KARACHI: Pakistan’s total foreign exchange reserves stood at $19.95 billion during the week ended on July 11, ARY News reported on Thursday, citing the State Bank of Pakistan (SBP). Pakistan’s reserves held by the SBP increased by $23 million on a weekly basis to reach US$ 14.52 billion during the same period, the central bank […]
A participant speaks at the webinar on investment opportunities at Pakistani ports on Wednesday.—Courtesy US consulate ISLAMABAD: Over 65 US companies joined a landmark webinar on Wednesday to explore commercial opportunities at Karachi Port and Port Qasim. The webinar hosted by the US Department of Commerce’s International Trade Administration and the US Department of State, in collaboration with the Ministry of Maritime Affairs, part of the ‘Gateways to Growth: South Asia Port Opportunities’ series, has opened new doors for American commercial services in the port sector of Pakistan. The webinar served as a strategic platform for American companies to engage directly with Pakistani port officials and private operators. “US investors have made substantial contributions to Pakistan’s development, and we are confident that the port sector will be another area where we can achieve great success together,” said US Consul General Scott Urbom in Karachi, emphasising the role of partnership in fostering long-term c...
KARACHI: The U.S. Department of Commerce, in association with the U.S. Department of State and Pakistan’s Ministry of Maritime Affairs, held a high-impact webinar focused on exploring Pakistan port investment opportunities, ARY News reported. This is a strategic decision to deepen U.S.-Pakistan trade relations. The engaged participants from over 65 American companies signalled growing interest […]
The quiet energy revolution has spread from wealthy neighbourhoods to middle- and lower-income households as customers look to escape soaring electricity bills and prolonged power cuts. Down a cramped alley in Karachi, residents fighting the sweltering summer heat gather in Fareeda Saleem’s modest home for something they had never experienced before —uninterrupted power. “Solar makes life easier, but it’s a hard choice for people like us,” she says of the installation cost. Saleem was cut from the grid last year for refusing to pay her bills in protest over enduring 18-hour power cuts. A widow and mother of two disabled children, she sold her jewellery — a prized possession for women in Pakistan — and borrowed money from relatives to buy two solar panels, a solar inverter and a battery to store energy, for Rs180,000 ($630). As temperatures pass 40 degrees Celsius, children duck under Saleem’s door and gather around the breeze of her fan. Fareeda Saleem, a local resident, shows a newly installed inverter at he...