Islamabad, Sep 1: With the government slashing the price of petroleum for the next two weeks, Prime Minister Shehbaz Sharif on Saturday provided respite to the citizens. The price reductions of Rs1.86 and Rs3.32, respectively, for gasoline and high-speed diesel (HSD) have been approved by the federal government. The price reduction was implemented in accordance with the global market’s declining trend. The notification stated that the revised prices would take effect on September 1. The cost of a litre of gasoline has dropped from Rs260.96 to Rs259.10. In the meantime, the government has lowered the cost of high-speed diesel (HSD)…
Author: Mawadat Fatima
Islamabad, Aug 31: Five significant Pakistani banks had their ratings raised by international rating agency Moody’s on Saturday due to the nation’s improving economic circumstances. The five banks’ long-term deposit ratings have been raised from Caa3 to Caa2. Habib Bank Limited, United Bank Limited, Allied Bank Limited, National Bank of Pakistan, and MCB Bank Limited are among the banks. Additionally, Moody’s upgraded the stable to positive outlook for each of the five banks. The move follows a downgrade of Pakistan’s credit rating from CAA3 to CAA2, along with a change in the outlook from stable to positive, by Moody’s. The…
Islamabad, Aug 31: Plans to decrease the number of low-wage temporary foreign workers and permanent residents admitted to Canada were revealed by Prime Minister Justin Trudeau. During the second day of a cabinet retreat aimed at determining the government’s autumn agenda, the announcement was made on Monday. This choice was made at a time when Canada’s population is expanding quickly, putting a burden on public services like healthcare and housing, according to experts. Federal figures show that immigration accounted for 97% of Canada’s population growth in the previous year. Trudeau and his administration have come under fire for raising immigration…
Islamabad, Aug 31: In light of the unprecedented revenue shortfall that occurred in August 2024, the Federal Board of Revenue (FBR) Chairman has made the decision to assess each Inland Revenue Commissioner’s performance using tax collection statistics from July and August. According to sources, FBR ordered all Chief Commissioners IR on Saturday to submit commissioner-specific income performance information for August 2024. The FBR has requested targets for July 2023 and 2024 to be allocated to each field office in addition to net collection. In a similar vein, statistics about net collection and targets assigned for August 2023 and 2024 must…
Islamabad, Aug 31: A few years back, a middle-class person might afford to buy a brand-new, high-end two-wheeler like a GS-150, CB 150, or GR 150. But in just a year or two, with the fast increase in bike prices and the uneven inflation surge, this has been harder and harder. In the present day, diminishing sales have compelled regional producers to introduce several alluring offers in an attempt to entice clients. Pakistan Suzuki Motor Company (PSMC) has now debuted a 0% markup offer for its GS-150 model, after large markdowns on its auto models. The business just announced on…
Islamabad, Aug 31: State Life Insurance has warned that it may terminate the Sehat Sahulat Program at Pakistan Institute of Medical Sciences (PIMS) Hospital due to continued concerns regarding patient care and the quality of drugs provided under the scheme. The insurance company followed up with the PIMS management, emphasizing how urgently these issues needed to be resolved. State Life Insurance pointed out in the letter that the PIMS management has not yet taken any corrective action, in spite of prior correspondence regarding the need to raise treatment standards and supply higher-quality medications. The hospital’s disregard for these norms, according…
Islamabad, Aug 31: In Khyber-Pakhtunkhwa’s Malakand Division, the cost of non-custom paid vehicles has increased dramatically due to speculations of a government amnesty program for these vehicles. The Federal Board of Revenue (FBR), however, has refuted these allegations, emphasizing that no such plans are presently in existence and that only the federal government has the authority to declare such an amnesty. The trade of non-custom paid (NCP) automobiles persists in Malakand Division, seven Gilgit-Baltistan districts, and the recently combined districts of the former FATA, despite the Federal Bureau of Revenue’s repeated explanations. Dealers stand to gain as a 20–25% price…
Islamabad, Aug 31: The results of the 2024 Matric General Group exams, which included regular and private students as well as those with speech and hearing impairments, were released by the Board of Secondary Education Karachi (BSEK) on Friday. Girls took the top three spots in the tests, according to BSEK. The results were announced by BSEK Acting Controller of Examinations Tariq Kareem, and BSEK Secretary Dr. Naveed Ahmad commended the staff and teachers for their efforts in making sure the results were released on time. He reported that out of the 16,384 students who registered for the General Group…
Islamabad, Aug 31: Internet outages in Pakistan this month are causing alarm among businesses already struggling in a troubled economy. Executives, investors, and tech industry leaders warn that these disruptions are hurting business operations and making investors nervous. This occurs at a pivotal moment when Pakistan’s ability to break free from its ongoing economic problems hinges on the expansion of its information technology sector. Internet monitoring organizations have noted a discernible decline in internet speeds as well as service outages impacting well-known websites such as WhatsApp, the popular messaging program owned by Meta that is extensively utilized in Pakistan. The…
Islamabad, Aug 31: 200 million individuals use ChatGPT, the well-known AI chatbot, on a weekly basis, marking a significant milestone. This signifies a noteworthy expansion of the service, since its user base has doubled since November. The increase in popularity of artificial intelligence and ChatGPT’s standing as a top generative AI tool are probably the main causes of the user boom. The company that created ChatGPT, OpenAI, claims that an astounding 92% of Fortune 500 businesses have used its products. Moreover, the usage of OpenAI’s automated API has doubled since the GPT-4o Mini was released last month. CEO of OpenAI…
