Indus Motors Company (IMC), the maker of Toyota vehicles, has decided to shut down its production plant in the country from December 20-30, citing a delay in import approvals from the State Bank of Pakistan (SBP). In a letter addressed to the general manager of the Pakistan Stock Exchange, the IMC management said that the central bank had introduced a new mechanism for obtaining prior approval
Zong4G has initiated the tests of its digital nano-bank by the name of “PayMax” to become the last of all the four mobile service providers launching its fintech. The mobile based app — PayMax is likely to be launched in the first week of January, 2023, sources in the company said. Currently, Zone4G is Pakistan’s third largest mobile service provider with around more than 45 million subscrib
The Federal Investigation Agency’s Khyber Pakhtunkhwa Zone on Tuesday registered the province’s first-ever money laundering case over cryptocurrency transactions following an inquiry. However, the accused, Danyal Farooq of Nowshera district, wasn’t arrested until night. The FIR registered by the FIA revealed that an inquiry was launched against Danyal Farooq for maintaining 10 different bank
Prime Minister Shehbaz Sharif on Monday directed authorities concerned to take steps to reduce circular debt in the energy sector and decided to restrict market timings till 8pm to save energy. In a meeting chaired by the prime minister on energy sector, its participants considered adoption of a comprehensive strategy to control the present circular debt in oil and gas sectors. According t
The cost of fuel for electricity generation in November went down by more than one-third to Rs5.99 per unit from a month ago, according to data recently released by the National Electric Power Regulatory Authority. A 27.1pc reduction in the cost of coal-based electricity contributed to the overall drop of 33.6 per cent in the average fuel cost in November, according to Tahir Abbas, head of rese