Day: December 24, 2025

Arif Habib Consortium Wins PIA Privatisation Bid with Rs135bn Offer

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PIA-Airlines

ISLAMABAD: The Arif Habib consortium on Tuesday emerged as the successful bidder for Pakistan International Airlines Corporation Ltd (PIACL) after offering Rs135 billion in a competitive open auction, marking Pakistan’s first major privatisation in nearly two decades. The bidding process began with three pre-qualified bidders — Lucky Cement, Airblue and the Arif Habib consortium. Airblue exited after the first round, submitting a bid of Rs26.5bn, below the government’s reference price of Rs100bn. In the initial round, Lucky Cement bid Rs101.5bn, while Arif Habib led with Rs115bn. Following a short break,…

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IFC Makes First Local Currency Investment in Pakistan to Support Agriculture

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New-IFC

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has announced its first-ever local currency investment in Pakistan, aimed at strengthening the country’s agriculture sector and food security. In a statement issued on Tuesday, the IFC said it would provide an unfunded partial credit guarantee of up to Rs33.6 billion to support long-term Pakistani rupee financing from Standard Chartered Bank Pakistan Limited to Engro Fertilisers Limited. The initiative marks IFC’s maiden rupee-denominated investment in the country and is designed to expand access to long-term local…

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China Challenges India’s Solar and IT Trade Measures at WTO

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India-China

GENEVA: China has formally lodged a complaint against India at the World Trade Organisation (WTO), contesting New Delhi’s trade measures related to solar cells, solar modules and information technology products. According to the WTO, Beijing has requested the initiation of dispute consultations, alleging that India’s policies violate international trade rules. The complaint, dated December 19 and circulated among WTO members on Tuesday, targets subsidies provided to India’s solar sector and tariffs imposed on various IT products, including mobile phones and equipment used in the manufacturing of flat-screen display devices. China…

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