KARACHI: Chairman National Assembly Standing Committee on Industries and Production Syed Hafeezuddin directed the management of Pakistan Steel Mills (PSM) to speed up its recovery efforts and resolve outstanding issues to minimize further losses. is During his visit to PSM on Wednesday, Hafeezuddin highlighted major concerns, including non-payment of dues of retirees and retired employees,…

The National Assembly’s Standing Committee on Industries and Production on Wednesday expressed dissatisfaction over the Ministry of Industries and Production’s failure to implement the minimum wage of Rs 37,000 across the country. The committee, chaired by MNA Syed Hafeezuddin, was convened in the Pakistan Steel Mills conference room to address important issues including wage enforcement…

Pakistan and China have signed defense equipment agreements during the Ideas 2024 exhibition which is currently in its third day at the Expo Center in Karachi. A number of international companies have participated in signing agreements and memoranda of understanding (MOUs). An MoU was signed between Pakistan’s Heavy Industries Taxila and China’s Norinco represented by…

ISLAMABAD: Local auto manufacturers have raised alarm over the proposed New Energy Vehicle (NEV) policy, fearing that it will lead to unrestricted import of completely built units (CBUs) at very low duty and sales tax rates. may allow They believe this could hurt local original equipment manufacturers (OEMs), disrupt parts suppliers and hamper the growth…

KARACHI: Bank financing for businesses in the private sector has reached 44 percent of deposits by October 25, 2024, up from 39 percent at the end of September. The government has approached the Supreme Court to overturn the Islamabad High Court’s (IHC) injunction against imposing an additional tax of 15 percent on banks that do…

Thatta Cement Company Limited has rejected the claims of sudden closure of the plant as baseless and false. The company issued a clarification on Thursday in response to statements made during a competitor corporate briefing session on November 20, 2024. In a notification issued to the Pakistan Stock Exchange (PSX), Thatta Cement clarified that it…

The government has rejected a proposal to cut electricity prices by about Rs 4 per unit, thereby increasing public debt through the retirement of Rs 1.8 trillion in revolving credit. This decision indicates the limited financial space available for substantial consumer relief. According to a news release, the Power Division had proposed to pay Rs…