KARACHI: A United Arab Emirates-based multidisciplinary virtual assets investment consultancy company has collaborated with a Pakistani software house to import healthcare services for the Saudi market, informed the company’s top official earlier this week.
Headquartered in Dubai, PXDX deals in healthcare training and services in the Middle East and North Africa (MENA) region where it manages its operations.
“We started collaboration in Pakistan and we had a project and we will be getting cooperation with a local software house in Pakistan and we will be importing their services to Saudi Arabia,” Dr. Rehan Al Taji, the founding CEO of PXDX and Gabriel Jobs, KSA, told Arab News without divulging the name of the Pakistani business entity.
The conversation took place on the sidelines of the seventh edition of The Future Summit, a two-day event that brought together futurists, business experts, innovative thinkers and investors at a local hotel in Karachi on Nov. 15.
“We will not only be offering services to hospitals but also extend our services to other sectors. However, we will start with the healthcare sector,” he continued without sharing further details.
Taji, who said he was visiting Pakistan third time, said he was deeply impressed by the performance of Pakistani startups which he described as “smart and innovative.”
“We saw Pakistani startups coming as a second runner up after Saudi startup in previous events like LEAP [tech conference] in Riyadh a few months back,” he said. “They are great.”
The PXDX and Gabriel Jobs chief said there were huge opportunities for Pakistani startups under Vision 2030, a program introduced by the Saudi authorities to diversify the kingdom’s economy and reduce its dependency on oil.
“Pakistani startups can extend their business in Saudi Arabia because now they [the Saudi authorities] are allowing it. With the help of Saudi businesses, they can establish their own companies there which will be 100 percent in their name and under their own ownership,” Taji continued, adding the opportunities were getting more rampant and easier to tap for foreign investors in the kingdom.
Under Vision 2030, the Saudi government is trying to develop, among other things, public service sectors such as health, education, infrastructure, recreation and tourism.
Speaking to Arab News, Dana Al Salem, a Kuwaiti global tech entrepreneur, investor and innovation expert said Vision 2030 had clear objectives.
“The countries that are attracting a lot of investors have a very clear purpose which they share with the world,” he said. “For example, Saudi Arabia’s Vision 2030 [is] super clear.”
Al Salem, who participated as a speaker at the summit, said Pakistan needed to work on its image abroad.
“Changing people's perspectives on Pakistan is very important,” she maintained.
The Kuwaiti expert advised Pakistan to focus on the agriculture sector for addressing food shortage concerns that countries around the world are facing, saying the South Asian nation was blessed with water resources which can help it increase its overall yield.
UAE-based firm partners with Pakistani software house to provide healthcare services to Saudi Arabia
https://arab.news/28j7s
UAE-based firm partners with Pakistani software house to provide healthcare services to Saudi Arabia
- The firm’s CEO says it will start with healthcare sector before expanding operations elsewhere in the kingdom
- A Middle Eastern investment expert asks Pakistan to improve its image abroad and focus more on agriculture
’Significant progress’ in IMF review triggers bull run at Pakistan stock market
- The KSE-100 index gained over 1,000 points to close the week’s first session at 116,199.59 points
- The index may rise to a record 123,000 points by June, if Pakistan clears IMF review, analyst says
KARACHI: Pakistan’s stocks rallied on Monday and rose 0.6 percent to the highest close in more than two months as the International Monetary Fund (IMF) gave some positive signals about its ongoing review of the South Asian country’s $7 billion loan program.
The benchmark KSE-100 index gained more than 1,000 points in the day trade before closing the week’s first session at 116,199.59 points, according to stock analysts.
Sana Tawfik, head of research at Arif Habib Ltd, said the stock market could reach 123,000 points by June if Pakistan sails through the first review of the IMF program.
“This is the highest since January 6,” Tawfik said, citing two main reasons for Monday’s bullish run.
“One is the IMF that issued a statement saying significant progress has been made [in talks with Pakistan] toward reaching the staff-level agreement. [Secondly], the overall sentiment is positive.”
The Washington-based lender put all speculation about its negotiations with Islamabad to an end, when its mission chief, Nathan Porter, said last week the two sides had made “significant progress” toward reaching an accord.
“The mission and the authorities will continue policy discussions virtually to finalize these discussions over the coming days,” Porter said on March 15.
The IMF team stayed in Pakistan for more than two weeks and reviewed the country’s economic reforms under its Extended Fund Facility as well as a fresh loan of about $1.5 billion to increase its climate resilience and sustainability.
“The IMF described the progress of the $7 billion loan program as ‘strong’ despite the absence of a staff-level agreement,” said Naveed Nadeem, a senior equity trader at Topline Securities Ltd., in a note to clients.
Monday’s rally was driven by Mari Energies, Pakistan State Oil, Oil & Gas Development Company Ltd. Lucky Cement and Searle Pakistan that collectively added 658 points to the benchmark index at the Pakistan Stock Exchange.
The equity market also gained some strength from reports of the government’s plan to resolve the longstanding issue of power sector debt, or the circular debt, according to analysts.
“This performance was influenced by the government’s initiatives to tackle Pakistan’s power sector debt,” Nadeem added.
Pakistan calls Indian PM’s remarks about regional peace ‘misleading and one-sided’
- PM Narendra Modi said in a recent podcast that India’s attempts to foster peace with Pakistan were ‘met with hostility and betrayal’
- India’s ‘fictitious narrative of victimhood’ can’t hide its involvement in fomenting militancy on Pakistan’s soil, Islamabad says
ISLAMABAD: Pakistan’s Foreign Office on Monday said Indian Prime Minister Narendra Modi’s recent remarks on a podcast about regional peace were “misleading and one-sided,” criticizing New Delhi for “conveniently” omitting the Kashmir dispute from discussions.
Modi, in a podcast with American computer scientist and podcaster Lex Fridman released on Sunday, said that India’s attempts to foster peace with Pakistan were “met with hostility and betrayal” and hoped that “wisdom would prevail” on the leadership in Islamabad to improve bilateral ties.
In response to Modi’s remarks, the Pakistani Foreign Office said India’s “fictitious narrative of victimhood” could not hide its involvement in fomenting militancy on Pakistan’s soil and the “state-sanctioned oppression” Indian-administered Kashmir.
The Muslim-majority Himalayan region of Kashmir has been a flashpoint between Pakistan and India since their independence from the British rule in 1947. Both Pakistan and India rule parts of the Himalayan territory, but claim it in full and have fought three wars over the disputed region.
“Instead of blaming others, India should reflect on its own record of orchestrating targeted assassinations, subversion and terrorism in foreign territories,” it said in a statement.
“Pakistan has always advocated constructive engagement and result-oriented dialogue to resolve all outstanding issues, including the core dispute of Jammu and Kashmir.”
The statement by the Pakistani Foreign Office was a reference to allegations against Indian agents of plotting assassinations in the United States (US) and Canada.
In Jan. 2024, Pakistan also accused India of “extraterritorial” and “extrajudicial” killings of two of its citizens on Pakistani soil, while it has consistently accused India along with other countries of fomenting militancy in its western provinces, particularly Balochistan.
New Delhi denies all allegations.
The Pakistani Foreign Office further said that peace and stability in South Asia have remained “hostage to India’s rigid approach and hegemonic ambitions.”
“The anti-Pakistan narrative, emanating from India, vitiates the bilateral environment and impedes the prospects for peace and cooperation,” it said.
“It must stop.”
Pakistan’s power generation dropped 15% MoM during February— report
- Pakistan’s power generation cost declined by 13% year-on-year and 30% month-on-month during February 2025, says report
- Financial analysts attribute power generation decline to a lack of industrial activity, increasing shift toward solar energy
KARACHI: Pakistan’s power generation dropped by 15% month-on-month (MoM) in February 2025, a report by a top brokerage firm said on Monday, which analysts attributed to reduced demand due to slow industrial activity and an increasing shift of customers toward solar energy.
According to a report by brokerage firm Topline Securities, total electricity generation dropped by 3% year-on-year to 81,738 GWh over the first eight months of the fiscal year 2024-25 (from July-February). This was down from 84,317 GWh in the corresponding period last year, it said.
“Pakistan’s power generation decreased by 2% YoY and 15% MoM to 6,945 GWh in Feb 2025,” Topline Securities said.
The report cited a decline of 13% in power generation cost YoY and 30% MoM in February 2025, adding that in the first eight months of the current fiscal year, power generation cost declined by 3% to Rs8.8 per unit.
Financial analysts attributed the decline in power generation due to reduced demand as a result of lack of industrial activity and an increasing number of people shifting toward solar energy.
“There is reduced demand due to industrial activity which you can also see in the large scale manufacturing (LSM) numbers,” Muhammad Waqas Ghani, head of research at JS Global Capital Ltd., told Arab News.
He said another reason for the decline in power generation was the increasing shift of residential consumers toward solar energy. He said commercial consumers had also installed their own captive plants that run on gas and coal.
“This also shows a shift toward alternative [sources of energy] which decreases the grid’s usage,” he added.
Samiullah Tariq, the head of research at Pakistan Kuwait Investment Company Ltd., agreed.
“Reasons include reduced industrial activity, people leaving the [national] grid due to higher [energy] prices and solar adoption,” Tariq said.
Pakistan has sought to ease fiscal pressure in recent months by undertaking energy reforms that reduce tariffs and slash capacity payments to independent power producers (IPPs). The federal cabinet approved a plan in January to renegotiate agreements with 14 IPPs in its bid to lower electricity costs and addressing the mounting circular debt.
Amid militancy surge, sale of toy guns, firecrackers banned in Peshawar ahead of Eid
- Peshawar district administration imposes ban for 30 days, warns violators will face legal action
- Peshawar district administration imposes ban for 30 days, warns violators will face legal action
ISLAMABAD: The administration in Pakistan’s northwestern Peshawar district recently banned the sale of toy guns and firecrackers for a period of 30 days to discourage “militant tendency” among children and foster a peaceful atmosphere ahead of Eid-Al-Fitr 2025, an official notification said.
Children playing with toy guns and firecrackers on public holidays such as Eid is a common sight in Pakistan. The district administration in Peshawar bans traders from selling toy guns every year before Eid holidays to discourage gun culture in the country.
In a notification dated Mar. 15, Peshawar’s Deputy Commissioner Sarmad Saleem Akram announced he was imposing a ban on the sale of toy guns and firecrackers effectively immediately for 30 days under section 144 of the Code of Criminal Procedure.
“I, deputy commissioner Peshawar, in exercise of powers conferred on me u/s 144 Cr.PC, do hereby order and impose ban on sale of toy guns and fire crackers etc within the limits of district Peshawar,” the notification said.
“And whereas, to discourage nurturing of militant tendency and to maintain peaceful atmosphere of the district during Eid-Al-Fitr 2025, it is imperative to curb the menace.”
The notification said authorities would take action against anyone violating the ban, including shopkeepers and customers.
The development takes place as Pakistan witnesses a surge in militant attacks in its western provinces bordering Afghanistan, especially the northwestern Khyber Pakhtunkhwa (KP) province. Islamabad accuses the government in Kabul of sheltering militants and facilitating cross-border attacks, a claim Afghanistan strongly denies.
Pakistan revives Rajian-11 heavy oil well with advanced artificial lift technology
- Rajian-11 was suspended since 2020 due to formation challenges, expected to produce 1,000 barrels of oil a day
- ESP systems are common and efficient way to lift oil and gas from wells that are too deep, have low pressure for natural flow
ISLAMABAD: Pakistan’s Oil & Gas Development Company Limited (OGDCL) has revived production at heavy oil well Rajian-11 by installing an advanced air lift system, state broadcaster Radio Pakistan said on Monday.
Extending to 3,774 meters, work at Rajian-11 had been suspended since 2020 due to formation challenges, the company’s filing on PSX said last week.
The oil field is located in District Chakwal and fully owned and operated by OGDCL under Gujar Khan E.L. It was discovered in August 1994 and has remained a key asset in the company’s portfolio.
Crude oil production in Pakistan increased to 64 BBL/D/1K (barrels of crude oil per day per 1,000) in November 2024 from 62 BBL/D/1K in October of 2024. Crude oil production in Pakistan averaged 68.67 BBL/D/1K from 1993 until 2024, reaching an all time high of 97.00 BBL/D/1K in December of 2016 and a record low of 50.00 BBL/D/1K in April of 1999, according to the US Energy Information Administration.
“OGDCL has started oil production from the Rajian-11 heavy oil well located in Chakwal district,” Radio Pakistan reported.
“Rajian-11 heavy oil well had been inactive since 2020 but it has been reactivated with the help of an advanced artificial lift system,” the broadcaster added, referring to the installation of an Electrical Submersible Pump (ESP).
The well is expected to produce one thousand barrels of oil per day.
ESP systems are a common and efficient way to lift oil and gas from wells that are too deep or have low pressure for natural flow. A submersible electric motor is placed at the bottom of the well, and it drives a multistage centrifugal pump that lifts the fluids. ESPs are suitable for wells with low bottomhole pressure, low gas/oil ratio, high water cut, and low API gravity fluids.
“This achievement underscores OGDCL’s commitment to maximizing hydrocarbon recovery and operational efficiency, reinforcing its position as a leader in Pakistan’s energy sector,” OGDCL’s PSX filing said.
“The Company successfully completed the well with an ESP in Tobra, Jutana, and Sakesar formations, restoring production to 1,000 barrels per day (BPD) of oil.”
