ISLAMABAD: Pakistan is on the cusp of a high-speed internet revolution as the Pakistan Telecommunication Authority (PTA) finalizes preparations to introduce satellite-based internet services, with at least five global players eyeing entry into the South Asian market, Dawn newspaper reported on Thursday.
Economy
Punjab to launch survey of flood damage as Sutlej surge threatens south
LAHORE: The Punjab government will soon launch a comprehensive survey to assess the toll of floods that have ravaged 28 districts, officials said Wednesday, as teams race to drain stagnant water, restore roads, and curb disease outbreaks.
Pakistan, Iran sign trade pacts targeting $10 billion in bilateral commerce
ISLAMABAD: Pakistan and Iran signed a raft of protocols on Wednesday aimed at enhancing bilateral trade to $10 billion annually, a near tripling of current levels.
Inflation set to surge to 6.5 percent in September on flood-hit food prices
KARACHI: The headline inflation is poised for a sharp rebound to 6.5% year-on-year in September after edging up to 3% in August, driven by flood-related spikes in food prices, brokerage Topline Securities said in a report on Wednesday.
Pakistan, Saudi Arabia sign defence pact pledging joint response to aggression
ISLAMABAD: Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman signed a “Strategic Mutual Defence Agreement” on Wednesday, formalising a pledge that any aggression against one nation would be regarded as an assault on both, in a deepening of ties between the two Muslim states at a moment of escalating conflict across the Middle East.
Top court questions parliament’s power to extend tax laws beyond fiscal year
ISLAMABAD The Supreme Court of Pakistan dove into a thorny constitutional debate on Tuesday, probing whether the National Assembly can pass tax laws that extend beyond the financial year’s boundaries.
Punjab wheat transport curbs spark flour shortages, soaring prices in other provinces
ISLAMABAD: An unannounced restriction on the interprovincial movement of wheat from Punjab, the country’s agricultural heartland, has triggered a flour shortage and sent prices soaring in other provinces, igniting a fierce debate over constitutional rights, market deregulation, and food security.
Private credit surges 15 percent in August on easing conditions, lower govt borrowing
KARACHI: The private sector borrowing from banks accelerated to a 15.4% year-on-year gain in August, the strongest pace in months, as declining government debt needs freed up liquidity and lower interest rates spurred demand across industries from textiles to autos.
Factory output surges 8.99 percent in July on textile export boom
ISLAMABAD: The large-scale manufacturing (LSM) sector expanded at its fastest pace in over a year, climbing 8.99% in July from a year earlier, fueled by a robust textile sector that saw exports soar 32% to $1.68 billion.
IHC voids telecom regulator chief’s appointment, orders immediate removal
ISLAMABAD: The Islamabad High Court ordered the immediate removal of the chairman of the state telecoms regulator on Tuesday, ruling his appointment illegal and tainted by procedural flaws.