A consortium of 15 banks has agreed to lend the federal government Rs 1,272 billion to help eliminate further piling up of circular debt in the power sector. According to details, the consortium is prepared to provide the loan at an interest rate 0.9% lower than the market rate. The …
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The Punjab School Education Department has formally requested the commencement of summer vacations from June 1st, in line with the annual academic calendar. A summary proposing the start of vacations from June 1st has already been sent to the Chief Minister, Maryam Nawaz Sharif. Secretary for Education, Khalid Nazir Wattoo, …
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A hearing was held at the National Electric Power Regulatory Authority (NEPRA) regarding K-Electric’s request to recover Rs 76 billion from electricity consumers in Karachi. The hearing was chaired by NEPRA Chairman, Waseem Mukhtar. K-Electric submitted a request for an additional write-off claim of Rs 8.13 billion. With the inclusion …
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The Competition Commission of Pakistan (CCP) has cracked down on Nishat Hyundai Motors, slapping the auto giant with a Rs 25 million penalty for deceptive marketing tactics during the much-hyped 2020 launch of its Hyundai Tucson SUV. The CCP launched an investigation after Hyundai’s big Facebook Live event where it …
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Federal Finance Minister Muhammad Aurangzeb expressed his optimism over the recent developments in Pakistan’s economic landscape, stating that it is a very encouraging sign that the country has returned to a B-minus credit rating. He emphasized that the economic stability achieved thus far must now be carried forward. While speaking …
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Governor of the State Bank of Pakistan, Jameel Ahmad Khan, stated that the disbursement of the next tranche of the IMF loan may face delays due to the ongoing two-week Spring Meetings of the International Monetary Fund (IMF) in Washington. Addressing an event held in connection with Pakistan Financial Literacy …
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The two countries this week signed an agreement at the 2025 Pakistan Minerals Investment Forum in Islamabad to jointly bid on 40 offshore blocks. A bidding round for the granting of exploration licenses for the blocks, located in the Makran and Indus basins, was announced by the Pakistan government in …
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Finance Minister Muhammad Aurangzeb has emphasized that industrialists and traders play a vital role in the country’s development, asserting that the ultimate goal is to benefit the common man. He stated that once Pakistan achieves self-sustainability, the current loan program from the International Monetary Fund (IMF) will be the last. …
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The current government has assured the International Monetary Fund (IMF) that it will reduce the circular debt in the gas and electricity sectors to zero by the end of this year. As of January 2025, the circular debt in the power sector stood at Rs 2,444 billion, while in the …
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Federal Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, chaired a high-level stakeholder consultative meeting today, bringing together leading figures from Pakistan’s top brands, private sector, industry, and branding experts. The purpose of the meeting was to develop a unified strategy for building a strong national brand for Pakistan, …
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