In a strategic move to bolster Pakistan’s renewable energy sector, the Special Investment Facilitation Council (SIFC) has announced its facilitation for a groundbreaking initiative taken by Sinotec Solar Private Limited. The endeavour entails the installation of a colossal three-gigawatt solar panel manufacturing plant in the heart of Karachi, PTV reported on Monday. The project, set to revo
The Minister for Finance and Revenue, Muhammad Aurangzeb, met with Country Director of the World Bank Najy Benhassine, and Country Manager of the International Finance Corporation (IFC) Zeeshan Ahmed Sheikh to discuss collaborative development strategies and initiatives aimed at promoting economic growth, enhancing financial stability, and fostering sustainable development within the country. D
The government, on Monday, greenlit the acquisition of a hefty $500 million loan from the Asian Development Bank (ADB) aimed at fostering an ‘enabling environment to attract private investment’. This strategy, while addressing immediate fiscal requirements, is also driving Pakistan further into the debt trap. The Central Development Working Party (CDWP) endorsed the “concept proposal” for the $
Extending the overnight losses, the Pakistan Stock Exchange (PSX) remained under selling pressure dragging the benchmark KSE 100-share index below the 67,000 level on Monday. Ahsan Mehanti of Arif Habib Corporation said a slowdown in GDP growth to 1pc in the second quarter of the current fiscal year compared to 2.2pc in the same period last year worried investors who resorted to taking profits
When tracing Pakistan’s progress, a predominantly agricultural country, we see that it transformed into a semi-industrialised economy, which then ushered in import-oriented and debt-driven growth with an increasingly vulnerable external sector. Stressing the need to accelerate export-led growth, Finance Minister Muhammed Aurangzeb said that import-led subsidised businesses were no longer sustai