In recent developments, Pakistan International Airlines (PIA) has come under scrutiny due to its substantial indebtedness to the PIA Employees’ Pension Trust Fund, estimated at approximately Rs40 billion. As the airline prepares for potential privatization, this financial burden raises critical concerns for prospective buyers. Understanding the implications of this debt, the origins of the liability, […]
In a significant development for Pakistan’s logistics industry, Secure Logistics Group Limited (SLGL) has entered into a partnership with Maersk West and Central Asia Limited, a global leader in shipping and logistics. This collaboration, announced via a notice to the Pakistan Stock Exchange (PSX), is poised to elevate SLGL’s standing as a key player in […]
The landscape of higher education in Pakistan is on the brink of significant transformation. The government, under the guidance of international lending agencies, is formulating a comprehensive plan aimed at transforming public sector universities into self-sustainable corporate entities. This initiative is not only intended to enhance the quality of education but also to redirect public […]
In a concerning development for Pakistan’s economic stability, the country has significantly failed to meet a crucial revenue target set by the International Monetary Fund (IMF). The government aimed to collect Rs10 billion from traders under the newly implemented Tajir Dost scheme during the first quarter of the fiscal year, but managed to raise a […]
In a significant move that underscores the evolving landscape of Pakistan’s energy sector, shareholders of Lalpir Power Limited (PSX: LPL) have approved the premature termination of several key contracts, effective October 1, 2024. This decision, rooted in the recommendations of a specialized Task Force, marks a pivotal moment for the company and its stakeholders. Overview […]
DUBAI—The bustling city of Dubai is currently playing host to Gitex Global 2024, the world’s largest tech and startup exhibition, where over 80 Pakistani companies and startups are making their mark. Under the compelling theme of “Global Collaboration to Forge a Future AI Economy,” this event has attracted participants from various sectors, including government officials, […]
The future of Karachi’s industrial sector is looking brighter with the upcoming Malir Industrial Park (MIP), a project that promises not only to transform the economic landscape but also to address the challenges faced by local industries. Under the administration of Brigadier Muhammad Asad, the Pakistan Economic Zone Development and Management Company (PEZDMC) is leading […]
The announcement of the 2024 Nobel Prize in Economic Sciences has resonated throughout academic and financial circles, recognizing the groundbreaking contributions of Daron Acemoglu, Simon Johnson, and James Robinson. Their research has fundamentally transformed our understanding of the complex interplay between institutions and economic prosperity. Understanding the Significance of Their Work The Royal Swedish Academy […]
On Monday, Apple took a significant step into the realm of artificial intelligence by launching its first suite of generative AI features, collectively branded as “Apple Intelligence.” This rollout marks Apple’s strategic entry into the rapidly evolving landscape of AI technology, positioning itself alongside major tech competitors such as Google, Microsoft, and Amazon, all of […]
The Federal Board of Revenue (FBR) in Pakistan has released a draft amendment to the Customs Rules of 2001, specifically designed to simplify the process for tourists wishing to bring their vehicles into Pakistan temporarily. This proposed regulation addresses key aspects of vehicle entry and stay extensions, with the goal of balancing flexibility for tourists […]
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