Islamabad, Jan 14: Cherat Packaging Limited (PSX: CPPL) has announced a strategic move to further bolster its production capabilities by acquiring a second Extrusion Plant, specifically a state-of-the-art Barrier Film Extrusion Line, accompanied by the necessary allied equipment. This investment, which amounts to an estimated Rs. 1.40 billion, marks a significant step in the company’s commitment to scaling its operations and catering to the ever-growing demand for high-quality packaging solutions. The expansion will be financed through a long-term loan, allowing CPPL to effectively manage its financial obligations while continuing to strengthen its market position. The company has confirmed that the…
Author: Mawadat Fatima
Islamabad, Jan 14: The University of Management and Technology (UMT) has taken a significant step towards empowering marginalized communities by partnering with the Muslim World League (MWL) in an initiative to promote girls’ education. Under the visionary leadership of UMT’s Chairman and President, Ibrahim Hasan Murad, this collaboration aims to break down economic and cultural barriers that hinder educational access, particularly for girls in underserved areas. The formalization of this commitment was marked by a Memorandum of Understanding (MoU) signed in the presence of esteemed figures, including H.E. Dr. Muhammad Bin Abdul Karim Al Isa, Secretary General of the MWL,…
Islamabad, Jan 14: Rainfall is set to break the prolonged dry spell in various parts of the country next week, according to Chief Meteorologist Sardar Sarfraz. Speaking to a private news channel, Sarfraz revealed that winds originating from Iran are expected to bring rain to Balochistan around January 20. Following this, northern areas will likely witness rain and snowfall, marking a shift in weather patterns. However, Karachi will remain unaffected by this system and will not experience any rainfall. Karachi continues to endure a cold wave, with the Meteorological Department recording a minimum temperature of 11°C and predicting a maximum…
Islamabad, Jan 14: U.S. Embassy representatives visited the Competition Commission of Pakistan (CCP) to discuss matters related to competition law and foster bilateral cooperation between CCP and the U.S. Federal Trade Commission. Representatives of the U.S. Embassy’s Economic Section met with Salman Amin, Member Office of Fair Trade and International Affairs and his team. The discussion focused on sectors vulnerable to international cartelization, risks of dominance abuse, and challenges like deceptive marketing and AI on digital platforms. Regulators must now consider these factors in Merger & Acquisition decisions. Recent decisions by CCP and FTC were discussed. Both regulators identified common…
Islamabad, Jan 14: Habibmetro Bank elevated customer experiences by partnering with the highly anticipated Karachi Eat Food Festival, offering a blend of exclusive benefits and entertainment for all attendees. The three-day event, celebrated for its culinary and musical attractions, witnessed HABIBMETRO adding exceptional value to festival-goers’ experiences. HABIBMETRO Platinum and Ladies debit cardholders enjoyed free entry, while all debit cardholders benefitted from fast-track access, bypassing long queues. An exclusive lounge provided refreshments and rewards for HABIBMETRO customers, with engaging activities like spin-the-wheel and photo booths offering non-customers chances to win prizes. Visitors could also open accounts on the spot, guided…
Islamabad, Jan 14: Pakistan which is facing an economic crisis, has discovered 28 lakh tolas of gold reserve, valued at 80,000 crore PKR. The crisis-hit Pakistan has discovered 32.6 metric tonnes of gold reserves worth 800 billion PKR in the Indus River in Punjab’s Attock district. Former mining minister of Punjab Ibrahim Hasan Murad has unveiled a groundbreaking discovery involving 2.8 million tolas of gold, valued at 800 billion PKR (₹24.66 crore), spread across a 32-kilometre stretch in Attock. The Geological Survey of Pakistan (GSP) confirmed the massive gold deposit after conducting thorough sampling from 127 sites. Experts estimate the…
Islamabad, Jan 14: The court has delayed the £190 million corruption case against former Prime Minister Imran Khan and his wife, Bushra Bibi, three times. The verdict, first set for December 23, was moved to January 6 and is now expected on January 17 due to their and their lawyers’ absence. Despite Judge Nasir Javed Rana confirming that the verdict was ready and signed, both Imran Khan and Bushra Bibi failed to attend the court session on January 6. The judge had expected their presence and noted that Bushra Bibi was aware of the date but still did not appear.…
Islamabad, Jan 14: In a significant financial turnaround, Pakistan’s sovereign default risk has dramatically decreased by 93%, with its 5-year Credit Default Swap (CDS) spreads plummeting to 505 basis points in December 2024, down from a staggering peak of 12,388 basis points in November 2022. This sharp decline signifies a notable recovery in Pakistan’s debt repayment stability, fueled by improved economic conditions, fiscal discipline, and enhanced investor confidence. Pakistan Default Risk Khurram Schehzad, the Advisor to the Finance Ministry, emphasized that the drop in CDS spreads has positioned Pakistan ahead of various emerging and frontier markets in terms of risk…
Islamabad, Jan 14: Standard Chartered Bank (SCB) Online Pakistan is revolutionizing the way users interact with their financial services, making banking more accessible, secure, and efficient than ever before. With the rise of digital banking, SCB has taken steps to ensure its customers enjoy a seamless, hassle-free experience, bringing banking directly to their fingertips. A Digital Banking Revolution SCB Online Pakistan is redefining convenience in the financial sector. Its innovative platform offers a comprehensive range of services, including mobile banking, online account management, instant payments, and more. The platform is designed to cater to a wide range of customers, from…
Islamabad, Jan 14: In a groundbreaking move to revolutionize Pakistan’s freelance industry, Dr. Umar Saif, the Caretaker Federal Minister for Information Technology and Telecommunication, announced the launch of a new payment system through PayPal in Pakistan aimed at empowering the country’s freelancer community. The new initiative will start in February and enable 10,000 freelancers to receive payments via PayPal. It plans nationwide expansion by March. Dr. Saif announced this during his address at the Tech Destination Pakistan event, which also launched E-Rozgar Centers nationwide. The pilot project will allow freelancers to receive payments from international clients via PayPal in Pakistan…
