Islamabad, Sep 4: Pakistan has not yet been added to the agenda of the International Monetary Fund’s (IMF) executive board meetings, which are set for September 13. The executive board meeting scheduled for September 4, 6, 9, and 13 has been rescheduled by the IMF, according to the Fund’s website. However, the 37-month Extended Fund Facility Arrangement (EFF) of approximately $7 billion for Pakistan is not included in the agenda. On July 12, the IMF delegation and the Pakistani government came to a staff-level agreement on a 37-month EFF for SDR 5,320 million, or almost USD 7 billion. This agreement…
Author: Mawadat Fatima
Islamabad, Sep 4: Eight development projects totaling Rs. 144.3 billion were approved by the Central Development Working Party (CDWP) during a meeting presided over by Minister PDSI and Deputy Chairman of the Planning Commission Ahsan Iqbal. The almost Rs. 53 billion Nawaz Sharif Cancer Hospital project was approved by the federal government in a hurry without the completion of the required thorough feasibility study and business plan. Despite having substantial gaps in its preparation, the project was approved by the Central Development Working Party (CDWP). Of these, the CDWP forum has authorized five projects totaling Rs. 15.35 billion, and it…
Islamabad, Sep 3: Former Nokia phone manufacturer HMD Global seems to be taking cues from a treasured classic: the Nokia Lumia 1020. Just as people are still drawn to vintage flip phones, so too are diehard Nokia fans to the Lumia’s unique design, especially its recognizable round camera bump. A new Nokia model that has been leaked bears a striking resemblance to the Lumia 1020. The leaked outline reveals a large circular camera island on the back that is centered and holds four lenses as well as an LED flash. This design decision pays homage to the Lumia 1020, which…
Islamabad, Sep 3: Pakistan has advanced in its efforts to secure pledges from outside sources of funding, which will facilitate the launch of the new $7 billion International Monetary Fund (IMF) program. In a televised speech, Finance Minister Muhammad Aurangzeb stated that the federal government anticipates receiving final loan approval from the IMF Executive Board on schedule. In addition, Aurangzeb stated that the government would not “take back” the proposed tax on merchants and would instead raise it to at least 13 percent of GDP. According to him, the tax-to-GDP ratio of 8.8% is unsustainable at this point. In order…
Islamabad, Sep 3: Residents in Punjab will likely suffer more financial strain as a result of the impending introduction of a new property tax by the government. The Punjab Excise and Taxation Department has been instructed to create a comprehensive list of all residential properties in the province by the end of next month, according to a private news channel. Homes that are five marlas or larger will be subject to this new tax, whose rates are determined by the property’s assessed value. Properties that are worth more than Rs. 5 million will be subject to this tax rate.The action…
Islamabad, Sep 3: Later this week, Lenovo will present a new range of cost-effective Copilot Plus PCs at the IFA trade expo. The enlarged Copilot Plus family will include two intriguing variants powered by an as-yet-unannounced 8-core Qualcomm Snapdragon X Plus CPU, according to leaked marketing documents released by well-known source Evan Blass. These new laptops are expected to be less expensive than the Copilot Plus PCs that are on the market right now. The IdeaPad 5x 2-in-1, a convertible laptop with a 14-inch OLED display, and the IdeaPad Slim 5x, a stylish clamshell notebook with a 14-inch OLED display…
Islamabad, Sep 3: Microsoft’s Windows 11 operating system has overtaken Windows 10 in usage among Steam users for the first time since its release in 2021, potentially marking a turning point in the new OS’s adoption rate, at least for gaming. Even after Microsoft declared that it would stop supporting Windows 10 in October 2025, the older operating system was still quite popular among users. But the most recent information from Steam’s August hardware survey indicates a change. While Windows 10 usage decreased by a similar amount to 47%, Windows 11 usage increased by more than 3% to reach 49%.…
In August 2024, Pakistan’s trade deficit decreased by more than 20 percent, reaching an 11-month low of $1.675 billion. Data released on Tuesday by the Pakistan Bureau of Statistics (PBS) show that the trade deficit of the nation decreased by 20.5 percent in August 2024 compared to the $2.108 billion reported in August 2023. Additionally, the trade deficit decreased by 12% from the $1.904 billion recorded in July 2024. August 2024 exports totaled $2.743 billion, up 18.9 percent from the previous month and 15.9 percent from the same month the year before. Imports went down by 1.3 percent in August…
Islamabad, Sep 3: Bangladesh won the second Test at Rawalpindi Cricket Stadium to seal a historic 2-0 series victory over Pakistan. It was their first-ever series win against the hosts. On the last day, the Tigers took six wickets as they pursued a goal of 185 runs. Veteran cricketers Shakib Al Hasan and Mushfiqur Rahim led the way, finishing undefeated with scores of 21* and 22*, respectively. Bangladesh won their historic series against Pakistan thanks to their calm collaboration, which also marked their first-ever Test series win. Opening batsman Zakir Hasan got Bangladesh’s run chase off with a blistering forty-odd…
Islamabad, Sep 3: LDA teams sealed eighteen properties on Multan Road as part of an operation against commercial fee defaulters, as directed by LDA DG Tahir Farooq. Director of Town Planning Zone 2, Ahmed Saeed, supervised the operation under the direction of Chief Town Planner 1, Asad Zaman. The action also featured police and the LDA Enforcement Squad. Electronic stores, paint stores, workshops, furniture stores, and other businesses were among the sealed premises; they are all in debt to the tune of millions of rupees for commercial fees. Before the operation, Asad Zaman pointed out that these properties had received…
