Islamabad, Sep 23: Peshawar, the economic center of Khyber Pakhtunkhwa, is set to establish its first Expo Centre, with funding approved by the Export Development Fund (EDF) Board. This was announced during the 85th meeting of the EDF Board, chaired by Minister for Commerce Jam Kamal Khan on September 20, 2024. The Expo Centre will provide a platform for international-level exhibitions, benefiting entrepreneurs in Khyber Pakhtunkhwa by attracting national and international investors. Experts believe the Expo Centre will boost trade and economic growth, especially due to Peshawar’s strategic location near Central Asian countries. The facility is expected to create jobs,…
Author: Mawadat Fatima
Islamabad, Sep 23: Dr. Sarosh Lodhi, the Shaikh-ul-Jamia of NED University, clarified that the university is not responsible for the mismanagement during the MDCAT test held at NED and Dow Ojha Campus. He pointed out that while NED University provides facilities for the test, the administration, security, and overall execution are handled by the Pakistan Medical and Dental Council (PMDC). Dr. Lodhi urged the public not to associate NED with any issues arising from the test, emphasizing the university’s strong track record of conducting its own entrance exams with discipline and organization, which has been well-documented in the media. He…
Islamabad, Sep 22: UK Trade Commissioner for Middle East and Pakistan Oliver Christian has landed in Islamabad on his first visit to Pakistan, kicking off a three-day effort to strengthen the UK’s economic and trade links with Pakistan. During his visit, Christian will announce significant new partnerships, including a strategic Transnational Education agreement between Beaconhouse International College and the University of Essex; and collaboration between Imperial Healthcare NHS Trust at the Novacare Hospital in Islamabad. These initiatives are set to deepen the UK’s investment in Pakistan’s education and healthcare sectors. The University of Essex partnership aims to provide Pakistani students…
Islamabad, Sep 22: Ravichandran Ashwin delivered an outstanding all-round performance as India secured a convincing 280-run victory over Bangladesh in the first Test, taking a 1-0 lead in the series. Ashwin’s six-wicket haul, combined with his century (113) in the first innings, played a pivotal role in dismantling the Bangladeshi batting lineup. Chasing a daunting target of 515, Bangladesh began day four at 158-4. Despite a brief resistance from Najmul Hossain Shanto (82) and Shakib Al Hasan (25), Ashwin’s early dismissal of Shakib initiated a collapse, leading to Bangladesh being bowled out for 234. This victory marked Bangladesh’s continued struggle…
Islamabad, Sep 22: The planning minister recently approved several significant infrastructure projects aimed at enhancing connectivity and resource management in Pakistan. One notable initiative is the “Greater Water Supply Scheme for Central Hunza from Attabad Lake (Revised),” with an estimated cost of Rs. 2,075.667 million. The Minister emphasized the need for integrating solar energy projects into this scheme to promote sustainability in the region. In the Transport & Communications sector, five key projects were discussed. The “Inter-Regional Connectivity Between Baltistan Division & Diamer Astore Division” project, which involves constructing a 105-km road from Kachura to Astore Valley, was referred to…
Islamabad, Sep 22: The Directorate General (DG) of Immigration and Passports has announced that the backlog of passport applications in major cities like Karachi, Lahore, Islamabad, Rawalpindi, Peshawar, and Quetta has been successfully cleared. Previously, many citizens had expressed frustration over delays, with the passport-issuing process taking months instead of the usual three weeks. In 2024, regular fee passports faced significant delays, while urgent fee green books took up to two months to issue. The Passport and Immigration Department had encountered issues such as ink shortages and a lack of lamination paper, which have now been resolved. However, limited printing…
Islamabad, Sep 22: The Power Division of Pakistan has successfully recovered over Rs114 billion in a nationwide crackdown on power theft. This initiative, supported by the government and military leadership, aims to bolster the country’s economy and is yielding positive results. The operation has led to the arrest of over 84,500 individuals involved in electricity theft. In September alone, institutions collected more than one billion rupees from offenders in cities like Lahore, Gujranwala, Faisalabad, Multan, and Islamabad. Initiated on September 6 of the previous year, the crackdown targets rampant electricity theft, which significantly contributes to the circular debt crisis in…
Islamabad, Sep 22: Pakistani bond yields have dropped to a 2-year low, with notable declines across various maturities. The 1-year bond is now trading at 15.21%, the 3-year bond at 12.98%, the 5-year bond at 13.17%, and the 10-year bond at 12.87%. According to a brief review by Topline Securities, bond yields have fallen by 374 to 952 basis points from their peak in September 2023. This decline is accompanied by a decrease in the 6-Month KIBOR, now standing at 16.29%, also a 2-year low. The reduction in bond yields reflects improved market conditions, driven by falling inflation and a…
Islamabad, Sep 22: Rising global prices have led to a sharp decline in Pakistan’s gold imports. According to official documents, gold imports have fallen by 41.64% annually. In August, only 22 kilograms of gold were imported, totaling an import bill of $1.742 million. This marks a significant drop from the 47 kilograms imported during the same month last year, which cost $2.985 million. In July, Pakistan imported 32 kilograms of gold with an import bill exceeding $2.196 million. The cumulative gold imports for July and August of the current fiscal year amounted to 54 kilograms, worth $3.938 million. This represents…
Islamabad, Sep 22: The Federal Board of Revenue (FBR) has issued a stern warning to taxpayers who fail to file their income tax returns by the deadline of September 30, 2024. According to FBR, consequences for non-filers include the blocking of mobile phone SIMs, cutting off electricity and gas connections, and a ban on international travel. FBR has notified non-filers via email, reminding them that under Section 114(1)(b)(vii) of the Income Tax Ordinance, 2001, individuals with taxable income must submit their tax returns for the year 2024 by the specified deadline. Failure to comply may result in significant penalties. The…
