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[ ISLAMABAD: Pakistan’s power sector has once again come under the spotlight after a federal audit report on the accounts of distribution companies (DISCOs) for audit year 2024-25 (financial year 2023-24) revealed that they failed to recover an extraordinary Rs480.6 billion from consumers. The report identifies chronic inefficiencies, lapses in governance and lack of enforcement … Read more
Adele fans were left baffled this week when a strange post appeared on her Instagram: rapper Future holding the Freebandz emblem, accompanied by a jumbled string of characters. But the oddity wasn’t limited to the singer, her account was one of many affected by what appears to be a mass hacking incident. Reports confirmed that … Read more
ISLAMABAD: President Asif Ali Zardari on Friday constituted the 11th National Finance Commission to finalise a new resource distribution award, paving the way for a fresh showdown as the Centre seeks to win back lost fiscal space while the provinces prepare to hold their ground. In pursuance of Clause (1) of Article 160 of the … Read more
[ ISLAMABAD: The government has operationalised 17 sectoral councils to design policies and improve competitiveness across Pakistan’s manufacturing and services sectors. Rana Ihsaan Afzal Khan, Coordinator to the Prime Minister on Commerce and Industry, said the Ministry of Commerce has launched a broad reform initiative, with nine councils dedicated to manufacturing and eight to services, … Read more
[ KARACHI: The State Bank of Pakistan (SBP) injected a staggering Rs1.4 trillion into the financial system on Friday through dual open market operations, using both conventional and Shariah-compliant instruments to manage the huge liquidity demand. In the conventional reverse repo operation, the SBP injected Rs1.037 trillion against total offers of Rs1.150 trillion. The central … Read more
PARIS: A new instalment in Chinese action saga “Black Myth”, a long-awaited indie favourite and stereotypically French cosplay have all marked the vast Gamescom trade fair this week in Cologne, which draws more than 300,000 people each year to the city on the Rhine. This year’s fair was dotted with some fascinating events, including video … Read more
[ ISLAMABAD: The Asian Development Bank (ADB) will fund upgrades to part of Pakistan’s railway system, replacing China, after prolonged delays in securing financing from Beijing threatened to put a strain on a strategic mining project, two sources said on Friday. An extensive revamp of 1,800 -kilometres of railways has been the centrepiece of a … Read more
ISLAMABAD: Reko Diq Mining Company is set to achieve financial close on the back of about $6 billion in indicative commitments, almost double the requirement. The package includes at least half a billion dollars in assurances by the United States. Of the $6 billion in commitments, two multilateral lenders, the Asian Development Bank (ADB) and … Read more
[ The Asian Development Bank will fund upgrades to part of Pakistan’s creaking railway system, replacing China, after prolonged delays in securing financing from Beijing threatened to put a strain on a strategic mining project, two sources said on Friday. An extensive revamp of 1,800 km of railways has been the centrepiece of a $60 billion … Read more
ISLAMABAD: The National Assembly Standing Committee on Economic Affairs has proposed removing the Lyari Elevated Freight Corridor Project from the Public-Private Partnership (PPP) mode and including it in the Public Sector Development Programme (PSDP). On Friday, officials from the National Highway Authority (NHA) informed the committee that the project was originally to be completed at … Read more
