In a pioneering move for the nation, the Pakistan Bureau of Statistics (PBS) has unveiled plans for the inaugural Data Fest-2024, a three-day event set to take place at the Pak-China Friendship Centre in Islamabad from October 18 to 20, 2024. This groundbreaking festival aims to promote statistical literacy and highlight the vital role data […]
In a significant development in global climate financing, the World Bank announced on Thursday that it delivered a record $42.6 billion in climate change financing for the last financial year, reflecting a 10% increase from the previous year. This achievement underscores the bank’s ongoing commitment to addressing climate challenges and facilitating sustainable development under the […]
In a recent address in Islamabad, the Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal, expressed an optimistic vision for Balochistan, predicting that it could become the most prosperous province in Pakistan within the next 15 to 20 years. This ambitious outlook is rooted in the province’s vast potential and ongoing development initiatives, […]
In a significant display of diplomatic ties, Pakistan reaffirmed its commitment to working alongside China for mutual prosperity and the promotion of global peace and stability. This commitment was notably articulated by Prime Minister Shehbaz Sharif during a National Day Reception hosted by the Chinese Embassy in Islamabad, celebrating the 75th anniversary of the founding […]
Oil prices experienced minimal fluctuations on Thursday, reflecting a complex interplay of economic signals and geopolitical developments. Brent crude futures for November climbed slightly, gaining 8 cents to reach $73.73 a barrel. Conversely, West Texas Intermediate (WTI) crude for October fell by 3 cents, settling at $70.88 a barrel. This stability comes as market participants […]
Pakistan has taken a monumental leap forward with the operationalization of the PAKSAT-MM1 satellite. Unveiled during the ‘PAKSAT-MM1 Satellite Application Conference,’ this landmark development marks a significant shift in the country’s digital infrastructure and space capabilities. Minister of State for Information Technology and Telecommunication, Shaza Fatima Khawaja, underscored the satellite’s critical role in revolutionizing Pakistan’s […]
Pakistan’s economy received a significant boost in the first two months of FY25 as total foreign investment surged by 80%, reaching $453.2 million compared to $252 million during the same period in FY24. This increase highlights a growing confidence among foreign investors, despite the challenging global economic climate and Pakistan’s ongoing financial difficulties. Foreign Direct […]
In a rare break for the masses, Pakistan has witnessed a significant reduction in retail petroleum prices, marking the fourth consecutive fortnight of falling rates. Motor gasoline prices have plummeted to their lowest in 21 months, providing much-needed relief from the inflationary storm that has gripped the country for the past two and a half […]
In a significant move towards enforcing fair competition in Pakistan’s procurement processes, the Competition Commission of Pakistan (CCP) has issued show-cause notices to ten steel structure suppliers. These suppliers are implicated in alleged collusive bidding practices related to tenders floated by various power distribution companies (Discos). This inquiry, conducted under the auspices of the Competition […]
In a significant financial commitment, the Asian Development Bank (ADB) has pledged $2 billion annually in loans to Pakistan from 2024 to 2027, totaling $8 billion over four years. This announcement comes as a relief to Pakistan, which has been grappling with economic challenges, high-interest loans, and deteriorating credit ratings. ADB President Masatsugu Asakawa made […]
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