Islamabad, Dec 16: The State Bank of Pakistan (SBP) announced a 200 basis point reduction in its policy interest rate, bringing it down to 13%, effective from December 17, 2024. This move marks the fifth consecutive rate cut by the central bank, which has reduced the rate by a total of 900 basis points over the last five monetary policy meetings. The decision was made after a meeting of the SBP’s Monetary Policy Committee (MPC), which acknowledged a decline in headline inflation to 4.9% year-on-year in November 2024, in line with expectations. The drop was mainly attributed to a continued…
Author: Iqra Khan
Islamabad, Dec 16: Zong, Pakistan’s leading digital and telecommunications provider, hosted a company-wide customer experience event this week, underscoring its commitment to delivering high-quality experiences to customers. The event reflected Zong’s dedication to shaping the future of customer experience in Pakistan’s rapidly evolving digital landscape. In a market where customers increasingly demand personalized services, Zong aims to prioritize customer satisfaction as a core value of its company culture. The event brought together corporate clients, consumers, and Zong employees, providing a platform to explore Zong’s extensive portfolio of services, cutting-edge technologies, and enterprise solutions. University faculty and students were also invited…
Islamabad, Dec 16: Telenor Velocity, the premier startup accelerator program of Telenor Pakistan, in partnership with the Special Technology Zones Authority (STZA) and Invest2Innovate (i2i), successfully hosted a roundtable discussion at the prestigious +92Disrupt 2024. The session, themed “From Idea to Impact: Closing the Funding Gap in Pakistan’s Startup Ecosystem,” gathered 36 thought leaders, including investors, entrepreneurs, corporate representatives, and policymakers, to explore strategies for strengthening the country’s startup funding ecosystem. The discussions centered on critical issues such as attracting both domestic and foreign investment, fostering policy consistency, offering tax incentives, and implementing regulatory reforms. Participants also focused on diversifying…
Islamabad, Dec 16: Mayor Murtaza Wahab of Karachi officially inaugurated Nestlé Pakistan’s first clean and safe drinking water facility in the Bin Qasim Town district, a vital addition designed to serve over 10,000 individuals every day. The new facility is part of Nestlé Pakistan’s broader initiative to provide access to clean drinking water across the country. With this facility, Nestlé expands its operations to include nine such plants near its manufacturing sites in Sheikhupura, Kabirwala, Khanewal, Islamabad, and Karachi. Collectively, these facilities aim to provide clean drinking water to around 90,000 people daily. In collaboration with the Karachi Metropolitan Corporation…
Islamabad, Dec 16: Pakistan is making strides towards a digital future with the introduction of the “Digital Nation Pakistan” legislation in the National Assembly, announced Shaza Fatima Khawaja, Minister of State for IT and Telecom, on Monday. Speaking at an event in Islamabad, the minister stated that the bill would be presented at 5 PM in the National Assembly. “We are hoping that within the next few days, it will be passed into law, enabling the formation of the National Digital Commission,” she said. High-Level Oversight for Digital Transformation The initiative will be overseen by the National Digital Commission, chaired…
Islamabad, Dec 16: Citi Pharma Ltd. (PSX: CPHL) has announced its entry into the direct marketing sector, starting January 1, 2025. This strategic shift aims to transition from its traditional focus on serving hospitals and institutions, along with its Active Pharmaceutical Ingredient (API) business, to directly delivering high-quality pharmaceutical products to the public across Pakistan. Aligning with Vision 2030: From “Care to Cure” In a notice to the Pakistan Stock Exchange (PSX) on Monday, Citi Pharma outlined this move as part of its 2030 Vision: From “Care to Cure.” The initiative underscores its commitment to improving access to affordable and…
Islamabad, Dec 16: OnePlus is set to launch the Ace 5 and Ace 5 Pro on December 26, 2024, in China, powered by Snapdragon 8 Gen 3 and Snapdragon 8 Elite chipsets, respectively. However, the excitement doesn’t stop there, as leaks hint at a host of additional models to follow in 2025, broadening the Ace lineup significantly. Flagship and Compact Models The OnePlus Ace 5 Mini is rumored to debut in Q2 2025 as a compact flagship. It is expected to feature a 6.31-inch display, Snapdragon 8 Elite chipset, and a 50MP Sony IMX906 primary camera, offering high-end performance in…
Islamabad, Dec 16: In a proactive measure to alleviate water supply challenges, Karachi Water and Sewerage Board (KW&SB) CEO Engineer Syed Salahuddin Ahmed has announced an expansion in the availability of water tankers for residents. Enhanced Services for Citizens The KW&SB has increased the quota for subsidized water tankers and introduced a 24/7 window service at all official hydrants. This new system allows citizens to book water tankers at any time, ensuring uninterrupted access to water, especially during ongoing maintenance work. To prioritize public needs, the KW&SB has temporarily suspended commercial tanker services for three days, focusing on supplying water…
Islamabad, Dec 16: The Pakistan Cricket Board (PCB) is reportedly evaluating Sri Lanka as a potential venue for India’s matches in the 2025 ICC Champions Trophy, alongside the United Arab Emirates (UAE), which remains the favored choice. This unexpected development introduces a new dimension to the hybrid model agreed upon by Pakistan and India after prolonged negotiations. Key Aspects of the Hybrid Model Under the arrangement, India will play its Champions Trophy matches at a neutral venue, with Lahore set to host the final if India does not qualify. The compromise also extends to the T20 World Cup in 2026,…
Islamabad, Dec 15: The China-Pakistan Economic Corridor (CPEC), the flagship project of the Belt and Road Initiative, remains the cornerstone of economic cooperation between the two all-weather friends and brotherly countries. “Contrary to rumors suggesting a slowdown, recent developments signal a renewed vigor and strategic focus on advancing the next phase of CPEC, dubbed CPEC Phase 2.0,” the Ministry of Planning, Development and Special Initiatives said in a news release here on Sunday. It said this pivotal phase aims to redefine the framework of bilateral relations through deeper collaboration, advanced technological transfer, and transformative socio-economic projects. Minister for Planning, Development,…
