Author: Iqra Khan

Islamabad, Nov 29: Ethiopia and Pakistan Collaborate to Host Single-Country Exhibition in Addis Ababa. In order to ensure that a sizable number of traders from both countries attend the successful Single Country Exhibition in Addis Ababa, Ethiopia next year, Ethiopia and Pakistan agreed on Friday to deepen their bilateral collaboration.Pakistani food Dr. Jemal Beker Abdula, Ethiopia’s Special Envoy and Ambassador Extraordinary to Pakistan, met with Federal Minister of Commerce Jam Kamal Khan to make the decision.Both parties talked about issues of mutual interest during the discussion, such as bilateral collaboration to increase trade between the two nations that have a…

Islamabad, Nov 29: Lahore Enforces Strict Vehicle Ban to Combat Smog Crisis. The Punjab government has implemented a three-day, Friday–Sunday, total restriction on heavy vehicle entry into Lahore in an attempt to address the city’s escalating smog issue. Improving air quality and lowering pollution are the goals of the restriction. Heavy vehicles, such as loader trolleys and other large trucks, will not be permitted to enter the city at this time, according to Chief Traffic Officer (CTO) Amara Athar. Vehicles with significant smoke emissions or those without a current fitness certificate are also prohibited. Under the direction of Deputy Superintendents…

Islamabad, Nov 29: Government Expected to Extend VPN Registration Deadline. The deadline for Virtual Private Network (VPN) registration is probably going to be extended by the federal government until the end of December 2024. The Pakistan Telecommunication Authority (PTA) has asked to extend the deadline for VPN registration, which is currently set for November 30 due to intense pressure. Due to the VPN ban that began on November 30, about one million independent contractors who generate approximately $400 million in revenue are at danger. Both a longer registration period and a more straightforward registration process have been demanded by numerous…

Islamabad, Nov 29: SBP Directs Integration of RAAST Payments for Online Shopping Platforms. By March 2025, banks and other financial institutions are required by the State Bank of Pakistan (SBP) to implement the RAAST payment system in online retail and e-commerce sites. As a result, banks will make RAAST P2M digital payment acceptance services available to these businesses that are already clients of the banking system. “It has been determined that by March 31, 2025, all REs must make sure that their current account holders who offer their clients in-person and/or online shopping services are equipped with RAAST P2M digital…

Islamabad, Nov 29: Finance Minister Reviews 5G Launch Plans Following Feedback from U.S. Firm. The Advisory Committee on the Release of IMT Spectrum for Improvement of Next Generation Mobile Broadband Services in Pakistan met today at the Finance Division under the direction of Federal Minister for Finance and Revenue Muhammad Aurangzeb. By PPRA Rules/EPADS, the PTA hired the US-based consulting firm NERA in November 2024 to study and assess the Pakistani market, consult with stakeholders, and prepare policy recommendations regarding sector reforms and a roadmap for a successful spectrum auction by April of the following year. The meeting reviewed the…

Islamabad, Nov 29: Rupee Closes Week Lower After Fourth Straight Decline Against Major Currencies. After starting the day at 278 in the interbank market, the Pakistani rupee (PKR) ended the day in negative territory versus the US dollar (USD) for the fourth consecutive day. Despite staying at yesterday’s level, it was bearish throughout the day and ended the day lower versus the US dollar. During today’s session, it reported losses in relation to the majority of the other major currencies. Before closing at the 277 level, the interbank rate remained at that level for the majority of the day. Today,…

Islamabad, Nov 29: Weekly Inflation Eases Marginally Amid Minor Drop in Food Prices. According to the Pakistan Bureau of Statistics (PBS), the prices of chicken (3.78 percent), tomatoes (2.23 percent), pulse gram (1.60 percent), pulse masoor (1.38 percent), rice basmati broken (1.15 percent), gur (0.59 percent), pulse mash (0.53 percent), and pulse moong (0.25 percent) all saw price declines, which caused the Sensitive Price Index (SPI)-based inflation for the week ending November 28, 2024, to drop by 0.03 percent. The price increases for women’s sandals (75.09 percent), pulse gram (66.40 percent), tomatoes (42.08 percent), pulse moong (38.38 percent), powdered milk…

Islamabad, Nov 29: LDA Seals Dozens of Illegal Properties in Lahore Crackdown. During an operation on Thursday, the Lahore Development Authority (LDA) destroyed a number of unlawful buildings and sealed 96 houses in different parts of the provincial capital. LDA Director General Tahir Farooq ordered these actions to be taken as part of continuing efforts to enforce building codes and stop illegal development. Gulberg, New Garden Town, Faisal Town, Allama Iqbal Town, Shadman, and Gulshan Ravi were among the localities that were the focus of the operations. Thirty properties in Shadman and Gulshan Ravi, thirty in Allama Iqbal Town, and…

Islamabad, Nov 29: FDE Discontinues Two-Day Weekend for Schools and Colleges in Islamabad. All of the educational institutions in Islamabad that fall under the purview of the Federal Directorate of Education (FDE) will henceforth observe Saturday as a working day. Islamabad will only observe Sunday as a holiday. This decision will take effect on November 30, 2024, and last until February 1, 2025, to compensate for the academic losses caused by the recent closures of schools and universities in the nation’s capital. The letter, sent out on November 29, 2024, made clear that the closures were mostly caused by regular…

Islamabad, Nov 28: CCP Approves Merger of Millat Equipment Limited with Millat Tractors Limited. The Competition Commission of Pakistan (CCP) has granted approval for the merger of M/s. Millat Equipment Limited (MEL) with M/s. Millat Tractors Limited (MTL) under a Scheme of Arrangement sanctioned by the Lahore High Court. Upon the court’s sanction, MEL will be dissolved, and MTL will emerge as the surviving entity. Millat Tractors Limited, a publicly listed company in Pakistan, specializes in the manufacturing and marketing of agricultural tractors (Massey Ferguson 300 series), forklift trucks, diesel engines, diesel generator sets and a wide range of allied…