Islamabad, Jan 5: Despite the government’s efforts to control inflation, the prices of essential commodities, particularly chicken meat, have continued to rise sharply across Pakistan. On Sunday, chicken prices surged significantly, with some areas experiencing nearly double the prices within a week. In Islamabad, the federal capital, the price of chicken meat escalated to Rs880 per kg, up from Rs450 just seven days earlier. Live chicken prices also saw a substantial increase, rising from Rs285 to Rs460 per kg. The cost of desi chicken reached a record high, hitting Rs900 per kg, a stark contrast to the previous prices. The…
Author: Iqra Khan
Islamabad, Jan 5: The federal government has unveiled an ambitious initiative aimed at training 200,000 young individuals in IT skills each year. Federal Minister for Planning and Development Ahsan Iqbal announced the program during a recent ceremony, emphasizing its significance in strengthening the country’s digital economy and empowering the youth. The initiative is expected to provide young people with the tools and knowledge to excel in the rapidly evolving tech industry, enabling them to contribute meaningfully to Pakistan’s economic growth. The minister underscored the importance of this program, stating that it is a step toward positioning Pakistan as a competitive…
Islamabad, Jan 5: The country’s textile sector demonstrated robust growth in the first half of the fiscal year 2024-25, with exports increasing by 9.7 percent to $9.09 billion, compared to $8.29 billion during the same period in the previous fiscal year, according to the Pakistan Bureau of Statistics (PBS). This growth underlines the sector’s resilience amidst challenging economic conditions. In December 2024, textile exports climbed to $1.48 billion, reflecting a 5.7 percent year-on-year increase from $1.4 billion in December 2023. On a month-on-month basis, textile exports also saw a 1.3 percent rise compared to $1.46 billion in November 2024. These…
Islamabad, Jan 5: Elon Musk, the owner of SpaceX, announced on Saturday that he is awaiting approval from the Government of Pakistan to provide Starlink’s satellite-based internet services in the country. Musk’s comment came in response to a tweet highlighting the need for Starlink in Pakistan. This development follows a recent suggestion from Richard Grenell, the U.S. Presidential Envoy for Special Missions, urging Musk to consider Pakistan for Starlink’s internet services. The same day, Pakistan’s Minister of State for IT, Shaza Fatima, confirmed that Starlink Internet Services Pakistan (Pvt.) Ltd. had applied for a license, but noted that the Pakistan…
Islamabad, Jan 5: Chery, a prominent Chinese automaker, is reportedly ending its partnership with Ghandhara Automobiles Limited (GAL), formerly known as Ghandhara Nissan Limited, to align with a new partner in Pakistan. According to sources, the company is planning to collaborate with a financially robust ally, with an official announcement expected soon. This strategic shift aims to strengthen Chery’s presence in the local market. As part of its 2025 plans, Chery intends to introduce its sub-brands, Omoda and Jaecoo, in Pakistan alongside its existing Chery-branded vehicles. This move reflects an aggressive market re-entry strategy, signaling the automaker’s commitment to expanding…
Islamabad, Jan 4: The Balochistan Board of Investment (BBI) has announced plans to host a two-day business summit in Islamabad on January 27 and 28, 2024. The summit aims to gather business leaders, economic experts, and government officials to promote investment opportunities in Balochistan by offering incentives and facilities to investors. Preparations for the summit are underway, with BBI Vice Chairman Bilal Kakar and CEO Abdul Kabeer Khan Zarkoon meeting with Special Investment Facilitation Council (SIFC) Secretary Jahanzeb Khan in Islamabad. During the meeting, the BBI officials updated the SIFC secretary on the summit arrangements, and the SIFC assured full…
Islamabad, Jan 4: On Friday, the stock market continued its bullish performance for the third consecutive session, despite significant volatility during the trading day. The benchmark KSE 100 index initially faced a sharp decline, driven by pressure in the cement sector, which caused the index to drop by as much as 1,540 points, reaching a low of 115,580.02. The downturn in the cement sector stemmed from rumors of a dispute among manufacturers over market share and geographic sales strategies, leading to concerns about market competition and pricing. However, during the second half of the session, investors took advantage of the…
Islamabad, Jan 4: Pakistan’s export of services showed notable growth in November 2024, increasing by 6.51% to $675.69 million compared to $634.39 million in the same month last year. This growth trend has been consistent since February 2024, driven primarily by the rise in information technology exports, despite a dip in August 2024. In terms of rupees, services exports improved by 3.63% to Rs187.713 billion in November, compared to Rs181.131 billion in the same month of FY24. For the first five months of FY25, services exports rose by 7.58% to $3.27 billion, up from $3.04 billion in the previous year.…
Islamabad, Jan 4: The ongoing cold wave in Pakistan is expected to intensify as a westerly wave has entered north Balochistan and western parts of the country, with temperatures set to drop further. According to the Met Department’s daily advisory, night temperatures in most areas, including Karachi, are likely to drop to single digits on Saturday, January 6, 2024. The temperatures are forecasted to remain 4-7°C below normal across most cities. In Karachi, the weather is expected to be cold, dry, and occasionally windy, with the night temperature ranging between 6°C to 8°C. On Friday, the city recorded a minimum…
Islamabad, Jan 4: Lahore continues to grapple with severe air pollution, maintaining its position as the most polluted city in the world. The air quality index (AQI) reached an alarming 665 at 2pm, with certain areas registering even higher levels of pollution, such as Syed Maratib Ali Road at 1165, Valencia Town at 908, and CERB Office at 906. Other parts of the city, including Johar Town and MM Alam Road, also reported AQI readings above 700, signaling critical pollution levels. The maximum temperature in Lahore was recorded at 17°C, with a forecasted range between 9°C to 18°C. The city’s…