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.
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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.
Lahore High Court suspends Punjab property ordinance, cites risk of arbitrary seizures
LAHORE: The Lahore High Court on Monday suspended a contentious new law aimed at resolving provincial property disputes, warning that it undermined judicial authority and could lead to arbitrary seizures of land, even from powerful figures.
Saudi Arabia awards top honor to Pakistan’s military chief, signaling closer strategic ties
ISLAMABAD: Saudi Arabia’s defence minister, Prince Khalid bin Salman bin Abdulaziz, has awarded Pakistan’s chief of defence forces, Field Marshal Asim Munir, the King Abdulaziz Medal of Excellent Class, recognising his role in bolstering ties between the two nations.
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.
Nine militants killed in two security operations in Khyber Pakhtunkhwa
ISLAMABAD: Security forces killed nine militants in two separate operations in the restive Khyber Pakhtunkhwa province, the military said on Sunday, amid a surge in terrorist attacks that has pushed the country to the second spot on a global index of nations most affected by terrorism.
Opposition alliance tests unity with plans for protest and talks
ISLAMABAD: The fractured opposition alliance gathered in Islamabad on Sunday and vowed to escalate protests against the government, announcing nationwide strikes on the second anniversary of disputed elections and demanding the release of jailed leaders, including former Prime Minister Imran Khan.
Pakistan hammer India by record margin in U-19 Asia Cup final
DUBAI: Pakistan produced a dominant all-round performance to thrash arch-rivals India by 191 runs in the U-19 Asia Cup final at the ICC Academy Ground on Sunday, claiming the prestigious title in emphatic fashion.
Lahore ATC sentences four key PTI leaders to 10 years in prison over May 9 riots
LAHORE: An anti-terrorism court in Lahore sentenced four prominent leaders of the opposition Pakistan Tehreek-e-Insaf party to 10-year prison terms on Saturday in two cases stemming from the violent riots that swept the country in 2023 after the arrest of the party’s founder, Imran Khan.
Finance ministry rebuffs KP funding claims, details billions in transfers
ISLAMABAD: The federal government pushed back against accusations from Khyber Pakhtunkhwa’s chief minister that it was withholding funds critical for development in the province’s merged tribal districts, asserting in a detailed statement that it has disbursed billions of rupees on schedule and maintains no outstanding liabilities.