Rupee Barely Manages to Stop Loss Against the US Dollar

The Pakistani Rupee (PKR) posted a negligible improvement against the US Dollar (USD) in the interbank currency market today. It improved by one paisa over yesterday’s exchange rate, closing at Rs. 161.88 to the USD today (29 July) as compared to Rs. 161.89 on Wednesday (28 July). ALSO READ Trend Continues as Rupee Dips Big Against All Currencies Again During the day, the PKR traded between Rs. 160.9 and Rs. 162.25 before closing at Rs. 161.88 against the greenback. This week’s journey for the PKR included a substantial improvement of Rs. 1.09 on Monday, deterioration of 10 paisas on Tuesday,…

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Senate Committee Directs Telcos To Improve Quality Of Services

The Senate Standing Committee on Information Technology and Telecommunication on Thursday observed that if Parliamentarians do not have access to mobile phone service inside Parliament and Parliament Lodges, then what facility is being provided to the public, and directed the Chief Executive Officers (CEOs) of cellular companies for briefings in next meeting. The committee, which met with Kauda Babar in the chair, also sought a briefing on the initial agreement with Etisalat and the cybersecurity policy. The Standing committee also decided to take in-camera briefing on strategic issues from the Ministry of IT, Special Communication Organization (SCO), and Pakistan Telecommunication…

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PM Imran Khan Fires Senior FBR Official For Illegally Approving Rs. 58 Million Income Tax Refunds

Prime Minister Imran Khan has dismissed from services a senior Inland Revenue official (Grade-20) of the Federal Board of Revenue (FBR) for illegally approving income tax refunds of Rs. 58,606,508 to a company without fulfilment of laid down rules and regulations. In this regard, the FBR has issued a notification ((Dismissal from Service) here on Thursday against the Director (Enforcement), FBR (HQ), Islamabad. Under the notification, the disciplinary proceedings were initiated against Director (Enforcement), FBR (HQ), Islamabad under Government Servants (Efficiency & Discipline) Rules, 1973, on account of “Inefficiency”, “Misconduct” and “Corruption”. ALSO READ Pakistan Raises $350 Million In Murabahah…

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WATCH: Throwback To When President Alvi Offered Wrong Eid Prayers & Others Followed Him

President Dr. Arif Alvi offered the Eid-ul-Adha prayers at Faisal Mosque with complete observance of coronavirus standard operating procedures (SOPs). However, the live broadcast of him offering namaz caught something very unusual.   Qasim Suri, Deputy Speaker of the National Assembly, and other lawmakers also offered prayers at the mosque. In today’s world, people are observant […]

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‘New’ 6th Generation Honda City Officially Launched in Pakistan

The subcompact sedan segment of Pakistan has just become slightly more competitive as Honda Atlas Cars Limited (HACL) has officially launched the 6th generation City in Pakistan. Like several other vehicle launches that came before, the new City’s was also a digital launch, hosted by Aamir H. Shirazi, President of Atlas group, Hironobu Yoshimura, CEO of Honda HACL, 2.Aamir Nazir, General Manager Sales and Marketing, who told the viewers about the various aspects of the vehicle and also apprised the people about the company’s accomplishments over the years. Although the current City is not the “latest and greatest” product in…

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President Alvi Ready With His ‘Boat’ During Floods in Islamabad [Reactions]

Although the authorities in Islamabad have successfully cleared all highways and streets from rainwater on the back of a massive Monsoon downpour on Wednesday morning, President Arif Alvi has refused to sit idle and instead wants to help as well. Making the announcement on Twitter, President Alvi fashionably remarked his love for Islamabad, comparing its beauty with other “lovely cities of Pakistan”. He even posted a picture of himself rowing a boat in Karachi in 2017 Islamabad is my city just like Karachi and all other lovely cities of Pakistan. I am confident that Islamabad’s administration are doing their job…

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Commerce Advisor Holds Virtual Meeting With UK’s Deputy High Commissioner

Advisor to the Prime Minister on Commerce & Investment, Abdul Razak Dawood, along with senior officers from the Ministry of Commerce, held a virtual meeting with UK’s Deputy High Commissioner in Karachi and Trade Director for Pakistan, Mike Nithavrianakis, on July 29, 2021 (today). During the meeting, matters pertaining to bilateral trade and investment came under discussion. The Advisor to the Prime Minister on Commerce & Investment appreciated the enhanced bilateral trade between Pakistan and the UK and spoke about ways to further enhance and diversify trade and investment opportunities between the two countries. Post-Brexit UK has granted enhanced market…

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Nestlé Pakistan’s Profit Grows by 49% in First 6 Months of 2021

Despite the challenges of the pandemic, Nestle’ Pakistan made a handsome profit of Rs. 5.87 billion during the first half of 2021, which is 49 percent higher than the profit reported in the same period last year. The volume growth, overheads control, and value chain cost optimization initiatives led to a 24.3 percent increase in the company’s operating profit as compared to the same period of the previous year. Additionally, the reduction in the financing costs contributed to an improvement in the net profit. ALSO READ KP Launches a New Project for Waste-Free Tourism Despite all the challenges of the…

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