Pakistan’s economy faced a blow on Friday, when the rupee dropped to a record low against the dollar after Prime Minister Shehbaz Sharif mentioned that the International Monetary Fund (IMF) was giving the government a difficult time. The domestic currency declined by almost 1%, reaching a new low of Rs 271.36 against the dollar, compared […]
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 […]
A earthquake of magnitude 4.3 hit different areas of Lasbela, Balochistan on Thursday morning. The Meteorological Department of Pakistan has reported that the epicenter of the earthquake was 56km northeast of Bela and its depth was 41km. The exact time of earthquake was 8:44am with a longitude of 66.67 East and a latitude of 26.67 […]
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 […]
Gilgit-Baltistan, located in the northernmost region of Pakistan, is a place of unparalleled natural beauty and rich cultural heritage. This region is home to some of the world’s tallest peaks, including K2, as well as stunning glaciers, rolling hills, and pristine rivers. The region is also renowned for its vibrant cultural traditions and diverse communities, […]
Inflation in Pakistan has reached a record high, as consumer prices rose 27.6% in January compared to 13% in the same month of the previous year. This is the highest year-on-year inflation since May 1975. The inflation rate has been over 20% since June and is due to supply constraints for food products, the recent […]
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 […]
Following the devaluation of the rupee against the dollar, Finance Minister Ishaq Dar Sunday announced that the price of petrol and diesel will go up by Rs35 from 11am today. Meanwhile, the prices of kerosene oil and light diesel oil have been increased by Rs18 in Pakistan. The increase comes after the rupee hit a […]
Pakistan is a country with a population of over 220 million people. The distribution of the population in terms of income can be divided into three main categories: lower, middle, and upper class. Lower-Class Percentage in Pakistan The lower class in Pakistan is made up of individuals who earn less than the national poverty line, […]
Pakistan’s education system is far behind other countries for a variety of reasons. One major issue is a lack of funding for education. The government of Pakistan allocates a very small portion of its budget to education, which means that schools and universities do not have the resources they need to provide quality education. Another […]
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 […]
IT is one of the leading sectors of Pakistan in terms of revenue and is included in the top 5 export earning sectors. The IT moguls and leaders have requested the government to revisit policies as the existing ones are hurting foreign investment in the country. The businessmen urged the government to take immediate action […]
Pakistan is facing a number of challenges in 2023, and to come out of this, Pakistan definitely needs some planning and consistency. Pakistan is 75 years old now, but still lacks and faces so many challenges with the passage of time. Political instability in Pakistan: Pakistan has a history of political instability, and this is […]
The cap will be removed from 25th January onwards and now rupee will be allowed to depreciate as per its actual value. Earlier, the currency dealers have unanimously decided to keep the rupee overvalued artificially in the open market against Dollar. After the announcement, is it speculated that Rupee would devalue fast and will near […]
