Latest news with #CopyrightBusinessRecorder
Business Recorder
13 hours ago
- Business
- Business Recorder
Oil sector in Pakistan: Minister outlines key investment opportunities
KARACHI: Federal Minister for Petroleum Ali Pervaiz Malik outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy in a meeting with the Overseas Investors Chamber of Commerce and Industry (OICCI). OICCI held a detailed interactive session with Ali Pervaiz Malik, attended by senior business leaders from both local and multinational companies. Discussions focused on Pakistan's energy priorities and the path to long-term economic stability. The Minister reaffirmed the government's commitment to structural reforms, accelerated policy execution, and enhanced industry engagement. He cited recent resolution of refinery-sector challenges as a positive example of collaborative progress. During the meeting, the Minister outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy and invited the foreign companies for investment. He further highlighted the recent FDI-related successes in attracting foreign investment in the mining sector, which aim to unlock the country's untapped natural resources and drive future exports and industrial diversification. Yousaf Hussain, President of OICCI and CEO of Faysal Bank, emphasised the importance of policy consistency, technocratic execution, and a joint, collaborative roadmap to achieve deep-rooted economic stability and sustainable growth. He noted that closer engagement between the government, OICCI, and industry in both policy formulation and execution will be essential to delivering results and strengthening investor confidence. Copyright Business Recorder, 2025
Business Recorder
16 hours ago
- Business
- Business Recorder
Minister lays foundation stone of NADRA Mega Centre
ISLAMABAD: Interior Minister Mohsin Naqvi on Friday laid the foundation stone of a 10-storey National Database and Registration Authority (NADRA) Mega Centre, with construction expected to be completed by June 2026. Later, while chairing a high-level meeting at NADRA headquarters, the minister approved a nationwide crackdown on SIM cards issued against expired Computerised National Identity Cards (CNICs). According to an official statement issued here, the decision was made to strengthen digital identity verification and curb misuse of identification documents. In the first phase, SIM cards linked to CNICs issued in 2017 or earlier will be blocked. In subsequent phases, the policy will be extended to deactivated CNICs issued after 2017, ensuring that only valid and active identity cards are used for mobile phone registrations. During the briefing, NADRA Chairman Lt Gen Muhammad Munir Afsar informed the meeting that, in collaboration with the Pakistan Telecommunication Authority (PTA), SIM cards registered under the names of deceased individuals or holders of expired CNICs are already being deactivated. He raised concerns over the widespread storage of citizens' biometric data by various government departments and private service providers, warning that such practices pose significant risks of data theft and misuse. To address this issue, the chairman recommended the nationwide adoption of facial recognition technology — particularly beneficial for citizens facing difficulties with fingerprint verification. The minister endorsed the proposal and announced that the Ministry of Interior would issue directives to all relevant institutions to stop storing biometric data separately. He further confirmed that facial recognition technology will be implemented nationwide by December 31, 2025, under the ministry's direct supervision. Copyright Business Recorder, 2025
Business Recorder
16 hours ago
- Business
- Business Recorder
Sector H-13: CDA seals 18 unauthorised buildings, commercial outlets
ISLAMABAD: The Capital Development Authority (CDA) on Friday sealed 18 unauthorised buildings and commercial outlets in Sector H-13 of Islamabad. The large-scale operation, carried out by the Directorate General of Building and Housing Control in coordination with the Enforcement Directorate, ICT Administration, and Islamabad Police, was launched on the directives of Chairman CDA, Chief Commissioner Islamabad, and DG Civil Defence Muhammad Ali Randhawa. The sealed structures were found to be in gross violation of the CDA Ordinance 1960 and Building Control Regulations 2020 (amended 2023). Copyright Business Recorder, 2025
Business Recorder
17 hours ago
- Business
- Business Recorder
CCP holds awareness session on Competition Law for IIUI students
ISLAMABAD: An awareness session on 'Competition Law in Pakistan' was held at the Competition Commission of Pakistan (CCP) Headquarters for the students of School of Economics, International Islamic University, Islamabad (IIUI). Moderated by CCP's Deputy Director of Advocacy, Raja Taimur Hassan, the session commenced with a brief video showcasing the CCP's role, followed by a detailed presentation on Competition Law by Ahmed Qadir, Director General. Ahmed Qadir explained the fundamental of Competition Law, including those related to the cartelization, abuse of dominant position, deceptive marketing, prohibited agreements and mergers & acquisitions, to the students. He supplemented his presentation with case studies to demonstrate practical enforcement of competition law. He also highlighted the important role that Competition Law plays in fostering fair market practices, which are critical for economic growth. Students took keen interest and posed numerous questions regarding Competition Law and the work of the Commission, which were addressed by the officials of the Commission. Dr Babar Amin, Lecturer at the School of Economics, IIUI, commended the session, describing it as a crucial basis for students' comprehension of market dynamics and Pakistan's regulatory frameworks that govern and guide economic activity. Copyright Business Recorder, 2025
Business Recorder
17 hours ago
- Business
- Business Recorder
Chairman Senate embarks on visit to Ashgabat, Turkmenistan
ISLAMABAD: Chairman Senate Yousaf Raza Gilani embarked on an official visit to Ashgabat, Turkmenistan, a press release said on Friday. The visit marked a significant milestone in the diplomatic relations between the two nations, the press release added. On reaching Ashgabat, Chairman Gilani was received at the airport by G. Rozye, Deputy Chairman of the Mejlis of Turkmenistan, and Annamuhammet Sarvjayev, Chairman of the Friendship Parliamentary Group, said the press release. Copyright Business Recorder, 2025
