Islamabad, Oct 23: Pakistan, China to Fund ML-1 Railway Project in Phases Rather, both sides have agreed to fund the project in stages. The main line project will be divided into two distinct contracts for phased construction, according to sources. Phase I, which will be completed next month, will provide $3.2 billion in finance. Railway lines from Karachi to Hyderabad and Hyderabad to Multan will be built during this phase. Following the successful completion of the first phase, a feasibility study will be conducted to cover the Multan to Peshawar portion in the second phase. According to sources, Phase I…
Author: Mawadat Fatima
Islamabad, Oct 23; Karachi Board Registration Deadline Extended for 2024 Matric Exams A Karachi board representative stated that the registration and permission form due for the annual exams for grades 9 and 10 has been extended. Both the general and science groups for both regular and private students are covered by this extension. There is no longer a late fee for submitting forms between October 21 and October 31. They are offered at booths in the board office as well as at National Bank, Askari Bank, and United Bank. The representative stressed that following the new deadline, no forms will…
Islamabad, Oct 23: Govt Renegotiates Power Agreements With 8 IPPs, Reduces Costs Amid Energy Crisis Eight bagasse-fired Independent Power Producers (IPPs) have had their contracts effectively renegotiated by the Energy Task Force, potentially saving the government between Rs. 85 and Rs. 100 billion. According to Business Recorder, the updated agreements also lower the recently approved rate adjustment of Rs. 22 billion by the National Electric Power Regulatory Authority (NEPRA) by Rs. 8 billion. Major sugar mills like JDW-II, Hamza Sugar Mills, and Chiniot Sugar Mills are among those included in the updated agreements. The price of bagasse fuel has been…
Islamabad, Oct 23: To maintain order during the highly anticipated Test match between Pakistan and England at the Rawalpindi Cricket Stadium, the Rawalpindi City Traffic Police (CTP) has implemented a comprehensive traffic management plan. To oversee the roads surrounding the stadium throughout the five-day event, an estimated 370 traffic police officers would be stationed throughout the city, according to reports. As usual, when the teams are arriving and departing, Murree Road from Faizabad to Double Road will be completely closed. Vehicles traveling from Rawalpindi to Islamabad will be rerouted to Saidpur Road via 6th Road, while traffic traveling from Islamabad…
Islamabad, Oct 23: Manchester United Approaches Former Barcelona Captain for Coaching Role According to reports, Manchester United has contacted former Barcelona manager and player Xavi Hernandez about a potential managerial comeback as Erik Ten Hag’s future at Old Trafford remains uncertain. Their current 12th-place finish in the Premier League table raises concerns about the club’s management, since the Dutch manager has failed to turn things around since taking over the illustrious club in 2022. Xavi has reportedly received two messages from United’s middlemen in recent months, which has fueled rumors regarding his future and United’s preparations in the event that…
Islamabad, Oct 23: A person cannot serve as an independent director of a listed business if they directly or indirectly own more than one percent of the voting rights in that firm. To propose changes to the Listed Companies (Code of Corporate Governance) Regulations, 2019, the Securities and Exchange Commission of Pakistan (SECP) released S.R.O.1639(I)/2024 on Wednesday. The notification states that unless there are exceptional circumstances, which should be communicated in writing to the company secretary or board chairman beforehand, it will be mandatory for the chief executive officer and the directors of a company, who together make up one-third…
Islamabad, Oct 23: Pakistan Finance Minister Advocates for Multilateral Financing Solutions to Address Economic Challenges Muhammad Aurangzeb, the Federal Minister of Finance and Revenue, was present at the G-24 Ministers and Governors Meeting in Washington, DC. In order to address the urgent problems of population increase, child stunting, and climate change that developing nations—particularly Pakistan—face, the Minister called on all development partners to collaborate together. The finance minister stressed the importance of addressing issues such as the heavy debt loads on developing nations, the need for climate action, and increased representation of developing nations in the Bretton Woods institutions in…
Islamabad, Oct 23: Finance Minister Optimistic on Securing Major Energy Debt Relief from China Finance Minister Muhammad Aurangzeb said Pakistan’s request to extend energy sector debt payments has been met with an encouraging response from China, reported Bloomberg. As the nation struggles with high electricity rates that have risen for some households in recent years, the extension, if authorized, will offer financial respite. With new tax policies aimed at industries like retail and agriculture anticipated to go into force shortly, the finance minister underlined once more the necessity of increasing Pakistan’s tax-to-GDP ratio to 13.5%. The federal government’s strategy to…
Islamabad, Oct 23: PM Office Will Now Receive Summaries Digitally Only The federal government has made it mandatory for all ministries to forward summaries and files to the Prime Minister’s office through E-Office starting from November 1, 2024. The PM Office Will Now Receive Summaries Digitally Only has issued directions to the Cabinet Division and Establishment Division regarding the operationalization of the E-Government Module (E-Office) within the federal government. The Cabinet Division must ensure that all summaries and files will only be received through E-Office starting from November 1, 2024. The government has been working towards implementing the E-Office system…
Islamabad, Oct 23: Saeed Anwar Turns Down PCB Coaching Role Former Pakistani leg-spinner Mushtaq Ahmed has disclosed the real reason behind Saeed Anwar’s refusal to return to cricket despite a valid coaching offer from the Pakistan Cricket Board (PCB). With performances that defined a period of cricket in the 1990s and early 2000s, the graceful left-hander solidified his status as one of the best openers Pakistan has ever produced. However, in August 2003, Anwar made the decision to retire from the sport at the age of 34, and what followed was an unexpected silence from the cricketing legend. In a…
