Author: Faiza Liaquat
The Economic Coordination Committee has granted Rs. 100 million to the Pakistan Sports Board, offering vital support for the Pakistan Hockey Federation’s participation in international events, including Olympic Qualifiers and the FIH 5S Hockey World Cup, highlighting the government’s key role in sustaining the national sport.
The Pakistani rupee continued its upward trend against the US Dollar for the fifth day, closing at 281.22 in the interbank market. Although it has faced a notable depreciation since April 2022, the rupee gained six paisas on the day, marking a positive move in the ongoing stability.
The Punjab government is set to provide free training for 10,000 individuals to become tourist guides, focusing on enhancing skills and promoting inclusivity. Conducted online by the Institute of Tourism and Hotel Management, the initiative aims to boost the tourism sector in the province.
Ignite, through the co-working spaces project, is set to support 25,000 freelancers in Pakistan with an innovative subsidy model, utilizing Rs. 1 billion from the Public Sector Development Program. This groundbreaking initiative aims to empower freelancers by channeling funds to co-working space owners, facilitating the creation of essential facilities and fostering a dynamic freelance landscape.
In a groundbreaking move, 18 women have graduated as Pakistan’s first female bus drivers through the Sindh Mass Transit Authority’s initiative in Karachi, aiming to diversify the public transport sector. The program emphasizes inclusivity, with participants from underprivileged areas, and envisions their contribution not only to female-only Pink buses but also to the broader bus rapid transit system in Karachi.
Overseas Pakistanis sent a record $2.4 billion in remittances in December 2023, marking a significant 13.4% YoY increase, while remittances for the first half of fiscal year 2023-24 totaled $13.4 billion, down 7% from the same period last year.
Caretaker Chief Minister Mohsin Naqvi launches ‘Green Wheels,’ offering 10,000 interest-free electric bikes and rickshaws in Punjab, emphasizing sustainable transportation and banning fuel motorcycles in government procurement to promote environmental responsibility. The initiative reflects Punjab’s commitment to a cleaner future, with the rollout planned in the coming weeks.
Dr. Umar Saif introduces the Rs. 2 billion Pakistan Startup Fund, offering crucial financial aid to startups with 30% support from the fund and 70% from venture capitalists, aiming to foster innovation and growth in Pakistan’s tech landscape. The initiative aligns with the government’s commitment to supporting over 4,000 startups through National Incubation Centers and attracting global investments.
The Pakistani rupee strengthened for the fourth day against the US Dollar, closing at 281.28 in the interbank market, though it has seen a significant decline since January 2023. Today, it showed mixed performance, gaining against some major currencies but losing ground against others.
The National Citrus Festival in Sargodha, hosted by the Federal Government and Punjab, spotlights Pakistan’s thriving citrus industry, attracting visitors nationwide and fostering economic growth. This event not only provides a platform for businesses but also aims to educate the public on citrus farming and sustainability, reinforcing a commitment to environmental responsibility.