Following a botched attempt, the government has moved the privatisation of Pakistan International Airlines (PIA) to the second phase and will now focus on the sale of power distribution companies (Discos) on priority in the first phase, notwithstanding concerns over preparedness. This was officially conveyed to a group of executive directors of the World Bank currently visiting Pakistan to touc
A range-bound session marked trading at Pakistan Stock Exchange (PSX) on Thursday as investor sentiment remained mixed in the corporate earnings season. Though the KSE-100 index kicked off proceedings on a positive note, it closed with a loss of 361 points. The index touched the intra-day high of 113,477.71 earlier in the day, but the strength proved short-lived, with bears taking over control
The Ministry of Information Technology and Telecommunication (MoITT) through the Pakistan Software Export Board (PSEB) has established 43 Software Technology Parks (STPs) across the country, including in Tier-II and Tier-III cities. These parks host over 350 IT and IT-enabled Services (ITeS) companies, employing 18,000 professionals across a combined covered area of 1.9 million square feet. Not
A massive money laundering scandal has been unearthed in the import of solar panels that has shown over-invoicing of Rs69.5 billion between 2017 and 2022. Officials of the Federal Board of Revenue (FBR) disclosed this while giving a briefing to the sub-committee of the Senate Standing Committee on Finance in a meeting held under the chairmanship of Senator Mohsin Aziz. The solar panels were
As Punjab's anti-encroachment operation is ongoing in full swing, the mounting toll of demolished livelihoods is now compounded by a visible slump in economic activity across once-thriving markets, raising urgent questions about the balance between urban order and economic survival. Initiated under Punjab Chief Minister Maryam Nawaz Sharif's directives, the drive has cleared sidewalks, roads an
