Islamabad, Mar 21, 2025: As the world marks World Glacier Day, environmental experts have expressed deep concerns about the rapid melting of glaciers in Azad Kashmir due to climate change. This alarming trend poses a significant threat to the region’s water supply and ecological balance. Azad Kashmir is home to 224 glaciers, spanning 109 square kilometers, primarily in the Neelum Valley. According to climate scientist Dr. Sardar Muhammad Rafiq, these glaciers are melting at an unprecedented pace. He revealed that the region’s temperature has risen by over two degrees Celsius in the past six decades—higher than the global average. “If…
Author: Mawadat Fatima
Dubai, Mar 21, 2025: The Ministry of Human Resources and Emiratisation (MOHRE) has issued a strict warning to private sector businesses and employers regarding the employment of individuals without valid work permits. This includes trial periods and domestic workers, emphasizing that all employees must have official authorization before beginning work. According to MOHRE’s latest statement published in Human Resources Magazine, anyone holding a valid work permit is fully protected under UAE labor laws. Employing individuals without proper documentation is a direct violation of the UAE Labour Relations Law, leading to serious consequences for businesses. To curb illegal employment practices, MOHRE…
Islamabad, Mar 21, 2025: The federal government has introduced adjustments to the profit rates of national savings schemes, increasing returns on several certificates while reducing the savings account rate. The changes, implemented by the Central Directorate of National Savings (CDNS), aim to align returns with prevailing economic conditions. Following the State Bank of Pakistan’s (SBP) decision to maintain the policy rate at 12%, CDNS has revised multiple profit rates. The Short-Term Savings Certificate (STSC) now offers a slightly higher return, rising from 10.81% to 10.96%, marking an increase of 15 basis points (bps). Similarly, the Defence Savings Certificate (DSC) has…
Islamabad, Mar 21, 2025: HBL Zarai Services Limited (HZSL) and Zarai Taraqiati Bank Limited (ZTBL) have signed a strategic Memorandum of Understanding (MoU) to enhance financial access and modern farming practices for farmers across Pakistan. This collaboration aims to provide innovative financial solutions, mechanization support, and expert advisory services to improve agricultural productivity and economic stability. As part of this initiative, both organizations will leverage their respective platforms—‘HBL Zarai Deras’ and ‘ZTBL Zarai Baithaks’—to create integrated hubs for farmers. These platforms will offer agronomic guidance, financial support, and mechanization services, ensuring a streamlined approach to modernizing Pakistan’s agriculture sector. Additionally,…
Islamabad, Mar 21, 2025: Pakistan’s foreign exchange reserves have experienced a slight boost, according to the latest data released by the State Bank of Pakistan (SBP). As of March 14, SBP’s foreign currency reserves stood at $11.147 billion, reflecting an increase of $49 million from the previous week’s $11.098 billion on March 7. The overall liquid foreign exchange reserves, which include holdings by both SBP and commercial banks, reached $16.016 billion, marking a weekly increase of $87 million. This rise signals a positive trend in the country’s external financial position, providing some stability amid ongoing economic challenges. Furthermore, commercial banks’…
Islamabad, Mar 21, 2025: The State Bank of Pakistan (SBP) has taken another step toward enhancing digital financial services by granting in-principal approval to Paysa Technologies, a promising fintech operator. With this approval, Paysa Technologies has secured an Electronic Money Institution (EMI) license, allowing it to introduce a range of digital payment solutions. These include e-money wallets for consumers and businesses, as well as POS and QR payment services, further driving Pakistan’s shift toward a cashless economy. Founded in 2022, Paysa Technologies aims to simplify online transactions for individuals and businesses, offering secure and efficient financial solutions. The company is…
Islamabad, Mar 21, 2025: The Securities and Exchange Commission of Pakistan (SECP) has introduced a key amendment allowing life insurance companies to use their shareholders’ funds to purchase adjustable advance withholding tax or refundable tax recorded in the statutory funds. This update was announced through S.R.O. 312(I)/2025, amending the Insurance Accounting Regulations, 2017. The change was approved by the Securities and Exchange Policy Board to provide insurers with greater financial flexibility. Key Highlights of the Amendment As per the new regulations: Tax Allocation Rules – The advance withholding tax or refundable tax related to a life insurer’s shareholders’ fund must…
Islamabad, Mar 21, 2025: Pakistan is on track to secure a staff-level agreement with the International Monetary Fund (IMF) by the end of April, as the lender has acknowledged significant progress in key economic reforms, according to sources from the Finance Division. Additionally, the IMF is expected to approve $1.2 billion in climate financing, with disbursement likely to take place through the Executive Board alongside the next loan tranche next month. Insiders revealed that Pakistan’s current economic indicators align well with IMF expectations, demonstrating notable improvements in February and March. Analysts anticipate that the Pakistani Rupee will maintain stability within…
Islamabad, Mar 20, 2025: A headmaster in Lahore was suspended on Wednesday after being caught facilitating cheating during the matriculation exams. Authorities took strict action following reports that the school official was directly involved in helping students bypass exam regulations. According to the examination squad’s controller, an inspection was conducted to monitor the conduct of the examination staff. During the investigation, officials found strong evidence linking the headmaster to malpractice. Upon checking the mobile phones of the examination staff, authorities discovered roll number slips and a fully solved question paper, confirming suspicions of misconduct.
Islamabad, Mar 20, 2025: The Pakistan Stock Exchange (PSX) has reached a new historic peak, with the KSE-100 Index closing at an all-time high The market witnessed a significant surge, gaining 796 points to settle at a record-breaking 118,770 points. Over the last six months, the PSX has shown remarkable bullish momentum, consistently setting new benchmarks.
