ISLAMABAD, AUG 21 /DNA/ – The privatisation of Pakistan’s power distribution companies has reached a new milestone, with the Gujranwala Electric Power Company (GEPCO) attracting strong interest from both domestic and international investors. The Privatisation Commission (PC) confirmed that by the closing date for submission of Expressions of Interest (EOIs), it had received bids from 11 prospective investors seeking to acquire between 51% and 100% shareholding in GEPCO, along with full management control. The interested parties include: The list features major business groups from Turkey, Saudi Arabia, and Pakistan’s leading industrialRead More

ISLAMABAD, AUG 21 /DNA/ – Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, today held a meeting with a high-level delegation of the Silk Road Fund (SRF), a major Chinese investment fund, led by its Chairperson, Ms. Zhu Jun, to discuss investment opportunities and avenues for greater economic and investment cooperation with Pakistan. The Finance Minister welcomed the delegation and briefed the participants on Pakistan’s recent economic progress, including improvements in fiscal discipline, external account stability, foreign exchange reserves and the overall macroeconomic outlook. He highlighted the Government’s focusRead More

TEHRAN, AUG 21: Iranian parliament speaker Mohammed Bagher Ghalibaf said on Friday that Iran must plan to overcome “unjust sanctions,” a day after US Treasury Secretary Scott Bessent announced what he described as the toughest sanctions ever imposed on Iran. Bessent said on Thursday the measures would be detailed on Monday, suggesting they could lessen the need for further major military operations. Ghalibaf, one of Iran’s most influential political figures and Tehran’s top negotiator in talks with the United States, said economic development and security were closely linked. He accusedRead More

ISLAMABAD, AUG 21 /DNA/ – Pakistan joined the global community today in observing the International Day of Remembrance of and Tribute to the Victims of Terrorism, with officials issuing a solemn statement reaffirming the nation’s unwavering commitment to combating terrorism while honoring the immense sacrifices made by its citizens. In an official message from Islamabad, Pakistan noted that it has endured unprecedented losses in the global fight against terrorism, with over 90,000 Pakistanis losing their lives and economic damages exceeding $150 billion. The statement emphasized that the country’s sacrifices haveRead More

ISLAMABAD, AUG 21: Chief of Defence Forces (CDF) and Chief of Army Staff (COAS) Field Marshal Syed Asim Munir has pledged to defeat the hostile elements’ “inimical designs” aimed at obstructing the development of Balochistan, the Inter-Services Public Relations (ISPR) said on Friday. The army chief made the remarks during an interaction with notables and political leadership of the province, underscoring that the present and future of Balochistan and Pakistan were one and forever, the military’s media said in a statement. CDF Munir highlighted that Balochistan was blessed with talented,Read More