The Federal Minister of Commerce, Syed Naveed Qamar, is withholding his signature for the establishment of the Pakistan Land Port Authority (PLPA) in the cabinet. He has expressed dissatisfaction with the lack of consultation with his ministry regarding the matter.
In the agricultural region of Hadiara in Lahore, Punjab, an incident occurred where a drone carrying narcotics, worth millions in local currency, crashed into fields, causing alarm among the local community.
Fly Jinnah, the leading low-cost airline in Pakistan, has announced the introduction of a new route between Quetta and Islamabad, which will commence operations on July 23, 2023. The new route will provide passengers with five weekly flights, facilitating convenient travel between the two cities.
Gold prices in Pakistan witnessed a substantial increase for the second day in a row, resulting in a total gain of over Rs. 10,000 per tola. The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that the price of 24-carat gold surged by Rs. 6,500 per tola to reach Rs. 214,500, while the price of 10 grams rose by Rs. 5,574 to close at Rs. 183,900.
In an effort to address traffic congestion and minimize environmental impact, the Capital Development Authority (CDA) is contemplating the expansion of Pir Sohawa Road, which connects Margalla Hills National Park, the federal capital, and Khyber-Pakhtunkhwa. This expansion would also provide an alternative route to Bari Imam.
Lahore’s traffic police have significantly increased their efforts to address the issue of motorcyclists riding without helmets.
Pakistan’s Prime Minister, Shehbaz Sharif, revealed his decision to transfer power to a caretaker government on August 14th, marking the beginning of general elections. The announcement comes amidst growing uncertainties surrounding the electoral process. During his address in Islamabad, the Prime Minister assured the public that his government would conclude on August 14th, and the Election Commission of Pakistan would determine the exact date for the elections, be it in October or November.
The National Electric Power Regulatory Authority (NEPRA) has tentatively approved a proposal to increase the base tariff of electricity by Rs. 4.96 per unit. This decision is aimed at fulfilling a requirement imposed by the International Monetary Fund (IMF).
The Pakistani rupee concluded the week with a decline against the US dollar in intraday trading today, starting at 274 in the interbank market.
In a recent update shared by popular business analyst Ali Khizar, it has been revealed that car imports in Completely Built-Up (CBU) form have witnessed a significant rise in Pakistan.
In the first half of this year, Pakistan experienced a significant brain drain as over 832,000 individuals, including 400,000 highly qualified young professionals, left the country in search of job prospects overseas.
During the groundbreaking ceremony of the Chashma Nuclear Power Plant Unit 5 (C-5) in Mianwali, Pakistan, Prime Minister Shehbaz Sharif announced that the government’s economic team successfully averted the risk of potential default.
