Power sector gets Rs52b equity; blames delays for Rs242m renegotiated EVTL contract The meeting also approved a TSG of Rs1.289 billion for Independence Day and Marka-e-Haq Celebrations 2025, and Rs2 billion for the Marka-e-Haq Monument Project in Islamabad. PHOTO: AFP ISLAMABAD: The Economic Coordination Committee (ECC) has approved a Rs52 billion Technical Supplementary Grant (TSG)…
$215m annual saving from dollar-to-yuan conversion draws attention of five other nations NAIROBI: Kenya’s move to convert Chinese loans from dollars into yuan to cut borrowing costs is drawing interest from at least five other African and Asian nations, an AidData study found, in a sign debt-laden borrowers are exploring alternatives to expensive dollar-linked financing….
Cross-border ETFs on horizon; SECP, NAB ink deal to crack down on illegal deposit schemes ISLAMABAD: The China Financial Futures Exchange has welcomed steps taken by the Securities and Exchange Commission of Pakistan (SECP) to promote investment, expressing strong confidence in the future of Pakistan’s capital markets. In a letter to SECP Chairman Dr Kabir…
ISLAMABAD: Pakistan and the United States have discussed ways to enhance bilateral cooperation in the maritime sector, focusing on investment, trade, port development and the blue economy, according to a statement issued on Wednesday. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry highlighted the strategic importance of Pakistan’s ports and coastal resources during a…
Super tax relief offers lifeline to exporters, while higher fuel levies cloud OMC outlook KARACHI: The Federal Budget FY27 is expected to deliver a mixed but sector-specific impact across Pakistan’s listed and industrial sectors, with fiscal adjustments influencing oil marketing companies, exporters, pharmaceuticals and consumer-facing industries in varying directions. In a detailed post-budget commentary, JS…
$8.27b Saudi market offers major opening as PFC delegation explores joint ventures LAHORE: Saudi investors are showing keen interest in Pakistan’s handmade carved furniture and are actively exploring avenues for joint ventures, investment and technology collaboration with local manufacturers, Pakistan Furniture Council (PFC) Chief Executive Officer Mian Kashif Ashfaq said on Tuesday. Ashfaq, who is…
Jamshoro Unit-01 conversion yields 1.8x cost-benefit ratio, cuts imported fuel reliance ISLAMABAD: Pakistan is poised to save $3.239 billion over the next 26 years – including $2.113 billion in foreign currency savings – by converting the Jamshoro Unit-01 power plant from imported coal to 100% indigenous Thar lignite, according to the Ministry of Energy (Power…
ISLAMABAD: Economists, public health and environmental experts have called upon the government to end the freeze on tobacco taxation, introduce inflation-adjusted annual increases in cigarette taxes, and consider a climate tax on the tobacco industry, warning that continued inaction is imposing high costs on Pakistan’s health system, economy and environment. The recommendations were made during…
Price of gold settled at Rs432,236 per tola in the local market, price of 10-gram gold dropped by Rs9,360 to Rs368,985 KARACHI: Gold prices in Pakistan witnessed a sharp decline on Tuesday, tracking losses in the international market where a stronger US dollar and rising expectations of a Federal Reserve interest rate hike dampened investor…
KARACHI: Pakistan’s provinces, which once complained that the federal government was monopolising power and economic resources, have themselves become barriers to devolution at the district level, particularly when it comes to fiscal and economic authority. Provinces are projected to receive Rs9.2 trillion in federal transfers in FY26-27, yet only Rs1.8 trillion is being transferred onward…