KARACHI: Komatsu Ltd, the Japanese heavy machinery titan, will invest $100 million in a mining equipment maintenance hub in Pakistan and has clinched a $440 million deal with Barrick Gold Corp. to supply the Reko Diq mine, underscoring optimism about the country’s mining prospects, Nikkei Asia reported.
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Pakistan parliament passes Rs17.57 trillion budget with deep cuts, defence hike
ISLAMABAD: Pakistan’s lower house of parliament approved a Rs17.57 trillion federal budget for the next fiscal year on Thursday, slashing spending by 7% while funneling nearly half the funds to debt servicing and boosting defense outlays by more than 20% after a sharp escalation in tensions with arch-rival India.
Authorities bust alleged Indian spy network, arrest suspects in crackdown
ISLAMABAD: Authorities say they have dismantled a spy network linked to India’s Research and Analysis Wing (RAW), arresting several suspects in a sweeping crackdown that has heightened tensions between the nuclear-armed neighbors.
PM Sharif rolls out agriculture reforms to boost economy, aid farmers
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Pakistan softens tax enforcement, approves Rs3.951 trillion budget amid recovery signals
ISLAMABAD: The government has softened its tax enforcement stance while greenlighting a Rs3.951 trillion budget, striking a delicate balance between fostering compliance and fueling economic growth.
Digital payments hit two billion, dominate 89pc of retail transactions
KARACHI: Digital payments in Pakistan reached 2 billion transactions in the third quarter of fiscal year 2025, capturing 89% of total retail payments, as the country’s shift to a cashless economy gained momentum, the State Bank of Pakistan (SBP) reported on Wednesday.
Pakistan, UAE sign visa exemption deal at first JMC meeting in 13 years
ISLAMABAD: Pakistan and the United Arab Emirates (UAE) signed a memorandum of understanding (MoU) on Tuesday exempting diplomatic and official passport holders from visa requirements, a move to strengthen ties after a 13-year pause in high-level ministerial talks.
Nepra cuts base power tariff by Rs1.49 per unit for next fiscal year
ISLAMABAD: Pakistan’s energy regulator slashed the base power tariff by Rs1.49 per unit for the next fiscal year, offering limited relief to consumers grappling with rising electricity costs.
Pakistan power output jumps 21 percent in May, signals economic uptick
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Barrick inks $440 million deal with Komatsu for Pakistan’s Reko Diq mine
KARACHI: Barrick Gold Corp., the Canadian mining giant, signed a $440 million deal with Japan’s Komatsu Ltd. for heavy mining equipment to develop Pakistan’s Reko Diq copper-gold project, one of the world’s largest undeveloped deposits.