Business

KARACHI: Pakistan International Container Terminal Ltd (PICT) said on Monday it has found no “immediate financial viable business opportunity” in a review exercise it held recently to look for possible business avenues. One of the four container-terminal operators in Pakistan until recently, PICT lost its principal line of business when its 21-year concession agreement with the Karachi Port Trust (KPT) …

KARACHI: Shell Pakistan Ltd (SPL) said on Monday it has received a public announcement of intention from UK-based Prax Overseas Holdings Ltd to buy its 77.42 per cent shares, which are currently held by the oil firm’s foreign sponsor. The potential acquirer is a British investment firm with its entire shareholding resting with fuel supplier State Oil Ltd. The energy …

ISLAMABAD / LAHORE: The caretaker government has called for strict enforcement of the cotton support prices set earlier this year, with Prime Minister Anwaarul Haq Kakar on Sunday ordering action against those exploiting the situation and buying cotton below the predetermined rate of Rs8,500 per 40kg. Caretaker Punjab Chief Minister Mohsin Naqvi, who met PM Kakar to discuss the issue, …

At 17.7 per cent, the prevalence of wasting among young children is beyond the internationally accepted emergency threshold of 15pc, according to Pakistan Nutrition Humanitarian Overview 2022. Extremely alarmingly, 40.2pc of children are stunted and 28.9pc children are underweight. Women of reproductive age (15–49) years bear a double burden of malnutrition, accounting for one in seven who are undernourished, while …

ISLAMABAD: Kar­achi’s power utility K-Electric has sought another Rs3.02 per unit in tariff adjustment for the April-June quarter of this year. The National Electric Power Regulatory Autho­rity (Nepra) has accepted the petition for a public hearing on Oct 19 (Thurs­day) to examine whether KE’s request was justified and whether the company’s claim for Rs13.2 billion write-off against unrecovered bills should …

ISLAMABAD: Care­taker Finance Minister Dr Shamshad Akhtar on Sunday underlined Pakistan’s commitment to promoting economic prosperity and fostering global financial cooperation. The minister participated in a high-profile meeting of IMF chief Kristalina Georgieva with the finance ministers from the Middle East, North Africa and Pakistan (Menap), as well as state bank governors in Marrakesh, Morocco. During the meeting, the discussions …

ISLAMABAD: For the second fortnight in a row, the Caretaker Prime Minister Anwaarul Haq Kakar’s government reduced petrol and high-speed diesel (HSD) prices for the next 16 days, ending Oct 31, as a result of decline in the international market and an appreciation in the rupee’s value. The petrol price was cut by Rs40 per litre, and HSD lowered by …

ISLAMABAD: Pakistan will introduce the next generation of the Raast-supported digital public infrastructure (DPI) project, reducing reliance on cash and driving financial inclusion in the country, with the help of the Bill and Melinda Gates (BMG) Foundation. In this regard, the finance ministry signed a memorandum of understanding (MoU) with the BMG Foundation in Marrakesh on Friday on the sidelines …

KARACHI: If you think the current affordability crisis in the country’s energy sector is bad, look out for the sustainability crisis that’s about to rattle our already struggling export sector. Analysts say the long-term future of every business that exports goods to the European Union (EU) depends in large part on the kind of electricity it uses to manufacture its …

KARACHI: If you think the current affordability crisis in the country’s energy sector is bad, look out for the sustainability crisis that’s about to rattle our already struggling export sector. Analysts say the long-term future of every business that exports goods to the European Union (EU) depends in large part on the kind of electricity it uses to manufacture its …