Aurangzeb pitches reform agenda in Washington, highlights new investment opportunities
Pakistan Seeks Stronger Economic Ties With Saudi Arabia, U.S. Investors Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has held a series of high-level meetings with global financial and business leaders in Washington, seeking to deepen Pakistan’s economic partnerships with Saudi Arabia, the United States, and other key stakeholders. The meetings, held on the […]
Pakistan Cuts Petrol Price by Rs5.66 per Litre
In a major relief for consumers hit by rising living costs, the government on Wednesday slashed petrol prices by Rs5.66 per litre for the next fortnight, bringing the new rate down to Rs263.02 per litre from Rs268.68. The Finance Division said the cut, effective from October 16, follows recommendations from the Oil and Gas Regulatory […]
UBL to Upgrade All Basic Accounts to Mukammal Current Accounts from Oct. 15
United Bank Limited (UBL) announced that it will convert all Basic Banking Accounts (BBA) into its Mukammal Current Accounts starting Wednesday, offering customers broader banking services without any action required on their part. Existing BBA holders will automatically shift to the Mukammal product, which eliminates minimum balance requirements and initial deposits, while adding perks such […]
PPL Hands Operatorship of Offshore Indus Block to Turkish Petroleum
Deal brings Turkiye into Pakistan’s offshore exploration; OGDCL, Mari Energies join consortium In a major boost to Pakistan’s offshore energy ambitions, Pakistan Petroleum Limited (PPL) has announced a strategic partnership with Turkish Petroleum Overseas Company (TPOC), transferring operatorship of the Eastern Offshore Indus Block-C to the Turkish firm under a landmark farm-out agreement. The deal […]
Rs172b ADB Road Project Scandal: Senate Panel Slams NHA for Concealing Procurement Irregularities
Committee also questions SBP over NBP’s £22m UNBL UK share sale to UBL The Senate Standing Committee on Economic Affairs has accused senior officials of the Ministry of Communications and the National Highway Authority (NHA) of concealing major procurement irregularities in the ADB-financed CAREC Tranche-III (Rajanpur–D.G. Khan–D.I. Khan) road project worth Rs172 billion, calling it […]
Pakistan Set to Cut Petrol Prices by Rs6.10 a Litre From Oct. 16
Pakistan plans to reduce retail fuel prices from Oct. 16 following a marginal decline in global oil prices, according to people familiar with the matter. The price of petrol is expected to fall by Rs6.10 per litre, while high-speed diesel may be lowered by 97 paisa, the people said, asking not to be identified before […]
China steps up yuan push as dollar dominance faces growing challenge
Beijing’s latest financial maneuvers signal a determined bid to weaken global reliance on the U.S. currency China is accelerating efforts to boost the yuan’s global standing and chip away at the U.S. dollar’s dominance, marking a significant moment in the shifting balance of global finance. The push comes amid weakening confidence in the greenback and […]
K-Electric board delays key meeting on Saudi investment to Oct 20
The much-anticipated board meeting of K-Electric, scheduled for Monday to discuss crucial matters including potential Saudi investment, was postponed. The meeting, now rescheduled for October 20, was a continuation of the board’s previous session held on October 9. According to company insiders, the postponement was prompted by “some important internal matters including the unavailability of […]
Saudi investors sign landmark MoU to acquire majority stake in K-Electric
In a major breakthrough for Pakistan’s power sector, Saudi investor Prince Mansour bin Saud on Thursday signed a historic memorandum of understanding (MoU) to acquire a majority stake in K-Electric, paving the way to end years of ownership disputes that had stalled foreign investment in the country’s largest power utility. The signing ceremony took place […]
CCP Greenlights Merger to Boost Bank Makramah’s Growth and Capital Strength
In a major step toward transforming its financial footing, Bank Makramah Limited (BML) has secured approval from the Competition Commission of Pakistan (CCP) for the merger of M/s. Global Haly Development Limited (GHDL) with and into BML. The approval marks another milestone in the bank’s ongoing recapitalization and restructuring drive, aimed at reinforcing its position […]
