ISLAMABAD, AUGUST 13: Under sub-section (2) of Section 9 of the Insurance Ordinance 2000, the Securities and Exchange Commission of Pakistan (SECP) has terminated M/s EFU Health Insurance Limited’s registration as an insurer. In light of the plan for the merger of EFU Health Insurance Limited and EFU Life Assurance Limited, SECP has revoked the registration. M/s EFU Health Insurance Limited is no longer authorized to carry on insurance business in Pakistan and, as per scheme, any business activity carried by it or any liability incurred by it shall be payable by M/s EFU Life Assurance Limited, said the statement…
Author: Mawadat Fatima
ISLAMABAD, AUGUST 13: According to new data from the Pakistan Automobile Manufacturing Association (PAMA), car sales in Pakistan for the first month of the current fiscal year 2024–25 climbed by 58.21% over the same month the previous year. As per the available data, Pakistan sold 5,857 cars in the month under review, compared to 3,702 units in the same month the previous year. According to the breakdown of sales, 208 Honda Civic and City units were sold in the same month of previous year, whereas 790 units were sold in 2024–25. Sales of Toyota Corolla and Yaris automobiles rose by…
ISLAMABAD, AUGUST 12: The Indus Motor Company (IMC) hosted a ceremony at its manufacturing site in Port Qasim Authority, Karachi, to announce that Toyota Indus motors starts exporting cars Globally. Rana Tanveer Hussain, the federal minister of industries and production, Engineer Khuda Buksh, the CEO of the Engineering Development Board (EDB), members of the Special Investment Facilitation Council (SIFC), and executives from Toyota, including Executive Vice President of Toyota Motor Asia Kazunari Iguchi, attended the event. IMC intends to start exporting automobiles and auto parts to nations in the Pacific, notably the Toyota Fortuner, Hilux, and Corolla Cross models. Both…
ISLAMABAD, AUGUST 12: On Monday, the price of gold in Pakistan stayed the same as dealers increased the discounts they gave to buyers. The Karachi Sarafa Association released data showing that the price of 24 carats of gold was Rs 256,500, while the price of 10 kilos was Rs 219,907. According to the Association, compared to the global market, the price of the precious metal has been kept below cost by Rs. 2,500 per tola. a 500 rupee increase on the discount that was granted at the end of the previous week. Last week, despite daily fluctuations, the price mostly…
ISLAMABAD, AUGUST 12: To stop the unauthorized usage of mobile SIMs, the Pakistan Telecommunication Authority (PTA) has unveiled a comprehensive plan. PTA has acquired data from NADRA to identify and prohibit unlawful SIMs in an effort to address the problem. The purpose of this action is to safeguard citizen data and stop unlawful activity. In three stages, PTA will block unlawful SIM cards. SIMs registered on canceled or fraudulent CNICs will be the focus of the initial phase. While SIMs registered in the names of deceased people would be blocked in the third phase, the second phase will concentrate on…
ISLAMABAD, AUGUST 12: The Pakistan would receive a $500 million loan from the Islamic Development Bank (IsDB) in the current fiscal year. The first installment of $10 million is anticipated this month, according to sources in Pakistan. This sum will cover the first quarter of the current fiscal year’s oil imports. In the upcoming quarter, IsDB will contribute $150 million, and in the third and fourth quarters of the fiscal year, it will contribute an additional $250 million. This funding coincides with the expiration of Pakistan and Saudi Arabia’s oil purchase deal. The IsDB gave $250 million for oil imports…
ISLAMABAD, AUGUST 12: Karachi’s Jinnah International Airport experienced several outgoing flight cancellations on Monday due to operational and technical issues. The canceled flights included: PK-306: PIA’s flight from Karachi to Lahore PK-310: PIA’s flight from Karachi to Quetta PA-406: Airblue’s flight from Karachi to Lahore ER-504: SereneAir’s flight from Karachi to Islamabad ER-554: SereneAir’s flight from Karachi to Peshawar ER-524 and ER-522: SereneAir’s flights from Karachi to Lahore PF-143: AirSial’s flight from Karachi to Lahore 9P-852: Fly Baghdad’s flight from Karachi to QuettaIn unrelated news, eleven people who were trying to enter Saudi Arabia on Umrah visas with the intention…
ISLAMABAD, AUGUST 12: Engro Fertilizers Limited, the leading supplier of seed-to-harvest solutions in Pakistan, has unveiled “UgAi,” a ground-breaking smartphone application that provides Pakistani farmers with cutting-edge agricultural technologies. With this innovative solution—which combines drone technology and satellite imagery—farmers can now buy premium fertilizers straight from the company. UgAi would guarantee farmers receive the appropriate products at the right price with full transparency by doing away with middlemen. The UgAi app launch event was graced by Muneer Ahmed Jumani, DG Agriculture Extension, as the guest of honor. Senior farmers as well as important government figures attended the event: Sajid…
ISLAMABAD, AUGUST 12: Sadpara, a well-known mountaineer from Pakistan, tragically died in an accident while descending Broad Peak, an 8,047 mountain. During his descent from Camp One, Sadpara, who was well-known for his valor in rescue operations and commitment to protecting the environment in the mountains, was hit in the head by a loose rock. This accident proved fatal despite his courageous efforts in the past, such as the recent recovery of Hasan Shigri’s body from K2. Sadpara was well-liked in the climbing world for his outstanding contributions to high-altitude climbing and his dedication to mountain cleanup campaigns. His sudden…
ISLAMABAD, AUGUST 12: In the forthcoming Test series against Bangladesh, former Pakistani cricketer Basit Ali has called for red-ball captain Shan Masood to bat at a different position. Ali suggested Masood to move up from his current position at number three to the opening spot on all platforms in a recent YouTube video. Ali, who had earlier advised Masood to shorten his bat, has now emphasized how bad it is for Masood and the Pakistan squad to bat third. He claims that Masood would be more effective as an opening batsman. At a news conference, Masood discussed his experiences with…
