Introduction In a significant development for Pakistan’s economy, the current account deficit (CAD) shrank by an impressive 81% during the first two months of the financial year 2024-25 (FY25). After grappling with a series of deficits, August 2024 marked a notable turning point, posting a $75 million surplus. This was a sharp contrast to the […]
In a significant boost to Pakistan’s struggling economy, the Asian Development Bank (ADB) has pledged to provide $2 billion annually in loans to Pakistan from 2024 to 2027. This commitment, amounting to a total of $8 billion over four years, comes at a crucial time as Pakistan grapples with mounting economic challenges, rising inflation, and […]
In a crucial development for Pakistan’s public sector governance, the Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved the categorization of the Water and Power Development Authority (WAPDA) and the National Highway Authority (NHA) as essential State-Owned Enterprises (SOEs). This decision, reflecting the pivotal role both organizations play in the country’s infrastructure and public services, […]
Saudi oil giant Aramco is set to make a significant move in Pakistan’s energy landscape by opening its first branded retail gas station by the end of 2024. This major development follows Aramco’s acquisition of a 40% stake in Gas & Oil Pakistan Ltd. (GO) in May, marking the company’s first downstream retail investment in […]
In a historic move for Pakistan’s cable manufacturing sector, Fast Cables has become the first and only company in the country to receive the prestigious British Approvals Service for Cables (BASEC) certification. This remarkable achievement not only sets a new standard for the company but also elevates the entire cable industry in Pakistan by showcasing […]
In a significant move aimed at expanding the reach of Apple products in Pakistan, GNEXT Technologies, Apple’s authorized distributor for the country, has appointed Air Link Communications Limited as its premium partner. This strategic collaboration was announced on Thursday via a notice to the Pakistan Stock Exchange (PSX), marking an important development for both companies […]
Amid growing public discontent over soaring electricity prices and mounting pressure from the business community, one of Pakistan’s independent power producers (IPP), Liberty Power, has taken a significant step. The company, through its parent organization, Pak Asia Investment, has announced its intention to submit proposals to the federal government aimed at lowering electricity costs. This […]
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has made a bold move by slashing its key policy rate by 200 basis points (bps), bringing the interest rate down to 17.5%—the largest rate cut since April 2020. This aggressive decision comes as Pakistan’s inflationary pressures ease, supported by a favorable international […]
In a move aimed at ensuring that online operations remain smooth and secure, the Pakistan Telecommunication Authority (PTA) has recently issued a clarification regarding the use of Virtual Private Networks (VPNs) in Pakistan. Contrary to some reports suggesting a blanket ban on VPN services, PTA has affirmed that VPNs are not being blocked. Instead, the […]
Islamabad, Pakistan – In a landmark development for Pakistan’s gems and stones industry, the government has unveiled a series of comprehensive reforms aimed at rejuvenating this vital sector. The Prime Minister’s Steering Committee, under the leadership of Federal Minister Abdul Aleem Khan, has approved significant measures designed to modernize and bolster the industry. This pivotal […]
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