It seems like the deadlock between both the parties is coming to an end. Finance Minister Ishaq Dar said that Pakistan and International Monterey Funds (IMF) will reach an agreement this week. Dar also added while talking to the media that all matters have been resolved and his ministry is making serious efforts to get […]
Pakistan is on the verge of getting bankrupt and urgently needs the International Monterey Fund’s (IMF) help to come out of this chaos. Both the parties are holding talks to reach an agreement for $1.1Bn. IMF Managing Director, Kristalina Georgieva has asked Pakistan to tax the rich, subsidise the poor. She further said that if […]
P&G Pakistan, a leading global consumer goods company, has been named the Champion of 2022 at the annual OICCI Women Empowerment Awards. The award ceremony was held at the Overseas Investors Chamber of Commerce and Industry’s (OICCI) HQ in recognition of P&G’s efforts towards promoting diversity and gender equality in the workplace. The OICCI, which […]
In a new turn of events, Maryam Nawaz Sharif from Pakistan Muslim League – Nawaz (PML-N) disowns the PML-N federal government a day after mini-budget was presented. The new Mini-budget comes with a lot of heavy taxes and price hikes which may impact the popularity of ruling party. Considering all this, the PML-N ‘s Chief […]
The federal government has issued New Petrol Prices in Pakistan to a historic high in a bid to appease the International Monetary Fund (IMF) for unlocking the critical loan tranche, hours after unveiling a tax-loaded ‘mini-budget’. The new prices will come into effect from 12 am tonight, a press release from the Finance Division read. […]
The Pakistan Cricket Board (PCB) has secured broadcasting rights for PSL 2023 matches with Pakistan Television (PTV) and ARY News, after the Sindh High Court (SHC) ruled out Geo Super’s involvement in airing the matches. The court made its decision in response to ARY News’ appeal after Geo Super had started airing the PSL 2023 […]
The government increased price of natural gas by more than double on Monday to revive International Monetary Fund (IMF) Program. The 113% increase in price is done to recover Rs 310 billion from consumers in the next six months. After the recent hike, consumers are now burdened with Rs 736 billion in the name of […]
Tower 21 is the tallest residential tower located in the heart of Lahore. After completing mega projects in 7 different cities of Pakistan, CitiHousing has now laid its foundations in Lahore. It has received immense positive acknowledgment for the project. The construction work is meticulously going on. We have successfully completed three dedicated basements and […]
The global recession has started to hit Pakistani IT Industry too. CEO Daraz Bjarke Mikkelsen recently said that the company is cutting off 11% of its workforce. He said, “In the last quarter of 2022, funding declined causing job layoffs, starting with Daraz in Pakistan ” Nasheed Malik, Topline Securities ICT analyst told the media, […]
The Sindh Board of Films Censor has asked Fireworks Events to discontinue public screening of the Indian movie Pathan in different areas of DHA, Karachi. In case of failure to do so, the company may face punishment for 3-4 years or a fine as high as Rs.100,000. The Sindh Board of Films Censor found some […]
The Pakistan Telecommunications Authority (PTA) recently published its Annual Report 2022 in which it is revealed that the administrative expenses of the organisation skyrocketed by 239% in just four years. The expenses were around 1 billion four years ago and were recorded 3.5 billion in 2022. According to the report, Rs 926 million were given […]
In 2022, the number of apps downloaded by Pakistanis rose to 35.4 % compared to the same period last year. This makes Pakistan the fastest-growing apps market globally, according to a report published by Data Darbar. The growth rate of Pakistan was 26.8% in 2021, which increased to 35.4pc in 2022. This is around 3 […]
Sindh Government takes yet another initiative to support women empowerment in the province by launching Pink People’s Bus Service in Karachi. The bus service was inaugurated by Minister Sharjeel Memon in order to offer safe, secure, convenient and comfortable mode of transportation to women. Right now, there are 8 Pink buses that will operate from […]
Pakistan is going through the worst economic crisis. It is speculated that inflation is likely to reach 27% in January. This is in comparison to the central bank’s anticipated average of 21-23% for the current financial year It is also anticipated that the government will further increase the prices of power and gas after which […]
The Steel Industry fears closure of businesses and major job cuts in the wake of recent failure to open LCs (letters if Credit) by banks. The Industry is already facing shortage of raw material due to the import ban. Consequently, the production is delayed and the companies are suffering from financial losses, according to the […]
The social media was abuzz with rumours for the last few weeks that the fee for machine readable passports is going to be increased in the days to come. However, the Interior Ministry has squashed all those rumors and have stated that there will be no change in fee for those passports. The Spokesperson of […]
Pakistani rupee has hit a new all-time low when it was trading at Rs 270/$ today. This makes the Rupee worst ever performing currency in Asia. The government recently announced to lift cap on currency exchange and let the market determine the value of the Rupee. Since then, the Rupee has been depriciating. Pakistan has […]
Lucky Motor Corporation (LMC) issued a statement on Friday announcing that due to the sharp decline in the Pakistani Rupee, they will no longer be accepting any new reservations for KIA vehicles. The statement noted that the corporation values treating consumers fairly and openly, but the situation with the Rupee has made it impossible for […]
Pakistan has asked for the US help to revive the IMF program to assist soft landing of its economy post devastating floods and economic crisis. A meeting was held on Wednesday in which Ishaq Dar, Pakistan’s Finance Minister, requested a US Delegation to convince the multilateral lender in the Washington DC to be a little […]
Naveed Qamar, Federal Minister for Commerce and Investment, said that promotion of data science and IT are very important to combat future challenges. He also said that Data Protection Bill 2021 will strengthen the IT and Digital economy of Pakistan. Qamar was addressing to a conference “Accelerating Silicon Valley Technology Investment in Pakistan” organized by USAID […]
