The State-Owned Enterprises (Governance and Operations) (Amendment) Ordinance, 2024 was unanimously passed by the National Assembly Standing Committee on Finance and Revenue. The federal government can now designate or remove board members of government entities thanks to the new legislation. The revised law makes a number of significant adjustments. The Ministry of Energy (Power Division) expressed concerns, and the Law and Justice Division collaborated with the preparation of the SOE (Governance and Operations) (Amendment) Ordinance, 2024. The federal government has directed the Board Nomination Committee to take charge of finding and endorsing applicants for nomination as independent directors, a role…
Author: Mawadat Fatima
The following exchange rates bulletin was released here on Wednesday by the Financial Markets Association of Pakistan’s Exchange Rates Committee. Value Date of SBP Settlement: July 12, 2024, USD 278.3000 GBP 356.1683 EUR 301.0093 JPY 1.7293
On Wednesday, President Asif Ali Zardari expressed sorrow over the deaths caused by a vehicle that went into a river in Azad Kashmir’s Neelum Valley. The president expressed his sorrow to the bereaved families and prayed to Allah Almighty for fortitude to endure the loss, as well as for peace for the departed souls. Media sources state that when the driver lost control of the jeep and it crashed into River Neelum, up to ten persons killed and three more were injured.
Ishaq Dar, the foreign minister and deputy prime minister, presided over a meeting of the Executive Committee of the National Economic Council (ECNEC) in Islamabad. The current main line-1 (ML-1) of Pakistan Railways was cleared for upgrade with a reduced scope. Phase I of the project, which covers the 929 km between Karachi and Multan, would be prioritized. A project named “Flood Response Emergency Housing Project (Phase-I),” which would be financed by a loan from the Asian Development Bank, was also taken into consideration and authorized by the ECNEC. The initiative is to assist the people of Sindh who have…
LAHORE: of set the nation on the path of growth, President Asif Ali Zardari has advocated for the adoption of a comprehensive strategy and responsible financial practices. He claimed that the economy’s many sectors, particularly the agricultural one, needed to be developed in a contemporary manner. The province governments will take the lead in enacting legislation to tax big landholding farmers based on their income and expenses, even if the federal government intends to tax agricultural revenue in compliance with IMF regulations. These are the words that the president spoke at the Professor Waris Mir Memorial Seminar on Tuesday. Attendees…
KARACHI: The stock market maintained its record-breaking run-on Tuesday, pushing the index to a new intraday high above 81,000 as confidence about quickly achieving a Staff-Level Agreement with the International Monetary Fund (IMF) grew. According to Arif Habib Corporation’s Ahsan Mehanti, uncertainty around PSX’s results season caused equities to end at an all-time high. With hopes for large dividend payments, certain energy and financial scrips led this. The government’s discussions on privatizing failing state-owned businesses and market hopes for a resolution to the $15 billion China energy debt restructure ahead of the IMF’s new rescue accord, he said, contributed to…
KARACHI: According to a report released by the central bank on Tuesday, the country received over $30 billion in remittances in FY24, representing a 10.7% rise over the previous fiscal year. Inflows for the previous month also increased by 44% year over year. Although the country’s receipts for FY22 were less than the record $31.3 billion, they were still about $3 billion greater than those for FY21. Remittance growth has already outpaced export revenue growth, indicating the growing reliance of the economy on Pakistanis living abroad. The State Bank reports that remittances totaled $30.3 billion in FY24 as opposed to…
Pakistan has made great progress in creating a flourishing and dynamic startup environment in recent years. With more than 220 million people living there and an increasingly tech-savvy younger generation, Pakistan offers a promising environment for new businesses and entrepreneurs. Pakistani Startups Pakistan’s startup environment ought to have been booming for many years now, just based on demographics. To begin with, with close to 230 million people, it has the sixth highest population in the world. Additionally, with a median age of 22, this population is mainly youthful and bilingual, speaking English since it is the fourth most spoken language…
Pakistan’s economic growth is significantly influenced by its actual situation. The World Bank estimates that a nation’s real estate holdings make up between 60 and 70% of its entire wealth; if these figures were applied to Pakistan, the real estate sector’s projected size would be $300–400 billion. 2019 has not been a good year for real estate due to several financial, economic, and political obstacles. However, there is a great deal of optimism over the real sector’s expansion in 2020. The real estate industry has been taken over by uneducated brokers and agents who lack the expertise to help clients…
For many Pakistani families, having a dependable and reasonably priced automobile is essential in these tough economic times. The most inexpensive automobile prices have increased the need for economical solutions, making the decision to buy a car more important. We provide a carefully chosen list of Pakistan’s top vehicles under 35 lacs for 2024 in order to lessen this strain. Review Of Cars with Best Price In 2024 Many automakers have reduced the prices of various models and variations in the last two or three months. This was anticipated because no manufacturer wanted to witness a decrease in sales, and…
