Businessmen from all strata have welcomed the Uraan Pakistan initiative as a roadmap for reform and transformation, but cautioned that “the real challenge will be its implementation”. “The real challenge lies in its true implementation with a clearly defined action plan,” said M. Abdul Aleem, the CEO of the Overseas Investors Chambers of Commerce and Industry (OICCI)) on Thursday. He recalle
The fast erosion of foreign exchange reserves has made it doubtful for the State Bank of Pakistan (SBP) to reach the $13 billion target by the end of FY25. During the last two weeks, the SBP forex holdings witnessed an outflow of $371 million higher than the $300m loan United Bank Ltd arranged for the country recently. The central bank reported on Thursday that the reserves fell $143m to $11
The Senate Standing Committee on Industries and Production on Thursday proposed the installation of charging units for electric vehicles at every fuel station to promote eco-friendly transport. The committee chairman, Senator Aon Abbas, expressed concern over the regulatory mechanism of the new energy and renewal energy. “Who is controlling the prices of solar panels? And who is disrupting
The federal government has asked the governments of four provinces, Azad Jammu & Kashmir and Gilgit-Baltistan to implement building codes for energy conservation. This initiative applies to public sector projects, private commercial buildings, and housing structures. It also includes guidelines for restricting urban expansion to minimise energy losses and reduce the need for investments in powe
Pakistan Stock Exchange (PSX) on Wednesday started the new year on a strong note as it rose to a record high, driven by extensive buying that pushed the KSE-100 index up by nearly 1,900 points. The market's positive performance was powered by increasing confidence of local and institutional investors, which reflected their trust in Pakistan's economy. Besides, the rally came after monetary p