Tech and Telecom

The Islamabad Electric Supply Company (IESCO) has announced a two-day power suspension plan, effective Friday and Saturday, to carry out essential maintenance and routine development tasks across several areas within its jurisdiction. According to the IESCO Spokesman, the power supply to various feeders and grid stations will be temporarily halted during specified time frames to facilitate the necessary work. Friday, June 7: Time: 07:00 AM to 10:00 AM Affected Areas: Rawalpindi City Circle: Areas within the city circle will experience a temporary power outage to facilitate maintenance work. Ghousia Colony Feeder: The feeder serving Ghousia Colony will be shut down…

Pakistan Stock Exchange (PSX) will officially list Fast Cables Limited (FCL) with effect from Monday i.e. June 10, 2024. Trading in the shares of the Company will commence on the Main Board of PSX from Monday, June 10, 2024, and shall be settled on a T+2 basis. The first settlement date will be Wednesday, June 12, 2024, while the Market Lot of the Company will be 1 share of PKR 10/- each. The shares of the Company have already been declared an eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled…

Engro Fertilizers Limited (PSX: EFERT) and Fatima Fertilizer Company Limited (PSX: FATIMA) have each announced a massive decrease in DAP prices. JS Global confirmed to ProPakistani that two days after Fauji group went ahead with a substantial rate cut, both EFERT and FATIMA have also reduced DAP prices by Rs. 1,550 per bag and Rs. 1,859 per bag, respectively. New prices stand at Rs. 11,622 per bag and Rs. 11,390 per bag for EFERT and FATIMA, respectively. Meanwhile, DAP prices for FFC and FFBL stand at Rs. 11,191/bag and Rs. 11,241/bag, as reported earlier. Last month, it was informed that…

The Rawalpindi Development Authority (RDA) has taken action against Bahria Town for encroachments, illegal plotting/cutting, and circulating brochures that violate the approved layout plan (LOP) in Phase VIII of Mouza Gali. RDA also issued notices to the proprietors of two unauthorized housing schemes, Zak City situated in Mouza Harnal, Gujar Khan, and Hoon Farm House located in Mouza Adhwal Tehsil Rawalpindi, for commencing development activities and marketing without its approval. In a press release, RDA Director General Kinza Murtaza stated that notices have been issued to the owner of Bahria Town Phase VIII and two illegal housing schemes. She stated…

Canada will lock horns with Ireland at the Nassau County Cricket Stadium in their second match of the T20 World Cup campaign with both teams unable to register a point in their first match. No team has gone past 100 at this venue in four innings, with uneven bounce and prodigious movement up front bringing about plenty of criticism. Dillon Heyliger’s all-around abilities could be useful for Canada. He has been in good bowling form this year, having picked up five wickets in as many games while going at a tick over eight an over. Mark Adair has been in excellent…

The Pakistan Stock Exchange (PSX) saw a chaotic sell-off during the early trading hours today, with the benchmark KSE-100 index losing nearly 2,100 points in intraday trading amid concerning reports of new back-breaking taxes in the upcoming budget. After opening trade at 73,862.93 points, the market showcased bearish sentiments, with the KSE-100 index losing 2,081 points in the first hour of trade today. The benchmark KSE-100 index recorded an intraday high of 73,855.12. It then lost 2,081 pts to a record low of 71,781.96. At the time of filing, the KMI 30 index was down by 1,647 points at 120,922…

In a perplexing turn of events, the summer vacation schedule in Islamabad became a subject of dispute between the Federal Directorate of Education (FDE) and the Federal Ministry of Education. The confusion stemmed from a notification issued by the FDE, declaring summer vacations from June 10 to July 31. However, amidst conflicting statements, an FDE official denounced the notification as fake, while a counterpart from the Ministry of Federal Education affirmed its authenticity. The conflicting stances between the FDE and the Ministry of Federal Education left parents, students, and educational institutions in a state of uncertainty. In an attempt to…

Prime Minister Shehbaz Sharif has rejected all major budget proposals of the Federal Board of Revenue (FBR) having a direct inflationary impact on the general masses including increasing the withholding tax rate from 0.6 to 0.9 percent on cash withdrawals from banks by non-filers. Four proposals of the FBR have been rejected by the Prime Minister. These four revenue measures have an accumulative revenue impact of Rs. 150-200 billion: The increase in the WHT rate has been estimated to generate additional revenue of Rs. 20 billion in 2024-25. The taxation of pensions was also turned down by the prime minister.…

The federal government will present the federal budget (2024-25) on June 12 (Wednesday). It is now expected that Finance Minister Muhammad Aurangzeb will present the 2024-25 federal budget in Parliament on June 12, 2024, instead of June 10, 2024 reported earlier by ProPakistani. The budget will likely be presented in the Upper House (Senate) of Parliament on the same day as it is tabled in the National Assembly. The federal government has made the decision to base the upcoming fiscal year budget on an exchange rate of Rs. 295/$. The new rate reflects an increase of Rs. 10 compared to…

Pakistan suffered a shocking defeat against the hosts USA at the Grand Prairie Stadium in their first match of the T20 World Cup campaign. USA won the toss and decided to bowl first at the Grand Prairie Stadium in Dallas where they chased a target of 195 against their neighbor Canada. Skipper Babar Azam scored 44 runs off 43 balls while anchoring the innings but Shadab Khan provided a much-needed counter-attack with a blistering 40 runs off 25 balls at a strike rate of 160. Shaheen Afridi provided impetus in the match with a flurry of runs as he made…