Day: April 11, 2021

PIA has announced its financial results for FY 2020 as it submitted audited accounts with the Stock Exchange of Pakistan. What has been termed as one of the worst year in decades for the global aviation industry whereby even largest players in the market have obtained huge bailout packages from their respective governments to stay afloat, PIA came up with a noteworthy performance, nearly breaking even on operational losses and reducing its overall losses by 33.7%. According to the airline’s audited financial results for the year 2020, PIA reduced its…

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LAHORE: The PTI government’s strategy to cap the flow — or the addition of new stock — of the power sector’s circular debt in the next two years has ‘too many variables and moving parts’, which need to be implemented concurrently for the success of the proposed plan. The government has formulated the Circular Debt Management Plan with the assistance of the World Bank as a prior action for the resumption of the IMF’s $6 billion facility. But the plan has not yet been shared with the public even though…

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A delegation of Russian businessmen led by Sergey Savchuk, CEO, CC RusWelding called on Board of Investment (BOI) Chairman Atif Bokhari to discuss investment opportunities in Pakistan. The delegation briefed about their projects related to water desalination and conversion of solid waste to energy, which they intend on setting up in Karachi. They also spoke about developing an engineering center & said the company is exploring Public-Private Partnerships and EPC ventures. The delegation was briefed about various incentives offered to enterprises in Special Economic Zones (SEZs) and encouraged them to…

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