A delegation from BYD Company Limited, a prominent Chinese conglomerate, recently engaged in discussions with Dr. Sohail Rajput, the Secretary of the Board of Investment (BOI) in Pakistan.
The International Monetary Fund (IMF) has urged Pakistan to implement another increase in gas prices, adding to the recent adjustment in natural gas sale prices earlier this month, according to reliable sources. The demand arises from concerns about the growing circular debt in the power sector, currently reaching 4 percent of the Gross Domestic Product (GDP). Initial targets for reducing this debt have reportedly not been met. The IMF recommends raising gas prices further and limiting energy sector subsidies to address the issue, aligning with previous demands. Additionally, Pakistan and the IMF collaborate on a privatization plan targeting state-owned entities incurring significant losses. This strategic move aims to address financial challenges and involves transferring control of power distribution companies to the private sector, aligning with the IMF’s call for comprehensive reforms in the energy sector.
On Wednesday, the Pakistan Stock Exchange (PSX) maintained a bullish trend as the 100-index gained 827.17 points, a positive change of 1.44%, closing at 58,198.76 points compared to the previous day’s 57,371.59 points.
On Wednesday, the cryptocurrency market underwent a downturn, marked by a 3.26% decrease in the value of Bitcoin, settling at $36,343.
Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, has reached a settlement with US authorities following allegations that the platform failed to prevent money laundering.
QNET, a global lifestyle and wellness-focused direct-selling company, in collaboration with its esteemed Pakistani agency, Parwaz, proudly reaffirms its commitment to supporting crucial healthcare initiatives and community welfare in Pakistan through its contributions to the Indus Hospital and Health Network.
Lahore (Nov-2023) TPL Maps, a prominent leader in mapping and location-based services, is excited to introduce its Reseller Program, a strategic initiative designed to create compelling business opportunities for partners seeking to resell TPL Maps’ innovative mapping solutions.
The Securities and Exchange Commission of Pakistan (SECP) has issued a directive instructing all companies to abstain from entering agreements or contracts with surrogate entities that originally operate as gambling, betting, and casino companies.
Regal Motors celebrates the official launch of its operations, marking a noteworthy achievement in the automotive landscape of Pakistan.
Kia Lucky Motors has unveiled a compelling initiative aimed at expanding its customer base and enhancing sales for the Kia Picanto hatchback.
The enduring Suzuki Cultus, a renowned hatchback from the country’s oldest car assembler, has undergone various updates and generations, maintaining a substantial market presence.
The Pakistani rupee maintained its stability against the US dollar in the open market on Sunday.
