Business

ISLAMABAD: Care­taker Prime Mini­ster Anwaarul Haq Kakar emphasised on Tuesday the need to realise the true potential of the country’s agricultural sector by scaling up investments in its modernisation and mechanisation to achieve food security. He was talking to Brian Sikes, CEO of the American global food corporation Cargill Inc., during a meeting on the sidelines of the 54th annual …

ISLAMABAD: Ahead of the proposed induction of the private sector for divestment and management contracts, the caretaker government has prohibited all forms of union activities in the power sector. This decision encompasses all public sector power companies, including those in the business of generation, transmission, distribution and sale of electricity, bringing them under the scope of the “Pakistan Essential Service …

ISLAMABAD: On the sidelines of the 54th annual meeting of the World Economic Forum (WEF) being held in Switzerland, caretaker Prime Minister Anwaarul Haq Kakar will invite international community to invest in Pakistan under the Special Investment Facilitation Council (SIFC) initiative. The prime minister arrived in Switzerland on Sunday to participate in the Davos event, which will continue till January 19. He …

KARACHI: The Volun­tary Delisting Committee (VDC) of the Pakistan Stock Exchange (PSX) has determined a minimum buyback price of Rs609 per share as against Rs406 offered by Pak Suzuki Motor Company Ltd (PSMCL) for delisting. PSX in its announcement said that the voluntary delisting application of the PSMCL was considered on Monday. The committee had determined the minimum buyback price …

ISLAMABAD: In yet another blow to electricity consumers, the Central Power Purchasing Agency (CPPA) on Monday sought more than 100pc (Rs5.62 per unit) increase in fuel charges to mop up about Rs42 billion for ex-Wapda Distribution Companies (Discos) through February consumer bills and make up for subdued consumption of the most expensive electricity. This is apparently the highest-ever increase in …

KARACHI: In over three years since its launch in September 2020, Roshan Digital Account (RDA) has emerged as a significant source of foreign inflows, reaching $7.195 billion by the end of December 2023. According to the State Bank of Pakistan’s data released on Monday, the inflows in December were $160 million marking a much better performance compared to other months. …

In a challenging, complex situation, one can see consensus-building surfacing on how to resolve major issues, both by design as well as by independent actions of various stakeholders/institutions that tend to work in harmony. A major issue on which near-consensus or consensus is so obvious is that elections should be held as scheduled on February 8. And that long-term policies …

One of the two main perennial canals of Kotri Barrage, Akram Wah or the lined channel, will no longer be a lined channel once its remodelling and rehabilitation phase is done under World Bank funded Sindh Water and Agriculture Transformation (SWAT) project. Its remodelling and improvement will be done for Rs898 million by Sindh Irrigation and Drainage Authority (Sida) under …

The inflow of remittances to Pakistan has yet to show a satisfactory trajectory since January 2022. The monthly inflow of remittances for the first three quarters of 2023 was lower than both the previous year and 2021. The count of remittances from January to November 2023 was $23.96 billion, reflecting a decrease of $3.83bn compared to the corresponding period in …

It requires a great deal of boldness and a great deal of caution to make a great fortune, and when you have got it, it requires ten times as much wit to keep it’ Nathan Mayer Rothschild. Financially strangled, uncertain future, and hopelessness. These words best describe the struggling class of Pakistan. Savings only in the form of real estate, …