The board of directors of Amreli Steels Ltd (ASL) has decided to temporarily suspend operations at its oldest Karachi-based manufacturing facility, Site Rolling Mills (SRM), due to the uncertain economic and political situation. In a stock filing on Tuesday, ASL said that the SRM represents 30pc of the company’s total production capacity. The situation will be reviewed in six months, and the
In an apparent message to local banks, Finance Minister Muhammad Aurangzeb has said the government will now “borrow at its terms”. In his virtual address to an interactive session on the China-Pakistan Economic Corridor (CPEC) on Tuesday, Mr Aurangzeb said the government wanted to “send a clear message that it is not desperate to borrow”. Even if the government needs to borrow, it will do so
Commerce Minister Jam Kamal Khan announced on Tuesday that Pakistan and Belarus have agreed in principle to sign a Memorandum of Understanding (MoU) on the Trade Road Map 2025-27. The finalisation of the MoU will take place after Prime Minister Shehbaz Sharif’s upcoming visit to Belarus, followed by a reciprocal visit by Belarusian leadership. Addressing a joint press conference with Belarusia
China has agreed to assist Pakistan in completing four major projects in the transportation and communications sectors. Minister for Privatisation and Communications Abdul Aleem Khan discussed this collaboration with China’s Minister for Transport Li Xiapeng in Beijing on Tuesday, who expressed keen interest in joint ventures and working together on these important projects. According to the
K-Electric on Tuesday declared a Canadian renewable energy firm — JCM Power — as the lowest bidder for offering Rs8.9189 per unit average tariff for a 220-megawatt hybrid wind-solar project at Dhabeji, Sindh. “With Rs8.9189 per unit, JCM Power has emerged as the bidder with the lowest proposed tariff, establishing a new precedent in the country’s renewable space”, the KE said. The actual bid