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
Dr. Tauqeer Shah, who is currently Alternate Executive Director of the World Bank Group, is likely to be appointed as an advisor or special assistant in the federal government, according to reports. The official notification is expected to be made in the coming days. Dr. Shah, a close aide of Prime Minister Shehbaz Sharif, has … Read more
The Ministry of Energy (Petroleum Division) has made important appointments to the boards of two major energy companies, Mary Petroleum Corporation Limited (MPCL) and Sui Southern Gas Corporation Limited (SSGCL), according to separate notifications sent to the Pakistan Stock Exchange (PSX) on Monday. Mr. Mohamed Ramadan, Joint Secretary (A/CA), Petroleum Division, has been appointed Director … Read more
Federal health authorities are moving ahead with plans to establish the Pakistan Food and Drug Authority (FDA), a central regulatory body aimed at standardizing food, pesticides and cosmetics. According to a news report, the initiative will replace the Drug Regulatory Authority of Pakistan (DRAP) and aims to align Pakistan with global health and safety standards. … Read more
The government is evaluating two proposals for the future of the Pakistan Central Cotton Commission (PCCC), a major cotton research institution, which faces severe financial challenges. Options include transferring the PCCC to the All Pakistan Textile Mills Association (Aptma) or the National Agricultural Research Center (NARC). According to a news report, the Economic Coordination Committee … Read more
The federal government’s reliance on loans continued in 2024, with its total debt increasing by 3,919 billion rupees during the year, according to a document issued by the State Bank of Pakistan (SBP). This increase is due to the significant increase in domestic debt, while external debt has witnessed a decline. Data from the State … Read more
Federal Minister for Law and Justice Azam Nazir Tarar informed the National Assembly on Thursday that the government is optimistic about receiving better bids in its second attempt to privatize Pakistan International Airlines (PIA) after a previous failed attempt. During the Question Hour, the Minister emphasized that restoring PIA’s routes to Europe could positively impact … Read more
The Government has completed negotiations with 14 furnace oil-based independent power producers (IPPs) under a “take-and-pay” agreement, with discussions continuing with other IPPs. According to a news report, Prime Minister Shehbaz Sharif announced the gradual closure of old power plants to reduce electricity costs and promote energy efficiency. This step comes within the framework of … Read more
The Sindh government is developing two special economic zones in Karachi to facilitate Chinese investors setting up various industries in collaboration with local businessmen. This was stated by Syed Nasir Hussain Shah, Minister of Energy, Regional Planning and Development, on Saturday. Speaking as the chief guest on Saturday at the 10th International Beauty, Fitness and … Read more
ISLAMABAD: The Central Directorate of National Savings (CDNS) has reduced profit rates on short-term savings certificates (STSCs), effective December 2024, due to lower inflation in the country. Introduced in 2012, it caters to the short-term financing needs of investors and offers three-month, six-month and one-year maturity options. These certificates are available to Pakistani nationals and … Read more