ECC decided that the revision of the sale price/ tariff should be consistent with the revenue requirements of the Sui companies.

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The Federal Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar, presided over a meeting of the Cabinet's Economic Coordination Committee (ECC) today. The meeting was attended by the…

Continue ReadingECC decided that the revision of the sale price/ tariff should be consistent with the revenue requirements of the Sui companies.

State Bank of Pakistan suspends the authorization of three exchange companies

State Bank of Pakistan has suspended, with immediate effect, the authorization of the following Exchange Companies till further orders on account of serious violation of State Bank's regulations and instructions:…

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Metro Pakistan join hands with Sindh food authority for training on food safety and hygiene

METRO, the leading international wholesale company, in collaboration with the Sindh Food Authority (SFA), recently conducted a day-long training session titled 'Food Safety and Hygiene Training for Food Handlers' in…

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Pakistan Refinery seeks EPC and financing for its expansion project.

Pakistan Refinery Limited (PRL) intends to undertake a mega major Expansion and Upgrade Project at its existing Refinery, located in Karachi, Pakistan and seeks Solicitation of Interest (SOI) from Contractors…

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Mastercard expands its partnership with the Bank of Punjab to redefine digital payments for Pakistan’s commercial segment.

Mastercard and the Bank of Punjab (BOP) have expanded their partnership to cover the commercial segment, ranging from large corporate entities and Small and Medium Enterprises (SME) to freelancer and…

Continue ReadingMastercard expands its partnership with the Bank of Punjab to redefine digital payments for Pakistan’s commercial segment.

Zindigi and Popcorn Studio collaborates to transform co-working spaces across Pakistan

Zindigi, powered by JS Bank, announced a strategic alliance with Popcorn Studio, the foremost co-working space provider with 12 locations across Pakistan. Renowned for fostering thriving communities of freelancers, entrepreneurs,…

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PSX: CY24 elections, unforeseen results loosening the confidence

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 ·         PTI-backed independents won the most seats in Pakistan's 2024 elections, defying expectations and leading to a hung parliament. Coalition talks are ongoing, but the future government structure remains uncertain. ·         According…

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Learn360 LMS takes center stage at the prestigious EdTech Event #Bett2024 in London, UK.

Learn360, a leading Learning Management Systems (LMS) provider, made waves at the Bett 2024 education technology conference in London, UK, earlier this month. Learn360 showcased its award-winning platform to an…

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Railway cargo services must improve and expand: FPCCI

Mr Atif Ikram Sheikh, President of FPCCI, has demanded that Pakistan railways offer reliable, cost-effective and expanded cargo services to Pakistan’s business, industry and trade community from Karachi to upcountry, as Karachi is the country’s industrial and trade hub. He added that it has been a longstanding demand aimed at capitalising on the railway’s differential advantages over conventional trucks.

Mr. Atif Ikram Sheikh explained that rail-based cargo transportation is not only cost-effective but also has enormously high carrying capacity – making it the mode of choice for most of the developed countries where they have to cover long stretches of land in inter-city, inter-state or province and even intra-city destinations.

It is pertinent to note that the business community has held a detailed, consultative meeting with Mr Abdul Rasheed Solangi, Secretary of Industries & Commerce (I&C), Government of Sindh, over the goods transportation issues. Mr. Aman Paracha, VP of FPCCI, represented FPCCI’s President.

Mr. Atif Ikram Sheikh stressed that the road infrastructure from industrial areas to ports should be revamped as industries in Karachi suffer daily. Additionally, vendors supplying to major markets of industrial regions also face broken roads. Therefore, the transportation network in and around industrial areas needs immediate attention.

Mr Aman Paracha maintained that Karachi demands a proper, world-class road infrastructure to transport goods to the rest of the country. The Northern Bypass is a single-track highway connecting M – 9 and the rest of the country. We need multiple options that remain operational 24 / 7 to cater to the consumers’ needs in the country’s length and breadth, or Northern Bypass should be expanded at the earliest.

Mr Aman Paracha added that the government only allows 6 hours of cargo transportation in Karachi – and we need to have a 3 – 4 lane Northern Bypass to enable the goods to swiftly reach M – 9 through Northern Bypass within those 6 hours.

Mr Abdul Rasheed Solangi called upon the business community to install weight stations to implement the axle load regime effectively at the points of origin at all industrial zones. Industrialists updated the secretary I&C that weighing stations have already been installed, and they are cooperating with the authorities. Nonetheless, now it is the government’s turn to facilitate good transportation. (more…)

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