Month: May 2022

oliticians and bureaucrats have shown mixed view over the fate of the National Accountability Bureau (NAB), as some suggest its abolition while other recommend necessary amendments to the law to ensure transparency in the accountability process. Some senior government functionaries and a number of federal ministers have closed ranks for the abolition of NAB over its alleged use to intimidate bureaucracy, victimise political opponents and harass the business community. However, a group of top officials and cabinet members opposed shelving the graft buster and recommend to make amendment to the…

Read More

Azad Jammu and Kashmir (AJK) has the potential to generate 9,000MW of hydroelectric power that will end load-shedding in Pakistan and benefit its businesses and industries, said AJK President Barrister Sultan Mehmood Chaudhry. Addressing the business community at Islamabad Chamber of Commerce and Industry (ICCI) on Monday, he said that the region has huge potential for joint ventures and investment in many sectors including hydropower generation, precious stones, gems and jewellery and tourism. Chaudhry invited the business community of Islamabad to capitalise on those opportunities for achieving lucrative outcomes and…

Read More

Committed to making Karachi’s future more clean and green, K-Electric has renovated yet another park in the city. Located in the densely populated area of Nazimabad, Tanveer Shaheed Park had remained in an unusable condition for years, which will now provide a recreational facility toaround1,000 households in the vicinity. This development initiative was carried out under Project Sarbulandi and as a token of appreciation to the consumers for their support towards making the campaign a tremendous success in their area. Inaugurated by Barrister Murtaza Wahab, Administrator Karachi, and Adviser to…

Read More

Saudi Arabia is close to finalizing the extension of its $3 billion deposit in the State Bank of Pakistan (SBP), Reuters has reported. “We are currently finalizing extending the $3 billion deposit to Pakistan,” the news agency quoted the Saudi Minister of Finance Mohammed al-Jadaan as saying. The minister, however, offered no further details. Govt Likely to Set Economic Growth Target at 5% for FY23Last year, Saudi Arabia deposited $3 billion in the State Bank of Pakistan to help support its foreign reserves. In addition, Pakistan had also signed an…

Read More

The electricity shortfall in the country has reached beyond 6,500 megawatts (MW) after sources in the power division blamed it on a shortage in fuel supply to power plants. According to sources in the power division, the overall demand for electricity in the country stands at 26,000 MW against the production of 19,420 MW. “The power plants are not getting required LNG and coal,” they said, adding that LNG deals have been finalized, however, the payment needs to be made in dollars and the supply is being delayed owing to…

Read More