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Articles for tag: DRIVE, hails, IMF, landmark, Pakistans, PIA, privatization, reform

January 11, 2026

News Desk

IMF hails PIA privatization as ‘landmark’ in Pakistan’s reform drive

The representational image shows a PIA plane taking off. — PIA/Archive The IMF says the privatization is in line with the core EFF commitment of $7 billion. Arif Habib-led consortium buys 75% stake for Rs 135 billion. Losses of state-owned enterprises reached Rs 122.9 billion in FY2024-25, according to cabinet data. KARACHI: The International Monetary Fund (IMF) has welcomed the privatization of Pakistan International Airlines (PIA), describing the sale as a milestone in Pakistan’s effort to reduce state involvement in commercial sectors, The News he said, citing Arab News. In a statement provided to Arab News on Saturday, Mahir Binici,

January 8, 2026

News Desk

Hyderabad confirmed as seventh PSL team in landmark auction

PCB chairman Mohsin Naqvi (left) and FKS owner Fawad Sarwar at the auction for the two new PSL teams at the Jinnah Convention Center in Islamabad on January 8, 2026. — PSL ISLAMABAD: FKS Group on Thursday bagged one of the two new Pakistan Super League (PSL) franchises after successfully bidding Rs1.75 billion in the league’s expansion auction. All 10 eligible bidders competed fiercely, submitting huge bids for the new team. The Fawad Sarwar-owned company emerged as the winner by bidding Rs 1.75 billion, successfully leading the auction and taking the helm of the new franchise. This marks the second

October 24, 2025

News Desk

Apple loses landmark UK court ruling

The Apple logo is displayed at the Apple store at The Marche Saint Germain in Paris, France, July 15, 2020. PHOTO: REUTERS LONDON: Apple abused its dominant position by charging unfair commissions to app developers, a London court ruled on Thursday after hearing the lawsuit brought on behalf of millions of iPhone and iPad users in the UK. The Competition Appeal Tribunal (CAT) ruled that Apple had abused its dominant position from October 2015 to the end of 2020 by foreclosing competition in the app distribution market and “charging excessive and unfair prices” as a commission to developers. The CAT

September 27, 2025

News Desk

Leghari says circular debt will be eliminated within six years after the ‘landmark funding agreement’

Federal Minister of Power Sardar Awais Ahmed Khan Leghari is addressed at a press conference in Islamabad, September 26th 2025 – Screengrab via YouTube/Geo News Debt increased from RS1.1TR to Rs2.28TR by 2022. Funding is secured by Kibor minus 0.9%. The increase Rs3.23 must be gradually removed. Islamabad: Federal Minister of Power Awais Leghari on Friday pledged that Pakistan’s circular debt crisis will be eliminated within six years in accordance with a landmark funding agreement with 18 banks, secured on favorable terms without adding any consumers. Facing a press conference, the minister strongly criticized the previous government for deteriorating the

July 24, 2025

News Desk

Britain and India to sign a landmark free trade pact during Modi’s visit

British Prime Minister Sir Keir Starmer is watching a bilateral meeting with Indian Prime Minister Narendra Modi in Rio de Janeiro of Brazil on November 18th 2024 – Reuters The agreement aims to increase bilateral trade by an additional £ 25.5 billion. Will be The United Kingdom’s largest agreement from leaving the EU. Both sides for the strategic cooperation of Melanis for defense, climate. London/New Delhi: Britain and India are expected to sign a free landmark agreement on Thursday during a visit by India Prime Minister Narendra Modi, sealing an agreement to reduce invoices in textile and whiskey products. The

May 25, 2025

News Desk

The government has 2,000 MW in the first phase for Bitcoin Mining and AI data centers in Landmark Digital Infrastructure Push

Listen to the article In an innovative move to turn Pakistan into a world leader into digital innovation, the Pakistani government announced the distribution of 2,000 Megawatts (MW) electricity in the first phase of a national initiative for Bitcoin power and AI. This ambitious initiative is a pioneer by the Pakistani encryption council (PCC)-a body backed by the government under the finance ministry-as part of a wider strategy for creating semantic electricity advantages, creates high-tech jobs, attracts high-tech jobs. Finance Minister Muhammad Aurangzeb said this strategic distribution marks a central moment in Pakistan’s digital transformation journey, unlocking the financial potential

January 14, 2025

News Desk

Pakistan, Bangladesh sign landmark agreement to set up joint business council

Listen to the article Pakistan and Bangladesh have signed a landmark agreement to establish a joint business council, marking a major step towards strengthening trade and economic cooperation between the two nations, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Tuesday. The agreement comes after years of complicated relations, with the two countries sharing a history dating back to when they were one entity, East and West Pakistan, until Bangladesh gained independence in 1971 after a liberation war supported by India. Relations had further soured in 2016 when Bangladesh executed several Jamaat-e-Islami leaders for alleged war

December 30, 2024

News Desk

A landmark year for Pakistan Stock Exchange

KARACHI: 2024 turned out to be a historic year for the Pakistan Stock Exchange (PSX), marked by unprecedented milestones and remarkable returns for investors. With record performances, the stock market not only achieved historical benchmarks but also rewarded investors with significant gains, culminating in a year of extraordinary success. During 2024, PSX set multiple records never before in its history. The year saw capital market investors receive an unprecedented 80% return on investment. For the first time, the market passed the 100,000 mark. However, this success came after years of challenges faced by investors, particularly during the Pakistan Tehreek-e-Insaf (PTI)

December 11, 2024

News Desk

Pakistan, Tajikistan sign landmark MoUs to strengthen bilateral cooperation

Energy Minister Awais Leghari and Tajikistan’s Minister of Energy and Water Resources Juma Daler Shofaqir co-chairing the seventh meeting of the Pakistan-Tajikistan Joint Commission in Islamabad, December 11, 2024. — PID The first Memorandum of Cooperation between KP, Khatlon, Tajikistan. Minister Leghari to set up transit trade committee. Hopes for speedy completion of CASA-1000 energy project. ISLAMABAD: Pakistan and Azerbaijan have pledged to enhance bilateral cooperation in many fields as both countries on Wednesday signed two landmark memoranda of understanding (MoUs) and protocols. Prime Minister Shehbaz Sharif visited Tajikistan in July this year, with several MoUs signed between the two

September 6, 2024

News Desk

Ronaldo’s landmark 900th goal secures victory for Portugal

Cristiano Ronaldo scored his 131st goal for Portugal and the 900th of his remarkable career, converting Nuno Mendes’s pinpoint cross at the Estadio da Luz on Thursday night during Portugal’s UEFA Nations League match against Croatia. The Al-Nasr striker showed visible emotion after the goal, although Diogo Dalot’s own goal in the seventh minute reduced Croatia’s deficit just before half-time. Ronaldo added to his 901 goals with the composure and skill that defined his career. After another assist from Mendes in Portugal’s UEFA Nations League clash with Croatia, Ronaldo was celebrated for his continued brilliance. Portugal won 2-1, but the

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