The board of directors of Siemens Pakistan Engineering Ltd (SPEL) has approved the sale and transfer of the company’s energy business segment to a non-affiliated Siemens Gamesa Renewable Energy (Pvt) Ltd for approximately Rs17.8 billion. In a stock filing on Monday, SPEL said the net book value of energy business as at valuation date was approximately Rs17.61bn. Adhi field goes operational M
The business community hopes the Shanghai Cooperation Organisation (SCO) Summit, starting in the capital on Tuesday, may boost the country’s economy. “The event offers Pakistan an opportunity to strengthen its trade and economic ties with key international partners, particularly China. The summit will also send a clear message to global investors about the country’s openness to busines
The government has extended the deadline for filing income tax returns for the tax year 2024 until October 31, providing an opportunity for those who did not file their returns before October 14. The previous deadline was October 14, but banks in Islamabad and Rawalpindi were closed for three days, causing issues for taxpayers who completed their returns, Federal Board of Revenue Chairman
The government is preparing a transformation plan for all public sector universities to become self-sustainable corporate entities. This plan aims to free up public resources for investment in compulsory and elementary education, based on the advice of international lending agencies. Informed sources told Dawn that the Ministry of Finance has engaged with relevant stakeholders — the Higher Educ
Russia, which chairs the Brics group this year, has called on its partners to create an alternative to the International Monetary Fund (IMF) to counter political pressure from Western nations ahead of the Brics summit later this month. Russian Finance Minister Anton Siluanov, who is hosting the meeting, said the global financial system is controlled by Western countries and that the group, whic