Category: bussines

ISLAMABAD: Pakistan and the Netherlands have signed a memorandum of understanding (MoU) to strengthen technical capacity and cooperation in water resources planning, development and management, following a high-level meeting in Islamabad on Tuesday. The MoU was signed between the Ministry of Water Resources and the IHE Delft Institute for Water Education during a 2–3 day official visit by a delegation from the Netherlands-based institute. The agreement focuses on capacity building of professionals from the ministry and its affiliated organisations in areas such as water resources planning, development and integrated management.…

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KARACHI/ISLAMABAD: Pakistani freelancers earned $557 million in foreign exchange during the first half of the current financial year 2025-26, underscoring their growing role in strengthening the country’s services exports and external accounts, according to official data released on Monday. Figures issued by the State Bank of Pakistan show that export receipts from computer and information services provided by freelancers rose sharply during July to December 2026, compared with $352 million earned in the same period of the previous financial year. The increase represents a 58% year-on-year growth. The data reflects…

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KARACHI: “The dollar is going to collapse. The dollar is going to be replaced by gold. Central banks are buying gold to back up their currencies. They are getting rid of dollars. They are getting rid of treasuries. We are headed for an economic crisis that will make the 2008 financial crisis look like a Sunday school picnic,” said Peter David Schiff, an American stockbroker and financial commentator, on a recent FoxNews show. Schiff’s assessment may sound stark, but this isn’t exaggeration. It isn’t doom-saying. It’s happening – now, in…

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ISLAMABAD: Finance Minister Muhammad Aurangzeb on Monday went on the back foot and blamed the media for “selective reading and reporting” of an official report on State-Owned Enterprises (SOEs), which disclosed that net cash returns by these entities dropped 91% and their net losses jumped 301%. Instead of addressing a press conference, the finance minister issued a recorded video in which Aurangzeb claimed there had been “selective interpretation, reporting and selective reading of the report, which is contrary to the facts”. But the finance minister did not quote a single…

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KARACHI: Pakistan’s stock market suffered heavy losses on Monday as the benchmark KSE-100 index plunged 5,150 points, weighed down by institutional selling as political uncertainty and disappointing corporate results dented investor confidence. In a show of extreme volatility, the index oscillated between the intra-day high of 179,969 and low of 173,574. The market saw broad-based weakness, which overshadowed buying activity and pulled the index deep into the red. The trading session was marked by aggressive liquidation, weak sentiment and external pressures that collectively put the bourse under pressure. The downturn…

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LAHORE: Every year, bumper harvests bring hope to farmers but also expose a costly weakness in the agriculture supply chain. Surplus vegetables, like potatoes and onions, often end up rotting in open markets or fields, reflecting not abundance but inefficiency. Farmer leaders say that without urgent reforms in storage and processing, such losses will continue to drain national wealth, while equally creating a surplus or a shortage sort of situation almost the entire year. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Committee on Food Convener Shahid Imran…

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ISLAMABAD: Parliamentarians and even government officials in the National Assembly Standing Committee on Industries and Production on Monday denounced the change in solar net metering policy by the National Electric Power Regulatory Authority (Nepra). The committee met under the chairmanship of Syed Hafeezuddin, who raised the issue of amendments to the net metering policy as the regulator has now shifted to net billing. “This policy amendment will have serious implications for the overall reputation of the government,” Hafeezuddin cautioned, adding “when the regulator can honour the commitments made to the…

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Gold and silver prices declined on Tuesday in both international and local markets. In the international bullion market, the price of gold fell by $90 per ounce to $4,920. Locally, the price of 24-carat gold per tola dropped by Rs9,000 to Rs514,762, while the price per 10 grams fell by Rs7,716 to Rs441,325. Similarly, silver prices fell, with the local rate per tola decreasing by Rs150 to Rs8,014 and per 10 grams dropping by Rs129 to Rs6,870. Spot gold dropped 1.5% to $4,918.65 per ounce by 0933 GMT after losing…

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ISLAMABAD: Chief Executive Officer (CEO) of the Engineering Development Board (EDB), Hamad Ali Mansoor, said that under the Prime Minister’s PAVE (Pakistan Accelerated Vehicle Electrification) Scheme, the process of providing electric bikes, rickshaws and loaders on easy instalments, along with subsidy payments, has commenced. The initiative aims to provide the public with affordable and environmentally friendly transportation while reducing the country’s dependence on fuel. Under the scheme, electric bikes are being offered a subsidy of up to Rs80,000, which is being directly transferred to the approved bank accounts of applicants…

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ISLAMABAD: Proton Pakistan has failed to return nearly Rs600 million to its customers after the carmaker could not deliver booked vehicles. This car brand is being sold in Pakistan by the Al-Haj Group, which also runs an oil and gas exploration company. Proton is a Malaysian automobile brand. Proton Pakistan, considered a competitor of Kia, MG and Hyundai, offers car models like Saga sedan, X50 and X70. The brand made its entry into Pakistan when Imran Khan was the prime minister. This group also made inroads into the oil and…

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