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Prime Minister Shahbaz Sharif addressed the nation after chairing a meeting of his economic team, in Islamabad, on June 24, 2022. In his address the prime minister addressed the “tough” economic decisions that the current government has to take as the economy was at the brink of bankruptcy. The premier announced that the government would…
During the calendar year 2021, banks nonperforming loans (NPLs) increased 3.8% (Rs31 billion) and Pakistan’s energy sector again continued to remain the largest defaulter in the repayments of loans to banks. In its latest Financial Stability Review of 2021 the State Bank of Pakistan (SBP) reported, “Sector-wise analysis indicates that the rise in overall NPLs…
Records from the Office for National Statistics show May’s inflation was highest since March 1982. The reading was up from 9.0% in April and soaring food prices pushed British consumer price to a 40-year high of 9.1% last month which is the highest rate out of the Group of Seven countries and one which threatens…
The mobile industry is facing the reduction of raw material inventory and operations at major mobile phone assembly are at the verge of discontinuing as the letters of credit (LCs) for import of completely knocked down (CKD) units are not being opened due to the shortage of dollars Since May 20. The State Bank of…
As crude has soared in recent months due to tight supplies of crude caused by Russian invasion of Ukraine will not be enough to meet the demand from reopening of world economies, particularly China as it opens up after a month-long lockdowns. On Wednesday oil prices plunged more than five percent which has made traders…
A day after finance minister Miftah Ismail’s announcement of the agreement of $2.3 billion loan from Chinese banks consortium, the Pakistani rupee showed a sharp recovery by Rs4.7 on Thursday morning in the interbank market. According to the State Bank of Pakistan, the US Dollar closed at Rs207.23 in the interbank market while the previous…
Y Combinator logistics startup Rider has raised $3.1million from YC Demo Day as it pursues to upgrade the logistics space in Pakistan and create next day delivery service just like Amazon. Apart from YC, investors including i2i Ventures, Flexport, Soma Capital and Rebel Fund also joined in the financing round. Global founders Capital, Fatima Gobi…
PayFast by APPS (“PayFast”) is pleased to turn into the first fintech in Pakistan to cooperate with worldwide installments pioneer Visa through Cybersource. Through this collaboration Cybersource is offering its powerful and dynamic computerized installment arrangement suite to PayFast. It incorporates E-business checkout, computerized vendor stage, Fraud Management, and SoftPOS. This drive clears the way…
On Monday, Federal Minister for Revenue and Finance Miftah Ismail being hopeful claimed that the stalled International Monetary Fund’s (IMF) Extended Fund Facility (EFF) would be revived within a day or two. After a meeting held by Senate Standing Committee on Finance the finance minister declared that “I am very hopeful that the IMF programmed…
Netizens are not happy with the undergoing construction of Frere Hall, known for being an unbarred space open for all, that is reportedly going to fence the gardens and will no longer be available for common public. Frere Hall means different things to different people. It has been a picnic spot for many, a Sunday…
Two of top-ranking German companies, Audi in collaboration with Siemens launched Pakistan’s first and only ultra-rapid charging DC station at the Libra CNG station, which is now also known as Libra Charging Hub, in Saddar Karachi. Equipped with Siemens’ SICHARGE D series chargers, the super-fast EV charging station will be capable of charging at speeds…
Fans are excited for Pakistani-Muslim superhero in a Marvel series. The miniseries ‘Ms Marvel’ stars several Pakistani hotshots such as, Nimra Bucha, FawadKhan, Mehwish Hayat and Samina Ahmed and fans are eagerly waiting to find out what character their favourite actors are playing in this series. There had been glimpses of Ahmed and Bucha in…
Who can forget the groundbreaking comedy show 50/50? Fifty Fifty was a satirical show released in 1978 that starred Zeba Shehnaz, Moin Akhtar, Durdana Butt, Ansari, Sakhi Kamal, Ashraf Khan, Iqbal Ansari, Adil Wadia, Ismail Tara, Asma Abbas, Javed Sheikh, Umer Shareef and Majid Jehnagir. The show was written by Anwar Maqsood and directed by…
All credit goes to sleeping international community, who with their deafening silence watch the spectacle of Indian Muslim localities being crushed down by bulldozers and impose punishments on professed rioters. While the long-celebrated democracy fumbles under the concrete rumble and the long arm of heavy machinery making its way ruthlessly in the chambers of alleged…
Being good with finances does not mean just meeting your ends, it means managing your resources or income in efficient way. Life is much easier when you have good skills of managing and organizing your finances. The way you organize your finances shows the impact of your credit score and amount of debt you carry…
Eid-ul-Adha is the festival which is widely celebrated by Muslims around the globe. It is the second most important festival. It marks at the end of Pilgrimage to Makkah. This Eid is also known as the Eid of sacrifice because of Hazrat Ibrahim (a.s) devotion for Allah. Advance Eid Preparation For most of us this…
The cricketer’s community often finds its way back to the field like a homecoming pigeon because once you have played it is very hard to let go of this game. Yu can say that veteran cricketers have always had a second inning even far after their more active career on the cricketing circuit. Lately, globally…
The direct result of climate change by rising temperatures in Pakistan and India is water, food and biodiversity insecurity which may become worst in upcoming years, told environmentalists of the region. An exceptionally high heat wave is hitting two nuclear-armed neighboring countries with temperatures reaching 51 degree Celsius in Pakistan and 49 degree Celsius in…
After setting up the assembly unit in Pakistan, just in a time period of six months, HMD global, the home of Nokia phones has achieved the milestone of production of over one million locally assembled mobile phones. Last year HMD global company has partnered with Techno Pak Electronics (private) Limited in setting up the assembly…
Laraib Atta, visual effects artist and daughter of renowned folk singer Attaullah Khan Esakhelvi, I currently based in London is corresponding to The George Lucas Company. She has worked on various internationally celebrated films, commercials and documentaries including the famous movies like No Time to Die, Fast and Furious Nine, Tenet, Chernobyl and Doctor Strange…
MCB’ Chairman Mian Mohammad Mansha “Pakistan’s biggest problem is not corruption; its incompetence” has hit hard like a bomb in the ongoing economic crisis. This statement could be ignored as naivety of a rich man, except it is getting harder to dismiss these comments every passing day. Even in Urdu literature tradesmen and businessmen are…
A delegation based on 10 members by Auqaf authorities visited Gurdwara Pehli Pat Shahi in Daska. Habibur Rehman Gillani, the evacuee trust board chairman said that the condition of gurdwara is quite shabby which will be demolished and its reconstruction will begin soon. During his visit to Fateh Bhandar village, Prime Minister Shehbaz Sharif took…
After the untimely demise of her father, a young woman from Karachi has taken up the hard task of joining a male-dominating profession of driving an auto-rikshaw to support her family in this era of rising inflation and unemployment. Late Abdul Jameel, a rickshaw driver had no son and he had prepared his youngest daughter…
As reported by UNICEF, the infant morality rate in Pakistan is the worst in the world despite major progress during last few decades. Because of lack of resources and economic situation the rising number of healthcare problems in Pakistan is concerning. Pakistan’s 60 million people live in poverty and have no access to healthcare if…
On Friday, in the National Assembly the combined government has introduced the so called ‘progressive’ budget for the Fiscal Year 2022-2023 with an outlay of Rs9.5 trillion in the middle of strict conditions for the revival of $6 billion loan programme stalled for months over violation of policies, by International Monetary Fund (IMF). Finance and…
With a record amount deficit and spiraling inflation everyone had been apprehensively waiting for the budget, to see how the government would proceed in one of the worst time periods in Pakistan’s economic history. The government has put forth the budget policies ranging from controlling deficit to urgency of returning to IMF program and boosting…
Dr Aamir Liaqat Hussain, one of the most controversial, extremely popular TV industry personality and a politician passed away on Thursday. He was the son of politician Sheikh Liaquat Husain born in Karachi in 1972. The multi-talented Aamir Liaquat slipped into many roles throughout his career. He started his career journey as a journalist and…
The “progressive, pro-people and business friendly” budget for the Fiscal Year 2022-2023 approved by present government is all set to be rolled out on June 10, which is also focused on increasing revenues. Few months back the government was more inclined to revive its multi-billion dollar deal with International Monetary Fund (IMF) programme but with…
In order to provide internet services to about 3.3 million people in the un-served and under-served areas of Balochistan, Punjab, Sind and Khyber Pakhtunkhwa (KPK) provinces, the Universal Service Fund (USF)Board has approved the awards of 8 contracts worth over PKR 10 billion through High-Speed Broadband services and Optic Fiber Cable (OFC). These contracts were…
The International Monetary Fund (IMF) has demanded from Pakistan’s government to re-consult the China-Pakistan Economic Corridor (CPEC) energy deals before the payments of 300 billion to the Chinese power plants which has put Islamabad into tight position. These power plants were established under the 1994 and 2002 power policies under the CPEC framework agreement which…