Category: Highlights

KARACHI: The Information technology (IT) exports surged to a record high of $303 million in December, up 17 percent month-on-month and 23 percent year-on-year, industry data showed on Wednesday. The IT exports in December were also higher than the last 12-month average of $222 million, reflecting the strong performance of the sector, brokerage Topline Securties said in a report. The jump in IT exports was attributed to two main factors: the relaxation of the permissible retention limit by the State Bank of Pakistan (SBP) for IT exporters, and the stable…

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ISLAMABAD: Private Power and Infrastructure Board (PPIB) has decided to conduct International Competitive Bidding (ICB) for an Independent Auction Administrator (IAA) for the 330 MW Thar coal power project for sale of electricity to K-Electric (KE) as a private power purchaser without GoP guarantee, official sources told Business Recorder. Sharing the details, sources said, M/s Siddiqsons Energy Limited (SEL), the developer of 330 MW Thar coal power project, was accorded eight extensions in Financial Closing (FC) date (last of which expired on December 31, 2021), through amendments to Letter of Support…

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In early hours of 18 January 2024, Pakistan carried out effective strikes against hideouts inside Iran used by terrorists responsible for recent attacks in Pakistan. The precision strikes were carried out using killer drones, rockets, loitering munitions and stand-off weapons. Maximum care was taken to avoid collateral damage. Hideouts used by terrorist organisations namely Balochistan Liberation Army and Balochistan Liberation Front were successfully struck in an intelligence based operation, code name ‘Marg Bar Sarmachar’. The targeted hideouts were being used by notorious terrorists including Dosta alias Chairman, Bajjar alias Soghat,…

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Karachi – In the wake of the recently concluded 6th Karachi International Water Conference, organized by Hisaar Foundation (HF) in association with Infra Zamin Pakistan and other partners, Pakistan has taken a significant leap by unveiling three essential initiatives aimed at addressing pressing water and climate challenges. The two-day conference, a testament to Hisaar Foundation’s persistent dedication to water-related issues in Pakistan served as a spark for these transformative endeavors, culminating in a Declaration that proposed the launch of these three initiatives, and within a month of the Conference, the…

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KARACHI: Chairman Karachi Port Trust (KPT) Syed Syedain Raza Zaidi, after listening to the grievances being faced by business community due to exorbitantly high and totally unjust charges, grilled Shipping Companies for terribly looting traders by overcharging under various headers without any justification.KPT will go very tough against the highhandedness of shipping companies, hence, they should submit details of their registration, license, relevant laws or any agreement within 10 days which authorized them to take excessively high charges, he added after representatives of shipping companies failed to defend their position…

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