The Asian Development Bank (ADB) will provide a $410 million financing package to help develop the Reko Diq copper mine, one of the world's largest untapped deposits, which will be operated by Barrick Gold, two sources said on Thursday. Pakistan hopes the project will serve as a springboard to draw more foreign interest to its mineral sector, particularly to exploit rare earth deposits. The cou
Pakistan stands on the edge of a $131 billion regional automobile trade corridor, where even a 5% share could yield $6.5 billion in annual exports — 70 times higher than current levels. With its strategic geography and a vendor base already validated by leading Japanese, Korean and European automakers, Pakistan has the ingredients to become a significant player. Yet, a new report warns that abrupt
The Auditor General of Pakistan (AGP) has identified a record over Rs375 trillion worth of irregularities, financial mismanagement and loss of public money in the affairs of the federal government and departments and entities working under its control. The AGP expressed grave concern that only 13 per cent of public funds were directed towards the public good, raising significant questions about
With a five per cent decrease in power consumption in July over last year, the public sector distribution companies (Discos) have sought a Rs1.69 per unit refund for consumers due to lower fuel costs, driven by better hydrological conditions. If approved, the refund could amount to approximately Rs23 billion, which would be reflected in August bills. The National Electric Power Regulatory Au
With a five per cent decrease in power consumption in July over last year, the public sector distribution companies (Discos) have sought a Rs1.69 per unit refund for consumers due to lower fuel costs, driven by better hydrological conditions. If approved, the refund could amount to approximately Rs23 billion, which would be reflected in August bills. The National Electric Power Regulatory Au