Pakistan
News about Pakistan.
Government Orders Third-Party Audit of Fertilizer Companies, Eyes Turkmenistan Trade
The Ministry of Industries and Production on Thursday ordered a third-party audit of local fertilizer companies to determine production costs, aiming for transparency and fair pricing within the industry. Besides, Islamabad also eyes Turkmenistan trade including urea imports. Federal Minister for Industries and Production Rana Tanveer Hussain announced this initiative during a Fertilizer Review […]
Military Courts Granted Conditional Authority to Deliver Reserved Judgments
The Supreme Court of Pakistan has conditionally allowed military courts to deliver their reserved judgments, subject to specific conditions. Chaired by Justice Aminuddin Khan, a six-member bench presided over a hearing on intra-court appeals regarding civilian trials in military courts. Justices Muhammad Ali Mazhar, Hasan Azhar Rizvi, Shahid Waheed, Musarrat Hilali, and Irfan Saadat Khan […]
Pakistan Ministry Warns of $60B Petroleum Import Bill by 2044, Advances Iran-Pakistan Gas Pipeline Despite US Concerns
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 […]
Pakistan Faces Amnesty International Backlash as Baloch Long March Ends Amid Harassment Allegations
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 […]
CEO of Pakistan’s Software Exports Board Removed Over Security Concerns
The Pakistan government has ousted Syed Ali Raza from his position as the chief executive officer (CEO) of the Pakistan Software Export Board (PSEB) due to his failure to secure security clearance from relevant law enforcement agencies. Raza, appointed by the Pakistan Democratic Movement government in April, led the PSEB, which focuses on fostering the […]
Oil Giant Shell Exits Pakistan After 75 Years
Shell Plc has formally conveyed to the Pakistan Stock Exchange (PSX) that it has decided to exit Pakistan and sell its 77.42 percent shares to Saudi Arabian Wafi Energy LLC. Shell Petroleum Company Limited, a subsidiary of Shell plc, has agreed to sell its majority interest in Shell Pakistan Limited (SPL) to this Saudi company, […]
Chinese Firms’ Withdrawal Dents Pakistan Steel Mills Privatization
Amid a substantial downturn in Chinese investment in the China-Pakistan Economic Corridor (CPEC), several major Chinese companies have withdrawn from the proposed acquisition and investment in state-run Pakistan Steel Mills. The decision marks a setback for the privatization of this largest non-functional 19,000-acre industrial facility. Before ceasing its operations in June 2015, the facility was […]
Pakistan Halts Auto Parts Import Quotas for Japanese Carmakers Over Policy Violations, No Licenses Revoked
Pakistan’s has ceased the revalidation of the auto parts imports quota of three Japanese carmakers Toyota, Honda and Suzuki for violating the requirements of auto policy 2021-26. No license has been suspended. They policy calls for localization of vehicles while these companies are importing over 75 percent from japan including engines. Besides, the policy has […]
Pak Suzuki Motor Company to Delist from Pakistan Stock Exchange
The Board of Directors (BoD) of Pak Suzuki Motor Company (PSMC) announced its decision to acquire all outstanding shares of the company and delist from the Pakistan Stock Exchange (PSX), as disclosed in a notice issued to the bourse on Thursday. The decision, made during a BoD meeting of the Suzuki motors, follows the PSX […]
Icebreaking Meeting: Caretaker Minister and PTI Leader Discuss Upcoming Elections
In a significant development in Pakistani politics, Caretaker Information Minister Murtaza Solangi reached PTI’s senior central leader Shafqat Mahmood and for the first time convened a meeting to address pressing concerns within the ‘Pakistan political landscape’. The primary objective was to foster a consensus regarding the forthcoming general elections and mitigate the ongoing political tension. The […]
Sawiris Mulls $7bn Investment in Reko Diq; Saudi Arabia Wants to Be Partner
Naveed Ahmed Following Saudi Arabia, Egyptian tycoon Naguib Sawiris, a luminary in the realms of telecommunications and gold mining, is also considering a substantial investment in Pakistan’s Reko Diq Copper Gold project. As far as the volume of foreign investment is concerned, Sawiris wants to invest $7 billion. He wants to expand his business footprint […]
Pakistan Removes Senior Officer for Seeking Permission to Join Hamas in Gaza
Pakistani Senior police officer removed from his post for wanting to join Hamas during Gaza violence. He pledged 10% of his salary to aid Palestine. Pakistan condemns “genocide” in Gaza; Foreign Minister Jalil Abbasi Jillani concerned about Israeli attacks and blockade.
Pakistan Hosts 14-Nation Indus Shield 2023 Air Warfare Exercise
Pakistan and over a dozen other countries are taking part in the mega Air Warfare Exercise, Indus Shield 2023. Pakistan Air Force (PAF) is hosting this 14-nation air exercise, at an operational air base of PAF. As one of the mega aerial warfare exercises of the region, it is marked as a significant milestone in […]
World Bank Vows Comprehensive Template to Boost Pakistan’s Power Reform
World Bank while pledging its support for Pakistan’s ongoing power sector reform efforts, promised to deliver a comprehensive privatization template to Islamabad next week, with the aim of expediting the privatization process for the Power Distribution Companies (DISCOs). Simon Stolp, South Asia Practice Manager for Energy at the World Bank, and his team met with […]
China’s “Chang’e 6” Moon Mission to Carry Pakistani Satellite
The Moon Mission Will Carry Payloads from Pakistan, ESA, France, and Italy. It includes Radioactive Gas Testing Instruments and CubeSat Satellite. China’s Moon mission “Chang’e-6” which is to be launched in the first half of next year will carry a Pakistani satellite to the moon, the China National Space Administration (CNSA) has announced. On its […]
Pakistan Hikes Liquefied Petroleum Gas Prices by 8.7% in Response to Saudi Aramco’s Action
Pakistan has implemented an 8.7% increase in liquefied petroleum gas (LPG) prices for October 2023, equivalent to Rs20.86 per kilogram, affecting both domestic and commercial consumers. The new pricing, effective from October 1, 2023, establishes a rate of Rs3,080 for an 11.8 kg cylinder. This move represents the third consecutive month of LPG price hikes. […]
Pakistan and GCC Sign Historic Free Trade Agreement
Pakistan and the GCC signed this historic free trade agreement after negotiations in Riyadh. The FTA, the first by the GCC since 2009, symbolizes a significant step in economic cooperation. Pakistan and the Gulf Cooperation Council (GCC) signed a free trade agreement (FTA) on Friday, marking a significant development following the conclusion of the final […]
Bomb Blast Claims 52 Lives at Prophet Muhammad’s Birthday Rally in Pakistan
In southwestern Pakistan, a powerful bomb struck a mosque during a rally celebrating Prophet Muhammad’s birthday, resulting in a tragic toll of over 50 dead and nearly 70 injured in a devastating terrorist attack. The devastating event unfolded in Mastung, Baluchistan province, where a large crowd had gathered for the Eid Miladun Nabi procession. Victims […]
U.S. Response to Pakistan’s Request for Waiver on Iran-Pakistan Gas Pipeline Sparks Concern
Iran’s recent rejection of Pakistan’s Force Majeure notice adds uncertainty to the gas pipeline project, compounded by Islamabad’s challenge of navigating US sanctions on Iran, potentially resulting in an $18 billion penalty from Iran. The United States’ response to the Pakistani government’s request for a waiver on its long-stalled Iran-Pakistan gas pipeline is causing concern, […]
Pakistan’s Energy Sector Battles $17.5B Circular Debt Crisis, Endangers Economy
This Debt is Three Times Higher Than Pakistan’s Defense Budget And is Increasing. Islamabad Considers Private Management of State-Owned Power Companies for Up to 25 Years Pakistan’s energy sector faces an imposing challenge as its circular debt has ballooned to a staggering figure, nearing US$17.5 billion. This sum is nearly double the combined budget allocations […]