Global travel began in the mid-19th century with transatlantic seafaring. The British industry leader, Cunard, carried immigrants from Europe to the US close to the 20th century. It emerged as the largest Atlantic passenger line, successfully capturing the flourishing North Atlantic travel market. The advent of commercial jets brought a tragic end to the golden era of ocean travel. While many o
Petroleum dealers will meet Minister of State for Petroleum Musadik Malik on Monday (today) for an agreement on increasing their profit margin. The dealers are seeking a bigger share in the petroleum revenue and had threatened to shut petrol stations across the country if their demands are not met. On Friday, the strike was deferred for two days after a meeting between the Pakistan Petroleum
The World Bank has extended the closing date of the Sindh Solar Energy Project (SSEP) from September 2023 to July 2025 since the implementation of the project approved in 2022 remained unsatisfactory. The project has been significantly delayed for several reasons, including a two-year delay in appointing a full-time Project Management Unit (PMU), the impact of Covid-19, the 2022 floods and th
A business ecosystem facilitates the growth and prosperity of firms by providing access to finance and an efficient value chain. Its objective is to ensure fair benefits across sectors, preventing undue advantage for any one sector at the expense of others. However, the current business ecosystem in Pakistan primarily favours feudal, urban elites, and semi-government corporations. Pakistan’s ec
Describing the failed four-year Extended Fund Facility (EFF) as a “missed opportunity”, the IMF blamed both the PTI and PDM, particularly under the economic stewardship of Shaukat Tarin and Ishaq Dar, for irresponsible budgetary expansion and exchange rate interventions, respectively. The IMF staff report released after the signing of the $3 billion Standby Arrangement detailed step-wise ‘sto