Claiming over Rs1.1 trillion in savings in revised contracts with existing independent power producers (IPPs), the government on Thursday announced a series of major decisions for reducing electricity rates, including the rejection of about 10,000MW of upcoming IPPs for being expensive and unaffordable. Speaking at a seminar on hydroelectric power in Islamabad, Power Minister Awais Leghari emph
South Korea’s Trade Minister Inkyo Cheong has outlined an ambitious plan to relocate Korea’s industrial base from its Northeast Asian neighbours to Pakistan following the signing of the Economic Partnership Agreement (EPA) between the two countries. The disclosure came during a high-level ceremony held on Thursday in Seoul where Commerce Minister Jam Kamal Khan and the Korean minister signed a
The Ministry of Finance has issued a calendar for preparing and presenting the federal budget 2025-26 and asked all the ministries, divisions, departments and government entities to submit their expenditure demands by Feb 6 and anticipated savings during the current fiscal year. According to the budget calendar and budget call circular issued to all the stakeholders, the federal budget is targe
Intense selling pressure gripped Pakistan Stock Exchange (PSX) on Wednesday as the benchmark KSE-100 index dived around 1,900 points, driven by profit-booking at higher valuations. Prime Minister Shehbaz Sharif visited the PSX, which gave initial boost to the stock exchange. However, he did not announce any immediate relief measures, putting a dent on investor confidence. Although trading st
Experts at a public-private dialogue stressed the need for resilient internet infrastructure to achieve Pakistan's ambitious IT export targets, highlighting modern technology and alternative connectivity options as key enablers. The Sustainable Development Policy Institute (SDPI) hosted its 69th Study Group on Information Technology and Telecommunication under the theme 'Preserving the Lifeline