The cabinet has given the go-ahead for signing revised agreements with eight bagasse-based independent power producers (IPPs), owned by the ruling elite and political barons. According to the revised agreements, the IPPs will reduce their working capital component of tariff by 50% with effect from October 31, 2024. These agreements are estimated to lead to savings of Rs238 billion when opera
Pakistan Horticulture Development and Export Company (PHDEC) conducted a webinar on "Good Agricultural Practices of Olive for High Yield and Good Quality". Pakistan, which has a large area of land suitable for growing olive trees, has been producing olive since 2010. Currently, it produces about 861 tons of table olive per year, all of which is consumed domestically. Pakistan has set a targe
Meezan Bank customers are facing a surge in unauthorised transactions, with reports circulating on social media about debit and credit cards being charged on various websites without consent. In response, Meezan Bank has issued a customer advisory, advising them to avoid untrusted websites, refrain from using public Wi-Fi for banking transactions, and remain vigilant against phishing attempts.
Pakistan has taken a $300 million commercial loan at interest rates ranging from 7.2% to 7.7% - the first new non-Chinese financing facility in years, which will help meet external financing requirements of the International Monetary Fund (IMF) programme. Government sources said that the country had taken a foreign source-based loan from United Bank Limited (UBL). The bank has arranged the faci
Equities fell like ninepins on heightened nervousness amid rising political noise and missile programme-related US sanctions on Pakistani companies, sending investors rushing off to dump stocks and book profit for the third straight session on Thursday, inflicting an unprecedented single-day loss to the benchmark KSE 100 index. In contrast to the global market performance, the local bourse witn