SBP slashed the policy rate at 20.5 percent
The State Bank of Pakistan slashed the policy rate by 150 basis points to 20.5 percent owing to subsiding inflationary pressure and ease in inflation expectations amid tight policy stance that was also supported by fiscal consolidation and administrative measures by government.
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Jubilee Life Bags Two Accolades Marking the Sixth Consecutive Win at Pakistan Digital Awards 2024
Jubilee Life Insurance, Pakistan’s largest private sector insurance company, secured another win at the Pakistan Digital Awards 2024. The company was honored with the prestigious awards for Best Digital Marketing Communication Videos – Jubilee Life Micro-insurance and Best Digital Campaign – HBLPSL 8 Cricket, marking its sixth consecutive win at this event. The awards were received on behalf of Jubilee Life Insurance by members of the brand and agency team.
onic Lights Up Times Square’ in Support of Pakistan for T20 World Cup 2024
onic, Pakistan’s leading digital telco brand, proudly announced its unwavering support for the Pakistani cricket team in their highly anticipated T20 World Cup 2024 match against India. In a bold and symbolic gesture, onic showcased a powerful montage at One Times Square, New York, to rally behind the team.
SECP Publishes Report Crop and Livestock Insurance in Pakistan
Despite the global prominence of agriculture insurance in over 100 countries, Pakistan’s agricultural insurance landscape remains underdeveloped, accounting for only 2% of the total non-life sector premiums. At present, government-led insurance schemes cover approximately 14% of farmers, necessitating substantial expansion and enhancement. The report provides a detailed review of existing government-led agricultural insurance schemes such as the Crop Loan Insurance Scheme, the Livestock Insurance for Borrowers, and the Punjab Fasal Beema Scheme. It also discusses several pilot initiatives by the private sector.
Pakistan, China sign 23 MoUs for cooperation in industry, energy, agriculture
Pakistan and China signed 23 Memorandums of Understanding (MoUs) to deepen bilateral cooperation in multiple areas including transport infrastructure, industry, energy, agriculture, media, health, water, socioeconomic development, and other areas of mutual interest.
PM invites China’s NORINCO firm to invest in KCR
Prime Minister Shehbaz Sharif invited the China Northern Industry Corporation (NORINCO) to invest in Pakistan’s communications infrastructure project, particularly the Karachi Circular Railway.
ADB approves financing to boost Public–Private Partnerships in Pakistan
The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help the Pakistan drive sustainable investments in infrastructure and services through public–private partnerships (PPPs).
Unity Foods Partners with The Green Ark to Recycle Plastic waste
Unity Foods continues to showcase a strong commitment to ESG principles through a partnership with The Green Ark (TGA). A MoU was signed to this effect between both companies whereby TGA will collect and transform scrap materials from Unity Foods to create a diverse array of recycled products intended for reuse. The initiative aims to facilitate the circular economy by mitigating the impact of single-use plastics that contribute significantly towards the deterioration of global ecosystems.
Six parties pre-qualify for the privatization of PIACL
The Board of the Privatization Commission decided to pre-qualify 06 interested parties for the divestment of Pakistan International Airlines Corporation Limited (PIACL). The 219th meeting of Privatization Commission Board was held under the chairmanship of Minister for Privatization and Chairman Privatization Commission, Abdul Aleem Khan.
Govt. to establish 10,000 E-Rozgar centers
The government, in collaboration with the Pakistan Software Export Board (PSEB), plans to establish around 10,000 e-Rozgar centers across the country to facilitate freelancers under one roof.