The Senate Standing Committee on Information Technology and Telecommunication has strongly opposed the proposed blockage of Virtual Private Networks (VPNs) from November 30, citing potential losses of $400 million in IT remittances. The committee, chaired by Senator Palwasha Mohammad Zai Khan, criticized the move as illegal, noting no law permits blocking such technology.
(more…)Category: Pakistan
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Weekly SPI Inflation Increases by 0.55%
Islamabad, November 15, 2024 – The Sensitive Price Indicator (SPI), which measures weekly inflation, recorded an increase of 0.55% for the week ending November 14, 2024, according to the Pakistan Bureau of Statistics (PBS). The rise reflects notable price hikes in essential commodities, impacting households across the country.
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PM Shehbaz Urges Nation to Pray for Rain Relief
Islamabad, November 14, 2024 – Prime Minister Shehbaz Sharif on Thursday appealed to the public to observe Namaz-e-Istisqa, or prayers for rain, across the nation, urging citizens to seek Allah Almighty’s mercy to ease the prevailing dry conditions. The Prime Minister’s call emphasizes the importance of collective prayers in mosques throughout the country to invoke divine intervention for rain amid growing environmental concerns.
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First-Ever Direct Cargo Vessel Arrives in Bangladesh from Pakistan
Chittagong, November 13, 2024 – In a historic development, a direct cargo vessel from Karachi, Pakistan, docked at the port of Chittagong, Bangladesh, marking the establishment of the first-ever direct maritime link between the two neighboring countries. This pioneering route is anticipated to significantly enhance logistical efficiencies, streamline supply chains, and reduce transit times between Pakistan and Bangladesh, fostering closer trade ties in the region.
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Pakistan Set to Escalate Petroleum Prices from November 16
Islamabad, November 13, 2024 – Pakistan is preparing to implement another surge in petroleum prices, marking the second increase within November, as reported by official sources. This anticipated adjustment, effective from November 16, 2024, is driven by escalating premiums on petroleum products in the global market, which have significantly raised import costs and strained domestic resources.
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FBR Reviews Lifting Petroleum Tax Exemption to Address Shortfall
Islamabad, November 13, 2024 – The Federal Board of Revenue (FBR) is contemplating a strategic reversal of the sales tax exemption on petroleum products, potentially introducing a modest 5-7% tax to stabilize fiscal revenues amid a challenging economic landscape.
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Pakistan’s Total Debt, Liabilities Rise to Rs 85.84 Trillion in 1QFY25
Karachi, November 11, 2024 – Pakistan’s fiscal challenges intensified as total debt and liabilities surged to Rs 85.84 trillion by the end of the first quarter of FY2024-25, the State Bank of Pakistan (SBP) reported Monday.
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Pakistan Assures Full Support for Maersk $2 Billion Investment
Islamabad, November 11, 2024 – The Ministry of Maritime Affairs has assured Maersk officials of its full support in facilitating the company’s operations and addressing any challenges that may arise, as Pakistan prepares for a landmark $2 billion investment from the Danish shipping giant.
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Pakistan Launches Nationwide Polio Vaccination from Oct 28
Islamabad, October 27, 2024 – In a renewed drive against polio, Pakistan will launch a nationwide polio vaccination campaign starting Monday, October 28, 2024, with the aim of protecting over 45 million children under the age of five.
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OGDCL Begins Oil and Gas Production from Sanghar District
Islamabad, October 24, 2024 – Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) firm, has successfully commenced oil and gas production from its exploratory well Baloch-2, situated in the Sanghar district of Sindh.
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