Pakistan’s Finance Minister, Ishaq Dar, announced on Saturday that he had cancelled his scheduled trip to attend the spring meetings of the International Monetary Fund and World Bank in Washington. This decision was made on the orders of the Prime Minister, due to the current political situation in the country. Despite not attending in person, […]
Pakistan’s inflation remained above the 40% barrier for the seventh consecutive week, reaching 45.49% YoY for the week ended on April 6, 2023, according to data released by the Pakistan Bureau of Statistics (PSB) on Friday. The YoY trend shows an increase mainly due to rising prices of cigarettes (165.88%), wheat flour (131.72%), gas charges […]
Pakistan’s economic and debt sustainability are at risk, according to the World Bank’s ‘Pakistan Development Update’ report. The flagship report has predicted nearly stagnant economic growth and an average inflation rate of 29.5% for the current fiscal year, while warning of severe dangers to the country’s economy. Pakistan’s economic future appears to be highly uncertain, […]
Pakistan’s Finance Minister Ishaq Dar is scheduled to lead a high-level delegation to the United States to attend the annual spring meeting of the International Monetary Fund (IMF) and the World Bank. The primary objective of the delegation is to negotiate a $1.1 billion bailout for Pakistan with the IMF and present fresh proposals for […]
Pakistani electric scooter manufacturer, Evee, has announced that it will reopen the bookings for its new batch of C1 electric scooters on April 10, with the added bonus of a new variant, the C1 Pro. The new variant boasts improvements over the C1, featuring a better battery with a longer range, and a new Space […]
Samba Bank, a leading financial institution in Pakistan, has recently announced the appointment of Ahmad Tariq Azam as its new President and CEO. This decision has been approved by the Board of Directors of the bank, and is now subject to the approval of the State Bank of Pakistan. Ahmad Tariq has been associated with […]
Pakistan is a developing country with a population of over 220 million. Despite significant progress in various sectors, including education and healthcare, Pakistan lags behind in technological advancement compared to other countries in the region. In this article, we’ll explore the five main reasons why Pakistan is struggling to keep up with the rest of […]
The automotive industry continues to face troubles due to the economy’s continuous deterioration. Honda Atlas has recently announced that they will be extending their production shutdown for an additional 15 days. The reasons cited for this lengthy shutdown are supply chain disruption due to the economy’s deterioration and restrictions on raw materials and CKD imports. […]
The Institute of Space Technology (IST) located in Islamabad, Pakistan, was recently targeted by a hacking group known as Medusa. The group gained access to the university’s data, which included passports, payslips, analysis details, and other sensitive information. In exchange for the data, Medusa demanded a ransom of $500,000. After several days of demanding payment, […]
The Competition Commission of Pakistan (CCP) has issued a warning to the public about the growing trend of mobile app-based micro-credit and nano-loan facilities. These applications, which are available on Google PlayStore and AppStore, offer short-term financing to borrowers, but they are currently facing numerous complaints and challenges in their track-and-trace process. The CCP has […]