Govt plans to build pilot cryptocurrency mining farms in KP
PESHAWAR: The Khyber Pakhtunkhwa government is planning to build two hydroelectric-powered pilot “mining farms” to capitalise on a bullish global cryptocurrency market, a minister overseeing a new government crypto policy told Reuters on Wednesday. The announcement comes as cryptocurrencies are gaining mainstream acceptance, with Bitcoin’s price reaching record levels as investors such as Elon Musk pour funds […]
The emerging inflationary spiral
The government introduced a series of measures last week that apparently set the stage for lasting inflationary pressures. Measured by the Consumer Price Index (CPI), the rate of inflation has already risen substantially to 8.7 per cent in February. Important policy decisions included the withdrawal of corporate income tax exemptions, which will become effective on […]
Ministry takes action against officer involved in bribery
ISLAMABAD: As the interior ministry steps up its campaign against corruption within the ministry, it has surrendered an officer who was allegedly found involved in a scam of Rs11 million taken as bribe from dozens of Chinese nationals for issuance of exit permits to them. Services of Joint Secretary Khalid Rasool have been placed at […]
WHO’S WHO OF THE PSX
Four powerful conglomerates — Fauji Foundation, Hussain Dawood Group, Yunus Brothers Group and Nishat Group — control 19.3 per cent of the total market capitalisation of the Pakistan Stock Exchange (PSX). With the market capitalisation of Rs7.95 trillion on March 18, the four groups together have within their folds as many as 23, mostly blue-chip, […]