Islamabad, Jan 11: The federal cabinet has recently approved a significant amendment to the Pakistan Telecommunication (Re-Organisation) Act, 1996, aimed at standardizing the pay packages of the Pakistan Telecommunication Authority (PTA) chairman and its members. This move follows audit objections regarding the allowances claimed by PTA officials, which were previously based on MP-I and MP-II pay scales, coupled with additional allowances granted under senior executive grades. However, Audit authorities recommended limiting allowances to those under the MP scales, causing a disagreement with the Law and Justice Division. To address this confusion and ensure clarity, the PTA sought an amendment to…
Author: Mawadat Fatima
Islamabad, Jan 11: The Sindh Govt Launches Electric Taxi Scheme for Youth Employment while championing environmental sustainability by launching an electric vehicle (EV) initiative. This innovative program will provide EV taxis to unemployed youth on accessible instalment plans, offering them a steady income source while promoting eco-friendly transportation. Senior Provincial Minister Sharjeel Inam Memon shared the details of the program, emphasizing its twin objectives: job creation and environmental conservation. By empowering the youth with opportunities for self-employment, the scheme also supports Sindh’s vision for greener transportation infrastructure. To ensure the success of the project, Minister Memon directed the Secretary of…
Islamabad, Jan 11: The Competition Commission of Pakistan’s (CCP’s ) delay in deciding the acquisition of Telenor Pakistan by Pakistan Telecommunication Company Limited (PTCL) has raised concerns over meeting the government’s timeline for launching 5G services by April 2025 The National Economic Research Associates Inc. a U.S.-based consultancy firm engaged by the government for the spectrum auction, had already expressed reservations on certain issues. NERA recommended that the decision regarding the number of Cellular Mobile Operators (CMOs), particularly considering the proposed merger, should be resolved promptly. NERA also highlighted concerns about the lack of availability of the complete 194 MHz…
Islamabad, Jan 10: Engro Holdings Limited (EHL) has announced an important development for its shareholders, with the approval of the allotment and issuance of a total of 722.9 million ordinary shares. Engro Corporation (PSX: ENGRO) will allocate each share, worth PKR 10, to eligible shareholders. The shares will go to those registered by January 7, 2025, as per the Scheme’s terms. The approval for this issuance comes after the Islamabad High Court’s sanction of the Scheme on July 18, 2024. This move follows the ongoing restructuring process between Engro Corporation Limited (ENGRO) and Dawood Hercules Corporation Limited (DAWH), aimed at…
Islamabad, Jan 10: A new motorbike patrol service has been launched as part of a pilot project aimed at bolstering security and surveillance along Pakistan’s motorways. Initiated under the guidance of Federal Minister for Communications Abdul Aleem Khan, this service is designed to strengthen safety measures and provide more efficient monitoring on the roads. The pilot project envisions the deployment of 30 to 35 motorbikes, patrolling different motorway sectors simultaneously, using the existing resources of the Motorway Police. This is just the first step, with plans to expand the service as it gains momentum. Minister Khan highlighted the importance of…
Islamabad, Jan 10: The Pakistan Stock Exchange (PSX) had a roller-coaster week, with the KSE-100 Index showing resilience by recovering from a significant loss and finishing strong. After a series of losses on the first four days, the index gained more than 600 points on Friday, closing at 113,247 points—an increase of 609 points or 0.5 percent from the previous session. The recovery came after the index hit a low of -625 points during the trading day, demonstrating the market’s ability to rebound. Analysts at Topline Securities attributed this upward movement to institutional buying, which supported the market’s recovery by…
Islamabad, Jan 10: Expatriates in Kuwait who missed the December 31 deadline for mandatory biometric fingerprinting are now facing significant restrictions, including a ban on leaving the country, according to security officials. This move is part of Kuwait’s broader efforts to establish a robust database of residents and enhance national security. The government introduced the biometric registration initiative to prevent identity fraud and dual citizenship. It is mandatory for all residents aged 18 and above. Non-compliance has led to severe consequences for expatriates, including suspension of government and banking services. They are also barred from re-entering or exiting Kuwait until…
Islamabad, Jan 10: The Ministry of Religious Affairs has announced the reopening of Hajj applications for 5,000 pilgrims under the government Hajj scheme. This initiative uses the remaining yearly quota, with applications processed on a first-come, first-served basis. The process has started and will end once all slots are filled. The ministry aims to use all slots to avoid returning any quotas to Saudi Arabia. A ministry spokesperson emphasized that this opportunity is exclusively for 5,000 applicants, with no flexibility for additional accommodations. To ensure fairness, applications will be closed as soon as the quota is exhausted. To facilitate the…
Islamabad, Jan 10:The Sensitive Price Index (SPI) for the week ending January 8, 2024, revealed a year-on-year inflation increase of 1.9%, as reported by the Pakistan Bureau of Statistics (PBS). This marks the lowest annual increase in six years, according to insights from Topline Securities. The rise in SPI inflation reflects surging costs of essential commodities. Notable year-on-year increases include Potatoes (up 58.76%), Pulse Gram (42.11%), Pulse Moong (34.15%), Powdered Milk (25.76%), and Beef (23.75%). Other significant contributors were Garlic (18.43%), Gas Charges for Q1 (15.52%), and Vegetable Ghee 1Kg (15.48%). Items like Cooked Daal, Shirting, and Firewood also saw…
Islamabad, Jan 10: In December 2024, Google hinted at the wider release of its Google Wallet in several countries, including Pakistan. This highly anticipated digital wallet, known for its ability to store payment cards, loyalty cards, boarding passes, event tickets, and enable NFC transactions, created significant buzz. However, instead of the full version, Pakistan will receive a “Passes-Only” version of Google Wallet, leaving many users underwhelmed by the offering. What Is the Passes-Only Version of Google Wallet? The Passes-Only version of Google Wallet offers a simplified experience, limited to managing digital passes such as: Boarding passes Event tickets Loyalty and…
