Tech and Telecom

Senator Salim Mandviwalla has been elected as Chairman of Senate Standing Committee on Finance and Revenue despite protests by other senators. Many senators complained that they weren’t informed about the committee meeting, while a few walked out of the session in protest. The Senate in May passed a motion to elect the Senate Finance Committee, comprising members as per the proposed list. The motion at the time, moved by Federal Minister for Parliamentary Affairs Azam Nazeer Tarar, also authorized the Chairman of the Senate to make changes to the composition of the committee as he deems fit. The post Saleem…

Do-or-die game for Pakistan beckons as Canada comes calling in the third match of the T20I World Cup at the Nassau County Cricket Stadium, failure to win today will mean that Pakistan will be knocked out of the World Cup once and for all. Canada, meanwhile, finds themselves in the somewhat unusual position of looking down the table at their more fancied opponents. Saad Bin Zafar’s side recently defeated Ireland in a shocking upset by 12 runs. After criticism of Babar and Rizwan’s lethargic pacing in pursuit of a low score against India, expect both to try to come out all guns…

According to a recent report, Samsung’s forthcoming Galaxy S24 FE is set to feature the identical primary camera as its predecessors, the Galaxy S24, S23, and S23 FE. The camera will boast a resolution of 50MP and a sensor size of 1/1.57″ with 1.0μm pixels. While this news aligns with Samsung’s trend of reusing components across its lineup, it puts to rest any expectations for a new or upgraded main camera on the Galaxy S24 FE. As for its release, the Galaxy S24 FE is currently in the development stage and is not expected to launch any earlier than late…

Minister of State for IT and Telecom, Shaza Fatima Khawaja, has formed a dedicated committee for fast-tracking the digitization of Islamabad. This committee will outline strategies and set the direction for the city’s digital transformation. The new committee will review the efforts of a previously established committee focused on enhancing broadband connectivity in Islamabad. Additionally, it will evaluate the provision of high-speed internet to public health units and educational institutions by the earlier committee. Shaza Fatima Khawaja will chair the committee. Other members include the Secretary of IT and Telecom, the Secretary of Health, the Secretary of Education and Professional…

The central bank of Pakistan in yesterday’s decision announced the rate cut of 150 basis points, taking the policy rate down to 20.5 percent w.e.f. June 11, 2024. The market was already expecting a rate cut as the benchmark lending rate of 6M KIBOR was trading at 20.68 percent as of June 10, 2024, 132 bps lower than the policy rate. However, the 6-month KIBOR is further down today by 56 basis points and is currently trading at 20.12 percent as of 11:25 am, according to Bloomberg. Similarly, the 6M T-bill is currently trading ~68bps lower than last day’s closing…

The Federal Board of Revenue (FBR) has set an ambitious tax revenue target of Rs. 12.9 trillion for FY2024-25, Rs. 3.72 trillion higher than the current fiscal year. Sources told ProPakistani that FBR has proposed a higher cap on income tax, capital value tax, sales tax on goods and services, and Federal Excise Duty (FED). The target for Inland Revenue has been proposed at Rs. 11.37 trillion which includes Rs. 1.31 trillion in sales tax, bringing the total expected revenue from this category to Rs. 3.6 trillion. FBR has proposed Rs. 1.59 trillion in customs duty, Rs. 267 billion higher…

In 2017, WhatsApp introduced the Status feature, enabling users to share text, emojis, photos, and more with their contacts for 24 hours. However, the visibility wasn’t necessarily for all contacts – the Status Privacy setting gave users the flexibility to choose if their status updates would be visible to all contacts, only certain contacts, or everyone except certain contacts. Fast forward to last month, WhatsApp beta for iOS 24.10.10.75 incorporated a small popup that simplified the Status Update Privacy setting before posting a new update. Now the WhatsApp beta for Android (version 2.24.12.27) is testing the same feature, meaning it…

Babar Azam’s Men in Green will take on T20 World Cup debutants Canada at the Nassau County Cricket Stadium in their third match of the 2024 T20 World Cup campaign in their Group A tie. Pakistan lost to the co-hosts USA in the Super Over at the Grand Prairie Stadium in Dallas while Canada defeated Ireland by 12 runs in New York. The defeat was followed by a heart-wrenching loss against India by 6 runs in New York where Pakistan failed to chase down a total of 120 runs. Mohammad Rizwan and skipper Babar Azam are both expected to open…

The National Institute of Health (NIH) has issued an advisory concerning Primary Amoebic Meningoencephalitis (PAM), also known as Naegleriasis or brain-eating amoeba, a serious infectious disease affecting the central nervous system. Since 2008, deaths related to PAM have been reported in some Karachi hospitals during the summer months. The advisory highlights that high temperatures combined with poorly chlorinated water during early summer increase the risk of Naegleria fowleri infection. The advisory aims to alert public health authorities, water and sanitation agencies, and other relevant stakeholders to take necessary actions to prevent and control PAM, particularly in areas with annual cases.…

The State Bank of Pakistan (SBP) has issued instructions to banks to develop and implement digital solutions for supply chain finance within six months to leverage the technology for increasing SMEs’ access to finance as well as digitizing retail payments. The circular issued by SBP requires banks to establish effective Supply Chain Finance (SCF) functions having suitably trained HR and systems to develop and offer digital SCF products to SMEs. The banks have been further advised to either develop their own digital solutions for SCF or partner with any Fintech, Service Providers for providing digital SCF. The DSCF solutions will…