The Privatisation Commission has taken significant steps in advancing its reform agenda by initiating the process for the appointment of financial advisers for four power distribution companies and two power generation plants, while also receiving expressions of interest (EoIs) from eight parties seeking management control of Pakistan International Airlines Corporation Ltd (PIACL). These develo
The government has flagged a series of critical risks to next year’s budget and medium-term outlook, including slower than targeted GDP growth, inflation shocks, exchange rate volatility, lower revenue buoyancy, debt servicing costs, poor performance of state-owned entities (SOEs) and unexpected climatic and other natural disasters. In a written statement on fiscal risks placed before parliame
The stock market suffered mild losses on Tuesday as jittery investors opted to take profits amid rising geopolitical tensions in the Middle East. Ahsan Mehanti from Arif Habib Corporation reported that stocks closed lower due to a decline in global equities, driven by geopolitical uncertainty and the State Bank of Pakistan’s decision to maintain the key policy rate amid inflationary pressures f
TODAY it will be the third day of a line-by-line deliberation over the budget in both the National Assembly and the Senate committees, and the revenue plan brought by the government is sparking a justifiable pushback by the lawmakers. Nobody likes taxes, so any plan to raise taxes anywhere will raise objections. But some objections carry more merit than others. In this budget, the government is
Careem will suspend its ride-hailing service operations in Pakistan from July after nearly a decade in the industry, its CEO announced on Wednesday, adding that its journey in the country would continue “in a different role”. Mudassir Sheikha, Careem’s CEO and co-founder, shared a post on LinkedIn announcing “a new chapter” for the company. “It is with a heavy heart that I share this update: