Author: Mawadat Fatima

Islamabad, Jan 24: The President of the SITE Association of Industry Karachi, Ahmed Azeem Alvi, has called for reducing the policy rate to a single digit in light of the decrease in inflation. He emphasized that providing loans at lower rates is crucial for industries to establish a presence in international markets. He stated that the State Bank of Pakistan should seriously consider this demand in the country’s best economic interests, so that the industrial community can effectively address issues such as high production costs and other financial challenges. In a statement released on Friday, the SITE president stated that…

Islamabad, Jan 24: As the second Test between Pakistan and the West Indies draws near, it is clear that Pakistan will likely maintain the same squad from the series opener. This consistency reflects the team’s confidence in its current lineup, which blends experienced players with fresh, promising talent. Here’s a closer look at the expected lineup for the upcoming match: Pakistan’s Likely Lineup for the 2nd Test Shan Masood (c) – Captain, opening batter Muhammad Hurraira – Opening batter Babar Azam – Top-order batter Kamran Ghulam – Middle-order batter Saud Shakeel – Middle-order batter Mohammad Rizwan (wk) – Wicketkeeper-batter Salman…

Islamabad, Jan 24: The Cabinet Committee on Rightsizing of the Federal Government convened today under the chairmanship of Federal Minister for Finance and Revenue, Muhammad Aurangzeb, who joined the meeting virtually from Davos, Switzerland. The Revenue Division updated the committee on recent actions to streamline operations. These include abolishing 158 positions (BS-18 and below) and designating 27 posts (BS-16 to 20) as “dying posts.” The Cabinet made these decisions on August 27, 2024, to optimize government functions. Addressing the challenges faced by the Federal Board of Revenue (FBR), the Revenue Division proposed a one-time exemption from the requirement to abolish…

Islamabad, Jan 24: The Hashoo Foundation, in collaboration with Sunbeams, proudly launched the transformative Pakistan 100 for 100 Movement (PK100) today. The movement aims to promote access to universal education for every citizen in Pakistan by its centennial in 2047. As the technical lead partner, Hashoo Foundation is building on over three decades of dedicated efforts to promote inclusive access to education, marking a significant milestone in the nation’s journey towards a brighter future. The PK100 pilot project will launch in Islamabad, beginning with a Union Council-level approach and gradually expanding to a district-wide model. This phased rollout will provide…

Islamabad, Jan 24: Colony Textile Mills Limited (CTM), a prominent textile manufacturer listed on the Pakistan Stock Exchange (PSX), has announced the closure of its weaving division, effective January 31, 2025. The recent PSX filing revealed this decision, following ongoing challenges the company has faced, as detailed in earlier reports. The company stated that multiple factors impacted its operations, leading to the decision to shut down the weaving division. These include challenges within the industry, market dynamics, and internal operational hurdles that have made it increasingly difficult to maintain sustainable production levels. As a result, the management has opted for…

Islamabad, Jan 24: In a move aimed at enhancing the convenience for overseas Pakistanis residing in the UK, the National Database & Registration Authority (NADRA) has announced an exciting new initiative. On January 25 and 26, 2025, NADRA’s mobile registration team will be in Bradford and Manchester to offer on-the-spot assistance for essential documentation needs. This service brings NADRA’s services directly to the doorsteps of Pakistanis living in the UK, eliminating the need for individuals to travel long distances or deal with lengthy procedures. The mobile registration team will be offering a variety of services, including: Smart National Identity Cards…

Islamabad, Jan 24: Dr. Amjad Ali, Special Assistant to the Chief Minister on Housing, announced that the government will start the first phase of a housing project in Haripur within three to six months. This announcement came during a meeting with a survey team, accompanied by MPA Akbar Ayub Khan, former minister Yousuf Ayub Khan, and senior officials from the KP Housing Authority, C&W, and local government departments. Dr. Amjad Ali emphasized the provincial government’s commitment to fulfilling Chief Minister Ali Amin Gandapur’s vision of establishing modern housing communities across the region. Following an extensive survey, the KP Housing Authority…

Islamabad, Jan 24: The ICC Awards 2024 are poised to spotlight the outstanding cricketers who have excelled in international cricket over the past year. Spanning five days of celebrations starting Friday, January 24, the event promises to recognize exceptional talent and remarkable performances, showcasing the very best from the world of cricket. Highlights of the Awards Schedule The ICC Awards 2024 will feature daily announcements of both team and individual accolades. Here’s a detailed look at the schedule: Friday, January 24: Unveiling of the Men’s ODI Team of the Year, Women’s ODI Team of the Year, and Men’s Test Team…

Islamabad, Jan 24: Salim Valimuhammad, Chairman of the Pakistan Chemicals & Dyes Merchants Association (PCDMA), has urged the Governor of the State Bank of Pakistan to reduce the policy rate to a single-digit, citing a decrease in the inflation rate. This move, he believes, will boost business activities and have a positive impact on the economy. In a statement, Chairman PCDMA emphasized that the Monetary Policy Committee should consider the decreasing inflation rate and significantly reduce the interest rate. This reduction will encourage the business community to borrow from banks at a lower cost and address the capital shortage. He…

Islamabad, Jan 24: The Sindh government has formally requested the federal government to assist Pakistan Gas Solutions Limited (PGSL) in securing the necessary permissions to conduct a feasibility study for the development of the Keti Bander Port. The Energy Department of Sindh has addressed this request to the Federal Secretary of the Ministry of Maritime Affairs, highlighting the importance of developing the port to accommodate LNG, RLNG, LPG, containers, and general cargo. In a letter dated July 10, 2034, PGSL expressed its interest in advancing the Keti Bander Port project and requested authorization to carry out a comprehensive feasibility study.…