Islamabad, Aug 4: The Pakistani rupee (PKR) opened trading at 278 in the interbank market, losing value versus the US dollar for the third day in a row. The day’s trading remained steady, although it ended in red compared to the US dollar. During today’s session, it recorded gains against the majority of the other major currencies. The interbank rate closed at 278/$, where it had spent the majority of the day. Today’s open market rates were rigidly set at the 278 level across a number of currency exchanges. The PKR lost six paisas versus the US dollar today, depreciating…
Author: Iqra Khan
Islamabad, Aug 4: The Auditor General of Pakistan found anomalies in the payment of Rs. 20.654 million to workers of the Universal Service Fund (USF), which is overseen by the Ministry of IT and Telecom (MoITT). A monthly fuel ceiling was paid to officers above the management level during the 2022–2023 fiscal year, in addition to the Rs. 13.532 million vehicle monetization allowance that was previously given to them, according per the audit report. According to the audit, the twofold benefit provision violated good internal control criteria that are relevant to public sector enterprises. The audit report states that all…
Islamabad, Aug 4: The formal visit of Chinese Premier Li Qiang to Pakistan next month will mark a significant milestone in the ongoing growth of ties between the two countries. The visit’s timing has been confirmed by official sources to be between October 14 and 16. The trip happens at a critical juncture for Pakistan-China relations, following Prime Minister Shehbaz Sharif’s most recent visit to Beijing. During his three days in Pakistan, Premier Li Qiang is expected to have high-level discussions for bilateral cooperation. There will be two separate parts to the visit. Premier Li is scheduled to arrive in…
Islamabad, Aug 4: The Glade Vista Residence layout plan, which was set for 63 Kanals of apartments on the Murree Road Expressway in Zone-IV Islamabad, has been formally revoked by the Capital Development Authority (CDA). Glade Vista Builders (Pvt) Limited, the project’s sponsor, did not complete the necessary terms and conditions as stipulated by the authority.According to clause 26 of the Revised Modalities & Procedures (2020) for Vertical Apartments, the layout plan was first approved. Nonetheless, on February 7, March 6, March 27, and May 2, 2024, Glade Vista Builders received several notices from CDA requesting that the business adhere…
Islamabad, Aug 4: The Prime Minister Shehbaz Sharif gave an excavator operator in the Balochistan region of Qilla Abdullah Rs 2.5 million for saving a family that was stranded in the flood. The prime minister thanked the rescuer Mohibullah for his bravery in risking his own life to save the stranded family and welcomed them to the Prime Minister’s House. “You have my admiration and that of the entire country. I am so in love with your humanity. The prime minister praised you as a national hero for having the bravery to save lives. He claimed that by saving the…
Islamabad, Aug 4: The provincial government of Sindh is offering several advantages to both domestic and foreign businessmen to make investments in the province, according to Provincial Minister for Industries and Commerce Jam Ikramullah Dharejo. He claimed that doing business in Karachi used to be challenging. The Sindh government’s initiatives have made it simpler for businesspeople to conduct transactions throughout the province, particularly Karachi, for industrialists and other business community members. In the province, new industrial zones are also being created. When he was at the Karachi Expo Center for the Expo Conference and Pak-Indusstria, Gateway to Industrial Future, he…
Islamabad, Aug 4: A public alert has been released by the Securities and Exchange Commission of Pakistan (SECP) about the rise in fake social media and WhatsApp groups that pose as investment education programs. To trick the public, these outfits pose as respected international financial institutions or well-known local and international business figures. In exchange for membership dues, the operators/handlers of these clubs promise members unique access to investment instruction and insider recommendations. The SECP alerts the public to the fact that these actions are deceptive and intended to steal from innocent individuals. The SECP strongly advises the public to…
Islamabad, Aug 4: J.P. Morgan Pakistan CEO Amin Mohammad Khowaja led a delegation of foreign investors in a meeting with Federal Minister for Finance and Revenue Muhammad Aurangzeb. According to a statement from the Finance Division, the focus of the high-level talks was the institutional investors’ interests in learning more about fixed-income investment opportunities in Pakistan’s economy. The statement said, “The talks covered a range of potential investment areas, including information technology, infrastructure development, renewable energy, and the financial sector.”As a result of “recognizing Pakistan as a market with immense potential and a strategic location as a gateway to regional…
Islamabad, Aug 3: Zahir Shah Toru, the food minister for Khyber Pakhtunkhwa, stated on Monday that the greatest amount of plantation is required to combat the detrimental impacts of environmental degradation and climate change. The KP Chief Minister’s Awami Agenda prioritizes plantation, with massive tree planting taking place around the province. He was speaking at a celebration held in Sheikh Multoon Town Sector (I) to mark the launch of the Sheikh Multoon Plantation Program. He planted seedlings in the sector park to formally launch the program.In four days, the park plantation program will be finished. On this occasion, there were…
Islamabad, Aug 3: According to the Federal Flood Commission (FFC), all of the major rivers in the Indus River System Jhelum, Chenab, Ravi, and Sutlej are releasing their normal flows, with the exception of the River Indus, which is now experiencing “Low Flood” conditions at Guddu Barrage and “Medium Flood” conditions at Kotri Barrage. Tarbela Reservoir has been maintained its Maximum Conservation Level (MCL) of 1550.00 feet since August 19, 2024, according to the daily FFC report on Tuesday. At 1224.20 feet, the Mangla Reservoir’s water level is rising slowly and is only 17.80 feet below its mean constant level…
