Pakistan is set to reduce power prices at electric vehicle (EV) charging stations to boost demand and support the decarbonization of its transport sector. Power Minister Awais Leghari announced that the government is working on a pricing structure that will apply to all charging and battery swapping stations for small cars, two-wheelers, and three-wheelers.
Pakistan's Finance Minister Muhammad Aurangzeb announced that the government will not impose additional taxes through a mini-budget for the current fiscal year, as it is on track to meet its tax collection target. The goal is to achieve 13 trillion rupees ($47 billion) by June.
Arshad Khan, the viral "Chaiwala" from Pakistan, has secured a Rs 1 crore investment on Shark Tank Pakistan to expand his tea brand, Chaiwala & Co. Known for blending traditional chai with cultural experiences, Khan aims to represent Pakistan globally, with outlets in Pakistan and a flagship café in London. He recently invited potential franchisees worldwide to join his venture.
Pakistan has reduced its benchmark interest rate for the fourth consecutive time, bringing it down by 250 basis points to 15%, the lowest level in two years. This move aims to support the struggling economy, with all 38 economists surveyed predicting a rate cut, eight of whom anticipated this specific adjustment.
Pakistan's attempt to sell its national airline, Pakistan International Airlines Corp., faces uncertainty after the initial bid fell significantly short of the expected minimum price of $306 million. Blue World City offered a bid 8.5 times lower than the government's target of 85 billion rupees. The government plans to review the bidding outcome, though no timeline has been provided.
Pakistan International Airline (PIA) received a single bid of $36 million from Blue World City for a 60% stake, far below the government's minimum expectation of $306 million. The real estate group plans to revive the airline by leasing aircraft and seeking financial backing from Chinese and Turkish investors. Despite the bid, shares of PIA initially rose but ultimately fell by 5% by the end of the trading session.
The global diabetic retinopathy devices market, valued at USD 12.47 billion in 2022, is projected to grow at a robust CAGR of around 30% through 2030, driven by rising diabetes cases and an aging population. Non-proliferative diabetic retinopathy is expected to dominate, while North America will lead regionally, with significant contributions from the APAC region due to its large diabetic population. Key players include F. Hoffmann-La Roche, Novartis, and Regeneron, focusing on innovative treatments and technologies.
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