Islamabad, Dec 20: The Competition Commission of Pakistan (CCP) has imposed penalties of Rs 75 million each on two manufacturers of frozen desserts for misleading consumers by falsely advertising their products as “ice cream.” CCP initiated these proceedings on a complaint filed by M/s Pakistan Fruit Juice Company (Private) Limited, the manufacturers of “Hico” ice cream, alleging about two undertakings engaged in deceptive marketing by portraying their “frozen desserts” as ice cream through televised advertisements and social media campaigns. The Commission directed a formal enquiry into the matter and later issued show cause notices to M/s Unilever Pakistan and M/s…
Author: Mawadat Fatima
Pakistan’s rice exports saw a significant increase of 35.40 percent during the first five months of the current fiscal year (2024-25), compared to the same period last year. According to data from the Pakistan Bureau of Statistics (PBS), the country exported over 2.377 million metric tons of rice, including basmati and other varieties, from July to November 2024, worth $1.515 billion. This was up from 1.721 million metric tons, valued at $1.119 billion, in the same period last year. Basmati rice exports rose by 34.64 percent, reaching 370,282 metric tons, valued at $386.116 million, compared to 244,664 metric tons and…
Islamabad, Dec 20: Syed Irfan Nazar’s life took an unexpected turn in 2022 when he suddenly lost his job. The 45-year-old Pakistani expatriate faced both financial and legal difficulties after his employer canceled his visa, leaving him, his wife, and five children in a vulnerable position. “I couldn’t even afford milk for my children,” Nazar recalled. Returning to Pakistan was not an option. “I’ve only been back a few times—once for my wedding and again when my parents passed away. There’s no one left there. I can’t imagine leaving the UAE.” Having moved to the UAE in 2000, following his…
Islamabad, Dec 20: FACE (Food Security & Agriculture Centre of Excellence), a non-profit organization, has partnered with the Punjab Government to enhance the agriculture sector. A Memorandum of Understanding (MoU) was signed between the Punjab Agriculture Department and FACE on Thursday, December 19. FACE will assist the Punjab Agriculture Department by providing technological innovations, global expertise, and infrastructure development aimed at improving crop yields and promoting sustainable farming practices that are suited to the region’s changing climate. Punjab Agriculture Minister Syed Ashiq Hussain expressed confidence that this collaboration will address critical challenges, such as food security, low crop yields, and…
Islamabad, Dec 20: The government-operated electric vehicle (EV) charging network, UAEV, has announced that its revised tariffs will take effect in January 2025. The updated rates include Dh1.20 per kWh (plus VAT) for DC chargers and Dh0.70 per kWh (plus VAT) for AC chargers. These adjustments aim to support the sustainability and scalability of the EV charging infrastructure. Despite the introduction of tariffs in May, EV charging services have remained free until now. To enhance user convenience, UAEV is introducing a mobile app that offers features like locating nearby charging stations, real-time status updates, and streamlined payment options. Additionally, a…
Islamabad, Dec 20: The government is working to secure an extra $500 million in project financing from multilateral institutions during the ongoing fiscal year. Negotiations are currently underway with the Asian Development Bank (ADB), the World Bank, and the Islamic Development Bank (IDB) to finalize the funding. According to sources, the Ministry of Finance and the Economic Affairs Division are actively engaged in discussions with these institutions. The revised project financing target for this fiscal year has been increased to $5.6 billion, up from the initial estimate of $5.1–$5.2 billion. The ADB is expected to contribute over $300 million toward…
Islamabad, Dec 20: The UAE Consul General in Karachi, Dr. Bakheet Ateeq Al Rumaithi, has refuted claims that Pakistanis are being denied visas, reaffirming the UAE’s dedication to maintaining strong relations with Pakistan. During the inauguration of Emirates World in Karachi, Dr. Al Rumaithi clarified that there are no restrictions on issuing visas to Pakistani citizens. Earlier reports suggested visa rejections, raising concerns about potential policy changes. Speculation included claims that the UAE was restricting work visas to highly skilled workers. However, the Consul General’s statement sought to reassure the public of the UAE’s continued openness toward Pakistan. On the…
Islamabad, Dec 20: The prices of branded ghee and cooking oil have increased, despite a decline in the cost of imported palm oil. Retailers report that the price of branded ghee and cooking oil has risen by Rs. 80 per kg/litre, now reaching Rs. 570, while some major brands have increased prices by up to Rs. 100 per kg/litre, according to a national daily. Sheikh Umer Rehan, Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA), explained that global palm oil prices, which had peaked at $1,285 per tonne, have now dropped to $1,185 per tonne. This reduction has lowered the…
Islamabad. Dec 20: A closing ceremony is held today to mark the successful completion of the project “Community-led Flood Rehabilitation and Restoration in Sindh, Balochistan, and Khyber Pakhtunkhwa Provinces of Pakistan”. This project, supported by the Government of Japan in partnership with Pakistan’s federal and provincial governments, was a key component of UNDP’s flagship Pakistan Flood Recovery Programme, launched in April 2023 to support one million of the most vulnerable people impacted by the devastating floods of 2022. With a generous contribution of USD 4.6 million from the Government of Japan, the project focused on six of the most severely…
Islamabad, Dec 20: Rafhan Maize Products Co. Limited (PSX: RMPL) has announced its intention to begin negotiations and carry out due diligence for acquiring a silo-based storage facility in Deepalpur. The company made this announcement through a filing to the Pakistan Stock Exchange (PSX) today. According to Rafhan Maize, the acquisition is part of its plan to improve supply chain efficiency by better managing raw material storage. This move is expected to streamline operations and enhance customer service. The company also highlighted that the proposed facility will be crucial in optimizing its supply chain, allowing it to meet customer demands…
