A two-member delegation of Meta called on Minister of State for IT and Telecommunication Shaza Fatima Khawaja in her office on Thursday. Meta delegation comprised Dania Mukhtar, Head of Public Policy for Pakistan at Meta, and Taabeer Ather, Manager Public Policy for Pakistan. The meeting discussed in detail the responsible use of social media platforms. The delegation briefed the minister about Meta’s working and different campaigns in Pakistan including the Digital Safety Campaign, Election Education Campaign, Anti-Scams Campaign, and Digital Literacy Program. Khawaja ..read more

The Asian Development Bank (ADB) has warned that climate change is expected to increase the frequency and magnitude of floods and other extreme weather events in the future, and the government of Pakistan needs to be prepared in advance to mitigate the damage. The Bank in its latest report “Applying Spatial Analysis to Assess Crop Damage a Case Study of Pakistan 2022 Floods”, stated that Pakistan is highly flood-prone and faces a growing risk of water-related disasters due to predicted impacts of climate change. It is important to plan how to use real-time crop damage assessments such as spati ..read more

Three years on, the enduring collaboration between Jazz, Pakistan’s leading digital operator, and The Citizens Foundation (TCF), one of the largest privately-owned networks of affordable formal schools in the nation, continues to nurture the aspirations of thousands of young students, over half of them being girls, to pursue careers in various fields of ICT (Information Communications Technology). Through the multifaceted Digital Learning Program (DLP), this partnership strives to equip students with essential digital skills from an early age, empowering them to become integral contributors to ..read more

The Competition Commission of Pakistan (CCP) has warned that some businesses and individuals are making false and misleading offers of easy money and earning quick returns in their advertisements about multi-level marketing (MLM)/ pyramid schemes with several levels of compensation. How do pyramid schemes work? CCP said that applicants are required to pay money upfront to enroll. Participants in the scheme may make money from enrolment fees paid by the new recruits enrolled by them and the sale of products. The commission is paid on the sale of the products as well as  ..read more

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $74 million on a weekly basis according to data issued by the central bank on Thursday. On April 19, the foreign currency reserves held by the SBP were recorded at $7.981 billion, down $74 million compared to $8.055 billion on April 12. In a statement, the central bank said the decrease in reserves was due to external debt repayments. Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13.281 billion, down $93 million over the previou ..read more

The International Air Transport Association (IATA) Thursday called on Pakistan to immediately release airline revenues that are being held in contravention of international agreements. In a statement, IATA said the situation has become severe with airlines unable to repatriate over $720 million ($399 million in Pakistan and $323 million in Bangladesh) of revenues earned in these markets. “The timely repatriation of revenues to their home countries is critical for payment of dollar denominated expenses such as lease agreements, spare parts, overflight fees, and fuel. Delaying repatriation contr ..read more

Federal Minister for Finance and Revenue Muhammad Aurangzeb held a meeting with Keith Svendsen, CEO of APM Terminals accompanied by Ambassador Jakob Linulf, along with representative from APM Terminals, at Finance Division, today. The minister commenced the discussion by expressing gratitude to the Danish Government for its commitment, notably in the form of the grant for flood-affected communities in 2022 and the $3.8 million grant pledged during the Geneva pledges. He emphasized the need to capitalize on this momentum to further enhance economic ties between the two nations. He further appri ..read more

In a strategic move, Pakistan has made four significant changes to its starting line-up for the fourth T20I against New Zealand. The team management has opted to bring in Mohammad Amir, Imad Wasim, Fakhar Zaman, Usama Mir and Zaman Khan, signalling a shift in their game plan. The decision to include experienced players like Amir and Imad aims to bolster Pakistan’s bowling attack and provide stability to the middle order. Fakhar Zaman’s inclusion adds firepower to the batting lineup, while Zaman Khan’s presence brings versatility to the team. Conversely, Shaheen Shah Afridi, Naseem Shah, Abrar ..read more

In the wake of ongoing turbulence between the two presidential bodies of Pakistan’s hockey federation, the International Hockey Federation (FIH) has taken a decisive step by addressing the Pakistan Hockey Federation (PHF) directly through a letter. The FIH has asked for clarity about the real representatives of the PHF and who is the actual head of the federation while highlighting the issue of parallel bodies within the Pakistan Hockey Federation. In the current setup of the two parallel bodies, Tariq Bugti is leading one PHF federation while Shehla Raza is heading the other one. Pakistan’s p ..read more

Engro Corporation Limited (ENGRO) announced its financial results for Q1 2024, posting a consolidated net profit of Rs. 5.719 billion compared to Rs. 4.647 billion in 1QCY23, up by 23 percent YoY. Higher profitability on account of higher fertilizer sales, improved margins, efficient plant operations, higher earnings from dollar-denominated businesses, and efficiencies derived through cost optimization. Alongside the result, the company announced an interim cash dividend of Rs. 11.00/share in 1QCY24. On the fertilizer business front, EFERT’s earnings settled at Rs. 10.78 billion, surging by 2x ..read more