Pakistan, KSA sign 30 MoUs for skilled worker employment
The agreements aim to align vocational training with the needs of the Saudi labour market. Pakistan and Saudi Arabia have signed 30 Memoranda of Understanding (MoUs) to facilitate the employment of skilled Pakistani workers in various sectors within Saudi Arabia. The agreements were
VISA to Launch New Card in Pakistan to Boost Domestic Transactions
On the final day of his visit to Washington DC to participate in the Annual Meetings of the World Bank Group and IMF, Federal Minister for Finance and Revenue, Muhammad Aurangzeb, met with Andrew Torre, Regional President for VISA. He appreciated Visa’s commitment
Pakistan to Get $1.6 Billion From China for Karakoram Highway Project
Pakistan is close to finalizing a $1.6 billion financing agreement with China for upgrading the Thakot-Raikot section of the Karakoram Highway, sources familiar with the negotiations informed ProPakistani. The Finance Ministry, Planning Commission, and Economic Affairs Division are engaged in discussions with Chinese
NHA’s Annual Revenue Goes up to Rs. 110 Billion
The annual revenue of the National Highway Authority (NHA) has increased to Rs. 110 billion while revenue collection at toll plazas has also reached Rs. 64 billion. Federal Minister for Communications Abdul Aleem Khan highlighted this while presiding over a high-level meeting on
Pakistan Railways Seeks 130% Increase in Budget for Importing Over 1,000 Bogies
Pakistan Railways (PR) has requested a 130 percent increase in its budget from Rs. 31 billion to Rs. 71 billion for procuring 1,050 bogies. This request has faced strong objections from the Ministries of Finance and Planning when presented to the Central Development
Pakistan Likely to Secure $1.2 Billion Saudi Oil Facility in December
A high-level Saudi delegation will likely visit Pakistan by December 2024 to finalize the terms of a $1.2 billion oil facility. Saudi Arabia recently confirmed its willingness to support this new facility to help Pakistan secure International Monetary Fund (IMF) approval for a
PPL Profit Down 20% to Rs. 23.6 Billion in Q1 FY25
Pakistan Petroleum Limited (PPL) announced its 1QFY25 result today, where the company recorded earnings of Rs. 23.6 billion (EPS of Rs. 8.67), down 20 percent YoY while up 32 percent QoQ. Along with the results, the company also announced a cash dividend of
FBR Faces Revenue Shortfall of Rs. 90 Billion in October 2024
The Federal Board of Revenue (FBR) is expected to face a shortfall of Rs. 90 billion in October 2024, sources told ProPakistani. FBR sources said this month’s target is Rs. 980 billion which currently remains out of sight for the regulator. FBR already
Aurangzeb optimistic about swift finalisation of ADB’s Country Partnership Framework
Finance minister engages with key partners at IMF- World Bank meetings Finance Minister Muhammad Aurangzeb expressed hope that a Country Partnership Framework (CPF) of the Asian Development Bank (ADB) would be finalized soon. The remarks from Aurangzeb came during a meeting with Masatsugu
Pakistan-Russia trade sees 50pc hike last year: Matviyenko
The annual bilateral trade between Pakistan and Russia saw more than 50 percent increase last year, exceeding $ 1 billion, the highest ever between the two countries, a top Russian parliamentary official said on Monday. In the first eight months of the ongoing
