The government of Pakistan has ended the monopoly of Sui gas companies on gas sales. The Petroleum Division has introduced a new framework that allows private sector companies to purchase gas from Exploration and Production (E&P) companies. This policy is expected to bring significant changes to the country’s gas sector. Key Features of the New…
The World Bank recently pointed out a major flaw in Pakistan’s Uraan Pakistan plan. The report highlighted that the plan lacks clear sectoral strategies to address the country’s economic challenges. This is a critical concern, as detailed sectoral plans are essential for sustainable economic growth. Missing Sectoral Strategies The World Bank emphasized that while the…
In 2024, Pakistan faced severe financial losses due to frequent internet shutdowns and social media restrictions. The country reported the highest global financial losses from these disruptions, amounting to $1.62 billion. Given Pakistan’s already fragile economy, these losses are significant. Causes of Internet Shutdowns Internet shutdowns in Pakistan started in 2022 after Prime Minister Imran…
VEON has appointed Aamir Ibrahim and Evgeniy Nastradin to its Group Executive Committee (GEC), effective January 1, 2025. Aamir Ibrahim is the CEO of Jazz and Chair of Mobilink Bank in Pakistan, while Evgeniy Nastradin is the CEO of Beeline Kazakhstan. They will continue in their current roles as country CEOs. New Appointments to the…
Pakistan has agreed to a ten-year plan with the World Bank that will provide the country with $20 billion in loans. This deal aims to support Pakistan’s economy, which has been facing serious financial challenges for several years. The country is already under a $7 billion bailout from the International Monetary Fund (IMF). Why is…
Pakistan’s Petroleum Minister Musadik Malik shared that Saudi Manara Minerals could invest in the Reko Diq mine in the next two quarters. This announcement came during the Future Minerals Forum in Riyadh. Key Details Factor Details Company Manara Minerals Investment Reko Diq Mine Timeline Next two quarters Manara’s Economic Role in Saudi Arabia Manara is…
ENGRO Corporation Limited (ENGRO) has announced that it will be delisted from the Pakistan Stock Exchange (PSX), effective January 14, 2025. This decision is part of an agreement between ENGRO and Engro Holdings Limited (ENGROH), which was previously known as Dawood Hercules Corporation Limited. Let’s break this down step by step, in simple language, to…
Pakistan has been facing severe financial challenges, with rising unemployment, inflation, and growing poverty. However, a significant discovery of gold reserves could potentially help in the country’s economic revival. The following provides a detailed overview of Pakistan’s current economic situation and the groundbreaking discovery of gold. Unemployment Rate and Economic Struggles Over the past decade,…
The Federal Board of Revenue (FBR) is set to purchase over 1,000 Honda City cars for an estimated cost of Rs. 6 billion. This purchase has raised some questions about government spending, as the vehicles will be bought using taxpayer money. Below, we will break down the key details of this purchase in simple terms….
Pakistan is preparing to enter the Chinese capital markets by issuing Panda bonds, a step aimed at strengthening the country’s finances. This initiative, led by Finance Minister Muhammad Aurangzeb, is part of a broader strategy to improve economic stability. Let’s explore this move and its implications for Pakistan’s economic future. What Are Panda Bonds? Panda…
