Ministry of Finance is considering a stimulus package to support the economy, Bloomberg reported on Tuesday. Finance Minister, Shaukat Tarin, is reportedly leading the initiative, which will contain monetary, fiscal, or both elements. The details of the stimulus package have not been shared so far, as it is still a work in progress, the report added. The minister also told the media that no formal proposal exists so far. Pakistan is expecting the growth rate to clock in at 3.9 percent for the fiscal year ending June 30, 2021. However, the second and third waves of the coronavirus are also…
Category: Tech and Telecom
Realme Smart TV 4K Launched in 43-Inch and 50-Inch Models
Alongside its X7 Max 5G smartphone, Realme has also launched its 4K smart TV in India. The television is available in two sizes – 43-inch and 50-inch with identical specifications. Design and Display Both variants of the Realme Smart TV come with an LED-backlit LCD panel featuring 3840 x 2160 pixels resolution, 1.07 billion colors, 16:9 aspect ratio, and 178° viewing angle. In addition to this, the display supports 90% DCI-P3 color gamut, 83% NTSC color gamut, and Dolby Vision. The TV also comes with TÜV Rheinland certification for low blue light mode and Realme’s proprietary Chroma Boost color profile.…
Is Getting Different Vaccines on 1st or 2nd Dose a Problem?
As Pakistan’s immunization drives pick-up speed, there are growing concerns about mismatched doses of the COVID-19 vaccines being administered as healthcare professionals advise getting the same vaccine in case of a double dose vaccine due to the lack of research on the matter. People have reportedly been given the AstraZeneca vaccine as a second dose after initially being administered the Chinese vaccines. China-supplied vaccines like SinoPharm and SinoVac were well received by the public that is now apprehensive about the AstraZeneca vaccine. ALSO READ Vaccine Registration for People Above 18 Starts on June 3 Health experts assert that the government…
SCB Has Shut Down Half of Its Branches in Pakistan
Standard Chartered Bank (SCB) claimed to maintain high-class banking services, but its accessibility is limited for the customers since it has curtailed its branch network by over 50 percent in the last five years, it is learned. The bank with 101 branches in 2015 is now operating merely with 49 branches, including 3 Islamic branches in 10 cities. The management of the bank has shut down branches that they thought as loss-making and costly in terms of operations and shifted its focus towards corporate banking and digital banking as the main business strategy to do business in Pakistan. The bank…
Man Spends 26 Years to Give Holy Quran a New Look
Mushtaq Ahmed, an 85-year-old resident of Karachi, has made an outstanding contribution to the global Islamic outlook by spending over 26 years giving the Holy Quran a new look. He wrote the verses of the holy book based on the principles of geometry in a first-of-its-kind manuscript that does not incorporate the scripts of languages that are spoken today. ALSO READ Kuwait Allows Family and Business Visas for Pakistan After 10 Years Mushtaq Ahmed took up this job at the age of 60 — an age when after undergoing a lifetime of hardships and the realities of the world, people often…
Chinese Vaccine Sinovac Reduces Mortality by 97%
An immunization campaign in Uruguay has revealed that the Chinese coronavirus vaccine Sinovac reduces mortality by 97 percent. According to a report by the Uruguayan Ministry of Health, the chances of coronavirus infection reduces by 57 percent, and intensive care admissions by 95 percent in people who have received two doses of the vaccine. ALSO READ Govt to Buy 10 Million Doses of COVID-19 Vaccine in June There have been fewer scientific publications on the efficacy of the Sinovac vaccine as compared to other vaccines, and the reports have been widely divergent. Regardless, Sinovac is being widely used in China…
Korea Loans $76.28 Million to Build IT Park in Islamabad
The government has received a loan of $76.28 million from the Republic of Korea for the establishment of the Information Technology Park project in Islamabad. The Ministry of Information Technology and Telecommunication has confirmed that the government of Pakistan has received a loan of $76.28 million from the Export-Import Bank of Korea from the resources of the Economic Development Cooperation Fund (EDCF) of the Republic of Korea toward the cost of the establishment of the IT Park Project, Islamabad and intends to apply a portion of the proceeds of this loan to payments under the contract for the establishment of…
FBR Surpasses 11 Months Tax Collection Target by Rs. 173 Billion
The Federal Board of Revenue (FBR) has provisionally collected taxes of Rs. 4,167 billion during July-May (2020-21) against the projection of Rs. 3994 billion, reflecting a handsome increase of Rs. 173 billion. ALSO READ PM Imran Lauds FBR for Collecting Record Revenues Top FBR officials told Propakistani that the federal tax collection of the Federal Board of Revenue (FBR) stood at Rs. 4,167 billion during July-May (2020-21) against Rs. 3,532 billion in the same period of 2019-20, showing a growth of 17 percent. The FBR revenue collection is expected to cross Rs. 470 billion after compilation of final figures. ALSO…
Parliamentary Committee Discusses Progress on Privatization of Pakistan Steel Mills
The 16th meeting of the Standing Committee on Industries and the Production of the National Assembly was held under the chairmanship of the MNA Sajid Hussain Turi. The Director-General, Privatization Commission, briefed the committee about the salient features of the privatization of Pakistan Steel Mills (PSM) and its retrenchment plan, including remuneration package policy. ALSO READ Pakistan’s Economy is Seeing Growth: VP ICAP He informed the committee about the procedure adopted by the Privatization Commission for the evaluation of the assets of PSM, but did not clarify the factor that had led to losses. The Joint Secretary of the Ministry…
Service Fabrics is Renaming to G3 Technologies Limited
In an extraordinary general meeting on 29 May, the shareholders of Service Fabric Limited approved a change of the name of the company according to a notification that it submitted to the Pakistan Stock Exchange (PSX) on Monday. Service Fabrics Limited has been renamed ‘G3 Technologies Limited’, subject to the approval of the Securities and Exchange Commission of Pakistan (SECP) or the Registrar of the Companies. The original company had reportedly ceased operations in 2004, and is now back with a changed line of business. The principle business of the Company was manufacturing and selling of fabrics but from 2004…
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