Displeased at the continued absence of the power minister and K-Electric’s chief executive from its meetings, a Senate panel on Tuesday sought a complete record of the original privatisation and subsequent changes to the shareholding structure of Karachi’s power utility and vowed to hold its management answerable to the city’s people. The committee, led by Senator Saifullah Abro, also unanimous
TPL Properties Ltd said on Tuesday it has come close to concluding a deal to acquire a mobile infrastructure company. The parent entity of a large telecom tower operator has “conditionally accepted” the offer that a consortium led by its subsidiary TPL REIT Management Company has made for the purchase of 10,500-plus cellular sites in Pakistan. Even though the official announcement didn’t men
Engineering firm Ados Pakistan Ltd is going to delist from the Pakistan Stock Exchange (PSX) on Jan 9 after the bourse accepted its request on Thursday for going private. Engaged in the supply of oil and gas field–related equipment, Ados grappled with “serious concerns” about its ability to continue its regular operations following low sales and “structural changes” in the energy exploration an
The World Bank approved on Tuesday $1.692 billion in financing for five projects to support people living in flood-affected areas of Sindh. Pakistan was lashed by unprecedented monsoon rains over the summer that put a third of the country underwater, damaged two million homes, and killed more than 1,700 people. Out of the projects announced by the World Bank today, three support rehabilitati
Domestic gold prices continued their record-breaking spree on Tuesday as one-tola and 10-gram rates hit an all-time high of 178,800 and Rs153,292 after gaining Rs3,900 and Rs3,344 respectively. According to the All Sindh Sarafa Jewellers Association (ASSJA), the price of the yellow metal in the international market jumped to $1,808 after an increase of $12. Gold prices have risen by Rs52,800