Ghani Chemical Industries Limited (GCIL) has announced the approval of a major restructuring initiative that includes the demerger of its Calcium Carbide Project and the merger of Ghani Products (Private) Limited (GPL) into GCIL. The decision, made during a board meeting held on September 16, 2024, is subject to approval from the Lahore High Court … Read more
ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved two acquisitions, reinforcing its commitment to promoting competition across sectors. The transactions involve M/s. International Paper Company acquiring M/s. DS Smith Plc, and M/s. Pakistan Pencils (Private) Limited acquiring M/s. YDE SA (SMC-Private) Limited. As per details shared by CCP, the M/s. International Paper Company, … Read more
An image showing a truck moving on a road in Khyber Pakhtunkhwa (KP). — Reuters/File ADB’s project to enhnce sustainable maintenance practices, safety. We are driving inclusive economic growth in KP, says ADB official. ADB to help govt conduct study on flood susceptibility: specialist. ISLAMABAD: The Asian Development Bank (ADB) has approved a $320 million … Read more
The Asian Development Bank (ADB) has approved a $320 million loan to support the rehabilitation of roads in the province of Khyber Pakhtunkhwa in Pakistan, enhancing safe and all-weather connectivity in rural areas. According to a press statement, the Khyber Pakhtunkhwa Rural Roads Development Project will upgrade around 900 kilometers of rural roads in the … Read more
The Competition Commission of Pakistan (CCP) has approved the merger between M/s. DWP Engineering Industries (Private) Limited and M/s. Digital World Pakistan (Private) Limited, as per the Scheme of Arrangement. According to a press statement, the CCP conducted a Phase-I competition assessment, reviewing the business activities of both entities. DWP Engineering Industries is a private … Read more
The Central Development Working Party (CDWP) approved a budget of Rs4,289.88 million, including a foreign exchange component (FEC) of Rs2,901.25 million, for the establishment of the National Center for Manufacturing. The project is set to be completed by June 30, 2027. Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal, who chaired the CDWP … Read more
ISLAMABAD: The Prime Minister’s Steering Committee for Gems and Stones has approved several key reforms aimed at promoting the sector during a meeting chaired by Federal Minister Abdul Aleem Khan, who also serves as the Chairman of the Steering Committee. The meeting was attended by federal ministers, secretaries, senior officials, and representatives from the private … Read more
The federal cabinet has approved the elimination of around 150,000 vacant posts in the government, along with amendments to the Army Act to provide a financial package for employees impacted by the government’s rightsizing efforts. The News reported, citing officials from the Cabinet Division, that the cabinet has endorsed the proposal previously greenlit by the … Read more
The Sindh Seed Council, in its 36th meeting, approved three cotton varieties for general cultivation in the province. Developed by the Central Cotton Research Institute (CCRI) Sakrand—a subsidiary of the Pakistan Central Cotton Committee (PCCC) Multan—the approved varieties include one non-BT cotton (CRIS 644) and two BT cotton varieties (CRIS 674 and CRIS 682). According … Read more
The National Electric Power Regulatory Authority (NEPRA) has allowed power distribution companies (DISCOs) and K-Electric (KE) to collect an additional Rs1.743 per unit from electricity consumers over the next three months, from September to November 2024. This increase aims to recover Rs43.23 billion through quarterly tariff adjustments for the fourth quarter of FY 2023-24, covering … Read more