Islamabad, Oct 15: Unpaid Bills Leave Pakistan Hockey Federation in Financial Crisis. As its financial difficulties persisted, the Pakistan Hockey Federation (PHF) reportedly resorted to diesel generators to temporarily restore energy in its headquarters. After the Punjab Sports Board cut off the federation’s electricity supply due to unpaid bills, all of the lights and fans at the National Hockey Stadium in Lahore are reportedly powered on an as-needed basis. PHF has already blamed former secretary Haider Hussain for this disaster, claiming that his poor handling of things caused debts to accumulate to an unpayable total of about 70 million PKR…
Author: Iqra Khan
Islamabad, Oct 15: Shanghai Cooperation Organization Pakistan Set to Lead Regional Cooperation and Strengthen Unity. Pakistan is geared up to host the 23rd Shanghai Cooperation Organization (SCO) Summit on October 15-16, 2024, in Islamabad. The Shanghai Cooperation Organization Summit (SCO) is an intergovernmental entity that focuses on addressing political, economic, defense, and security matters within the Eurasian region. It is primarily overseen by the Council of Heads of State (HSC) and the Council of Heads of Government (HGC). The summit is not only a platform for diplomatic engagements, but also a significant opportunity for Pakistan to enhance its socio-political and economic standing. Holding…
Islamabad, Oct 15: Kohat Cement Approves Rs. 600 Million Short-Term Financing to Boost Associated Company’s Growth. The extension of investment in Ultra Kraft (Private) Limited (UKPL), an affiliated company, through short-term running finance up to Rs. 600 million has been approved by the Board of Directors of Kohat Cement Company Limited (PSX: KOHC). For a period of one year starting on October 29, 2024, this financing will be used to meet its working capital needs at a markup rate of 1.50 percent above three months’ KIBOR or at the company’s average borrowing cost, whichever is higher. According to KOHC, UKPL…
Islamabad, Oct 15: PBA Applauds SBP’s Revised SME Financing Limits as a Key Driver of SME Growth in Pakistan. This notification comes as part of the recommendations put forward by the Pakistan Banks’ Association SME Task Force. The Pakistan Banks’ Association applauds the State Bank of Pakistan (SBP) for its progressive step in revising per-party exposure limits for Small Enterprises (SE) and Medium Enterprises (ME), a critical measure aimed at enhancing credit access for SMEs. Under the revised framework, Small Enterprises (SE R-2) can now avail exposure of up to Rs. 100 million from a single bank or all banks…
Islamabad, Oct 14: ISNET and Iranian Space Agency to Host Workshop on Space Technology for Disaster Management in December. An international workshop on “Space Technology Applications for Disaster Management” has been announced by the Iranian Space Agency (ISA) and the Inter-Islamic Network on Space Sciences and Technology (ISNET) as part of their efforts to strengthen international disaster management efforts. An official source claims that the gathering, which is set for December 15–17 in Tehran, will provide a unique forum for sharing insights on how advanced space technology may be used to improve resilience and readiness for disasters. In order to…
Islamabad, Oct 14: Chinese Investment to Boost Sanitary Ware Manufacturing in Punjab. Modern Ceramics Sanitary Ware (Pvt) Limited, a prominent Chinese company, is planning to invest more than Rs8 billion in Punjab, which is a major step forward for Pakistan’s industrial sector. The revelation came to light during a high-level meeting held here on Monday between the leadership of the Punjab Board of Investment and Trade (PBIT) and the company’s team. Modern Ceramics representatives met with PBIT Chairman Muntaha Ashraf, CEO Suhail Saleem, and BoD Member Ahmad Ali Tariq to talk about the company’s ambitious ambition to build a state-of-the-art…
Islamabad, Oct 14: Chief Minister Welcomes Chinese Prime Minister Li Qiang’s Upon Arrival in Pakistan. Chinese Prime Minister Li Qiang’s visit to Pakistan was cordially received by Punjab Chief Minister Maryam Nawaz Sharif. “On behalf of the Punjab government and its people, we extend a warm welcome to Chinese Prime Minister Li Qiang,” the chief minister said in her statement. The Chinese Prime Minister’s visit to Pakistan is seen as the start of a new era of friendship between the two countries. According to the CM, the relationship between China and Pakistan is what ensures global peace, prosperity, and regional…
SCO Summit A Good Omen for the World.The 2024 SCO Summit is being held in Islamabad from 15 to 16 October 2024, for which elaborate security and administrative arrangements have been made by the government of Pakistan. Many world leaders are expected to attend the summit during which Indian Minister for External Affairs Mr Jaishankar will represent his Prime Minister. The invitation was extended to Mr Modi, yet participation of his Minister for External Affairs is also being considered as a welcoming gesture, though no headway is expected on bilateral account. The vibrant SCO is the largest regional conglomerate which has the…
Islamabad, Oct 14: Economy Heading Towards Development Pakistan, Russia, Brazil Express Desire To Invest In Pakistan. In an effort to support Pakistan’s economic development, China, Russia, and Brazil have recently stated their intention to invest in a number of areas. Restoring international trust in the country’s economy and guiding it toward growth are major tasks for the Special Investment Facilitation Council. While Russia and Brazil are taking part in trade deals with Pakistan, China is eager to transfer its diverse industries to Pakistan. In this context, more than 60 representatives from important Russian ministries, including industry and commerce, agriculture, and…
Islamabad, Oct 14: LDA to Implement Eco-Friendly Infrastructure Upgrades in Gulberg. According to a report published on October 14, the Lahore Development Authority (LDA) is scheduled to begin a sustainable development program for the Gulberg region with an estimated budget of PKR 3.306 billion. According to specifics, this project, which is in line with Chief Minister Maryam Nawaz’s vision, should be finished in six months. The idea was formally approved at a recent meeting of the LDA governing council. As the provincial capital of Punjab and the second-largest city in Pakistan, Lahore faces enormous hurdles in managing rapid urbanization while…