on March 13, 2019Licences of three mobile operators in Pakistan are up for renewal this year but despite the fact that the renewal seeks to ensure continuity of telecom services, provides predictability to the operators and generates revenue for the government, no framework for renewal has been issued by the Government or Regulator so far. The telecom sector […]
FBR steps up drive against tax evading education institutes on March 5, 2019The Federal Board of Revenue (FBR) has stepped up efforts to recover funds from tax evading schools, colleges and other education centres, it was learnt on Monday. In this connection, the Broadening of Tax Base Zone, RTO-II, Karachi has devised a strategy for broadening of tax base on the directives of the chief commissioner, said […]
Scores of flights cancelled as Pakistan closes airspace on February 28, 2019At least 192 international and domestic flights were cancelled or diverted from Pakistani airports on Wednesday and almost equal numbers of flights were expected to be cancelled on Thursday (today) as Pakistan has closed its airspace due to soaring tensions with India following the Pulwama incident. “Pakistan’s airspace will remain closed from 7:30 AM-27th of […]
‘Emerging Pakistan Initiative’ to be re-launched to attract trade and tourism on February 23, 2019At a time when the government is taking aggressive austerity measures, the Ministry of Commerce is planning to organise one more launch event of ‘Emerging Pakistan Initiative’ which has already been launched in 2017. It seems that the ministry apparently attempting to receive praise from new government by re-launching of the same program which was […]
KPT to privatize bulk cargo handling facilities on February 21, 2019The Karachi Port Trust (KPT), a premier port of Pakistan, has decided to privatize its bulk cargo handling facilities in a bid to match international standards. Also, the authority has planned to establish mechanized environmental friendly multipurpose clean bulk terminal with handling capacity of minimum 8 Million tons per annum (MTPA).Currently, KPT handles over 60 […]
ADB for improving Pak’s immunity against natural disasters on February 19, 2019The Asian Development Bank (ADB) has recommended Pakistan to introduce mandatory disaster insurance for residential areas, further adding, that a flat disaster insurance charge could also be either included in utility bills or added as a surcharge to property tax bills. Recent times have seen Pakistan increasingly exposed to natural hazards the likes of floods, […]