In October last year, top European, American and Chinese banks submitted bids for being hired as financial advisers to float the sovereign bonds. Another factor that delayed the Eurobond transaction last year was the SBP’s preference for hot foreign money. In order to attract the hot foreign money, the SBP set the interest rate high at 13.25% till March 17. The process of outbound flight of the hot foreign money has not yet stopped. In this fiscal year, Pakistan received only $54.8 million hot foreign money but the withdrawal stood at $139 million, according to the SBP.
September 20, 2020 05:26 UTC
ISLAMABAD: Balochistan diagnosed 67 cases of Covid-19 during random testing at various educational institutions in the province, said the provincial health department on Saturday. According to details, the Balochistan health department tested randomly from September 07 to 18, diagnosed coronavirus cases in scores of schools. The ratio of positive cases has been 14.3 percent, the health department said. According to the health department, 164 students were tested for Covid-19, out of whom 24 turned out to be positive. These educational institutions were sealed after detection of Covid-19 positive cases, it said.
September 19, 2020 16:18 UTC
ISLAMABAD: China-Pakistan Economic Corridor (CPEC) Authority Chairman Lieutenant General (r) Asim Saleem Bajwa has said that Orange Line Metro Train project will be launched soon. In a tweet on Saturday, Lt Gen (r) Bajwa said that teething issues of the project have been resolved and fare has also been decided. He said that trial runs of the train are underway while the hiring process for the project is in progress. Earlier on September 1, Asim Saleem Bajwa announced more than 250 jobs of various categories for Lahore’s Orange Line Train project. “250 new jobs of various categories for Orange Train Lahore by the operator.
September 19, 2020 16:18 UTC
LAHORE: The Lahore Development Authority (LDA) has shortlisted three consortiums that meet the eligibility criteria for the preparation of the new Master Plan for Lahore Division – 2050 (MPLD-2050), Pakistan Today learnt on Saturday. An official of LDA informed this scribe that seven consortiums had submitted expressions of interest for the preparation of the Lahore Master Plan. After the amendment in LDA Act 1975, notified in 2013, planning jurisdiction of LDA was extended up to Lahore Division. Therefore, LDA has been assigned the task to prepare the ‘Master Plan for Lahore Division – 2050 (MPLD-2050)’. He said the new master plan will be prepared for all urban and rural areas within the limits of Lahore division.
September 19, 2020 16:17 UTC
HYDERABAD: The Sindh Education Minister Saeed Ghani has expressed satisfaction over adherence to the standard operating procedures (SOPs) being adopted by the educational institutions which have been reopened in the first phase. Ghani warned that if the virus cases began to increase again, the educational institutions as well as the other sectors would have to be closed again. He said as per the decision of the National Coordination Committee (NCOC) the educational institutions were supposed to be reopened in 3 phases. “However, the Sindh government has postponed the second phase to September 28 in view of the prevailing situation,” he told elaborating that the second phase had been deferred because new virus cases had surfaced from the educational institutions. Ghani also chaired a meeting which was attended by Commissioner Hyderabad division Muhammad Abbas Baloch, Deputy Commissioner Fuad Ghaffar Soomro and officials of the Education Department.
September 19, 2020 15:56 UTC
Contingent of the Pakistan armed forces participated in the opening ceremony of multinational military exercises titled ‘Kavkaz 2020’ in the Russian city of Astrakhan on Saturday. SCREENGRABA contingent of the Pakistan armed forces participated in the opening ceremony of multinational military exercises titled ‘Kavkaz 2020’ in the Russian city of Astrakhan on Saturday, the Inter-Services Public Relations (ISPR) said. Contingent of Pakistan Armed Forces participates in opening ceremony of multinational military exercise Kavkaz 2020 at Astrakhan, Russia@OfficialDGISPR https://t.co/BIfW7wJobt pic.twitter.com/VWgmUAlYN1 — Radio Pakistan (@RadioPakistan) September 19, 2020More than 80,000 personnel are expected to participate in the strategic command exercises this year. Pakistan had also participated in the similar series of exercises called 'Tsentr 2019', in Russia last year. Other countries in the region were also invited to participate in the Kavkaz 2020.
September 19, 2020 15:33 UTC
KARACHI: Iranian Consul General, Reza Nazeri, has stressed the need for strengthening trade ties between two neighboring countries, saying Iran is ready for barter trade with Pakistan, including the export of petrochemicals, steel and LPG to Pakistan in exchange for rice, meat and other agriculture products from Pakistan. During an address made at the second meeting of the FPCCI Pak-Iran Business Council held here at its regional office, the Iranian Consul General said that Iranian Consulate of Lahore is ready to facilitate Pakistan’s private sector to promote bilateral trade and investment. Vice President FPCCI, Dr. Mohammad Reza Karbasi, Director General of ICCIA & ICCIMA, Ali Asghar, Commercial Counselor, Najam-ul- Hassan, Chairman FPCCI Pak-Iran Business Council and Syed Ali Raza Rizvi, Senior Vice Chairman FPCCI Pak-Iran Business also spoke on the occasion. Earlier, addressing the meeting FPCCI President Mian Anjum Nisar welcomed the FPCCI’s Pak-Iran Business Council’s second meeting. FPCCI President said that Iran and Pakistan are member of emerging SCO and ECO blocks.
September 19, 2020 13:52 UTC
Information Minister Shibli Faraz has fired broadside at the opposition parties over their APC that will convene tomorrow against the government, saying “a bunch of losers will meet tomorrow to offer each other shoulder to cry on”. Senior PML-N leader Senator Pervaiz Rashid told The Express Tribune that Sharif had accepted Bilawal’s invitation for attending the APC via video link. He further stated Maryam Nawaz, Sharif’s daughter, would also be part of the PML-N delegation for the APC. Recently, it was reported that Maryam would not become part of the PML-N delegation. “Every positive development in the country is the bad news for opposition… they want economy and country to collapse,” Shibli maintained.
September 19, 2020 13:52 UTC
KARACHI: The Pakistan International Airlines (PIA) chief executive officer (CEO) on Saturday took notice of public complaints regarding the overcharging of fares on tickets for flights to Saudi Arabia. The PIA administration received complaints of passengers being overcharged by some elements on air tickets for Saudi Arabia. It added that travels agents were not allowed to charge their commission on PIA tickets above Rs4,000 to Rs5,000. He said that the national carrier had sought permission from Saudi Arabia for operation 28 more flights in order to facilitate passengers. It is noteworthy that Saudi Arabia had decided to lift travel restriction in the kingdom from January 1 2021.
September 19, 2020 12:56 UTC
Sony’s next-generation PlayStation 5 console and Microsoft Xbox Series X are scheduled to be released in November 2020. However, there is still a wide variety of games that you can play with the old platforms, here is a list of the ten most anticipated games of the year 2020:CYBERPUNK 2077So which gang is the city's biggest and baddest?#Cyberpunk2077 pic.twitter.com/5W1RKIKxhT — Cyberpunk 2077 (@CyberpunkGame) September 18, 2020Cyberpunk 2077 is perhaps the most hyped upcoming game. Facebook officially launches Avatars in PakistanIn the game, players explore a mysterious island and attempt to find and capture the eponymous half-bug-half-snack creatures. The game is scheduled for release for Microsoft Windows, PlayStation 4, and Xbox One on October 2, 2020. The game is scheduled to release on PlayStation 5, PlayStation 4, Xbox Series X, Xbox One, and PC on October 29.
September 19, 2020 11:37 UTC
An unchecked governance deficit and institutional deterioration in the education sector, especially higher education, are among two of the biggest domestic challenges currently. The session was chaired by IPS Executive President Khalid Rahman. Contemplating the prevailing deficiencies in the country’s education system, University of Haripur Vice-Chancellor (VC) Dr Anis Ahmad pointed out that a good education system should be aimed at instilling confidence and creativity in students whilst shaping their character. International Islamic University Islamabad (IIUI) Anthropology Department Chair Dr Noreen Saher stated that curriculum designing revolves around three important features; information, skills and attitude-building. In Pakistan, however, she said the focus was primarily on the informational aspect, ignoring skills and attitude-building almost in its entirety.
September 19, 2020 06:11 UTC
I am of the view that it is not social distancing, but actually physical distancing from people around us that we require — in markets, public gatherings and other places. Coming back to Covid-19, like other countries, Pakistan also imposed a lockdown and issued guidelines regarding the implementation of physical distancing. By following physical distancing permanently, women can be protected from harassment. I believe other than the above mentioned benefits, people must have observed some other benefits of physical distancing too. As everyone is talking about a new normal, it is an appropriate time to implement physical distancing — a real and permanent new normal for our society.
September 19, 2020 04:47 UTC
These proposals come in the wake of power sector regulator’s move that is going to decide the fate of K-Electric as the sole electricity provider in Karachi. For the benefit of general public, he said, focus must be on the T&D sector. At present, a lack of policy incentives to attract private sector investment, regulatory uncertainty and inconsistency have marred T&D business. “Despite significant capacity additions, around one-fourth of the country’s population lacks access to grid electricity due to bottlenecks in the T&D sector,” he said. With the pressing challenges faced by the T&D segment, he said, it was worrying how proposed reforms would impact the already fragile power sector in Pakistan.
September 19, 2020 03:56 UTC
Businessmen have urged the government to apply for geographical indication (GI) tag with the European Union for Pakistani basmati rice immediately citing that India has applied for the same. India has applied for GI tag in European Union for basmati rice, confirmed a report in the EU official journal. "Pakistan exports 500,000 to 700,000 tonnes of basmati rice to various countries," said Cereal Association of Pakistan Chairman Muzammil Chappal. "The EU market has vast opportunities and the basmati rice exporters cannot afford to lose it," he said. "Pakistani basmati rice is superior to Indian basmati."
September 19, 2020 03:45 UTC
This decision may have bearing on Justice Isa’s future as a Supreme Court judge in line to become the chief justice of Pakistan. The judge’s wife has accused the FBR as well as the incumbent federal government of mala fide and announced she will challenge the FBR decision at a higher forum. Under the Supreme Court June 19 split order, Sarina may use all legal options against the FBR order. income tax is not payable on a certain percentage of amount from the rent. This property was later sold that office at a profit, and Sarina questioned whether the FBR had taken this into account.
September 18, 2020 19:52 UTC