ISLAMABAD: In order to improve the Karachi Port and spur economic activity, Abu Dhabi will contribute $250 million over the course of ten years. The CEO of Abu Dhabi Ports Pakistan, Khurram Aziz Khan, visited with Prime Minister Shehbaz Sharif on Friday and told him that the corporation will be investing $250 million in the port over the next ten years, according to the PM Office. The CEO of the firm stated, accompanied by a delegation, that a fully functional multifunctional terminal will be finished in two years at a cost of $130 million. Cargo ships with a maximum capacity…
Author: Mawadat Fatima
ISLAMABAD As the government gets ready to implement its new $7 billion International Monetary Fund (IMF) agreement, Finance Minister Mohammad Aurangzeb stated on Friday that Pakistan will concentrate on meeting its external financing needs by corresponding with foreign governments and lenders to attract foreign investment as well as looking for loan rollovers. Earlier this month, Pakistan and the IMF came to an agreement for the 37-month loan term. Tough measures like increasing the tax on agricultural revenues and the price of energy have raised worries about how Pakistanis in the lower and middle classes would handle growing inflation and the possibility…
Pakistan is adopting a number of eco-friendly programs to address environmental issues and advance sustainability. The nation’s multiple policies and initiatives aimed at promoting a greener and more sustainable future demonstrate its commitment to combating climate change and pollution. The government’s green policy was founded on the Billion Tree Tsunami (2014–18) program, which successfully implemented the idea that using natural solutions could both maintain and protect the environment and perhaps promote the growth of a different kind of green economy. Introduction Pakistan has long been plagued by environmental problems. There are different environmental issues facing the nation, such as deforestation…
Introduction Pakistani business innovators are major the way in 2024, using technology and innovative ideas to motivate economic expansion. These innovators are not only create established business structures but also establishing fresh trends across a range of sectors. This article highlights important areas of innovation and the difficulties faced by Pakistani entrepreneurs as they investigate how they are creating successful startups and influencing business trends. Pakistani Entrepreneurs Pakistani businesspeople are becoming more and more known for their aptitude for seeing possibilities and developing game-changing solutions. Pakistan’s entrepreneurial environment has developed well because of the rising investor community, government regulations, and…
Khawaja Salman Rafique, the Punjab Minister for Health and Emergency Services, stressed the need of preparing medical personnel for the impending air ambulance service. He said that Punjab will see the introduction of the air ambulance service for the first time in the history of the nation at a briefing at Rescue 1122 headquarters on the service and Muharram’s response. The Rescue 1122 Air Ambulance Service was almost ready to launch, according to Emergency Services Secretary Dr. Rizwan Naseer. The minister directed the emergency services secretary to set up online training sessions and said that the air ambulance service will…
The Power Division has been instructed by the Senate Standing Committee on Power to provide all relevant information on contracts with Independent Power Producers (IPPs). In an effort to better understand where the money goes and how it is spent, the committee on Friday called for a comprehensive review of all relevant IPP activities and contracts. The committee has requested a cost comparison between IPP plants built after 1992 and comparable establishments in nearby nations. It also requested comprehensive records of capacity payments to IPPs for the last 20 years, and with justifications for such payments. It is also desired to…
A Microsoft cloud computing suite failure on Friday caused disruptions for businesses all around the world. Flights were grounded, news sources were unable to transmit updates, and trading house operations were impeded. There have been reports of outages in Australia, the US, the UK, and India that have affected everything from government facilities and airports to banks, media outlets, and financial exchanges. The past 24 hours, disruptions for Microsoft services, such as the cloud computing program Azure and the office suite Microsoft 365, were recorded worldwide. 1,751 outages were recorded in the US. On its website, Microsoft stated that a portion…
It is anticipated that the federal government would amend the Solar Net-Metering Policy to extend the payback term from three to five years and to align the buyback rate for net metering with the average energy cost. According to Business Recorder, this suggestion was presented at an online seminar hosted by the German economic organization GIZ. At the moment, net-metered systems carry forward extra energy units for three months before they are valued monetarily and adjusted for peak usage. A month’s notice was recommended by some experts and DISCOs in order to encourage self-consumption and discourage the installation of large solar…
An affiliated business founded for building prospects, Chinoy Engineering & building (Pvt) Limited (CECL), has won a contract to construct a Permanent Accommodation Camp at the Reko Diq Copper Gold Mines in Baluchistan. International Industries Limited (INIL) has been extended an invitation by CECL to invest in 4.845 million ordinary shares, or Rs. 48.45 million, which represents 17% of CECL’s post-issuance capital. In addition, CECL requests a performance guarantee for its contract with Reko Diq Mining Company Ltd (RDMC), a corporate guarantee for up to Rs. 1.5 billion from Habib Bank Limited, and a short-term loan of up to Rs.…
According to the Asian Development Bank (ADB), Pakistan’s interest payments are predicted to consume an astounding 62 percent of its fiscal receipts, up from 41 percent in 2022–2023. According to the bank’s “Asian Development Outlook,” public debt in Pakistan is expected to drop by 7 percentage points to 70% of GDP in 2024–2025. Even still, it is anticipated that interest payments would account for an astounding 62% of fiscal receipts, up from 41% in 2022–2023.The bank went on to say that Pakistan likewise lowered policy rates over the same period last year, with inflation dropping from 38 percent in May…