The Khyber Pakhtunkhwa government has expressed dissatisfaction with the slow progress of the 300 MW Balakot Hydropower Project in Mansehra and the 69 MW Lawi Hydropower Project in Chitral. A notice will be issued to contractors for both projects warning them to speed up construction or face further action. In a special meeting chaired by … Read more
Federal Minister for Industries and Production Rana Tanveer Hussain urged the business community to target exports worth $100 billion over five years, exceeding the government’s target of $60 billion. He stressed the importance of cooperation between the government and the business sector to achieve economic renaissance and sustainable growth. Addressing the Lahore Chamber of Commerce … Read more
The government has decided to cut 1,232 jobs, nearly one in every four sanctioned jobs, at the Pakistan Television Authority (PTV) to reduce its financial losses. The announcement was made during a meeting of the Cabinet Committee on State-Owned Enterprises on Friday, which was chaired by Finance Minister Muhammad Aurangzeb. “The committee was informed that … Read more
The federal cabinet, headed by Prime Minister Shehbaz Sharif, has approved revised agreements with 14 independent power producers, a move that is expected to bring down electricity prices by Rs 10-11 per unit. The renegotiated contracts are set to save 802 billion rupees by reducing profits and costs of independent power projects, while deducting an … Read more
Frontier Holdings Ltd (FHL), a foreign oil and gas exploration company, has written to the Petroleum Department requesting intervention to implement an international court ruling against Petroleum Exploration (Pvt) Ltd (PEL), a local energy company. According to a news report, the letter, sent to the Petroleum Division’s Director General of Petroleum Concessions, highlights FHL’s victory … Read more
The government obtained Rs584.5 billion through the auction of treasury bills (T-bills), Pakistan Investment Bonds (PIBs), and Government Islamic Sukuk (GIS). This included Rs434 billion from treasury bills, Rs11.9 billion from general treasury bonds, and Rs138 billion from GIS auction across all periods. The GIS auction, conducted by the Pakistan Stock Exchange (PSX), attracted strong … Read more
The Pakistan Single Window (PSW) has integrated seven key government organisations, including provincial revenue authorities and the Drug Regulatory Authority of Pakistan (DRAP), to enhance data sharing during import and export clearance processes. According to Order SRO.2076(I)/2024 of the Federal Board of Revenue (FBR), the integration applies retroactively as of July 1, 2024, to reporting … Read more
The Pakistan Business Council (PBC) has highlighted five critical challenges that the government must address to maintain the economic stability achieved in 2024. In a statement shared on social media platform X, the People’s Bank of China spoke about the country’s economic trajectory and stressed the need for reforms and prudent fiscal policies. The Council … Read more
ISLAMABAD: Planning, Development and Special Initiatives Minister Ahsan Iqbal on Wednesday launched the 7th Agricultural Census, focusing on the role of accurate data collection in addressing food security challenges. He stressed the importance of reliable statistics in effective policy making and stressed the use of digital tools to collect data. Speaking at the launch, the … Read more
The federal government has raised petrol and diesel prices for the next two weeks, effective January 1, 2025. According to the Ministry of Finance, the price of petrol rose by Rs 0.56 per litre, to Rs 252.66, while the price of high-speed petrol rose by Rs 0.56 per litre. Diesel saw a rise of Rs … Read more