JI chief meets Bangladesh's ambassador
LAHORE: Chief of Jamaat-e-Islami Hafiz Naeem-ur-Rehman met with Bangladesh's Ambassador to Pakistan Iqbal Hussain Khan. The meeting focused on bilateral relations, regional dynamics, and matters of mutual interest.
Talking on the occasion, Rehman emphasized that both Pakistan and Bangladesh face similar challenges in the realms of defense and security. He called for stronger cooperation between the two countries, especially in sectors such as defense, education, trade, and technology.
'Pakistan and Bangladesh have entered a new era of friendship,' he said, underscoring the importance of deepening people-to-people connections and fostering closer ties at the societal level.
He stressed that the people of both nations share historical and cultural bonds and cannot be separated by past divisions. 'Strengthening mutual friendship will contribute to the progress of both countries,' he remarked.
Copyright Business Recorder, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
2 hours ago
- Business Recorder
Islamabad: rates of sacrificial animals increase
ISLAMABAD: The prices of sacrificial animals have registered an increase of 75-100 per cent this year as compared with the prices of past year, revealed a survey carried out by Business Recorder. Animal traders have stated various reasons for such a huge increase in the prices including increased input costs, transportation costs, government fees and others. While the buyers have condemned animal traders for unilaterally increasing prices manifold, saying in the past they had some valid reasons but this year there is no smuggling to Afghanistan, petrol/ diesel prices are stable for the past one year, fodder prices have also not increased and the authorities have better managed animal market ridding the traders of extortion. According to buyers, on this Eidul Adha the prices of animals across major cities like Lahore, Karachi, and Islamabad have skyrocketed, resulting in leaving many buyers frustrated, with rates rising by up to 75 to 100 per cent compared to last year. Last year, a smaller heifer could be purchased for Rs100,000-125,000, but this year even a low-weight one is priced at Rs200,000 or more. Buyers are increasingly voicing concerns about the lack of official regulation in animal pricing, which has led traders to set prices arbitrarily, forcing consumers to haggle for a better deal. Animals are primarily sourced from larger markets in Punjab and Sindh, with medium-sized traders incurring additional costs for transportation to metropolitans like Karachi and Lahore, including fuel, taxes, and maintenance at the local markets, which include expenses for lighting and security. Once all these costs are accounted for, traders add their margin, which can range from Rs15,000 to Rs50,000 for smaller animals and up to Rs200,000 for larger ones. A bull with three maunds of meat was priced between Rs 120,000 to Rs150,000 last year, whereas, this year, the price ranges from Rs150,000 to Rs200,000. Mosques have fixed the price of one share in a cow or bull between Rs40,000 to Rs50,000 against Rs35000 to Rs50,000 per share last year. Cattle farms in major cities such as Karachi, Lahore, Rawalpindi, and Islamabad cater to the demand for large animals, with prices ranging from Rs0.5 million to over Rs10 million for some elite bulls. The goat market has also seen similar price increases. Medium-weight goats, which were previously sold for Rs30,000 to Rs35,000, are now priced between Rs60,000 and Rs75,000. Rates of some goats are reaching up to Rs300,000 depending on their breed and build. Rams and sheep are also experiencing a price surge, with prices ranging from Rs40,000 to Rs200,000 or more, influenced by factors like weight and appearance. Camel prices have also increased, with traders noting a growing interest in camel sacrifices over the past two years. Camels brought in from different parts of Sindh are now priced at Rs400,000 and above. According to a preliminary data compiled by Pakistan Tanners Association (PTA), in 2024 around 6.8 million sacrificial animals were slaughtered on Eid-ul-Adha of which 2.9 million cows, 3.3 million goats, 385,000 sheep, 165,000 buffalos and 98,700 camels. The PTA estimated total value of the animals at $1.8 billion or Rs500 billion. The value of sacrificial animals' hides in 2024 was estimated at around 30 million. Copyright Business Recorder, 2025
Business Recorder
2 hours ago
- Business Recorder
Punjab power relief funded by profits of two power companies
LAHORE: After the reduction in electricity tariffs of two power companies - Quaid-e-Azam Thermal Power Private Limited and the Punjab Thermal Power Private Limited - there will be cut in power tariff for the consumers but its impact would not be too significant, it has been learnt. 'There will be definitely reduction in power tariff of electricity consumers in Punjab and the relief will be financed with profits earned by said two government-owned power companies,' sources in the energy department said, adding: 'In light of the Punjab cabinet decision, the provincial government would approach Nepra for a reduction in power tariffs for these two plants so that these price reductions get permanence and are reflected in the new tariff.' It may be noted that the Punjab government had established a special purpose vehicle company by the name of Quaid-e-Azam Thermal Power (Pvt) Limited (QATPL) in March 2015 under section 32 of the Companies Ordinance 1984 in Independent Power Producer (IPP) mode with the mandate to build, own and operate a 1180 MW RLNG based power plant at Bhikki, Shiekhupura on fast track. Punjab CM announces up to 40pc relief in power tariffs The Punjab Thermal Power (Private) Limited (PTPL) is a private limited company incorporated under the Companies Act, 2017. It is wholly owned by the government of Punjab through the energy department. The main objective of the company is to establish and operate a 1263 MW thermal power plant based on RLNG at Haveli Bahadur Shah near Trimmu Barrage, District Jhang in Punjab. It may be recalled that the provincial cabinet in its meeting had given nod to cut the power tariffs of these two plants by 30-40 per cent to reduce electricity bills. This move is similar to the federal government's which recently renegotiated contracts with independent power plants (IPPs) to reduce tariffs, the sources added. 'Both the companies had curtailed its profits as well as reduced non-developmental expenditures to materialize this move.' Copyright Business Recorder, 2025
Business Recorder
2 hours ago
- Business Recorder
PHMA slams plan of distributing 2,000MW power to Bitcoin mining
LAHORE: The government's proposed plan of distributing 2,000 megawatts of excess power to Bitcoin mining and artificial intelligence (AI) data centers has faced harsh resistance from industrialists, merchants, and farmers, who contend that the power should be distributed among productive sectors to increase employment and economic growth. Sardar Usman Ghani, Central Chairman of the Pakistan Hardware Merchants Association, expressed serious reservations about the decision, saying that making available cheap electricity to a 'non-productive, speculative industry' is not justifiable when industry, agriculture, and labour-intensive industries are facing an energy crunch. It is shocking to learn that the government plans to export excess electricity to speculative activities such as Bitcoin mining rather than encouraging the productive industries' Ghani informed Business Recorder. 'The decision will not create jobs or drive actual economic growth. It will just promote a privileged group at the expense of industries, traders, farmers, and workers,' he added. The row is based on the government's alleged talks with Bitcoin miners and AI companies to provide them with electricity at subsidised tariffs to leverage surplus power generation capacity. Critics, however, say Pakistan's persistent energy shortfalls make such an allocation irresponsible, especially when industrial and agricultural sectors suffer intermittent outages. Industrialists and economists have raised questions regarding the economic logic of the decision, pointing to the specious nature of crypto currency markets. Bitcoin mining is extremely power-guzzling, and with electricity costs accounting for a large percentage of operating costs, critics say that the government stands to incur massive losses if prices of crypto currencies plummet. Additionally, the opacity in tariff fixation and the void of a proper regulatory structure for crypto currencies have further acted as repellents. The International Monetary Fund (IMF) has also asked for explanations from Pakistani officials, requesting information on electricity tariffs and the legal status of crypto mining. Virtual talks between Pakistani authorities and the IMF will soon be initiated to sort these issues out. Usman Ghani said that industrial sector of Pakistan has been known to face an unreliability of power supply, and allocating 2,000 MW for Bitcoin mining might be doing it harm. Business owners contend that giving higher preference to speculative activities over manufacturing, agriculture, and small business hampers the allocation of resources, which could dampen sector growth in areas generating jobs. Copyright Business Recorder, 2025
