Pakistan’s investment requirements for addressing its climate challenges are enormous, and then some. In its Country Climate and Development Report, the World Bank estimated that Pakistan — one of the world’s top 10 countries most affected by climate change — needs $348 billion to adequately address its climate challenges till 2030. This consists of $152bn (44 per cent) to support adaptation an
Millat Tractors Ltd (MTL) reported on Monday that its profit after tax surged almost three times to Rs10.63 billion in FY24 compared to Rs3.55bn in FY23. Revenue from contracts with customers rose to Rs95bn in FY24 from Rs47bn in the preceding year. According to Topline Securities, MTL did not announce a final cash dividend, falling short of industry expectations. This is due to the pending
The Senate Standing Committee on Information Technology and Telecommunications was informed on Monday that the operations of Long Distance and International (LDI) companies cannot be shut down because of their strategic importance. Briefing the committee, Pakistan Telecommunication Authority (PTA) Chairman retired Maj Gen Hafeezur Rehman said former IT secretary retired Captain Muhammad Mehmood
A new World Trade Organisation (WTO) report has stated that global commerce has played a critical role in reducing extreme poverty from 40pc to 11pc. Global trade has created “shared prosperity” since the WTO was created in 1995, the report said, while calling for supportive policies to “mainstream more economies” and people across the globe. The World Trade Report 2024, released on Monday,
The Competition Commission of Pakistan (CCP) has approved the acquisition of 11.9 per cent paid-up ordinary share capital of Sindh Engro Coal Mining Company (SECMC) Ltd by International Electric Power (Pvt) Ltd (IEPWR) under a Share Purchase Agreement (SPA). The IEPWR, established in March for this transaction, is jointly owned by Liberty Power Holding, Soorty Enterprises and Procon Engineeri