In a significant development for Pakistan’s energy landscape, the national grid witnessed a sharp decline in electricity demand in August 2024, plummeting by 17.4% compared to the same period last year. This reduction translates to a consumption level of 13,179 gigawatt-hours (GWh) and reflects a broader trend influenced by various economic and environmental factors. Factors […]
In a groundbreaking achievement for the Pakistani pharmaceutical sector, Citi Pharma Ltd has become the first exporter of nutraceutical products and multivitamins to the United States, following formal approval from the U.S. Food and Drug Administration (FDA). This milestone not only underscores the company’s commitment to quality and innovation but also positions Pakistan’s pharmaceutical industry […]
In a pioneering move for the nation, the Pakistan Bureau of Statistics (PBS) has unveiled plans for the inaugural Data Fest-2024, a three-day event set to take place at the Pak-China Friendship Centre in Islamabad from October 18 to 20, 2024. This groundbreaking festival aims to promote statistical literacy and highlight the vital role data […]
In a significant development in global climate financing, the World Bank announced on Thursday that it delivered a record $42.6 billion in climate change financing for the last financial year, reflecting a 10% increase from the previous year. This achievement underscores the bank’s ongoing commitment to addressing climate challenges and facilitating sustainable development under the […]
In a recent address in Islamabad, the Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal, expressed an optimistic vision for Balochistan, predicting that it could become the most prosperous province in Pakistan within the next 15 to 20 years. This ambitious outlook is rooted in the province’s vast potential and ongoing development initiatives, […]
In a significant display of diplomatic ties, Pakistan reaffirmed its commitment to working alongside China for mutual prosperity and the promotion of global peace and stability. This commitment was notably articulated by Prime Minister Shehbaz Sharif during a National Day Reception hosted by the Chinese Embassy in Islamabad, celebrating the 75th anniversary of the founding […]
Oil prices experienced minimal fluctuations on Thursday, reflecting a complex interplay of economic signals and geopolitical developments. Brent crude futures for November climbed slightly, gaining 8 cents to reach $73.73 a barrel. Conversely, West Texas Intermediate (WTI) crude for October fell by 3 cents, settling at $70.88 a barrel. This stability comes as market participants […]
Pakistan has taken a monumental leap forward with the operationalization of the PAKSAT-MM1 satellite. Unveiled during the ‘PAKSAT-MM1 Satellite Application Conference,’ this landmark development marks a significant shift in the country’s digital infrastructure and space capabilities. Minister of State for Information Technology and Telecommunication, Shaza Fatima Khawaja, underscored the satellite’s critical role in revolutionizing Pakistan’s […]
Pakistan’s economy received a significant boost in the first two months of FY25 as total foreign investment surged by 80%, reaching $453.2 million compared to $252 million during the same period in FY24. This increase highlights a growing confidence among foreign investors, despite the challenging global economic climate and Pakistan’s ongoing financial difficulties. Foreign Direct […]
In a rare break for the masses, Pakistan has witnessed a significant reduction in retail petroleum prices, marking the fourth consecutive fortnight of falling rates. Motor gasoline prices have plummeted to their lowest in 21 months, providing much-needed relief from the inflationary storm that has gripped the country for the past two and a half […]
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