Italian energy engineering group Saipem said on Sunday it had won an offshore contract worth $4 billion from QatarEnergy, one of the world’s top suppliers of liquefied natural gas (LNG). The contract will help boost production at QatarEnergy’s North Field offshore natural gas field, which lies off the northeastern coast of Qatar, Saipem added in … Read more
A seven-member panel has been formed by the Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal, to formulate a comprehensive policy framework for relocating Chinese industries to Pakistan. This move follows directives from the Prime Minister aimed at enhancing the country’s industrial collaboration under the China-Pakistan Economic Corridor (CPEC). As per media reports, the … Read more
The Power Division has temporarily shelved its plan to rationalize the net metering tariff system, citing public pressure following recent electricity tariff hikes. This decision comes despite earlier directives from the Prime Minister to finalize the reforms by multiple deadlines, most recently on September 30, 2024. According to a news report, the Power Division communicated … Read more
Bolan Castings Ltd. has announced the resumption of its production activities, effective September 18, 2024, after a brief suspension. The decision was communicated in a notification to the Pakistan Stock Exchange (PSX) on Monday, following an earlier disclosure on August 23, 2024, regarding the temporary halt. “Reference is made to our earlier disclosure dated August … Read more
Pakistan’s domestic auto industry might soon face a safety reckoning, as the government looks to enforce international standards without the crucial infrastructure to do so at home. Without a local testing facility, the Ministry of Science and Technology (MoST) is pushing for vehicles to be inspected overseas, a proposal that is rattling local automakers. For … Read more
The government has enforced the Essential Services Act for all employees of Pakistan’s power sector, including distribution companies (Discos), generation companies (Gencos), and the National Transmission and Dispatch Company (NTDC). According to a recent notification issued by the Interior Ministry, the act will remain in force for six months, starting from July 27, 2024. According … Read more
The Federal Board of Revenue (FBR) has announced plans to outsource the audits of high-net-worth individuals and companies to identify tax evaders and increase revenue collection. The move comes as part of a larger strategy to address a significant tax gap in the country’s economy. According to a news report, the FBR aims to hire … Read more
The Sui Southern Gas Company (SSGC) has appointed Muhammad Amin Rajput as the Acting Managing Director (MD) and Chief Executive Officer (CEO) for an interim period. According to the company’s filing on the Pakistan Stock Exchange (PSX) on Monday, this decision was made during a board meeting held on September 12, 2024. The announcement follows … Read more
A policeman walks past the Federal Board of Revenue (FBR) office building in Islamabad, Pakistan, on August 29, 2018. — Reuters FBR will hire audit firms for this purpose. Chairman to brief PM in coming few days. Top 5% wealthiest individuals to be audited. ISLAMABAD: In a bid to detect potential tax evaders, the Federal Board of Revenue … Read more
Among the sea of information released by Edward Snowden in his infamous data leaks, it emerged that the National Security Agency (NSA) of the United States considered Pakistan the second most surveilled nation in the world. This implies that Pakistanis are more susceptible to surveillance not just from their own government but also from right … Read more