Category archives for: Business

$12 Billion Loan for Pakistan Approved by World Bank

the world bank

Pakistan Finance Ministry has announced on Friday May 2, 2014, that the World Bank has approved a $12 billion loan for Pakistan. The loan will be given to Pakistan over a period of five years. Pakistan will pay 2 per cent interest rate on the loan with repayment scheduled over a period of 30 years. […]

Railways Earn Profits after Years

It was recently reported from Lahore that the Pakistan Railways Minister, Khwaja Saad Rafique, has managed to fulfil his promise and now the department is profitable. According to sources, Khwaja Saad Rafique asked a certain amount of time and he has managed to turn things round within that span of time.   The Pakistan Railways […]

Karachi Flyover Still Unfinished; Irks Residents

flyover

It was recently reported from Karachi that the residents of Clifton are quite irritated with the fact that the flyover construction in the area is still not finished despite overdoing the expected time period.   The Sindh High Court decided to take a stay on the construction of two flyovers in the area, which means […]

World Bank Appreciates Finance Minister’s Vision for Pakistan

ishaq dar

It was recently reported from Islamabad that the World Bank recently wrote a letter to the Pakistani government where they stood by the stance which is currently being taken by the finance minister of Pakistan. The current Finance Minister, Ishaq Dar, is trying his best to get Pakistan back on level pegging in terms of […]

Pakistan to hold road show to lure Turkish investors in Power Sector

Meeting with DDG of Turkish State Hydraulic Works

Turkey and Pakistan have agreed to form a technical working group in the energy sector in order to chart out ways for close collaboration in the energy sector. Secretary of the Ministry of Water & Power Mr. Saif Ullah Chatta who was leading a three-member delegation discussed this during his meetings with Turkish officials at […]

ZonG Wins the Most Coveted 3G and 4G Licenses

Zong Wins 3G 4G license

Pakistan Telecommunications Authority awards Pakistan’s 1st and the only 4G license to ZonG after a successful auction process  Zong has now become the only 3G and 4G operator in Pakistan. Thriving on this success the company will soon offer a complete new array of first of its kind services to its distinguished customers. ZonG’s parent […]

PTCL Receives Best HR Practices Award

PTCL

It was recently reported from Karachi that Pakistan Telecommunication Company Limited (PTCL) has been presented with the Best HR Practices Award in the telecom sector of the country. This award was given to them at the 4th Global HR Excellence Awards which took place in Karachi. These awards recognized several organizations and highlighted events and […]

Ministry of Water & Power for Reviewing Upfront Tariff for Coal-based Plants

It was recently reported from Islamabad that the Ministry of Water and Power came out in the open to state that the government had earlier provided Upfront Tariff for energy projects based on coal. They expect these projects to generate cheap electricity. NEPRA has already announced a few projects in this regards. They have given […]

Reduction in Petroleum Prices Expected

Oil prices go down

Pakistan Oil and Gas Regulatory Authority (OGRA) has proposed revision in the petroleum product prices in Pakistan. The final deciosn will by made on the prices by the Finance Minister Ishaq Dar and Petroleum Minister Shahid Khaqan Abbasi. If approved, the revised prices will be effective from May 1, 2014. OGRA has asked for eduction […]

U.S. companies rectify and compensate the victims of Dhaka

Social organizations in the United States reach the first anniversary of the tragic collapse of a textile complex in Bangladesh with an ambivalent feeling: with its lobbying campaign garnered a first win, but they know that is ridiculous and they have yet a lot to accomplish. For 11 months U.S. companies receiving supplies from garment […]

Asian Development Bank and Pakistan sign $400m Loan Agreement

ADB

It was recently reported from Islamabad that the Asian Development Bank and Pakistan have signed a loan agreement of $400 million so that the power crisis in the country can be eradicated. Pakistan has been going through energy problems for quite some time now. The people of the country find it difficult to survive during […]

Local Tyre Smuggling Hits New Record

smuggled tyres

It was recently reported from Karachi that tyre smuggling has touched a record high as approximately 250 trucks loaded with tyres come across the Pak-Afghan border on a daily basis. Sources claim that the border takes up approximately 1 – 1.5% of the total value of goods which are loaded on the truck. This, in […]

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