The World Bank (WB) has agreed to provide more than $3 billion to Pakistan for infrastructure development in the energy sector, according to a press release issued by the Power Division on Monday. The international lender will also provide assistance in the Dasu hydropower project. “The World Bank is assisting in energy efficiency and conservation programmes, apart from helping provinces in ins
Dewan Farooque Motors Ltd said on Monday it’s signed a technology transfer agreement with Kia Corporation of the Republic of Korea for the production/assembly of vehicles. The announcement resulted in an increase in the automaker’s stock by 2.24 per cent from the preceding day to Rs11.41, even though the company is on the exchange’s defaulter counter. The company made a net loss of Rs105 mil
A subsidiary of TPL REIT Management Company Ltd has received approval for a master plan to build a gated residential community on 40 acres in Korangi Creek at an estimated cost of “more than Rs200 billion”. The project will be built under the country’s first infrastructure-based real estate investment trust (REIT), which operates like any other property-owning company but offers more transparen
The business community representatives have claimed that Pakistan will soon have a 10-year extension in the GSP+ status starting from Jan 1, 2024 to December 2034, as the EU has agreed to do so. They have criticised the federal government and the Drug Regulatory Authority of Pakistan (DRAP) for allowing the import of finished products from China and India which is disastrous for the local pharm
The share of people paying for healthcare expenses on their own, or out of pocket (OOP) made up 52.8 percent of the total health expenditure in 2019-20, up slightly went from 51.7pc in 2017-18, the National Health Account estimates released on Monday indicated. Moreover, people spent more than the government on healthcare, around Rs775.412 billion, as against Rs468.228bn spent by the federal, p