Day: February 6, 2024

Senate Committee Banned export of Minerals$10 bn Worth of Minerals & Marbles Can Be Exported . FPCCI

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Karachi: Atif Ikram Sheikh, President FPCCI, has strongly opposed the proposed ban on raw minerals and marble as approved by Senate Standing Committee on Commerce; and, which includes both metallic and non-metallic minerals. This is contradictory to the vision of Special Investment Facilitation Council (SIFC), which has made mines and minerals as one of their only five focus areas, he added. Atif Ikram Sheikh categorically mentioned that Pakistan can easily reach a level of $10 billion in exports in minerals and marble, if a facilitative and incentivizing regime for the…

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Pakistan’s largest biogas plant unveiled in Lahore

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Will generate 16,000 kilogrammes of organic fertilizer daily Chief Minister Punjab Mohsin Naqvi inaugurated the biggest biogas plant of Pakistan at Gujjar Colony in Lahore. CM launched the compressed biogas plant production by pushing a button. MohsinNaqvi after unveiling the plaque, put his signatures on the inaugural plaque and wrote down date as well. MohsinNaqvi also planted a sapling in the biogas plant complex. 6 hundred metres gas can be produced in the biogas plant daily. 1600 kg dung will be used in the biogas plant daily. 16000 kg organic…

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Pakistan’s Electoral Process: How National Elections Shape the Country’s Parliamentary Democracy

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Here’s an overview of how national elections work in the country:• Pakistan operates under a parliamentary system, where elections are held for seats in both the federal legislature, known as the National Assembly, and the provincial legislatures.• Approximately 128 million eligible Pakistani voters out of a population of 241 million have the opportunity to cast their ballots, provided they are above 18 years of age.• On election day, voters select two representatives for their constituency: one for the federal legislature and another for the provincial legislature.• A substantial number of…

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IMF briefed about tariff, circular debt plans

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ISLAMABAD: The caretaker government’s team on Monday formally interacted with the International Monetary Fund (IMF) through a video call to seek the latter’s support for tariff rationalization and circular debt reduction plans, well-informed sources told Business Recorder. Both plans have been developed by two teams dedicated by the caretaker Minister for Power and Petroleum, Muhammad Ali, who intends to get IMF and Federal Cabinet nod, prior to end of the caretakers’ mandate. The sources said the IMF has sought some clarification from the caretaker government’s team, comprising Ministries of Finance and…

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Oil/gas sector in limelight as KSE-100 gains over 850 points

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The Pakistan Stock Exchange (PSX) saw interest in the oil and gas sector as the benchmark KSE-100 index gained over 850 points during trading on Tuesday. At 2pm, the benchmark index was hovering at the 63,855.95 level, an increase of 853.04 points or 1.35%. Index-heavy stocks including OGDC and PPL were trading in the positive, amid reported developments on the government’s circular debt plan. Business Recorder reported that the caretaker government’s team on Monday formally interacted with the International Monetary Fund (IMF) through a video call to seek the latter’s support for…

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