The European Commission (EC) has recently directed Apple Inc. to eliminate geo-blocking practices within its digital services, including the App Store, Apple Arcade, Apple Music, iTunes Store, Books, and Podcasts for consumers within the European Union (EU). This landmark directive addresses a central issue of digital rights: equal access to content across borders within the […]
The Federal Board of Revenue (FBR) recently decided to set a minimum retail price (MRP) of Rs1,200 per kilogram for tea to levy sales tax. While aimed at standardizing tax collection, this decision is raising concerns across the tea industry in Pakistan. Tea, a staple in Pakistani households and businesses alike, now faces price increases, […]
In a significant stride for Pakistan’s energy sector, Oil and Gas Development Company Limited (OGDCL), the nation’s largest exploration and production (E&P) company, has announced the commencement of natural gas production from its Uch-35 development well, located in the Dera Bugti district of Balochistan. As Pakistan navigates growing energy demands and economic pressures, this development […]
In a significant step towards a sustainable future, the Pakistani government is set to introduce an ambitious New Energy Vehicle (NEV) Policy for 2025-2030, aiming to overhaul the automotive sector and facilitate the adoption of electric vehicles (EVs) across the country. This groundbreaking policy not only focuses on creating a supportive ecosystem for NEV manufacturing […]
Avanceon, a renowned leader in automation and systems integration, has recently made significant strides in the infrastructure sector, securing multimillion-dollar contracts in both Pakistan and Qatar. These wins highlight the company’s expanding role in advancing key infrastructure initiatives in South Asia and the Middle East, underscoring its expertise in delivering high-tech, sustainable solutions. With a […]
The landscape for startups in Pakistan has evolved over the past 15 years, yet the journey has been far from smooth. Despite a burgeoning tech-driven population, growing mobile penetration, and an increasingly digital economy, Pakistani startups have collectively raised a relatively modest $750 million in funding during this period. This amount, when compared to the […]
Pakistan’s automotive sector has seen a significant boost in sales during the first four months of the current fiscal year, with a notable 46.7% increase in passenger car sales, reaching 30,625 units. This surge is attributed to the country’s improving economic conditions, particularly driven by the gradual reduction in interest rates, which has positively impacted […]
In a recent development, Pakistan’s debt-to-GDP ratio has decreased to 65.7% as of September 2024, marking an encouraging shift after a prolonged period of escalating debt. The latest data from the State Bank of Pakistan (SBP) reflects strategic efforts to manage the national debt burden, even as domestic and external financial pressures remain high. Debt […]
The Pakistan Credit Rating Agency (PACRA) recently reaffirmed the credit rating of The Hub Power Company Limited (HUBCO), a key player in Pakistan’s energy sector. The company retains its “AA+” long-term rating and “A1+” short-term rating, ensuring confidence in its financial stability and operational credibility. This affirmation follows HUBCO’s recent execution of a Negotiated Settlement […]
Introduction: Islamabad, a city known for its greenery, sprawling neighborhoods, and architectural uniformity, may soon witness a shift towards vertical development. The Special Investment Facilitation Council (SIFC), alongside the Capital Development Authority (CDA), is exploring a proposal to replace old, single-storey government houses with high-rise structures. This initiative aims to address the inefficiencies of underutilized […]
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