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PM Imran directs PIA to devise a comprehensive business plan to cut losses

ISLAMABAD: Prime Minister Imran Khan on Tuesday directed the Pakistan International Airlines (PIA) chairman to devise a comprehensive business plan to overcome losses.    Chairing a high-level meeting on reforms in PIA, the prime minister said that the government wanted to make national flag carrier a profit-generating and independent airline. PIA officials informed the prime minister that the total losses of PIA are Rs. 414.3bn. They told the meeting that PIA is facing a deficit of 500 million rupees on seven…

Shanghai Electric unveils $9 bn business plan for K-Electric

ISLAMABAD: China's Shanghai Electric plans to spend $9 billion overhauling electricity infrastructure in K-Electric, just months after the multinational revealed it was buying the power company. China is ramping up investment in Pakistan as part of a $46 billion project unveiled last year that will link its far-western Xinjiang region to Gwadar port with a series of infrastructure, power and transport upgrades. In a presentation made to Pakistani authorities, Shanghai Electric said it would invest an average of $700…