Islamabad, Sep 27: Asia’s Energy Transition Summit Happening at LUMS LUMS is hosting the Asia’s Energy Transition Summit on September 28-29 to foster discussions on the shift to renewable energy. The event will bring together leading energy experts, researchers, civil society activists, policymakers, and parliamentarians. Organized by the LUMS Energy Institute (LEI) in collaboration with the Pakistan Renewable Energy Coalition (PREC), the summit will focus on the need for coordinated efforts across Asia to secure financing for renewable energy, phase out fossil fuels, and enhance energy efficiency and conservation. The summit’s main goals include assessing Asia’s progress and aligning these…
Author: Mawadat Fatima
Islamabad, Sep 27: TPL Tracker Transfers Major Stake in Middle East Unit to UAE’s Gargash Group TPL Tracker Limited (PSX: TPLT) has announced the start of the process to transfer a 50.1% equity stake in Trakker Middle East Limited (TME) to the UAE-based Gargash Group. “Following our May 25, 2024, announcement regarding the signing of definitive agreements between Trakker Middle East LLC and Gargash Group for the acquisition of a 50.1% stake in TME, we are pleased to inform you that the transfer process outlined in the agreement has now begun,” the company stated in a stock filing today. The…
Islamabad, Sep 26: Pakistan England Test series squad 2024 The Pakistan Cricket Board (PCB) has updated the Test squad ahead of the first match in a three-Test series against England, which starts on October 7. Leg-spinner Zahid Mahmood has been included in the pre-test camp in Multan as the 16th player, though the final squad will be reduced to 15 for the first Test. In a statement, the PCB clarified that Kamran Ghulam and Mohammad Ali will remain in reserve. “Kamran Ghulam and Mohammad Ali will continue playing domestic cricket to stay match-fit,” the PCB said. “All three players are…
Islamabad, Sep 27: 25 Clinics Sealed for Spreading Hepatitis and HIV in Islamabad The Islamabad Healthcare Regulatory Authority (IHRA) has sealed 25 healthcare establishments in Islamabad within the past week due to unsafe medical practices that contributed to the spread of blood-borne infections like Hepatitis B, C, HIV, and antimicrobial resistance (AMR). According to IHRA officials, many of these clinics, operated by unqualified individuals or quacks, were found reusing syringes and administering antibiotics without proper Infection Prevention and Control (IPC) protocols. Dr. Quaid Saeed, IHRA’s CEO, expressed concern over the misuse of antibiotics, particularly carbapenem, a drug reserved for critical…
Islamabad, Sep 27: Govt Updates Debt Management Strategy Amid Buyback Program Changes The government has officially expanded the scope of its Buyback Program to include a Buyback & Exchange Program, following international best practices. Govt Debt Management Strategy communicated via a Finance Division notification, aims to enhance the country’s debt management strategy, especially in the current challenging economic environment. The Buyback & Exchange Program is designed to facilitate proactive debt management by utilizing surplus cash and replacing illiquid or expensive debt securities. This strategy aims to improve market liquidity by directing funds into newer issuances and managing fiscal accounts effectively…
Islamabad, Sep 27: ADB Secures $500 Million for Education Funding in Pakistan The Asian Development Bank (ADB) has partnered with the International Finance Facility for Education (IFFEd) to provide at least $500 million in concessional education funding for lower-middle-income countries (LMICs) in Asia and the Pacific. Eligible countries include Bangladesh, India, Mongolia, Pakistan, Papua New Guinea, the Philippines, Sri Lanka, Timor-Leste, Uzbekistan, and Vietnam. Under this innovative financing partnership, IFFEd, a sovereign-backed Swiss foundation established in 2023, will guarantee $125 million of ADB’s sovereign loan exposure and provide an initial $50 million in grants. This arrangement allows for four times…
Islamabad, Sep 27: Dwayne Bravo Becomes KKR Mentor After Retirement The Indian Premier League’s Kolkata Knight Riders (KKR) have appointed former West Indies all-rounder Dwayne Bravo as the team’s mentor following his recent retirement from all forms of cricket. Bravo, a T20 cricket legend with a record 631 wickets from 582 matches, takes over the role from Gautam Gambhir, who stepped down after becoming the head coach of the Indian men’s cricket team in July. Venky Mysore, CEO of the Knight Riders Group, expressed enthusiasm about Bravo’s extensive experience and winning mentality, viewing them as invaluable assets for the team.…
Islamabad, Sep 27: FBR freeze banks accounts and Unregistered Businesses After Crackdown. The Federal Board of Revenue (FBR) has identified a significant tax gap of Rs. 3,400 billion in uncollected sales tax, according to official sources. In response, the FBR freeze bank accounts has decided to document every stage of business operations, starting from the initial capital to final production, to ensure tax compliance. This move is aimed at addressing the tax shortfall by capturing all business activities that have previously gone unrecorded. The effort underscores the government’s commitment to widening the tax net and improving overall revenue collection in…
Islamabad, Sep 27: IMF Demands Subsidy Cuts in Pakistan Pakistan is facing stricter conditions as part of the recently approved $7 billion loan program from the International Monetary Fund (IMF). According to sources from the Finance Ministry, IMF Demands Subsidy Cuts at no more than 1% of its GDP. Additionally, the government has committed not to issue any supplementary grants during the duration of the IMF program. The IMF will also directly monitor provincial expenditures to ensure adherence to agreed fiscal measures. Ongoing negotiations between the federal government and provinces regarding the National Finance Pact are critical, as the IMF…
Islamabad, Sep 27: Hamster Kombat Token Crashes 30% After Binance Launch The newly launched play-to-earn (P2E) Hamster Kombat (HMSTR) token experienced a significant decline shortly after being listed on major cryptocurrency exchanges, including Binance and HashKey. Despite the initial excitement, the token fell by 10% within the first hour of trading, according to CoinGecko data. Over the past 24 hours, its value has plummeted nearly 30%, dropping from $0.012 to $0.0087. The Hamster Kombat team had announced the official start of HMSTR trading on various platforms, including OKX, Bybit, KuCoin, and MEXC, alongside Binance and HashKey. This launch followed the…
