Pakistan’s largest conglomerate Engro Corp, through its strategic partnership with Veon, is eyeing expanding telecom tower-sharing coverage in Pakistan and exploring different use cases in telecom infrastructure. “Pakistan is a very large market in terms of telecom, which keeps growing larger,” Samad Dawood, vice chairman of Dawood Hercules Corp, which owns 40 per cent of Engro Corp, told Reute
The federal government on Tuesday approved settlement agreements with eight independent power producers (IPPs) running on bagasse, aiming to reduce electricity tariffs and save around Rs240 billion for the national exchequer. The decision was made during a federal cabinet meeting chaired by Prime Minister Shehbaz Sharif. The approval followed recommendations from the Ministry of Energy’s power
Despite a month-on-month sales drop in November, car sales during 5MFY24 clocked in at 38,534 units, rising 50 per cent from 25,746 units a year ago. Sales of jeeps, vans and pickups, after facing a slight fall in November to 2,191 units from 2,551 in October, swelled by 55pc to 12,259 units in July-November from 7,891 units last year. According to data released by the Pakistan Automotive Ma
The Federal Board of Revenue (FBR) has established a Central Appraisement Unit (CAU) in Karachi to enhance the quality of assessment and ensure uniformity and transparency in the processing of Goods Declarations (GDs). The CAU is a key component of the customs reforms under Faceless Customs Assessment (FCA), aimed at modernising customs operations to lighten the workload of appraising officers
The Pakistan Textile Exporters Association (PTEA) has strongly condemned the government’s decision to discontinue gas supply to highly efficient captive power plants (CPPs) from Feb 1, 2025. PTEA Patron-in-Chief Khurram Mukhtar called the move a critical threat to the textile industry and a barrier to realising Pakistan’s full export potential, according to the association press release issued