Islamabad, March 20: The government has officially approved the “New Gwadar Shipyard Mega Project”, following the instructions of Prime Minister Shehbaz Sharif. This initiative aims to utilize all available resources to establish a robust foundation for the all-inclusive development of Gwadar Port under CPEC Phase II. An allocation of Rs 200 million has been made for the formation of the Project Management Cell (PMC). To ensure the smooth execution of the project, relevant appointments will be made in accordance with prescribed Standard Operating Procedures (SOPs). Gwadar Shipyard Mega Project: Key Objectives and Development Plans The primary goal of the New Gwadar Shipyard…
Author: Ahmad Mukhtar
Islamabad, March 20: Ministry of Water Resources has proposed 33 new projects in the water sector, with a total estimated cost of Rs 424.128 billion, to be included in the Public Sector Development Program (PSDP) for the fiscal year 2025-26. Out of these highest allocation goes to Sindh with 257.78 billion, with Sindh raised huge criticism during last few days on certain canal system being driven from water resources. The ministry has requested an allocation of Rs 42.432 billion for these projects in the upcoming fiscal year. During a briefing to the Senate Standing Committee on Water Resources, chaired by…
Islamabad/Jeddah, March 20: Prime Minister Shahbaz Sharif in a meeting with Saudi Crown Prince Mohammed bin Salman reiterated their vow to strengthening defense and security cooperation, while highlighting the significance of mutual efforts in addressing regional security challenges. Prime Minister Muhammad Shehbaz Sharif of Pakistan held a significant meeting with His Royal Highness Mohammed bin Salman, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, during his visit to the Kingdom. The Prime Minister was accompanied by key members of the Pakistani delegation, including the Deputy Prime Minister, Chief of the Army Staff, and Chief Minister of Punjab.…
ISLAMABD/Jeddah, March 20: Prime Minister Muhammad Shehbaz Sharif recently held an important meeting with Saudi Investment Minister HE Khalid Al-Falih and Mohammad Al-Tuwaijri, the Head of the Joint Task Force for Economic Engagement, during his official visit to Saudi Arabia. The key focus of their discussions revolved around reinforcing economic cooperation, attracting Saudi investments, and speeding up collaborative initiatives in critical sectors. The Prime Minister began by conveying his best wishes to the leadership of Saudi Arabia and reaffirmed Pakistan’s strong commitment to supporting Saudi investors. He highlighted Pakistan’s strategic geographical position and investment-friendly policies as key factors in facilitating…
ISLAMABAD, March 19: Deputy Prime Minister Ishaq Dar announced on Wednesday that the retail price of sugar should not exceed Rs164 per kilogram, following concerns raised by the Competition Commission of Pakistan (CCP) about price manipulation by sugar mills. Despite efforts by the government, including directives from the Prime Minister to keep prices at Rs130 per kilogram, retail sugar prices continue to soar, reaching over Rs180 per kilogram in various markets across the country. The surge in sugar prices is also attributed to increased consumption, which is projected to rise slightly to 6.7 million tonnes due to population growth and…
ISLAMABAD, March 19: Federal Investigation Agency (FIA) has sought contact details of individual of high worth in sugar industry for investigating the sugar prices and crisis. The investigation is marked by the Prime Minister asking the chief crime agencies of the state to find out the truth behind the sugar hoarding and other issues. A letter is addressed to the Chairman, Pakistan Telecommunication Authority, Islamabad titling, “FIA action against sugar hoarders and unrelated individuals/fake buyers”. It is asking further, “It is requested that the matter has been taken up by Hon’ble Prime Minister of Pakistan on 05.02.2025 regarding the subject…
Islamabad, March 19: Google has announced its decision to acquire rapidly growing cybersecurity firm Wiz for $32 billion, marking the tech giant’s largest-ever acquisition. This all-cash deal signals Google’s significant commitment to cloud security and cybersecurity as artificial intelligence continues to grow at an explosive rate. The acquisition of Wiz, which still requires regulatory approval, easily surpasses Google’s previous biggest acquisition, which was the 2012 purchase of Motorola Mobility for $12.5 billion — a deal that Google later sold at a significant loss. Google Largest Purchase – Wiz, Profile Wiz, a cybersecurity software company focused on cloud computing, had previously…
Islamabad, March 19: The world has just witnessed its hottest decade, according to the latest State of the Global Climate report from the World Meteorological Organization (WMO). This report, widely regarded as the most authoritative source on climate updates, reveals alarming trends that should prompt global leaders to take decisive action. However, experts are doubtful that such action will materialize given the current lack of urgency. The report highlights that the atmospheric concentrations of carbon dioxide, methane, and nitrous oxide have reached the highest levels in 800,000 years. In 2024, a new heat record was set, with 2024 being confirmed…
Islamabad, March 19: Fauji Fertilizer Company (FFC) has signed Memorandums of Understanding (MoUs) with four leading banks to facilitate clean financing of up to Rs500,000 for farmers registered with its Sona Centers. This collaboration aims to enhance financial inclusion and foster agricultural growth in Pakistan. Through this partnership, FFC and the banks have committed to providing up to Rs1 billion in clean financing, ensuring that vital financial support reaches Pakistan’s farmers, who are considered the backbone of the country’s economy. The initiative highlights the shared goal of supporting Pakistan’s agricultural sector by making it easier for farmers to access funds…
Washigton/Islamabad, March 19: The World Bank’s Board of Directors has approved a $102 million financing package for the Resilient and Accessible Microfinance (RAM) Project, aimed at enhancing access to microcredit and bolstering the resilience of the microfinance sector, particularly in the face of climate-related challenges. The project is designed to benefit nearly 1.89 million people, including over 1 million women and more than 350,000 youth, with a focus on low-income and rural communities. By providing financial support to microfinance institutions (MFIs), the project will ensure continued access to essential financial services, even under climate-induced financial pressures. It will also facilitate…
