Pakistan's largest fertiliser manufacturing plant, Engro's EnVen, has resumed production after a 55-day turnaround costing $50 million, coinciding with the ongoing wheat sowing season. The plant, with an installed production capacity of 1.3 million tonnes, returns to operation, but this will not offset the expensive import of urea as the government has approved importing 100,000 tonnes to maintain
he government has decided to shut down and privatise certain institutions attached to the Ministry of Information Technology & Telecommunication as part of its federal rightsizing programme. Sources report that the Ministry of Information Technology has issued directions to this effect. Previously, there were discussions about closing the IT ministry entirely, but telecom companies opposed this
Federal Minister for Maritime Affairs Qaiser Ahmed Sheikh has announced that he will leave for Denmark this month to sign an MoU with Maersk, a renowned European shipping giant, which intends to invest $2 billion. "Maersk will start investing from October 2024 in numerous areas including infrastructure, terminals, warehousing, shipbreaking, etc, which will make Karachi a transshipment hub," he
The government, on Monday, deferred a decision on the privatisation of the National Bank of Pakistan (NBP) due to a legal obstacle. This move contradicts an earlier commitment made to the International Monetary Fund (IMF) to remove the special status of seven government-owned firms, including the NBP. Last month, Pakistan assured the IMF that it would withdraw the special status of these seven
At a time when the Shehbaz Sharif government is struggling to make a strategic shift from imported coal for electricity generation to Thar coal, the recent National Electric Power Regulatory Authority (Nepra) decision to revise upwards the total project cost and tariff of the proposed 300 megawatt Gwadar power project based on imported coal is quite surprising. The proposed shift from imported