The Special Investment Facilitation Committee (SIFC) has approved the establishment of Pakistan’s largest IT Park in the G-10 sector of the federal capital, covering an expansive area of 3.3 acres. This decision signifies a significant leap forward for Pakistan’s growing tech sector, offering unprecedented opportunities for innovation and advancement. Negotiations are underway with key stakehol
The federal government is set to provide preferential treatment to two domestic banks and is willing to take responsibility for their $88 million foreign currency lending to Pakistan International Airlines (PIA) without any restructuring. The handling of the foreign currency loan contrasts with the restructuring of PIA’s Rs243 billion domestic debt, which is being extended for 10 years at reduc
Firms in the telecom sector are worried that the acquisition of Telenor Pakistan by the Pakistan Telecommunication Ltd (PTCL) will harm their interests, the Competition Commission said on Monday. In what is believed to be one of the largest deals in the country’s telecom sector, the agreement will see Ufone merge with Telenor Pakistan, making the joint company a close rival of Jazz, the nation’
The policies of Pakistani commercial banks regarding the environment, social and governance (ESG) risk mitigation lack transparency and lack a tangible action plan, according to Fair Finance Pakistan. In a press release, the Pakistan chapter of Fair Finance International (FFI) — a civil society coalition campaigning for responsible banking practice — said financial institutions “are evolving” t
The increasing scale of smuggling of petroleum products has brought the country’s oil supply chain — from import to refineries and from marketing companies to pipeline transport network — to its knees. With a massive drop in registered sales, the country’s oil industry has sought emergent action from the prime minister and other state agencies to stop the smuggling of petroleum products that th