Pakistan’s Minister for Religious Affairs, Chaudhry Salik Hussain, has arrived in Saudi Arabia to assess the arrangements for the upcoming Hajj pilgrimage. As thousands of Pakistani pilgrims begin to arrive in the holy cities, Minister Hussain’s visit aims to ensure smooth operations for the annual Islamic pilgrimage. Hajj, one of the five pillars of Islam, mandates every financially and physically capable adult Muslim to undertake the journey to the holy sites in Makkah at least once in their lifetime. This year, Pakistan’s Hajj quota stands at 179,210 pilgrims, with 63,805 individuals participating under the government scheme and the remainder through…
Author: WebDesk
Deputy Prime Minister and Foreign Minister, Mohammad Ishaq Dar addressed the leadership of prominent Chinese business enterprises, chambers of commerce and associations in Beijing today. The Deputy Prime Minister underscored the commendable role played by Chinese companies in the development of energy and transport infrastructures in CPEC’s first phase.He highlighted Business to Business (B2B) linkages as a priority in CPEC’s second phase. He encouraged the Chinese State Owned and Private Enterprises to take advantage of Pakistan’s business friendly policies, competitive workforce and preferential market access to establish and expand their operations in the country. He emphasizedthat the investments of Chinese…
Faysal Bank Limited (FBL) Pakistan’s fastest growing Islamic bank, inaugurated its Multan Regional Head office building, including a flagship branch for its Priority customers. On the occasion, Mr. Yousaf Hussain, President & CEO, Faysal Bank, hosted a reception for key business leaders from the Southern Punjab region. Mr. Yousaf said, “We are privileged to further enhance Faysal Islami’s strong presence in the Multan Region. The Bank will continue to further strengthen its partnership with local businesses within industrial, commercial, SME, agriculture, and retail segments.” He thanked all the customers for their support and patronage in making Faysal Bank a leading…
Ministry of Federal Education shall conduct a comprehensive review of out of school children and develop targeted interventions. Plan to be shared for consideration of the Prime Minister. Out of School Children Fund, earmarking minimum Rs. 25 billion is 5 years, shall be established to support innovative and effective strategies aiming to reduce out of school children in the country. Ministry of FE&PT shall propose a task force, for Prime Minister’s approval, to devise and implement strategic solutions to the educational crisis at national as well as provincial level. The taskforce shall report directly to the Prime Minister’s Office, comprising…
Despite facing macroeconomic hurdles, Jazz has pledged a substantial investment of PKR 5.3 billion towards the digitalization of its services, aimed at enhancing customer experiences across Pakistan. In a recent tweet on X, Jazz CEO Aamir Hafeez Ibrahim expressed gratitude to customers for their continued trust in Jazz as their digital connectivity partner. He also hinted at Jazz’s future plans to further amplify technological advancements to facilitate seamless connectivity for customers. Ibrahim’s tweet stated: “Another quarter dedicated to fortifying Pakistan’s digital ecosystem across #fintech, #cloudservices, and #entertainment domains. A heartfelt thank you to our esteemed customers for choosing us as…
The Pakistan Super League (PSL) franchises have expressed their opposition to the Pakistan Cricket Board (PCB)’s proposal to schedule the tenth edition of the league during the same period as the 2025 Indian Premier League (IPL) season. The PCB is considering adjusting the PSL schedule, traditionally held from mid-February to mid-March, due to the ICC Champions Trophy set to take place in Pakistan in February-March 2025. During a crucial PSL Cricket Committee meeting on Tuesday, franchise representatives voiced strong concerns about the proposed scheduling change and the suggestion of increased pay for marquee players. They argued that higher payments to…
The price of gold in Pakistan has increased for the second consecutive day, reaching Rs. 245,600 per tola on Thursday. Data from the Karachi Sarafa Association indicates that the price of 24-carat gold rose by Rs. 1,600 per tola to Rs. 245,600, while the price of 10 grams increased by Rs. 1,371 to Rs. 210,562. Earlier in the week, the local market saw gold prices drop by Rs. 1,200 each on Monday and Tuesday. However, on Wednesday, gold prices rebounded, gaining Rs. 2,900 per tola, offsetting the losses from the previous two days. In the international market, spot gold remained…
Prime Minister Shehbaz Sharif has directed the National Electric Power Regulatory Authority (NEPRA) and the Power Division to revise net metering rules to rationalize buyback rates. During a recent meeting with the Prime Minister, the Power Division raised concerns about the financial impact of widespread net metering by consumers, leaving the ministry with no option but to reduce the buyback rates to Rs. 11-12 per unit, as reported by Business Recorder. The International Monetary Fund (IMF) is also pressing for full-cost recovery of electricity from consumers. The meeting concluded that the Power Division would refine and present a summary to…
The UAE has unveiled a new long-term residency visa, the ‘Blue Residency,’ aimed at individuals who have made exceptional contributions to environmental protection. This 10-year visa is designed to recognize and support those involved in sustainability initiatives both within the UAE and globally. Who Can Apply? The Blue Residency visa is available to a diverse group of environmental advocates, including: Application Process Eligible individuals are invited to submit their applications through the Federal Authority for Identity, Citizenship, Customs, and Port Security. Additionally, relevant authorities have the capability to nominate candidates for this long-term residency. Official Statements and Context Sheikh Mohammed…
ISLAMABAD: Pakistan’s total debt and liabilities have surged to nearly Rs81 trillion, marking a significant increase as the country struggles to find new financing sources to meet its growing debt servicing needs due to junk credit ratings. According to the State Bank of Pakistan (SBP), the country’s total debt and liabilities increased by Rs8.4 trillion by the end of March compared to the previous year. This new record includes Rs4.4 trillion in liabilities, pushing the debt and liabilities burden to about three-fourths of the nation’s economy and approximately 15% higher than the statutory limit set by the Fiscal Responsibility and…
