NHA recommends to approve Kharian Rawalpindi Motorway

In a meeting presided by the chairman NHA Arshad Majeed Mohmand, theNational Highway Authority Executive Board recommended the PC-I for theapproval of CDWP (Central Development Working Party) for the construction ofKharian Rawalpindi Motorway at the revised cost of Rs 169.323 billion against theinitial PC-1 cost of Rs 108.41 billion i.e. increased by around 57 percent. […]

Three mergers approved by CCP in steel sector

Three mergers have been approved by the Competition Commission of Pakistan(CCP) associated with M/s Saudi Iron and Steel Company (Hadeed) having a holdin the Pakistan steel market. Hadeed is a very well known and well establishedSaudi company producing a wide range of steel products and trading in spot salesin the Pakistan steel market.The merger approval […]

Building Refinery and petrochemical Complex

Sinopec invited to collaborate with Aramco Pakistan State Oil (PSO) has reached out to M/s Sinopec, a leading Chinese energycompany, to join forces with Saudi Arabia’s Aramco in building an advancedrefinery and petrochemical complex within Pakistan.In a correspondence addressed to the President of Sinopec Corp, Yu Baocai, PSO’sManaging Director/CEO, Syed Muhammad Taha, expressed PSO’s eagerness […]

Economic Zones to be set up in tribal districts

Caretaker KP Minister for Industries, Commerce, Technical Education, and NewlyMerged Districts Affairs, Dr. Syed Amer Abdullah, has taken significant stepstowards the creation of economic zones (EZs) in the tribal districts of Kurram andSouth Waziristan. During a meeting held at the Civil Secretariat, various aspectsrelated to the establishment of these economic zones in tribal district werediscussed. […]

Korean company to invest in Mira Power Limited

In a significant development, the Competition Commission of Pakistan (CCP) hasgranted approval for a merger that will see increased international investment inPakistan’s hydropower industry. The transaction involves Korea-based M/s. DLE&C Co. Ltd (Acquirer) acquiring shares in M/s Mira Power Limited (MPL), thecompany Involved in operating the 102 MW Gulpur hydropower plant.M/s. DL E&C Co. Ltd […]

Rising Trends and Export Strategies in Pakistan’s IT and ITeS Sectors

The export earnings from IT and IT-enabled Services (ITeS), which encompass computerservices and call center services, rose by approximately 12.7 percent during the initial sevenmonths (July-January) of the fiscal year 2023-24, reaching $1.720 billion compared to $1.525billion in the corresponding period of the previous fiscal year. Official data reveals that ITeSexport earnings decreased by roughly […]

OGDCL discovers gas at Kharo-1 well, near Khairpur

OGDCL reports 2% decrease in profits

The Oil and Gas Development Company Limited (OGDCL) has reported a major gas condensaterecovery at the Kharo-1 well in the Khewari exploration license area, situated in DistrictKhairpur, Sindh province. OGDCL operates the Khewari Block, holding a 95 percent workinginterest, with Government Holding Private Limited (GHPL) as a joint venture partner with a 5.0percent working interest. […]

25th Gulf Engineering Forum Caps Off as a Resounding Success

The 25th Gulf Engineering Forum (GEF), held under the patronage of Sheikh Rashid bin Hamdan bin Rashid Al Maktoum, the Supreme President of the Hamdan bin Rashid Al Maktoum Foundation for Medical and Educational Sciences, concluded its two-day proceedings with great success on February 8, 2024, at the at the prestigious Al Ras Ballroom, InterContinental […]

Under the patronage and attendance of Sheikh Rashid bin Hamdan bin Rashid Al Maktoum

25th edition of the Gulf Engineering Forum kicks off in Dubai Dubai, UAE, 07 February 2024: Under the patronage and attendance of Sheikh Rashid bin Hamdanbin Rashid Al Maktoum, the Supreme President of the Hamdan bin Rashid Al Maktoum Foundationfor Medical and Educational Sciences, the 25th edition of the Gulf Engineering Forum and itsaccompanying exhibition […]

CDWP Recommends Three Projects Worth Rs136.660 Billion to ECNEC

In a recent development, the Central Development Working Party (CDWP) has putforward three significant projects valued at a total of Rs136.660 billion to theExecutive Committee of the National Economic Council (ECNEC) for furtherdeliberation.One of the highlighted projects is the “Expansion of 48MW Jagran HydropowerStation (Phase-II) in District Neelum, AJ&K (Revised)”. With a budget of Rs14.744billion, […]

MoC directs PSEs to procure domestic engineering goods

Ministry of Commerce (MoC) has had a meeting with the public sector entities (PSEs) and has directed to prefer the domestic companies for the procurement of engineering goods, in accordance with the Statutory Regulatory Order (SRO) 2019. The Ministry has been receiving letters and messages from various stakeholders, complaining that the public sector companies have […]

KP government officially inaugurates Chitral Economic Zone

The development work on Chitral Economic Zone has officially been completedalong with the inauguration of an advanced industrial facilitation office buildingaccording to the officials from the Khyber Pakhtunkhwa government. Thisachievement is being considered as a huge milestone in the journey towardsoverall industrial development. The inauguration ceremony took place at GangGhereth near Drosh in District Chitral. […]