Islamabad, Feb 4: Millat Tractors Limited (PSX: MTL) has received approval from the Lahore High Court (LHC) for the merger of its subsidiary, Millat Equipment Limited (MEL), into MTL. The court’s decision, issued in Civil Original No. 30220/24, officially sanctions the Scheme of Arrangement, which outlines the amalgamation process along with related matters.
Author: Iqra Khan
Islamabad, Feb 4: According to official records, the financial burden of interest payments on loans taken by 14 state-owned entities has soared by Rs. 211 billion, pushing their total outstanding liabilities to Rs. 305 billion. This rising debt has placed significant strain on both these institutions and the Trading Corporation of Pakistan (TCP), which serves as the primary lender and is itself facing a worsening financial situation. Among the most indebted entities, the Utility Stores Corporation (USC) has seen its obligations balloon to Rs. 103.31 billion. Although the original loan amounted to Rs. 24.23 billion, accumulated interest charges have pushed…
Islamabad, Feb 3: The final round of the 2nd COAS National Inter Club Hockey Championship 2025 kicked off today with a colourful opening ceremony. The honourable Chief Guest, Lieutenant General Fayyaz Hussain Shah, declared the tournament open amidst a large gathering of hockey legends, PHF officials, and sport enthusiasts. The opening ceremony was witnessed by thousands of school children and players. The trophy of the tournament was also unveiled, followed by the launch of the official song of the grand event and performance on national song that added to the excitement and enthusiasm of the gathering. The distinguished guests included…
Islamabad, Feb 3: In a significant move towards sustainable mobility, foodpanda, Pakistan’s leading food and grocery delivery platform, has officially launched Electric Bikes as part of its delivery fleet. The collaboration is done jointly with the Government of Punjab and Wasl (a non-banking finance company) with a view to reduce carbon emissions and promote eco-friendly delivery solutions. The launch event in Lahore was attended by the Parliamentary Secretary, Excise, Taxation & Narcotics Control, Shehryar Malik and Chairperson, Public Accounts Committee, Ahmad Iqbal Chaudhary who also distributed EV bikes among foodpanda riders to officially mark the beginning of the program in…
Islamabad, Feb 3: A delegation from the Climate Vulnerable Forum (CVF) – V20, representing finance ministers from nations most vulnerable to climate change, met with Federal Minister for Finance Senator Muhammad Aurangzeb at the Finance Division today to discuss urgent climate-related issues. The delegation, led by Sara Jane Ahmed, Managing Director of CVF-V20, engaged in detailed discussions on key topics such as climate risk mitigation, adaptation and mitigation financing, agricultural insurance, and enhancing urban flood resilience. The delegation also shared updates on Pakistan’s initiatives in the climate space, including the country’s newly launched Carbon Market Policy and the establishment of…
Islamabad, Feb 3: A delegation of Saudi Fund for Development (SFD), led by Mr. Sultan Bin Abdul Rehman Al Marshad, Chief Executive Officer (CEO) called on Prime Minister Muhammad Shahbaz Sharif here today. The Prime Minister welcomed the delegation and appreciated the long-standing friendship between the Kingdom of Saudi Arabia and Pakistan and the efforts of SFD for providing financing to Pakistan in the fields of Health, Energy, Infrastructure and Education as well the for the reconstruction after the 2022 floods. The CEO, SFD thanked the Prime Minister and Government of Pakistan for the warm welcome and hospitality extended to…
Islamabad, Feb 3: A significant meeting took place today between Prime Minister Shahbaz Sharif and a delegation from the Saudi Fund for Development (SFD), led by CEO Sultan bin Abdul Rahman Al-Marshad. During the meeting, Prime Minister Sharif witnessed the signing of an Oil Import Financing Facility agreement worth $1.2 billion, which aims to ease Pakistan’s fiscal challenges by securing a stable supply of oil on deferred payment for one year. The prime minister welcomed the SFD delegation, acknowledging the strong, long-standing relationship between Saudi Arabia and Pakistan. He commended the SFD’s contributions across multiple sectors, including health, energy, education,…
Islamabad, Feb 3: Experts and policymakers on Monday stressed that achieving sustainable economic transformation requires overcoming long-standing structural inefficiencies and ensuring inclusivity. The Sustainable Development Policy Institute (SDPI) held its Monday Seminar on “Policy Coherence for Economic Transformation,” emphasizing the urgent need for integrated and well-coordinated economic policies. Dr. Shamshad Akhter, former Governor of the State Bank of Pakistan and Chairperson of the Board of Directors at the Pakistan Stock Exchange, highlighted that policy coherence is fundamental for meaningful economic transformation. She underscored climate change as a major economic risk, citing that Pakistan has incurred costs of $52.93 billion due…
Islamabad, Feb 3: Tapal Tea, a leading FMCG brand in Pakistan, has successfully embarked on a comprehensive digital transformation journey by implementing SAP’s state-of-the-art cloud solutions, aiming to drive operational excellence, strategic alignment, and future growth. The company, long committed to staying ahead of industry standards, has partnered with SAP to transition its entire business infrastructure to the cloud, marking a significant milestone in Pakistan’s FMCG sector. The transformation initiative encompasses SAP’s S/4 HANA system on the cloud known as RISE with SAP, along with various modules including SuccessFactors for Human Resource Management, Ariba for sourcing, Extended Warehouse Management (EWM)…
Islamabad, Feb 3: Greenwich University has signed a Memorandum of Understanding (MoU) with Management Association of Pakistan (MAP) and Xenith Public Relations (XPR) to co-create specialized diploma courses for students and young professionals in Pakistan. The unique tri-lateral collaboration, between a University, a Management Association and a Communications Firm,aims to equip students with in-demand skills, addressing industry gaps and strengthening ties between academia and the corporate sector. The MoU signing was officiated by Vice Chancellor of Greenwich University, Dr. Seema Mughal,President of Management Association of Pakistan, Senator Sarmad Ali and Chairperson of Xenith PR, Zainab Ansari.
