Author: PakPositive Staff

Pakistan’s trade deficit has shown a robust improvement of 33.59% in the first five months of the fiscal year (5MFY24), shrinking to $9.378 billion, driven by increased exports (1.93%) and a significant decrease in imports (17.32%). This positive trend reflects the country’s efforts to enhance economic stability through a narrowed trade deficit.

Chinese electric bike manufacturer TAILG is teaming up with Hi-Speed Motorcycles to bring eco-friendly electric bikes to Pakistan, aiming to transform the two-wheel industry and reduce travel costs. Hi-Speed Motorcycles has started teasing the imminent launch of TAILG’s electric bikes, promising an ultimate eco-friendly journey for Pakistani consumers.

Pakistan’s Higher Education Commission hosts an award ceremony for 321 Sri Lankan students awarded the “Allama Muhammad Iqbal Scholarships,” fostering educational collaboration and cultural exchange between the two nations. The initiative represents a commitment to enhancing opportunities for Sri Lankan students in various disciplines at Pakistani universities.

Nestlé Pakistan has donated PKR 5 million to back SOS Children’s Village, showcasing its commitment to orphaned children’s welfare. This reflects Nestlé’s ongoing dedication to community development and social responsibility in Pakistan through its Creating Shared Value philosophy.

The Pakistani rupee saw its third consecutive day of improvement against the US Dollar, closing at 285.17. Additionally, Pakistan and Kuwait signed seven agreements to attract significant investments, spanning crucial sectors like agriculture, power, water supplies, mining, technology zones, and mangrove preservation.

Pakistan’s path to self-sufficiency in edible oil within a decade hinges on unlocking the vast potential of olive farming and millions of wild olive trees, saving $4.5 billion in annual imports. A recent discussion at the Institute of Policy Studies underscored the transformative impact, emphasizing the need for awareness, collaboration, and the integration of success stories into educational curricula for a holistic socio-economic transformation.

InfraZamin Pakistan and Kashf Foundation’s successful closure of South Asia’s first ‘Gender Bond,’ raising Rs. 2.5 billion, marks a significant stride in empowering 30,000 women from low-income backgrounds for entrepreneurial pursuits and micro-infrastructure development, contributing to Pakistan’s economic growth.

The Federal Board of Revenue (FBR) surpassed its November 2023 tax collection target with Rs. 736 billion, demonstrating a 38 percent growth. Over the first five months, FBR collected Rs. 3,484 billion, exceeding the set target despite a 54 percent rise in refunds and issuing three million tax notices to non-filers for improved compliance.

Tetra Pak Pakistan collaborates with WWF for the sixth year to educate 10,000 students across 50 schools on sustainability through engaging activities and recycling initiatives, fostering environmental responsibility from a young age.

Pakistani teams achieved a milestone by debuting in the global cybersecurity event, Black Hat, with notable rankings—AirOverflow secured 27th, Sudoers at 32nd, and Gryffens at 33rd out of 250 teams. Ignite’s initiative provided a unique platform for these teams, marking a historic leap in Pakistan’s cybersecurity representation.