ISLAMABAD: Pakistan’s High Commissioner to Bangladesh Imran Haider met Chief Adviser Professor Muhammad Yunus on Sunday, expressing hope that direct flights between Karachi and Dhaka will commence in January as the two nations seek to deepen economic and people-to-people links.
Technology
Pakistan eyes April reset for PIA under new owner
ISLAMABAD: Pakistan’s government expects a new owner to take the helm of its flag carrier by April, injecting fresh capital into the beleaguered airline after a local consortium clinched a controlling stake with a Rs135 billion bid that topped expectations.
Flag carrier PIA sold to Arif Habib consortium for Rs135bln in televised open auction
ISLAMABAD: Pakistan sold a controlling stake in its loss-making national airline to a consortium led by Arif Habib Corp. for Rs135 billion, the country’s first major privatisation in nearly two decades and a key step in efforts to revive the struggling economy under an International Monetary Fund bailout.
ECC approves largest spectrum auction to pave way for 5G rollout
ISLAMABAD: The Economic Coordination Committee of the cabinet on Tuesday approved plans for its biggest-ever spectrum auction, setting the stage for the country’s first commercial 5G services and aiming to ease chronic internet congestion that has hampered the economy.
PIA sale heads to open auction as two bidders clear price bar, Arif Habib-led group tops at Rs115bn
ISLAMABAD: A consortium led by Arif Habib Corp. submitted the top bid of Rs115 billion for a controlling stake in Pakistan International Airlines, edging out a group spearheaded by Lucky Cement Ltd. with an offer of Rs101.5 billion, as the government pushed ahead with a long-delayed effort to privatize the debt-laden flag carrier.
Pakistan draws three bids for struggling national carrier in high-stakes privatisation push
ISLAMABAD: Three groups submitted bids to acquire a controlling stake in Pakistan International Airlines Corp. Ltd., the debt-laden flag carrier, in what the government touted as the nation’s largest-ever privatisation deal and a key plank of its economic overhaul under an International Monetary Fund bailout.
Three bidders vie for control of flag carrier PIA in long-delayed sale
KARACHI: The government is poised to kick off the long-awaited privatization of the national carrier, Pakistan International Airlines Corp., on Tuesday, with just three bidders in the running after Fauji Fertilizer Co. bowed out over the weekend.
Pakistan grants initial crypto clearances to Binance, HTX under phased regulatory framework
ISLAMABAD: Pakistan’s cryptocurrency regulator clarified that the initial clearances granted to global exchanges Binance and HTX are far from a full endorsement, describing them instead as the opening move in a tightly controlled, step-by-step framework aimed at harnessing the sector while mitigating risks.
Pakistan inks deal with Binance to explore $2 billion asset tokenization
ISLAMABAD: Pakistan signed a memorandum of understanding with crypto exchange Binance to explore tokenizing up to $2 billion in sovereign bonds, treasury bills and commodity reserves, a move aimed at boosting liquidity and drawing international investors amid a broader push into digital assets.
Pakistan secures $940 million from ADB, World Bank for SOE reform, climate and water projects
KARACHI: Pakistan received a fresh influx of international financing on Friday as the Asian Development Bank approved $540 million to overhaul its struggling state-owned enterprises and bolster coastal defenses against climate disasters, while the World Bank separately greenlighted $400 million to expand water and sanitation services in the country’s most populous province.