Islamabad, Nov 5: Role of Business Leaders Essential for Achieving Sustainable Development, Says Romina. According to Romina Khurshid Alam, Prime Minister’s Climate Change Coordinator, the current administration is dedicated to strengthening cooperation with different stakeholders, including nations and non-governmental organizations, in order to accomplish sustainable development objectives. Engaging with development partners and nations with strong technical know-how, technology, and expertise in implementing the UN’s sustainable development goals is the current government’s top priority, she stressed during her meeting on Tuesday with a high-profile six-member delegation from Yuanhe Holdings and the Green and Low-Carbon Committee of the Sino-International Entrepreneurs Federation (SIEF).…
Author: Iqra Khan
Islamabad, Nov 5: Shaikh Commends UN Bodies for Their Role in Pakistan. Qaiser Ahmed Shaikh, the Federal Minister for Maritime Affairs, was visited by Mohamed Yahya, the United Nations Resident Coordinator (UNRC). The International Labor Organization’s delegate, Geir Tonstol, attended the meeting as well. When the two guests arrived at the Ministry of Maritime Affairs, the minister greeted them. The minister began the conversation by stating that the United Nations’ International Maritime Organization (IMO) and the Ministry of Maritime Affairs are collaborating to resolve the problems facing Pakistan’s maritime industry. In order to meet the Sustainable Development Goals (SDGs) under…
Islamabad, Nov 5: KSrelief Concludes 50,000 Shelter NFIs and Winter Kit Project Across Pakistan. King Salman Humanitarian Aid and Relief Center (KSrelief) has successfully completed its extensive 50,000 Shelter Non-Food Items (NFIs) and Winter Kit Project for 2023-24, bringing essential aid to some of Pakistan’s most vulnerable communities. This project highlights KSrelief’s dedication to delivering humanitarian support in response to the increasing challenges posed by climate-induced natural disasters. Spanning four phases from September 2023 to October 2024, the initiative targeted areas severely affected by flash floods, heavy rainfall, and snowfall across 44 high-need districts in Pakistan. Through this effort, KSrelief…
Islamabad, Nov 5: CCP engages Law students on Competition Law at QAU.The Competition Commission of Pakistan (CCP), as part of its partnership with the Directorate of Legal Education (DLE), held an interactive session at the School of Law, Quaid-e-Azam University. This initiative, part of CCP’s ongoing commitment to fostering legal knowledge and advocacy, brought together students and professionals to discuss key aspects of competition law. Ms. Bushra Naz Malik, Member CCP, highlighted the Commission’s core principles of transparency, integrity, and independence, encouraging law students to embody these values in their future careers. She emphasized the vital role of Competition Law…
Islamabad, Nov 5: Failure of PIA’s Privatisation. The Shahbaz Sharif government’s failure to privatise PIA has to be understood in its proper context. First of all, PIA is set to lose over Rs 150 billion ($550 million) in the last quarter of this year and the next year. These further losses will now be borne solely by the people of Pakistan. PIA had a total debt of over Rs 800 billion ($2.9 billion) and of this the government was absorbing over Rs 600 billion ($2.16 billion) but passing on over Rs 200 billion ($ 720 million) in debt to the…
Islamabad, Nov 4: New ADB Country Director Meets with Finance Minister. Emma Fan, the new Country Director of the Asian Development Bank in Pakistan, and Asad Aleem, the Deputy Country Director-ADB Pakistan, visited the Minister at the Finance Division today to meet with Senator Muhammad Aurangzeb, the Federal Minister for Finance and Revenue. The minister congratulated Fan on her assignment in Pakistan and expressed the hope that during her time there, the long-term collaboration between Pakistan and ADB would deepen and that the Bank would continue to be a key component of Pakistan’s development plan. He also gave her an…
Islamabad, Nov 4: Nilore Heights CDA Approves Refunds and Establishes Committees for Dispute Resolution. The Capital Development Authority (CDA) Board has approved the creation of a seven-member committee to examine claims pertaining to the Nilore Heights housing project, which is an important decision for those involved. All board members attended the 15th meeting of the CDA Board, which was presided over by CDA Chairman Muhammad Ali Randhawa at CDA Headquarters, where this decision was made. The approval of a complete reimbursement for the processing costs paid by Pakistanis living abroad who took part in the Nilore Heights project was one…
Islamabad, Nov 4: SBP Cuts Key Interest Rate for the Fourth Time in Four Months. On Monday, the State Bank of Pakistan (SBP) declared that, as of November 4, 2024, the interest rate has been lowered by 250 basis points to 15 percent. Following a meeting of the bank’s Monetary Policy Committee (MPC), SBP issued an official press release announcing the move. This is the central bank’s fourth cut in a row. During the last four monetary policy sessions, the central bank has lowered the policy rate by 700 basis points overall.
Islamabad, Nov 4: MSCI Expected to Include 4 Additional PSX Companies in Its Indices This November. With an effective date of November 26, 2024, MSCI plans to release its November 2024 Index review on November 06, 2024, adding four more PSX businesses to its indices. Topline Securities stated in a study that, according to information posted on the MSCI website, the minimum threshold of free float and total market capitalization for the selection of frontier market companies was US$69 million and US$138 million, respectively, in the most recent review of August 2024. As you can see from the accompanying table,…
Islamabad, Nov 4: IHC dismisses petition against CCP’s inquiry on Junior Hockey League. The Islamabad High Court has dismissed the petition filed by M/s Strawberry Sports Management (Private) Limited, affirming the regulatory powers of the Competition Commission of Pakistan (CCP). This decision reinforces CCP’s mandate to uphold fair competition practices under the Competition Act, 2010. Strawberry Sports Management had challenged the CCP’s inquiry report which concluded that no violation of competition laws had occurred when the Pakistan Hockey Federation (PHF) refused to issue a No Objection Certificate (NOC) for a proposed junior hockey league. The petitioner contended that PHF’s refusal…
