Pakistani currency notched up fresh gains for the eighth consecutive working day on Monday, rising to a new five-month high at Rs278.12 against the US dollar in the inter-bank market in the wake of higher supply of the foreign currency compared to its demand. According to State Bank of Pakistan’s (SBP) data, the rupee inched up Rs0.02 on a day-on-day basis against the greenback. The currency
As one of the largest mergers in Pakistan’s telecom sector is underway, the Competition Commission of Pakistan (CCP) has said that the decision on acquisition of Telenor Pakistan by Pakistan Telecommunication Company Limited (PTCL) could be delayed as competitors have expressed concern over the plan. In a statement, the CCP said that a pre-merger application about PTCL’s intention to acquire 10
Secretary General of the Pakistan Automotive Manufacturers Association (PAMA), Abdul Waheed Khan has urged the government to support the local auto industry amid rising concerns over a significant increase in used car imports, which are negatively impacting the struggling automobile sector. According to import data, the influx of used vehicles has soared to 25,098 units, marking a staggering 64
The Special Investment Facilitation Committee (SIFC) has approved the establishment of Pakistan’s largest IT Park in the G-10 sector of the federal capital, covering an expansive area of 3.3 acres. This decision signifies a significant leap forward for Pakistan’s growing tech sector, offering unprecedented opportunities for innovation and advancement. Negotiations are underway with key stakehol
The federal government is set to provide preferential treatment to two domestic banks and is willing to take responsibility for their $88 million foreign currency lending to Pakistan International Airlines (PIA) without any restructuring. The handling of the foreign currency loan contrasts with the restructuring of PIA’s Rs243 billion domestic debt, which is being extended for 10 years at reduc