Islamabad, Sep 18: The State Bank of Pakistan (SBP) released figures on Wednesday showing that in August 2024, Pakistan’s current account balance showed a surplus of $75 million. In August 2024, Pakistan experienced a current account surplus of US$ 75 million, following three consecutive current account deficits. The current account deficit for 2MFY25 is US$ 171 million, which is 81 percent less than the previous year. Topline Securities claims that remittances, which came in at US$ 2.9 billion, up 40% YoY, are the reason for the current account’s increase. Remittances are increased 44% YoY in 2MFY25.
Author: Iqra Khan
Islamabad, Sep 18: After starting trade at 278 in the interbank market today, the Pakistani rupee (PKR) increased against the US dollar (USD) for the sixth day in a row. It closed the green against the greenback after remaining steady all day. During today’s session, it recorded losses versus a few 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 gained eight paisas against the US dollar today, and it appreciated…
Islamabad, Sep 18: Under the Suthra Punjab Program for cleanliness throughout the province, long-lasting, environmentally friendly steps are being implemented, according to Punjab Chief Minister Maryam Nawaz. She stated in a statement that the province’s extensive cleaning initiatives are now including rural areas for the first time. Maryam Nawaz recommended the adoption of appropriate trash disposal procedures and a move away from the use of plastics, which contributes significantly to pollution.
Islamabad, Sep 18: Three independent power producers (IPPs) have been served with show-cause notices by the National Electric Power Regulatory Authority (NEPRA), initiating legal procedures against them. The IPPs have reportedly received notices for their failure to get the nation’s electrical supply back online following a nationwide outage at the beginning of the previous year, according to a story in Dawn. Following extensive examinations into the plants, which include the 134 MW Saba Power Project, the 450 MW Rousch Power Plant in Khanewal, and the 1,320 MW Sahiwal Coal Power Project, notices have been served. Within the contractually stipulated timeframes,…
Islamabad, Sep 18: Easypaisa has been taking Rs. 99 out of users’ accounts who fail their biometric verification with NADRA without providing a regulatory explanation. One person told media that they were repeatedly charged this amount following unsuccessful attempts to match their fingerprints. Users get the following notification when their verification attempt fails: Your fingerprints and your CNIC from NADRA could not be matched. Please make sure that the background of your fingerprint scan is clear when you scan your own. You can visit your nearest merchant to have your account biometrically confirmed. A 99-rupee fee was taken out of…
Islamabad, Sep 18: Due to a technical issue at Kamahan Station on Wednesday, the Metro Bus service in Lahore was interrupted. The service was completely suspended due to a bus breakdown that blocked the track. Many commuters were compelled to get off the buses and locate other forms of transportation, according to local reports, which indicate that the interruption had a considerable impact on them. People rushed to find alternate routes to continue their excursions, which led to crowding at neighboring bus stops. Authorities are presently attempting to resolve the problem and bring back services. It has been suggested that…
Islamabad, Sep 18: Three employees of Punjab University (PU) have been placed on administrative leave and face legal action for their role in the leak of two LLB exam papers. The Intelligence Bureau (IB) Lahore conducted an investigation that revealed the workers’ involvement in the affair, leading to this decision. Naib Qasid Mohsin, Junior Clerk Usman, and Key Punch Operator Athar are among the suspended employees. These people were discovered selling exam papers to pupils for cash, the university administration said. Two employees sold the first paper for Rs 35,000 and Rs 6,000, and the third employee made Rs 100,000…
Islamabad, Sep 18: Alexei Overchuk, the Russian Federation’s deputy prime minister, arrived here on Wednesday on a two-day visit. The deputy prime minister was greeted warmly by Pakistan’s ambassador to Russia, Muhammad Khalid Jamali, and the additional foreign secretary for Europe, Shafqat Ali Khan, upon his arrival at the airport with a delegation of high rank. In addition to meeting with President Asif Ali Zardari and Prime Minister Shehbaz Sharif, Alexei Overchuk will have in-depth discussions with Foreign Minister and Deputy Prime Minister Muhammad Ishaq Dar during his visit.
Islamabad, Sep 18: OpenAI’s most recent “reasoning” model, o1, exhibits a troubling tendency that independent AI safety study group Apollo has discovered. As the launch date of this cutting-edge AI system drew near, Apollo’s crew discovered a brand-new type of output inaccuracy that might be classified as deceit. The problem might appear in a number of ways, some of which are initially thought to be innocuous. As an illustration, consider the objective given to o1-preview, a pre-release version of the model, which is to provide a brownie recipe with links to related websites. The “chain of thought” mechanism included into…
Islamabad, Sep 18: In a meeting today, the Board of Directors of Loads Limited (PSX: LOADS) approved the writing off of a debt that the company had given to its subsidiary Hi-Tech Alloy Wheels Limited, worth Rs. 1.317 billion. The money was given out in accordance with the Loan Agreements of 21 December 2017 and 10 April 2019, but only after the members approved it through a Special Resolution and after all applicable laws, rules, and statutory requirements were met. The company’s main business is producing and selling exhaust systems, radiators, and other parts for the auto industry.The company’s shares…
