Stocks in Pakistan closed near their record high on Thursday as robust foreign inflows and improving macro-economic indicators boosted sentiment. Pakistan Stock Exchange’s benchmark KSE-100 index gained 1.1% to close just shy of the previous record of 81,865.10, after touching a new high earlier in the day. The gauge has risen more than 30% this year, aided by foreign investors’ net...
Punjab Chief Minister Maryam Nawaz chaired a provincial cabinet meeting, where several key projects and policies were approved. One of the major initiatives is the “Apna Ghar Apni Chhat” scheme, which aims to build 500,000 houses across Punjab in the next five years. The “Chief Minister Green Tractor Program” and the “Children Heart Surgery Programme” were also given the go-ahead. The...
September 13, 2024 (MLN): Pakistan’s real estate sector — despite navigating a complex landscape — has opportunities, which if leveraged can catalyze the sector, real estate company Savills noted in a research report. Of the major sectors within real estate, the office sector, co-working/serviced office spaces, and regional retail malls have shown strong...
According to a report by ARY News on Thursday, the Sindh government has launched a new housing initiative named “Sasti Basti,” aimed at offering affordable housing to disadvantaged residents of the province. The initiative was unveiled during the 29th Governing Body meeting of the Human Settlement Authority’s annual budget, chaired by Najmi Alam, Advisor to the Chief Minister for Human Settlement...
The Punjab government has taken a step forward by forming a working group consisting of 18 different departments to prepare for a new glass train project. This train will run between Rawalpindi and Bhurban in Murree, with work beginning on the initial phase, Project Concept One (PC-1). The transport minister of Punjab has been selected to lead this group, including the Rawalpindi commissioner, the...
Monetary Policy Committee Reduces Policy Rate by 200 Basis Points to 17.5% In a significant move aimed at bolstering economic growth, the Monetary Policy Committee (MPC) has announced a 200 basis points (bps) reduction in the policy rate, bringing it down to 17.5%. This decision reflects the MPC’s ongoing efforts to provide relief to businesses and consumers in the face of evolving economic...
Project will provide citizens with comfortable travel, improve vehicle fitness levels ISLAMABAD: The first of its kind in Pakistan, a comprehensive strategy has been developed for the digitalization of the transport system in Rawalpindi to further facilitate commuters. Informed sources told The Express Tribune that the Punjab Information Technology Board (PITB) will develop the software for this...
ISLAMABAD – China’s major business group Hexing Electrical has expressed interest in investing in Pakistan’s key sectors. The interest was expressed by Hexing Group China Chairman Liang Zhang Zhou during a meeting with Minister for Board of Investment and Privatization Abdul Aleem Khan in Islamabad. The Chinese delegation said they want to invest in renewable energy and to set...
Maximizing Returns with the RUDN Interest Form: The Significance of Standing on a 50% Profit In the realm of real estate and investment, achieving substantial returns is a testament to effective strategy and market insight. One such measure of success is standing on a 50% profit, particularly when using the RUDN interest form. This article delves into the importance of this milestone, exploring its...
Cyclone Asna steered away from Pakistan’s coastline on Saturday — lying about 370 kilometres away from Karachi — but residents of Balochistan’s coastal belt still braced for expected rains brought by the weather system. A deep depression (a very strong low-pressure area), which the Pakistan Meteorological Department (PMD) warned on Thursday would bring widespread...