The Indus Motor Company’s (IMC) board of directors has approved an additional investment of Rs 1.1 billion to further localise parts and components for its existing vehicle lineup. With this fresh investment, the total allocation for the localisation project has reached Rs4.1bn, the company said in a stock exchange filing on Monday. The company aims to complete this investment by the first quar
The Pakistan Telecommunication Authority (PTA) has started the second phase of blocking mobile SIMs to prevent their illegal use, its spokesperson said on Monday. In this phase, the SIMs of users whose national identity cards expired before 2017 and have not been renewed yet will be blocked. The spokesperson urged citizens to renew their ID cards to avoid their SIMs from being blocked. Earlier,
The government on Monday decided to keep three federal entities — Trading Corporation of Pakistan (TCP), Small and Medium Enterprise Development Authority (Smeda) and Pakistan National Shipping Corporation (PNSC) — in the public sector by declaring them as “essential state-owned enterprises (SOEs)”. The decision was made at a meeting of the Cabinet Committee on State-Owned Enterprises pr
The sharp decline in inflation during August has opened the door for a potential interest rate cut of up to 200 basis points, researchers and analysts said after Monday’s release of the latest inflation figures. The Consumer Price Index (CPI), which measures main inflation, dropped to 9.6pc in August from 11.1 per cent in July, creating an opportunity for the State Bank of Pakistan (SBP) to low
The Pakistan Telecommunication Authority (PTA) has received five proposals from international consultants to oversee the 5G spectrum auction in the country, with the process expected to be completed within the ongoing fiscal year. However, industry players have expressed concerns about the timing of the auction, questioning whether it is the right moment to proceed with the 5G rollout. In