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News about Pakistan.
Unauthorized Payments Made to Shakil Ahmad Sheikh, Muhammad Haroon Rashid Dar, Najam Sethi, and Aizad Sayid The Pakistan Cricket Board (PCB) paid Rs 16.386 million in unauthorized meeting and daily allowances to members of its Board of Governors (BOG) and Management Committee during the 2022-23 fiscal year, an audit revealed. The payments exceeded the entitlements…
Pakistan Targets $25 Billion IT exports in Five Years Tech giant Google has announced plans to produce 500,000 Chromebooks in Pakistan by 2026. The announcement was marked by the presentation of the first locally manufactured Chromebook to Prime Minister Shehbaz Sharif during a ceremony on Thursday. At the “Agay Barho: A Google for Pakistan Event,”…
Pakistan has the lowest allocation for agriculture Research and Development (R&D) among South Asian Nations, allocating just 0.12 percent of its Agricultural GDP. With the lowest spending among the SAARC countries, Islamabad also facing challenges in securing international grants for this sector, noted the Senate Standing Committee on Food Security and Research on Wednesday. The…
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…
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’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 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…
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…
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,…
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’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…
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…
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…
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…
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 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 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…
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 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 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…