Federal Minister for Privatization & Board of Investment Abdul Aleem Khan emphasized the urgent need for privatizing 15 to 20 institutions amid the current economic challenges, labeling loss-making entities as detrimental to the national economy. Khan, speaking outside Parliament on Thursday following his Senate vote, underscored that the persisting deficit of Pakistan International Airlines (PIA)…
The Maldives has entered into a defense pact with China, officials revealed on Tuesday, as the directive for Indian troops stationed in the strategically situated archipelago to depart looms. President Mohammed Muizzu, who took office last year with an anti-Indian stance, ordered the exit of Indian military personnel by May 10, 2024. In a diplomatic…
Pakistan’s Ministry of Energy has warned that without substantial investments in indigenous energy resources and energy efficiency measures, the nation could face a staggering annual expenditure of $60 billion on petroleum imports by 2044, a significant leap from the current $17.5 billion in FY2022-23. Pakistan has recently approved work on work on an 80-kilometer portion…
The Competition Commission of Pakistan (CCP) has given the green light to three mergers involving M/s Saudi Iron and Steel Company (Hadeed), which holds a stake in Pakistan’s steel market. The approval for mergers encompasses the restructuring of two entities across three stages of transactions. Hadeed, headquartered in Saudi Arabia, is a prominent producer of…
Miracle Saltworks Collective Inc. USA, a company specializing in the mining and crafting of Himalayan Salt, has announced to investment of $200 million in a collaboration with the Pakistan Mineral Development Corporation (PMDC) to capitalize on the rich mineral resources of the region. The announcement was made during a gathering where the Chairman Senate emphasized…
Global demand for liquefied natural gas (LNG) is projected to surge by over 50% by 2040, driven by increasing industrial coal-to-gas transition in China, along with elevated usage of LNG in South Asian and South-east Asian nations to bolster economic expansion, as per Shell’s LNG Outlook 2024. Trade in LNG hit 404 million tonnes in…
Pakistan State Oil (PSO), Inter State Gas Systems Pvt. Ltd (ISGS) and the military-owned Frontier Works Organization on Wednesday formed a consortium and signed a Memorandum of Understanding (MoU) for Machike-Thallian-Tarujabba White Oil Pipeline Project. The signing ceremony took place at the Special Investment Facilitation Council (SIFC) Secretariat, PM Office. Present at the event…
A woman’s daring rescue of ‘Fluffy’, an invasive alligator snapping turtle, from a local lake in Cumbria, northwest United Kingdom, has garnered attention for the unusual encounter. The alligator snapping turtle, reminiscent of a dinosaur, is native to Florida but found its way into the small English lake, as reported by The New York Post….
A 20-year-old Panamax bulk carrier, Star Bulk’s Star Iris, became the latest target of Houthi militants on Monday. The carrier, owned by NASDAQ-listed Star Bulk, was fired upon twice within a span of 20 minutes by missiles while passing through the Bab al Mandab strait in a southeast direction. AIS data obtained from MarineTraffic indicates…
The Government of Pakistan must guarantee the right to peaceful protest across the country, Amnesty International said Wednesday as the Baloch Long March protesters were forced to end their month-long sit-in protest in Islamabad following repeated harassment by the authorities. Hundreds of women in the Baloch Long March journeyed about a thousand miles from Turbat…
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