The price of 24 karat gold per tola in Pakistan remained unchanged on Monday, holding steady at Rs. 262,500, according to the latest data from the All Sindh Sarafa Jewelers Association. Similarly, the prices for 10-gram 24 karat and 10-gram 22 karat gold also saw no change, staying at Rs. 225,051 and Rs. 206,297, respectively. […]
Indus Motor Company Limited (PSX: INDU), the assembler of Toyota vehicles in Pakistan, has announced an additional investment of Rs. 1.1 billion to further localize the production of auto parts and components. This move is part of a broader strategy to enhance the local manufacturing capabilities of the company and reduce reliance on imported parts. […]
The Privatization Commission Secretary has confirmed that the sale of Pakistan International Airlines (PIA) will be completed by October 1st. This announcement marks a significant step in the government’s ongoing efforts to privatize state-owned enterprises and improve their efficiency. The Privatization Process The privatization of PIA has been a long-standing issue, with several attempts made […]
Pakistan’s export landscape has evolved significantly, with the United States, the United Arab Emirates (UAE), and the United Kingdom (UK) emerging as the top three destinations for Pakistani products. These markets play a crucial role in driving the country’s export growth and economic development. The Importance of the US Market The United States remains Pakistan’s […]
Pakistan’s thriving startup ecosystem is expanding its horizons, with the Pakistani Embassy in Saudi Arabia taking the lead in facilitating market entry for local businesses. This strategic move aims to capitalize on the Kingdom’s burgeoning economy and vast opportunities for growth. The embassy’s initiative involves providing a range of support services to Pakistani startups, including: […]
Two Pakistani startups, DealCart and NayaPay, have made history by being included in Forbes Asia’s prestigious “100 to Watch” list for 2024. This recognition underscores the burgeoning entrepreneurial spirit and technological innovation taking place in Pakistan. DealCart, a Karachi-based online grocery platform, has captured the attention of investors and consumers alike with its convenient and […]
Pakistan has received its first shipment of Chinese broiler eggs, marking a significant milestone in the country’s efforts to meet the growing demand for poultry products. This inaugural consignment of homegrown white broiler eggs from China was successfully delivered to Pakistan via a flight from Guangzhou Baiyun Airport, highlighting an important development in the agricultural […]
Prime Minister Shehbaz Sharif has extended an offer of assistance to Bangladesh in response to the severe floods that have recently devastated the country. In a letter addressed to the Chief Advisor of Bangladesh, Dr. Muhammad Yunus, the Prime Minister conveyed his deep sorrow over the catastrophic impact of the floods and expressed Pakistan’s solidarity […]
Yango Introduces Express and Cargo Tariffs in Lahore, Islamabad, and Karachi ISLAMABAD: Yango Group, a global tech company that creates daily services, has officially launched delivery service in Pakistan’s three largest cities: Lahore, Islamabad, and Karachi. Following a successful testing period, Yango delivery service is now available within Yango app with two versatile tariffs — […]
The Lahore Electric Supply Company (LESCO) has recently spotlighted several government institutions that have amassed substantial unpaid electricity bills. Among these, Pakistan International Airlines (PIA) stands out as the largest defaulter, with an overwhelming debt exceeding PKR 260 million. This alarming figure places the national carrier at the top of LESCO’s list of defaulters, raising […]
In a significant development, the Asian Development Bank’s (ADB) Country Director for Pakistan met with President Asif Ali Zardari to discuss the country’s ongoing and future economic initiatives. This meeting highlights the strengthening partnership between Pakistan and the ADB, as both parties aim to collaborate on various projects to boost the nation’s economic stability and […]
Pakistan and the United Arab Emirates (UAE) have reaffirmed their commitment to enhancing bilateral relations by exploring new investment opportunities across various sectors. According to a statement issued by Pakistan’s Foreign Office (FO), a high-ranking UAE delegation led by Sheikh Ahmed Dalmook Al Maktoum met with Pakistan’s Deputy Prime Minister and Foreign Minister, Muhammad Ishaq […]
The federal government has accelerated the privatization process of Pakistan’s Electricity Distribution Companies (DISCOs) with significant steps already underway. This major initiative is seen as a crucial move to enhance efficiency and improve service delivery within the energy sector. The developments were disclosed during a high-level meeting co-chaired by Federal Minister for Privatization, Board of […]
In a groundbreaking move to stimulate economic growth in America’s de-industrialized regions, the United States Conference of Mayors has endorsed the Heartland Visa, a new initiative designed to attract skilled immigrants to economically struggling areas. Developed by the Economic Innovation Group (EIG), this visa program aims to bring fresh talent to America’s heartland—regions that have […]
Google for Startups has taken a monumental step in fostering technological innovation in Pakistan by launching an ‘AI Academy’ aimed at empowering startups and advancing the field of Artificial Intelligence (AI) across the Asia-Pacific region. This new initiative is part of Google’s broader commitment to nurturing digital ecosystems in emerging markets, particularly in countries like […]
Master Changan Motors Limited (MCML), a joint venture between Master Group of Industries and Changan International, has taken a bold step toward revolutionizing Pakistan’s automotive industry with the launch of Changan’s electric-first brand, DEEPAL. The unveiling ceremony, held on August 16, 2024, at Dolmen Mall Clifton in Karachi, marked a significant milestone in the country’s […]
Sazgar Engineering Works Limited (SAZEW) is poised to introduce its latest venture into the electric vehicle (EV) market with the upcoming launch of the ORA-07 EV. As a new addition to Sazgar’s lineup, the ORA-07 EV is an imported Completely Built Unit (CBU) under the sub-brand ORA, owned by Chinese automotive giant Great Wall Motors […]
In a significant move aimed at easing the burden on foreign nationals, the United Arab Emirates (UAE) has announced a two-month amnesty for individuals who have overstayed their residence visas. The Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) has introduced this initiative, offering a grace period starting from September 1, 2024, to […]
The Punjab Excise, Taxation, and Narcotics Control Department (PETSCD) has introduced a significant change to the property tax system, marking a shift towards a more standardized and potentially equitable approach. Starting January 1, 2025, the property tax for both commercial and residential properties across the province will be calculated based on the official property prices […]
Pakistan’s automobile sector experienced a steep decline in vehicle sales during July 2024, with a 36% drop in month-over-month (MoM) sales. This decline, largely anticipated by industry analysts, was primarily driven by pre-buying activities in June, as consumers rushed to purchase vehicles before the implementation of new tax measures introduced in the FY25 budget. Data […]
