Author: PakPositive Staff
Federal Minister for IT and Telecom, Dr. Umar Saif, leads impactful discussions at Davos, focusing on investments in Pakistan’s tech sector, engaging with global leaders like Bill Gates and exploring opportunities in cryptocurrency and Salesforce expertise.
Pakistan’s Real Effective Exchange Rate (REER) in December 2023 edged up to 98.9, signaling favorable returns for exports and an undervalued currency, as per the State Bank of Pakistan. The REER value below 100 implies sustained trade competitiveness.
Utility Stores Corporation achieved a milestone with its highest-ever sales of Rs. 137.155 billion in FY23, recording a net profit of Rs. 764 million, attributed to government subsidies on essential items. The state-run utility has maintained profitability for three consecutive years, reflecting consistent growth.
Bank Alfalah’s 2023 initiative, led by Chairman Sheikh Nahayan bin Mubarak Al Nahayan, disbursed PKR 1.24 billion for comprehensive flood relief, addressing healthcare, housing, education, and livelihoods. The two-phased strategy emphasizes immediate relief and long-term community redevelopment, partnering with 24 organizations for sustainable and inclusive rebuilding.
The Pakistani rupee continued its upward trend for the ninth day, opening at 279 against the US Dollar and closing at 280.24, marking a 0.04 percent appreciation. It also showed strength against various major currencies in the interbank market.
Dr. Umar Saif leads Pakistan’s first IT delegation at Davos, engaging in diplomatic talks and showcasing initiatives for the country’s IT sector, generating optimism for collaboration opportunities, as expressed by Chairman P@SHA, Zohaib Khan.
Roshan Digital Accounts (RDAs) recorded $7.195 billion in foreign exchange inflows by December 2023, with $1.538 billion repatriated and $4.442 billion utilized locally. In December, $160 million was received, $7 million repatriated, and $120 million utilized locally, reflecting a growing trend with 651,057 RDAs opened since their launch.
Sehat Kahani, Pakistan’s leading digital healthcare platform, is forging a strategic alliance with EFU Health Insurance Ltd – Pakistan’s First Specialized Health Insurer, to extend online healthcare services to EFU Health’s covered members. This collaboration heralds a breakthrough for EFU Health enabling policyholders to connect with 24/7 available general physicians within 60 seconds. Additionally, policyholders can easily schedule online appointments with preferred specialists for personalized and specialized care. The signing ceremony was held on 11th January 2024 exemplifies the cooperative ethos between EFU Health and Sehat Kahani. This collaboration is poised to revolutionize healthcare accessibility and convenience for EFU Health’s…
The caretaker government has lowered petrol prices by Rs. 8 per liter to Rs. 259.34, keeping high-speed diesel unchanged at Rs. 276.21, considering global oil dynamics and maintaining a Rs. 60 per liter petroleum development levy.
The Pakistani rupee extended its 8-day winning streak against the US Dollar, closing at 280.35 after gaining 0.27%, propelled by favorable market conditions and the recent IMF disbursement of around $700 million. The rupee’s strengthening trend reflects positive sentiment in both domestic and international financial landscapes.