Author: Faiza Liaquat

The 9th Islamabad Literary Festival for 2023 opens with a thematic focus on sustainability and inclusivity, promoting a more sustainable and inclusive world through the power of literature. Notable authors, including the British High Commissioner, gather to celebrate diverse perspectives and creativity, fostering a cultural shift through the written word and artistic expression.

Meezan Apni Bike Financing offers flexibility with 1, 2, or 3-year terms, enabling customers to buy motorcycles from popular brands. Customers in major Pakistani cities can make payments through direct debit, and the financing follows Shariah-compliant Musawammah mode, with strict document requirements based on employment status.

The Pakistan Stock Exchange’s KSE-100 index achieved an “all-time high,” surpassing 53,000 points with a 1 percent gain, signaling improved market confidence. Analysts expect reduced economic and political uncertainties to continue driving the market upward, although valuations remain relatively low when considering dividends and bonuses.

General elections in the country have been set for February 8th next year following discussions between the President and the Chief Election Commissioner, in compliance with a Supreme Court directive. The meeting also assessed the progress of election preparations and delimitation by the Election Commission of Pakistan.

Pakistan leads the ICC World Cup 2023 with the highest catch efficiency, securing 31 out of 37 opportunities and dropping only six catches. The Netherlands closely follows with an 86% catch success rate, reflecting strong fielding performances.

Mobilink Bank reports significant growth in Q3 2023, demonstrating its commitment to supporting MSMEs and delivering innovative solutions. As part of the VEON group, the bank contributes to digital inclusion and economic growth across multiple countries.

The FBR surpassed its revenue goal, collecting Rs2.75 trillion in July-October, but faces a challenge as millions of individuals and companies failed to file their annual tax returns. The FBR is now taking steps to register one million non-filers and send notices to those who paid withholding taxes but didn’t file their returns.

The government has increased profit rates for Regular Income Certificates, Savings Accounts, and Short Term Savings Certificates by up to 100 basis points, while rates for Special Savings Certificates, Behbood Savings Certificates, and Pensioners Benefit Account have been lowered. Defense Saving Certificates, however, remain unaffected.

Pakistan’s national elections are confirmed for February 11, 2024, as revealed by the Election Commission during a Supreme Court hearing addressing concerns about election delays. The date will be finalized after consultations with the president, following the completion of the delimitation process by November 30.

Management Position officers (MP I, MP II, and MP III) will see a substantial 45% pay and benefits increase approved by the Caretaker Prime Minister, effective from October 1, 2023, with adjustments to salary, house rent, and allowances. These changes will be covered by respective divisions/ministries, and existing MP scale officers will receive the revised package based on their performance evaluations, while transport allowances remain unaltered.