Islamabad, Aug 17: Poverty is a terrible thing – but it always comes with a silver lining. Poor people are willing to work for less, and knowledge they can use to be more productive is already out there. If only a government can help harness this natural advantage, growth and prosperity follows, as countries like Vietnam and Korea have shown. To put it differently, it takes effort to suppress growth for long periods of time. But some countries manage to do so through their collective decisions, and remain stuck in what economists refer to as a “poverty trap”. There is…
Author: Iqra Khan
Islamabad, Aug 17: An extension of its global IT capabilities has been announced in Pakistan by the global mobility and urban services platform, inDrive. In order to address global inDrive difficulties and advance the knowledge of the inDrive Tech Team, we are collaborating closely with regional talent agencies and hiring Pakistani specialists in Lahore during the first phase of this development. This action highlights inDrive’s commitment to bolstering the local economy and community while solidifying its position as the industry leader in Pakistan’s ride-hailing sector,with the help of this advancement, IT workers will have more employment options, which will support…
Islamabad, Aug 17: This month, Qaiser Ahmed Sheikh, Pakistan’s minister of maritime affairs, will travel to Denmark to sign a memorandum of understanding between the Karachi Port Trust (KPT) and the Danish shipping corporation Maersk. This development follows the CEO of Maersk’s previous visit to Pakistan, where he met with officials to discuss potential business ventures in the marine industry. Maersk has declared that for the following two years, it will invest $2 billion in Pakistan’s port and transportation infrastructure. It is anticipated that this investment would help the nation’s economy and infrastructure grow. According to the Pakistani minister, Karachi…
Islamabad, Aug 17: The State Bank of Pakistan (SBP), in order to facilitate Small and Medium-sized Enterprise (SME) sector’s access to finance, on Friday, increased clean lending limit for SMEs to Rs10 million. The banking regulator has made an amendment in Prudential Regulations for SME Financing and SME Regulation SME R-4 regarding Limit on Clean Facility been updated accordingly to enhance the clean lending limit for an SME borrower from Rs5 million to Rs10 million.SBP’s SME, Housing and Sustainable Finance Department issued a circular in the regard advising heads of all banks and DFIs stringent compliance of the regulatory measures…
Islamabad, Aug 17: Pakistan, one of the most affected countries by climate change, faces severe challenges due to escalating heatwaves and widespread deforestation. Although numerous tree planting campaigns are active across the country, these efforts are insufficient to address the scale of the crisis. Tree planting is not just a strategy but a crucial tool in managing climate challenges, improving public health, and protecting agriculture and the environment. As highlighted by the Global Climate Risk Index, Pakistan’s vulnerability to climate threats underscores the urgent need for intensified and consistent tree plantation initiatives. According to the Global Forest Watch, Pakistan had…
Islamabad, Aug 17: Ambassador Park Ki Jun of the Republic of Korea has called on Sialkot exporters to seize opportunities in Korea’s international trade markets to enhance bilateral trade between Pakistan and Korea. He made these remarks during a meeting with exporters at the Sialkot Chamber of Commerce and Industry (SCCI) on Friday. The meeting was attended by Abdul Ghafoor Malik, President of SCCI; Wahub Jahangir, Senior Vice President (SVP) of SCCI; Yeonjeong Yoo, Assistant Public Diplomacy Officer; and members of the Sialkot business community. In his address, Ambassador Park highlighted Korea’s strong interest in deepening trade and economic ties…
Islamabad, Aug 17: Today is significant, particularly for those who enjoy electric vehicles (EVs), since Build Your Dream (BYD), the largest NEV brand in the world, is making its debut in Pakistan. The business is entering in partnership with Hub Power Company Limited’s (HUBCO) Mega Motor Company (Private) Limited. Since the relationship was revealed in June, rumors have been spreading, and since then, excitement has been growing. Real-time streaming: Today at 3 PM, Mega Motor Company and BYD will begin a live stream to unveil and introduce the NEV brand. Top business representatives will discuss the company’s future plans for…
Islamabad, Aug 17: Health specialist Saturday called for heightened public awareness and community participation in the efforts to contain Monkeypox, highlighting key strategies such as early identification, isolation and collective action. Professor Dr. Ashar Mashhood talking to the PTV New said that as the world grapples with the Monkeypox outbreak and emphasis on public awareness, community engagement and accurate information highlight the importance of a collective response to the outbreak. “By working together, we can contain the spread of Monkeypox and protect our communities”, he added. Responding to a query, he explained, “Monkeypox is a viral (zoonotic) disease (a virus…
Islamabad, Aug 17: The Senate Functional Committee on Problems of Less Developed Areas Friday ordered an inquiry into widespread power theft across Pakistan and took notice of alleged malpractice by a NESPAK consultant involved in the Park Road Housing Scheme under the Federal Government Employees Housing Authority (FGEHA). The meeting, chaired by Senator Agha Shahzaib Durrani, scrutinized both the ongoing electricity theft concerns and the alleged corruption within the housing project.During the session, the Committee reviewed the implementation of recommendations from previous meetings, particularly focusing on actions taken against corrupt officials of the Quetta Electric Supply Company (QESCO) over the…
Islamabad, Aug 17: The Ministry of Federal Education and Professional Training an insightful and detailed briefing to the National Assembly Standing Committee on Federal Education and Professional Training, about the Ministry’s role in the development and implementation of educational policies and professional training frameworks. The second meeting of the Committee was held on Friday at National Assembly Secretariat under the chairmanship of Dr. Azim Uddin Zahid Lakhvi, MNA.Secretary, Ministry of Federal Education and Training said that their mandate encompasses the advancement of educational quality, expansion of access and enhancement of vocational training programs, all geared towards achieving national development objectives.…