Tech and Telecom

The price of gold in Pakistan fell by Rs. 500 per tola on Tuesday, erasing the previous day’s gains. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) fell by Rs. 500 per tola to Rs. 241,500, while the price of 10 grams went down by 429 to Rs. 207,047. Yesterday, the price of gold in the local market had risen by Rs. 500 per tola. The Sarafa Association said that the price of gold has been kept under cost by Rs. 1,500 due to the reduction in purchasing power of the buyers. In…

The Punjab government has decided to install CCTV (Closed-Circuit Television) cameras in the rooms of all investigation officers across the province, according to sources from the Interior Ministry on Monday. The monitoring of each investigation room will also be ensured, the sources confirmed. This decision is part of ongoing police reforms being considered by the chief minister’s office to enhance the capacity of officials in the investigation system and to improve investigation methods. The primary reason for installing CCTV cameras is to counter the habitual trend of torture of suspects under investigation and to ensure a proper and scientific approach…

In the audio leaks petition hearing at the Islamabad High Court, Justice Babar Sattar signaled the possibility of issuing a contempt of court notice against the Chairman of the Pakistan Telecommunication Authority (PTA) and its Board members. This move comes amid ongoing hearings of petitions filed by Najam-ul-Saqib and Bushra Bibi regarding unauthorized audio leaks. Justice Sattar pointed out the absence of any legal framework authorizing phone tapping, deeming the current practices illegal without a proper mechanism. He emphasized that telecom companies if found providing citizens’ data without appropriate scrutiny, share equal responsibility. The PTA, in its defense, asserted that…

Punjab Chief Minister Maryam Nawaz has ordered the launch of 65 services under the “Maryam Ki Dastak” initiative across all districts by December 2024. During a meeting to review the “Maryam Ki Dastak” mobile application’s services, she called for enhancements and approved the service expansion. Specifically, she directed that the number of services in Lahore should increase to 40 and then to 65 by August 2024. The PITB chairman briefed the chief minister on the program’s expansion plan, stating that from August 14, “Maryam Ki Dastak” services will be available in every division. Services offered will include police, revenue, municipalities,…

The Central Depository Company of Pakistan Limited (CDC) has completely eliminated Annual Maintenance Fee for the Sub-Account Holders, as well as announced a full waiver of the CDS connection fee and minimum fees for Securities Brokers. However, in order to make the transaction fee equitable, the Intra account movement transaction fee has been introduced.  The revised tariffs reflect CDC’s commitment to enhancing market accessibility and cost reduction for all capital market stakeholders. CDC has announced the additional reduction and rationalization in tariffs, effective July 1, 2024.  In alignment with the Securities and Exchange Commission of Pakistan’s (SECP) vision for investor…

The Met Office has informed that monsoon currents from the Arabian Sea and the Bay of Bengal are likely to enter eastern parts of the country from June 26th. Additionally, a low-pressure system is present south of Indian Gujarat. Under the influence of this weather system: Sindh Rain, wind, and thundershowers with isolated heavy rainfall are expected in Mithi, Umarkot, Mirpur Khas, Sanghar, Tando Allahyar, Badin, Thatta, Karachi, Hyderabad, Jamshoro, Shaheed Benazirabad, Naushero Feroze, Khairpur, Dadu, Sukkur, Jacobabad, Kashmore, and Larkana from June 26th to July 1st, with occasional gaps. Punjab/Islamabad Rain, wind, thundershowers, and isolated heavy falls or hailstorms…

The Abu Dhabi Department of Economic Development (ADDED) has underscored that from July 1st, licensed economic establishments and social media influencers must obtain a license from the department to conduct advertising services. In response to inquiries from the Emirates News Agency (WAM), ADDED explained that the enforcement of penalties, which can amount to AED, 10,000 and may include business closure, will commence in early July alongside implementing this directive. Regarding the fees associated with obtaining the advertising services license, ADDED specified that individual establishments will incur AED1,250, while businesses will be charged AED5,000. ADDED outlined the license application process, indicating…

Naeem Khan, a 33-year-old motorcyclist, was seriously injured in an accident involving a speeding embassy vehicle, police reported Monday. The crash occurred near Radio Pakistan while Naeem was heading home to Mohalla Kundian, Bari Imam. According to the FIR, the car was owned by an embassy. Fahim Khan, the victim’s brother, filed a complaint requesting legal action against the driver. Secretariat police have registered a case under several sections of the Pakistan Penal Code. This incident follows a similar event on June 3, where a UK High Commission vehicle, driven by a third secretary, hit and injured a police constable…

State-owned enterprises (SOEs) reported an aggregate loss of Rs. 905 billion in fiscal year 2022-23, up 23 percent from last year. According to the aggregate annual report on SOEs by the Ministry of Finance released today, this resulted in aggregate net losses of Rs 202 billion,  reflecting a 25 percent increase from the previous year. Also, liabilities increased to Rs. 29,721 billion, up 20 percent indicating higher financial leverage. Consequently, net equity stood at Rs 5.49 trillion, down 2.55 percent. Overall portfolio volatility remains a significant concern for the Federal Government with Value at Risk in the higher range. The…

The Excise Department will introduce a mobile facility at Fatima Jinnah Park in the federal capital starting Monday. Part of the ICT Doorstep program, this initiative aims to make essential services more accessible to the public, as per a spokesperson from the Islamabad administration. The mobile unit will be available from 3:00 p.m. to 5:00 p.m. at the Bolan Gate parking lot in the park. The facility will simplify the process for obtaining fuel permits for domestic and commercial use, as well as motor vehicle registration. In addition to vehicle-related services such as registration, transfer, and token tax payment, the…