Two of Lahore’s prestigious educational institutions, the National College of Arts (NCA) and the Pakistan Institute of Fashion and Design (PIFD), are set to open campuses in Karachi soon. This announcement was made by Muttahida Qaumi Movement-Pakistan chairman and Federal Minister for Education and Professional Training, Dr. Khalid Maqbool Siddiqui, during a press conference on Saturday. Dr. Siddiqui was joined by the vice-chancellors of NCA and PIFD, the chairman of the Higher Education Commission (HEC), and other senior officials. He stated that the new campuses would provide “employable skill-based short courses” to the youth of Sindh. Emphasizing the nationwide reach…
Category: Tech and Telecom
Govt Has No Money so Equity Swaps only Option to Settle Pending Dues: PSO
Pakistan State Oil (PSO) has proposed equity swaps to settle its receivables balance with the federal government. The federal government doesn’t have cash and the only viable option to settle the circular debt balance amount is to swap receivables of PSO with government assets, the stat-run enterprise said in its corporate briefing session today. Timely LNG receivables amid rising consumer gas prices are expected to enhance PSO’s liquidity. PSO’s total receivables amount to Rs. 810 billion, including Rs. 500 billion from SNGPL, Rs. 150 billion from GENCO, and Rs. 27 billion from HUBCO and PIA. PSO management anticipates a modest…
Finance Minister Assures Business Leaders Their Proposals Will Be Considered in Budget 2024-25
A delegation of Pakistan Business Council (PBC) led by Chairman PBC Shabbir Diwan called on Federal Minister for Finance and Revenue Muhammad Aurangzeb at the Finance Division today. Federal Minister Muhammad Aurangzeb acknowledged and thanked the PBC for their insights. He assured that their recommendations are being noted and will be considered in the finalization of the budget to whatever extent possible. The delegation from the Pakistan Business Council (PBC) appreciated the ongoing efforts of the government and discussed the Federal Budget 2024-25 with the Finance Minister. They also presented specific suggestions and tax proposals for consideration. The Minister also…
RDA Continues Sealing Illegal Commercial Properties in Rawalpindi
Under the directives of Director General (DG) Kinza Murtaza, the Rawalpindi Development Authority (RDA) has sealed 11 commercial buildings on Caltex Road in the Morgah area. According to an RDA spokesman, the RDA Enforcement Squad carried out an operation against unauthorized commercial buildings, sealing 11 properties. These included seven shops, two warehouses, and two restaurants. The operation involved the Assistant Director of Building Control, Building Inspectors, and other officials. The RDA Enforcement team acted following the law, targeting property owners Ch. Akram, Osama, Nouman, Saeed, Nasir Kiyani, Naeem, Ajmal, Muhammad Razzaq, Zahoor Hashmi, Dr. Waheed, and Mirza Shamim Baig for…
Alert Issued in Punjab With Heavy Rainfall Expected Next Month
Punjab authorities are on high alert following weather projections from the National Emergencies Operation Centre (NEOC) forecasting “moderate to very heavy rain” during this year’s monsoon season. The Provincial Disaster Management Authority (PDMA) Punjab, acting on directives from Chief Minister Maryam Nawaz, issued an advisory to all departments. The monsoon rains are expected to begin in July. Rainfall between 15mm and 55mm is anticipated in the Rawalpindi, Lahore, Sargodha, Faisalabad, and Gujranwala Divisions during the first week of July. Multan, DG Khan, and Bahawalpur Divisions are expected to experience lighter rains. Monsoon activity will be more intense in Rawalpindi, Gujranwala,…
Reducing Pakistani Cricketer’s Salaries Won’t Lead To Success, Says Ramiz Raja
Former Pakistan captain turned commentator Ramiz Raja believes that the potential demotion of Pakistan skipper Babar Azam and wicketkeeper-batter Mohammad Rizwan from their central contract category is just a knee-jerk reaction by the Pakistan Cricket Board (PCB) following Pakistan’s early exit from the T20 World Cup 2024. According to reports both Babar Azam and Mohammad Rizwan may lose their Category A status with the (PCB). The rumors stem from Pakistan’s disappointing performances in the tournament, particularly the unexpected defeats to the USA and India. Despite securing victories over Canada and Ireland, these wins were insufficient to advance Pakistan to the…
Salam Air Reveals Launch Date of Flights Between Oman and Another Pakistani City
Salam Air, the national low-cost carrier of Oman, has announced the commencement of a new flight route between Muscat and Lahore, set to begin on July 9, 2024. According to 24NewsHD TV Channel, this new service will provide greater connectivity between the two cities, with flights operating thrice weekly. The airline’s schedule outlines that flights from Muscat to Lahore will be available on Tuesdays, Wednesdays, and Saturdays. The return flights from Lahore to Muscat are scheduled for Wednesdays, Fridays, and Sundays. This consistent schedule is designed to cater to business and leisure travelers, providing flexible options for those traveling between…
Karachi Residents to Pay Municipal Utility Charges and Taxes With Electric Bills
Karachi residents face another financial burden as municipal utility charges and taxes are now included in their monthly K-Electric bills. In a recent city council meeting, Mayor Karachi Murtaza Wahab announced the passage of a resolution to collect these charges through electricity bills. The resolution aims to ensure fair collection and utilization of funds for the city’s welfare and development. Mayor Wahab assured residents that those using 100 units of electricity or less will be exempt from this tax. He emphasized the importance of transparency in how the revenue is allocated and spent. Mayor Wahab also committed to overseeing all…
PSX Prohibits Brokers From Making Cash Withdrawals From Clients’ Bank Accounts
The Pakistan Stock Exchange (PSX) has prohibited securities brokers from making cash withdrawals from client-titled bank accounts to ensure that all payments to customers will be made through banking channels, the main bourse informed investors. The main bourse has amended the relevant clauses of PSX Regulations with the approval of the Securities and Exchange Commission of Pakistan with an aim to strengthen investor protection measures. As per PSX Regulation 3.7.1A, PSX shall inform the SECP and the relevant banks of the TRE Certificate Holder regarding suspension, cancellation, or forfeiture of the TRE Certificate of such TRE Certificate Holder. Further, in…
Govt to Set Up Project Management Unit For Hiring New Talent For SIFC
The federal government has decided to establish a Project Management Unit (PMU) to hire the best talent to enhance SIFC’s institutional strength. Sources told ProPakistani that the Prime Minister in a recent meeting approved the establishment of PMU for speedy hiring of fresh, qualified HR, on market competitive salaries, to attract the best talent for enhancing SIFC’s institutional strength. In addition, the Prime Minister (PM) also approved to constitute ‘SIFC division’ owing to its expending scope and mandate. The SIFC officials appraised PM about the ongoing operations, scope, and outlook. It was stated that SIFC was established in June 2023…
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