Islamabad, Dec 13: The level of digital payments in the country could reduce the informal and cash economy by 22 % and additionally, the offer increases the country’s GDP by 7 % by 2025 generating 4 million jobs and $263 billion deposits in Pakistan revealed in the report “Transforming Pakistan Payment’s Landscape” by Karandaaz Pakistan. There is also saving on a huge cost that central bank has to bear while printing money which the SBP has to spends a large amount for issuance and management of cash. The banking regulator paid Rs 31 billion to the bureau in the last…
Author: Mawadat Fatima
Islamabad, Dec 12: FBL, one of the most reputed Islamic Banks in Pakistan has earned this TOP Position under Pakistan Remittance Initiative (PRI) of the State Bank of Pakistan (SBP) as Fastest Growing Bank in Pakistani Remittance Market. It was presented at the 4th Pakistan Remittance Summit being held in Rome, Italy. This distinguished award confirms FBL’s increasing leadership and performance in the remittance field and reflects overall customer confidence in the bank, in Pakistan as well as in the overseas countries. Mr. Yousaf Hussain, President & CEO of FBL, expressed his gratitude, stating: This is a great honor for…
Islamabad, Dec 13: The World Bank has assessed the $425 million National Transmission Modernization Project as moderately satisfactory saying that to finish the Islamabad West Substation IWS contract an expansion is necessary: the evacuation of the Bank-funded Dasu hydropower plant. To date $160.37 million or 37.73% have been disbursed, and $ 264.63 million have not been disbursed. The initial end date of the project has been shifted to April 30, 2025, which was earlier set for January 31, 2024. The contending project was approved in December 2017; it is in its sixth year of implementation and planned to end on…
Islamabad, Dec 13: The KP government has initiated four important programs for empowering the youth through skill development and Economic Yellow. They include the Ehsaas Hunar Scheme, worth 4 billion rupees, the newly signed Rural Economic Transformation Project of Rs 11.4 billion, modernization of TEI’s and an on-job training scheme for TEVTA graduates. The programs were inaugurated during a ceremony organized at the Chief Minister’s House in which Chief Minister Ali Amin Khan Gandapur, Provincial Ministers, officials and beneficiaries were present. Youn khub skilled youth will be provided with interest free mark-up up to Rs. 500,000 under Ehsaas Hunar Scheme…
Islamabad, Dec 13: The Pakistan Cricket Board (PCB) has appointed Aqib Javed as the interim red-ball head coach following Jason Gillespie’s resignation ahead of the two-match Test series against South Africa. Gillespie resigned after the PCB decided not to renew red-ball assistant coach Tim Nielsen’s contract, which led Nielsen to opt for early retirement, according to sources. A PCB spokesperson confirmed that Aqib Javed’s first assignment will be the Test series, with matches scheduled from December 26–30 at Centurion’s SuperSport Park and January 3–7 at Newlands in Cape Town. Currently, the Pakistan men’s team is in South Africa, competing in…
Islamabad, Dec 13: Even while people are preparing for Christmas, researchers already forecast that 2025 shall be among the warmest years. The Met Office has indicated that 2024 is set to rank as the world’s warmest year since 1850, with 2023 coming in second and 2025 third. Projected 2022 will be at least 1.5°C above pre-industrial levels, and 2023 at 1.45°C. Forecasts show that 2025 will be at least 1.29°C warmer, and probably closer to 1.4°C, making it the fourth hottest year just ahead of 2020. However, the dwindling effects of the El Niño weather pattern that boosted 2023 and…
Islamabad, Dec 13: Pakistan has taken some action to provide the security of its citizens stuck in Syria because of the increasing violence in the region. According to the reports over 350 Pakistanis have been received in Lebanon safely. They have already made arrangements for their journey back to Pakistan; one of them will likely be picked up on a special flight from Beirut Airport in the next two days. The Civil Aviation Authority has been assigned this task on the orders of Prime Minister Shehbaz Sharif.” Pakistan Condemns Israeli Actions in Syria The British Foreign Secretary firmly condemned Israel’s…
Islamabad, Dec 13: The Lahore traffic police have fined a motorcyclist rushing through Mughalpura Rs. 1,54,000 for violation of traffic signal violations. Speaking to the media, the CTO said that; ‘the motorcyclist made 86 offences which included 73 cases of riding in the street without a helmet, 9 offences of ran red light, 3 one-way traffic offences and 1 case of indiscipline by changing from one lane to another. The fine believed to be near the price of a new motorcycle send a strong message about the gravity of defying traffic laws. The motorcycle was confiscated and can be retrieved…
Islamabad, Dec 13: NADRA has blocked more than 71000 CNICs in Pakistan during the last five years: NADRA. Again, in the same order, the highest number of blocked cards related to buying foreign currency came from the Khyber Pakhtunkhwa, Balochistan and Punjab. Of these, over 44,900 CNICs that had been suspended were restored after using verification processes and over 13,100 CNICs are still in suspense. On the other hand, the Sindh government has recommended that problems associated with blocked IDs should be tackled by modifying the Citizenship Act. Also, the government has barred or blocked around 80 000 SIMs in a…
Islamabad, Dec 12: Starting January 1, 2025, at 10:00 AM (UTC+7), foreign nationals in Pakistan and Afghanistan wishing to apply for a Thai visa will need to use the new online e-Visa platform at https://www.thaievisa.go.th. The Royal Thai Embassy in Islamabad announced that applicants will no longer need to submit passports or original documents in person. However, since online payment is not yet available, applicants must pay the visa fee at the embassy located at Plots No. 1-20, Diplomatic Enclave, Sector G-5/4, Islamabad. Once an e-Visa is approved, applicants will receive a confirmation email, which must be printed and presented…
