companies
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CM Maryam invites Chinese tech companies to invest in Punjab
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Chief Minister Punjab Maryam Nawaz Sharif pictured while addressing the conference in Guangzhou. — Screengrab LAHORE: Punjab Chief Minister Maryam Nawaz Sharif, on the 6th day of her 8-day long visit to China, invited Chinese technology companies to invest in Punjab…
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How much did power companies cost the national exchequer in just one year? | The Express Tribune
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Listen to article KARACHI: Pakistan’s power distribution companies (DISCOs) have inflicted a staggering loss of over Rs196 billion on the national exchequer in just one year, according to the Auditor General of Pakistan’s report for the fiscal year 2023-24. The audit report…
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Global companies face earnings challenge | The Express Tribune
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NEW YORK: Global companies are lowering their full-year sales and profit expectations due to higher interest rates and a weakening Chinese economy, negatively impacting consumer sentiment and diminishing the luster of recent earnings growth. Several prominent companies, including McDonald’s, Nissan,…
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Commission Board approves privatization of electricity distribution companies | The Express Tribune
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The Privatization Commission Board (PCB) has approved the privatisation of electricity distribution companies (DISCOs) and decided to appoint financial advisors. The board meeting, chaired by Federal Minister for Investment, Communications, and Privatization Abdul Aleem Khan, approved the privatisation, and the…
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PSO proposes swapping debt for stake in public sector companies | The Express Tribune
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KARACHI: Pakistan State Oil (PSO), the country’s largest oil marketer, says it is in talks with the government on a plan to acquire stakes in public sector energy companies and offset mounting debt it is owed by firms such as…
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PSO ‘in talks’ with govt to acquire stakes in public sector energy companies
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A man drinks water from a cooler at a Pakistan State Oil petrol station in Peshawar, on October 2, 2017. —Reuters KARACHI: The Pakistan State Oil (PSO), the country’s largest oil marketer, says it is in talks with the government…
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Power companies crack down on electricity theft | The Express Tribune
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HYDERABAD: Since the launch of their campaign against power theft and illegal connections in the region, on Saturday, the Hyderabad Electric Supply company (Hesco) has claimed to have collected Rs3.59 billion of which Rs3.55 billion were recovered from defaulters, while…
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SBP tightens grip on exchange companies | The Express Tribune
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KARACHI: In the midst of an intensified crackdown against foreign currency smuggling and illicit hawala-hundi operations, the State Bank of Pakistan (SBP) has unveiled a series of stringent measures aimed at reforming the currency exchange sector. Currency exchange companies categorised…
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Govt mulls selling stakes in three power distribution companies | The Express Tribune
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KARACHI: The federal government is considering selling stakes in three high performing state-owned power distribution companies through an initial public offering, officials said on Wednesday, as the country looks to resolve financial issues facing the debt-ridden sector. The country’s power…
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PM vows to further simplify procedures for Chinese investors, companies
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Prime Minister Shehbaz Sharif addresses the ceremony organised to honour the contribution of Chinese companies operating in Pakistan under CPEC on August 7, 2023. — PID Prime Minister Shehbaz Sharif on Monday assured Chinese investors to further simplify procedures…
