Author: Maryam Khichi
The Pakistan Bureau of Statistics (PBS) reported on Friday that the country’s exports saw an increase of 11.83 percent during the first month of the fiscal year 2024-25 compared to the same month last year. In July 2024, exports were recorded at $2.308 billion, up from $2.064 billion in July 2023. Imports also rose by 15.30 percent, reaching $4.256 billion in July 2024 compared to $3.691 billion in July 2023. Consequently, the trade deficit for the month was $1.948 billion, an increase of 19.71 percent from the previous year’s deficit of $1.627 billion. On a month-on-month basis, exports in July…
The government of Pakistan has decided to provide substantial financial assistance and rehabilitation grants to the families of missing persons, offering Rs5 million per individual. According to government sources, the decision will be formally announced in an upcoming cabinet meeting. Government sources emphasized that this financial assistance is a rehabilitation grant, not compensation, aimed at supporting the families of individuals who have been missing for more than five years. “Bereavement assistance is not compensation but a rehabilitation grant,” clarified the sources, who also stressed that every possible step is being taken to resolve the issue of missing persons. They further…
Pakistan’s street football team has qualified for the quarter-finals of the Norway Cup after a thrilling 3-1 victory against Kasterndam Club. Both teams were level at one goal each by halftime, but the Green Shirts showcased their exceptional talent in the second half, scoring two decisive goals. Obeidullah, Muhammad Kashif, and Muhammad Isa each contributed a goal to secure the win. Muslim Hands Pakistan, the NGO sponsoring the team, celebrated this milestone with the Pakistani community in Norway. The team will face Germany in the quarter-finals on Saturday, aiming to surpass their runner-up finish in the last edition and lift…
Prime Minister Shehbaz Sharif announced that starting August 14, Pakistan will offer free visas to Chinese citizens. This announcement was made following a meeting with a high-level Chinese delegation, which PM Sharif described as a milestone in bilateral relations. “China and Pakistan share an eternal bond of friendship,” remarked PM Sharif, highlighting the ongoing cooperation between the two countries. He emphasized the potential for enhanced collaboration in several areas, including industry, agriculture, and economic zones. Increased agricultural cooperation will enable Pakistan to export high-demand products to China, meeting Chinese quality standards and expanding trade opportunities. PM Sharif also noted the…
The State Bank of Pakistan (SBP) reported a modest increase in its foreign exchange reserves, which rose by $75 million or 0.83% week-on-week, reaching $9.1 billion as of July 26, 2024. This positive shift follows a period of stable fluctuations in the country’s foreign reserves. Meanwhile, Pakistan’s total reserves saw a slight increase of $56.3 million or 0.39%, bringing the cumulative figure to $14.39 billion. However, commercial banks experienced a decline in reserves, with a decrease of $18.7 million or 0.35%, resulting in a total of $5.29 billion. For the current fiscal year, SBP reserves have decreased by $287.3 million…
On Thursday, ride-hailing service Careem announced the launch of flexible pricing options for its services in Karachi. According to a press release, the new “Flexi Ride” feature allows customers and Careem drivers to negotiate and choose their preferred prices for rides. The Flexi Ride option offers four categories: Flexi GO, Flexi GO Mini, Flexi Bikes, and Flexi Riksha. The existing GO Premium category will continue with its variable fare model. During booking, customers will see a suggested fare that they can adjust. The selected fare is then sent to multiple drivers, who can either accept the ride or propose a…
Pakistan Railways has announced a significant fare reduction for all classes of passenger trains, effective from Saturday, August 3. This initiative is aimed at benefiting travelers across the country. The new fare structure includes a decrease in AC class tickets ranging from Rs100 to Rs150, providing substantial savings for higher-class passengers. Economy class fares have been reduced by Rs50, making train travel more affordable for a broader segment of the population. This fare reduction applies to all passenger trains operating nationwide, encouraging more people to use railway services and easing the financial burden on regular commuters. A spokesperson for Pakistan…
Pakistan’s batting maestro Babar Azam has returned to the third spot in the latest ICC rankings, recovering from his previous drop to fourth place after the England-West Indies series. In the recent rankings update, Pakistan’s Babar Azam and New Zealand’s Daryl Mitchell are now tied for third place with 768 points. This update has pushed Babar Azam and Mohammad Rizwan down to fifth and sixth places, respectively. England’s Joe Root has reclaimed the top position in the ICC Men’s Test Player Rankings following an impressive series against the West Indies. Australia’s Steve Smith and India’s Rohit Sharma are now ranked…
The Pakistan U18 volleyball team continued their winning streak, defeating Chinese Taipei 3-1 in the first Super Eight match of the Asia U18 Volleyball Championship 2024 on Thursday. This victory significantly boosts Pakistan’s chances of reaching the semifinals. After a flawless group stage performance, where they won all three matches, Pakistan entered a challenging Super Eight group alongside Japan, Chinese Taipei, and Korea. In a thrilling match to kick off the Super Eight stage, Pakistan displayed exceptional skill and composure, winning with set scores of 25-20, 24-26, 25-18, and 25-23. Standout performances came from Mehd Ali Shah, Abu Bakar, Muhammad…
On Wednesday, Prime Minister Shehbaz Sharif announced a 10-day extension for electricity bill payments, providing much-needed relief to consumers facing economic challenges. The Power Division issued a notification, instructing all electricity distribution companies to implement this extension. This decision aims to ease the burden on consumers who have been struggling with rising costs and economic pressures. The extension applies to the due dates for electricity bills in July and August 2024, giving consumers additional time to manage their payments.