logo
Motorways in Sindh top priority of federal govt: Aleem

Motorways in Sindh top priority of federal govt: Aleem

KARACHI: Federal Minister for Communications Abdul Aleem Khan has said that the construction of motorways in Sindh is a top priority of the government, and the M-6 and M-10 motorways will be launched simultaneously, as the M-6 is Pakistan's lifeline, which was unfortunately neglected by previous governments.
Talking to the media along with Arif Habib chairman Arif Habib Group here on Monday, he said that a motorway will be incomplete in its utility without being connected to the Ports and both the M-6 and M-10 will be linked to the Karachi Port to ensure their full functionality.
Highlighting the significance of the M-6 Project, the minister informed that it is a nearly Rs 400 billion initiative comprising upon five sections, each approximately kilometres long. 'There is no better opportunity for investment than in this project,' he pointed out.
Aleem Khan said that financing has already been secured for two sections while discussions for the remaining three are ongoing. 'We will finalise the feasibility report and present it to the Prime Minister within the next 15 days,' he added.
The federal minister further said that the motorways from Karachi to Hyderabad and from Hyderabad to Sukkur will be completed as early as possible while work on the N-25 Highway from Karachi to Quetta is also scheduled to begin later this year. 'Karachi's challenges are not just provincial, they are national issues and we will address them on a priority,' he emphasized.
Replying to the questions, Khan stressed that his focus is on delivering progress rather than engaging in blame games. 'My effort is to prioritise the launch of motorway projects in Sindh; similarly, we are committed to completing the Kaghan-Naran motorway,' he said.
He informed that the National Highway Authority (NHA) has recorded unprecedented growth in revenue over the current fiscal year and attaining the target from Rs 64 billion to Rs 110 billion while this additional income will be utilised into improving road infrastructure and constructing new motorways.
To ensure road safety, he said that strict measures are being implemented against dangerous driving on motorways. 'Drivers exceeding 150 km/h are not only being fined but also facing FIRs,' he added. Mandatory use of M-Tags is helping reduce long queues, and staffing shortages in motorway police are being addressed,' Aleem Khan said.
Regarding his visit to Karachi, the minister mentioned that he, along with the Federal Secretary Communications and Chairman of the NHA held meeting with the Chief Minister of Sindh and assured him of full support from his ministry.
He also held a highly productive meeting with the business community led by Arif Habib, where investors expressed interest in participating in the development of Sindh's motorways and road networks. Additionally, he noted that a joint team is being formed to focus on additional options for the Lyari Expressway in Karachi, including improvements to interchanges and exploration of further development projects.
Copyright Business Recorder, 2025
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ECC approves industrial estate at PSM land, leather export facilitation
ECC approves industrial estate at PSM land, leather export facilitation

Business Recorder

time6 hours ago

  • Business Recorder

ECC approves industrial estate at PSM land, leather export facilitation

The Economic Coordination Committee (ECC) of the federal cabinet on Wednesday approved several key economic measures, including the establishment of an industrial estate on Pakistan Steel Mills (PSM) land, the removal of health quarantine requirements for leather exports, and major supplementary grants for climate and media projects. The meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, was attended by Minister for Power Sardar Awais Ahmed Khan Leghari, Minister for Commerce Jam Kamal Khan, federal secretaries and senior officials. The ECC approved the removal of the requirement for Health Quarantine Certificates on the import and export of leather. The move aims to facilitate the leather industry and enhance its competitiveness in global markets. ECC approves rollout of EV subsidy, other grants A Technical Supplementary Grant was also approved for the Ministry of Climate Change and Environmental Coordination for the fiscal year 2025-26. The allocation will support Pakistan's participation in the 30th Session of the Conference of the Parties (COP-30) in Brazil later this year, as part of broader efforts to strengthen environmental protection and climate resilience. The committee sanctioned Rs 2.829 billion for Pakistan Television Corporation (PTVC) to upgrade its English news channel in order to improve broadcast quality and expand outreach to global audiences. The ECC directed the Ministry of Information to prepare a comprehensive business plan to make the channel self-sustainable and reduce reliance on federal grants. ECC approves key policy interventions in EFS In a significant industrial development, the ECC approved the creation of an industrial estate on PSM land in Karachi, a project aimed at boosting industrial activity, generating jobs, and attracting investment. Aurangzeb emphasised the need for the timely implementation of the approved measures to ensure their intended economic and social benefits.

Pakistan govt alarmed by over Rs6trn losses in state-owned enterprises
Pakistan govt alarmed by over Rs6trn losses in state-owned enterprises

Business Recorder

time20 hours ago

  • Business Recorder

Pakistan govt alarmed by over Rs6trn losses in state-owned enterprises

ISLAMABAD: Finance Minister Muhammad Aurangzeb has termed as alarming the government figures suggesting that State-Owned Enterprises (SOEs) have incurred losses of nearly six trillion rupees, saying, eight SOEs would be privatised this year. 'This is alarming indeed,' he said, speaking on a calling attention notice in Senate on Tuesday regarding the 'alarming figures revealed in Biannual Performance Report issued by the Finance Division that state-owned enterprises have incurred losses of Rs 5.89 trillion during first half of financial year 2024-2025.' Samina Mumtaz Zehri from Balochistan Awami Party (BAP) was the original mover of the calling attention notice, but was absent from the House when the calling attention notice was taken up on the maiden day of the Senate's 353rd session. Pakistan Peoples Party (PPP) Parliamentary Leader in Senate Sherry Rehman then took up the issue regarding the reported losses incurred by the SOEs. 24 SOEs to be privatised in 3 phases: minister Last year, the revenue was recorded at Rs 12 trillion. 'But 50 percent has been lost as result of losses incurred by the SOEs,' Aurangzeb said. 'This flow is very high—the government is taking different steps to reduce expenditure—like we introduced pension reforms—to cut down on the expenses,' the minister said. He said 24 SOEs have been finalised for privatisation. 'They were referred to the Cabinet Committee on Privatisation, and then finally referred to the Privatisation Commission. Eight SOEs would be privatised this year—the rest would be privatised thereafter,' he said. The Sindh government, Aurangzeb said, is following 'very good' formula of public-private partnership. The chairpersons of the board of directors of the SOEs are being appointed from private sector to involve private sector to improve the affairs at the SOEs, said the minister. 'Three DISCOs (distribution companies) have been put to the process of privatisation—it's yielding good results,' he said. The finance minister said that the cabinet committees on SOEs and rightsizing, under his leadership, are working on the privatisation in 43 ministries and 400 government departments. Aurangzeb said he regularly appears before the finance committees of the Senate and the National Assembly for 'accountability.' Earlier, the Senate unanimously passed the Anti-Dumping Duties (Amendment) Bill, 2025. The bill gives retrospective effect to cover the period from financial year 2020-2021 and onwards to exempt products imported for foreign grant in-aid projects from payment of anti-dumping duty through Anti-Dumping Duties (Amendment), Act 2022. Meanwhile, the opposition senators strongly protested against the convictions of Pakistan Tehreek-e-Insaf (PTI) lawmakers by anti-terrorism courts (ATCs), and walked out of the House. Presently, the Senate is without an opposition leader following the conviction of Shibli Faraz by an ATC in the context of 9 May riots, and his subsequent disqualification from the Senate by the Election Commission of Pakistan (ECP). The Senate was adjourned till Friday. Copyright Business Recorder, 2025

Stocks stay strong
Stocks stay strong

Business Recorder

timea day ago

  • Business Recorder

Stocks stay strong

KARACHI: The Pakistan Stock Exchange (PSX) navigated a turbulent session on Tuesday, closing at a record high despite heavy profit-taking by investors keen to lock in recent gains. The benchmark KSE-100 Index ended just 75.48 points, or 0.05 percent up at 147,005.32 points, as compared to the previous session closing of 146,929.98 points. The index touched an intraday peak of 147,977 points and a low of 146,895 points before ending at record close. BRIndex100 closed at 15,035.17, down 37.65 points or 0.25 percent, with a total volume of 543.26 million shares. BRIndex30 fell 103.75 points, or 0.24 percent, to 42,521.63 points, with 259.14 million shares traded. According to Topline Securities, gains in BAFL, HBL, and SYS added a combined 295 points to the benchmark, partly offsetting losses from FFC, MARI, OGDC, PSO, and BAHL, which together eroded 527 points — underscoring sectoral divergence and investor caution. Market breadth remained negative, with 208 scrips advancing against 242 decliners and 32 remain unchanged in the ready market. Turnover in the ready market rose to 691.65 million shares from 611.20 million in the previous session, while traded value inched up to Rs 44.58 billion from Rs 44.00 billion of yesterday. Yousuf Weaving led the volumes with 46.27 million shares, closing at Rs 6.09. Kohinoor Spinning followed with 39.94 million shares at Rs 6.47, while Invest Bank finished the day at Rs 9.68 on 34.39 million shares. Among the top gainers, PIA Holding Company surged Rs 156.85 to Rs 29,000, and Khyber Textile Mills gained Rs 69.71 to Rs 1,477. On the flip side, Nestle Pakistan fell Rs 88.57 to Rs 8,762.79, while Unilever Pakistan Foods dropped Rs 79.40 to Rs 32,020.61. Sectoral performance was mixed — strength in banking supported the index, while oil, gas, and fertilizer stocks weighed on sentiment. The Oil and Gas sector remained under pressure amid selling in OGDC, PSO, and PPL futures. Market capitalization edged down to Rs 17.524 trillion from Rs 17.529 trillion a day earlier, reflecting the limited net effect of the day's choppy trade. The BR Automobile Assembler Index closed at 23,639.61 points, up 154.78 points or 0.66 percent, with a turnover of 3.12 million shares. The BR Cement Index rose 124.58 points, or 1.1 percent, to 11,483.55 points, on 41.59 million shares. The BR Commercial Banks Index gained 269.64 points, or 0.62 percent, to close at 43,604.32 points, with 92.97 million shares traded. The BR Power Generation and Distribution Index slipped 96.50 points, or 0.42 percent, to 22,765.22 points, on 35.82 million shares. The BR Oil and Gas Index dropped 206.53 points, or 1.54 percent, to 13,197.93, with 56.19 million shares changing hands. The BR Technology & Communication Index added 32.17 points, or 0.98 percent, to 3,329.63, on 42.18 million shares. Ahsan Mehanti of Arif Habib Corporation said the market's strength was underpinned by a robust earnings outlook and rupee stability, while speculation over Pakistan–US trade and investment deals, government moves to secure additional export tariff incentives, and rising business confidence acted as catalysts for the record close. Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store