Karachi: Minister for Maritime Affairs Ali Zaidi visited K-Electric’s Bin Qasim Power Station 3 (BQPS-III) on Monday and was apprised of the progress on the USD 650 million mega project which will add almost 900 MW of electricity to Karachi’s power supply. The meeting was also attended by the Chairman of Port Qasim Authority, Rear …
Category Archives: Business
SBP to issue a statement about policy rate today
KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is scheduled to announce the policy rate at 4:30 p.m. today (Monday). Due to the present economic scenario, experts predict that the interest rate will remain at 7%. SBP Governor Dr Reza Baqir stated in July’s policy statement that the policy rate …
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International Prices of dible Oil Hiked Local Costs of Ghee
KARACHI: The unpredictable worldwide prices of edible oil have driven up local costs of ghee/vegetable in the country, and a sliding scale is needed to link the pricing of ghee in local markets with the international markets, according to a senior government official. Finance and Revenue Minister Shaukat Tarin, who presided over a meeting of …
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Petrol prices are expected to increase
The prices of petroleum products are proposed to increase by Rs. 1 per liter and high speed diesel by Rs. 10 and a half. Kerosene can be as expensive as five and a half rupees, the final decision will be taken tomorrow on 15 September, in consultation with the Prime Minister. On the other hand, …
Gas supply to KE from SSGC will be disturbed between 14th to 17th Sep due to dry docking
Karachi: SSGC will be unable to provide sufficient quantity of gas to KE from 14th to 17th September. A KE Spokesperson has said, “In line with the information received from the SSGC, gas supply to KE will remain curtailed between 14 to 17 September 2021 due to dry docking. SSGC supplies KE around 190 MMCFD …
K-Electric announces Financial Results for FY 2021
Karachi: The Board of Directors of K-Electric Limited in its meeting held on September 10, 2021_at KE Head Office, approved the financial results for the year ended on 30 June 2021. During the period, driven by investments of around PKR 81 Billion across the power value chain supplemented by improved economic conditions and revival of …
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Minister for Industries and Production visits KE’s Bin Qasim Power Station 3
Karachi: Minister for Industries and Production Makhdum Khusro Bakhtyar today met with KE’s Senior Management at the company’s Bin Qasim Power Complex to review the progress on K-Electric’s mega-project Bin Qasim Power Station 3 (BQPS-III), which will add 900 MW to K-Electric’s generation capacity and bolster the future of Karachi’s growth. Equipped with state-of-the-art technology, …
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Stocks in the PSX-100 continued to fall
Karachi: Pakistani equities fell further on Tuesday, as investors remained concerned about the possibility of the Pakistan Stock Exchange (PSX) being included into the Morgan Stanley Capital International (MSCI) index. Today, MSCI will announce Pakistan’s reclassification from Emerging Markets (EM) to Frontier Markets (FM). On November 21, the semi-annual index review, the prospective reclassification is …
KE Teams work swiftly to restore power supply to Karachi
Karachi: KE teams remained active to restore power supply to Karachi following a tripping in the EHT transmission line which caused a disconnection between KE and NTDC circuits. This tripping was caused by a lightning strike on the NTDC’s 220 kV Jamshoro circuit. KE’s power plants continued to operate in island mode which enabled swift …
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Metro Commemorated Independence Day with Green Pakistan Campaign, Women Sports Festival
Lahore: As part of its Independence Day celebrations, METRO Pakistan, being a socially responsible corporate organization, joined the Government of Pakistan’s Green Pakistan initiative. The largest tree plantation campaign, by distributing tree saplings to its customers, in collaboration with The Trust School Lahore. METRO Pakistan believes that such initial steps will grow into larger actions …
Get a free ride to local vaccine centers with Mastercard and Uber
Karachi: Payment technology company Mastercard and ride-hailing service Uber are collaborating to help as many people as possible receive a vaccination during this critical time by offering free rides to people in Pakistan who would like to receive the COVID-19 vaccination. Riders will be able to avail two free rides, to and from dedicated public …
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MG Motors Introduces Latest Electric Vehicle MGZS in Pakistan
Karachi: MG Motors Pakistan has organized a test drive of MG’s modern electric vehicle MGZS in Karachi. A large number of citizens along with their families enjoyed the drive of the SUV with attractive design and modern technology. The test drive was arranged on the track of Omni Karting Circuit, PAF Colony Korangi Creek. Citizens …
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Emirates Business Rewards program celebrates small and medium sized businesses with limited time incentive
Karachi: To mark UN Small and Medium Enterprises Day and the vital role that they play in post-pandemic recovery, Emirates is empowering small and medium sized enterprises to get back into the skies and turn their travel budgets into rewards by debuting a Business Rewards incentive for new members who sign up for the program. …
PTA Renews Cellular NGMS Licenses of Three Operators in AJK & GB
Islamabad: The cellular license renewal ceremony for Azad Jammu & Kashmir and Gilgit Baltistan was held today at PTA Headquarters, Islamabad. Three Cellular Mobile Operators i.e. Telenor Pakistan, PMCL (Jazz) and PTML (Ufone) have deposited payment (50% of the PTA determined license fee) amounting to PKR 3.19 Billion against their license renewal fee with PTA. …
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Mobilink Microfinance Bank, CARE International Pakistan sign MoU to Strengthen Entrepreneurial and Financial Ecosystem
Karachi: Pakistan’s largest digital bank, Mobilink Microfinance Bank (MMBL) has joined forces with leading global humanitarian and development non-governmental organization, CARE International in Pakistan (CIP), through a recent Memorandum of Understanding (MoU), to foster financial inclusion for small and medium businesses, especially those led by women to support their sustainable development. President and CEO MMBL, …
Systems Limited wins Lahore Chamber of Commerce & Industry IT Award
Islamabad: Systems Limited humbly announced another winning moment. The Lahore Chamber of Commerce & Industry (LCCI) awarded Systems Limited with the President IT Award. The LCCI IT Awards were held at Aiwan-e-Sadr, Islamabad, and aims to appreciate the efforts of Pakistan’s information technology companies and their contributions towards the well-being of Pakistan’s economy. LCCI recognized …
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USD 50 million investment announced by CCI Pakistan for 7th Production Plant in meeting with PM
Karachi: A delegation of Coca-Cola Beverages Pakistan Limited (CCI Pakistan), GM Ahmet Kursad Ertin met with the Prime Minister of Pakistan and announced an investment of USD 50 million for a Greenfield project the company plans to set up in Haripur district, Khyber Pakhtunkhwa (KP). This will be CCI’s 7th production facility in the country. …
Govt has announced a national agriculture emergency program which is a welcoming step: Waheed Ahmed
Karachi: The Federal Government has announced the budget stating that it would support the farmers by providing pesticides, fertilizers and agricultural machinery with a view to modernize and uplift the agriculture sector. All Pakistan Fruit and Vegetable exporters importers and merchant association Patron-In-Chief Waheed Ahmed said in his statement that the GoP has acknowledged that …
Careem partners with TOTAL PARCO to provide its Captains with speedy mobility solutions
Karachi: Careem, the Super App for the greater Middle East and Pakistan and Total PARCO Pakistan Limited (TPPL), signed an agreement to provide its Captains with TPPL’s mobility-related solutions at special discounts. Through this partnership, Careem Captains receive a flat discount on purchase of TPPL’s fuels, lubricants and other services like car wash, oil change …
Pakistan to receive loan from IMF to retire debts in FY22
Islamabad: In the coming fiscal year, the government intends to borrow roughly $16 billion in gross foreign loans to cover maturing external public debt and finance the budget deficit. According to Ministry of Finance sources, the expected $15.7 billion borrowings in fiscal year 2021-22 are roughly 10% higher than this year’s revised estimates of foreign …
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Moonis Alvi expressed gratitude to Hammad Azhar’s intervention in power situation of Karachi
Karachi: KE CEO Mr. Moonis Alvi expressed sincere gratitude to Minister for Energy, Hammad Azhar, for his vision & commitment to people of Karachi and especially for timely and kind intervention to address power situation challenges in the city. The Minister also acknowledged prompt payment by KE for additional power. The Minister was apprised by …
International Maritime Organisation certifies Byco’s Oil Spill Response Team
Karachi: The International Maritime Organization (IMO)has certified Byco’s Oill Spill Response (OSR) team for achieving Level II & III professional training and certification. Byco is the only Pakistani oil company having a dedicated Oil Spill Response team capable of managing oil spills, whose members are IMO certified. Mr. Azfar Saeed Baig, Vice President, Byco Petroleum …
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SAPM Malik Amin Aslam Inaugurated Reverse Vending Machine for plastic recycling in Pakistan
Islamabad: In the presence of Mr. Malik Amin Aslam, Prime Minister’s special assistant on Climate Change unveiled a first of its kind Reverse Vending Machine (RVM) for plastics at the Jinnah Super Market, Islamabad. The machine makes it convenient and rewarding for people to recycle on the go. Plastic bottles of any brand can use …