Category: Shortcode

Pakistan Businesses Forum (PBF) has demanded from the Power Division to notify the revised tariff of Rs 13 per unit on tube wells in the preview of recent announced Prime Minister Agriculture package, adding yet notification in this regard has not been issued and relief is not being passed towards the farmers from the Discos PBF Vice President/ CEO Ahmad Jawad said Economic Coordination Committee (ECC) of the cabinet on Monday approved ‘Prime Minister’s agriculture package, with little impact on the budget, but deferred a decision on providing subsidised electricity…

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The counsel for the Balochistan government on Tuesday informed a five-judge Supreme Court bench, headed by Chief Justice Umar Ata Bandial, that the presidential reference regarding the Reko Diq agreement was maintainable because it was a matter of public interest. Lawyer Salahudin Ahmed also informed the bench that despite elaborating dire consequences, a three-judge bench of the apex court led by then chief justice Iftikhar Muhammad Chaudhry did not stop the proceeding and declared the Reko Diq deal as void in 2013 which became the cause of $10 billion award…

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History traced back 2000 years ago shows Pakistani and Chinese scholars, monks and businessmen followed the ancient Silk Road and crossed Karakoram Mountains to carry out cultural exchanges and trade. Pakistan is one of the first countries to participate in the Belt and Road Initiative. CPEC, a landmark project of “BRI”, has gradually shown practical results in Pakistan in the past 10 years since its launch in 2013. The article “Pakistanis Perceive China as “Their Best Friend” published by the US “Diplomat” in October 2022, more than 1,200 Pakistanis participated…

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Private Power & Infrastructure Board (PPIB) is reportedly in trouble after an arbitration award by Multilateral Investment Guarantee Agency (MIGA) in M/s Star Hydro Power case, in light of a document signed in 1986 by the then Economic Affairs Minister, well informed sources in PPIB told Business Recorder. Finance Division, sources said, has shared a letter which indicates a briefing note from MIGA for alternate MIGA Director for Pakistan on June 17, 2022, wherein MIGA provided breach of contract to Korea Water Resources Corporation and Daewoo Engineering and Construction Company, the…

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The government may likely adjust the prices of petroleum products in petroleum levy (PL) which the government committed with the IMF to increase each month. Sources in the petroleum sector said for the ex-refinery, the pricing trend is slightly negative: around Rs1.6 per litre on petrol and Rs3 per litre on high-speed diesel (HSD). “However this price is without any exchange rate loss adjustment and there is some Rs4 per litre adjustment expected in HSD price, as the government skipped the adjustment last time”, sources said. For consumers, last time…

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