The National Assembly Standing Committee on IT and Telecom was informed on Tuesday that two companies have applied to provide satellite internet services in Pakistan, and the relevant space regulator is examining their requests. Briefing the committee, Pakistan Telecom Authority Chairman retired Maj Gen Hafeezur Rehman said that Starlink had applied for an operating licence in 2022, while Shang
The State Bank of Pakistan (SBP) purchased about $3.8 billion from banks in the first four months of the current fiscal year to improve its foreign exchange reserves and repay some foreign debt. Bankers said the unexpectedly higher remittances provided enough liquidity in the inter-bank market, encouraging the central bank to buy dollars. “Between June and October 2024, the SBP’s net foreign
Iran’s President Masoud Pezeshkian urged Opec members to unite against possible US sanctions on the major oil producer, after US President Donald Trump said he would seek to drive Tehran’s oil exports to zero. Iranian crude oil exports currently stand at around 1.5 million barrels per day, with the majority going to China. The loss of such a volume, equal to about 1.4pc of total world supply, w
Pakistan’s exports to five central Asian countries (CACs) contracted 17 per cent during the first half of 2024-25. The country’s exports to the region have yet to attain their full potential. Similarly, imports from Kazakhstan, Tajikistan and Uzbekistan to Pakistan have increased significantly despite regular high-profile visits to balance the trade deficit. In absolute terms, the value of P
Pakistan and Turkiye are expected to sign multiple memoranda of understanding to expand economic cooperation, including the agriculture sector, during the upcoming visit of President Tayyip Erdogan to Pakistan. Senior officials of the ministries of national food security and agriculture of Pakistan and Turkiye held a meeting on Wednesday to design an action plan for future collaborations in the