State Bank reduces interest rate to 15% by 2.5 Points
The Monetary Policy Committee (MPC) decided to cut the policy rate by 250 basis points to 15 percent, effective from November 5, 2024. The Committee noted that inflation has declined faster than expected and has reached close to its medium-term target range in October.
Adil Aziz
Pakistan-Uzbekistan direct flights Set to commence at end of November 2024
Ambassador of Uzbekistan to Pakistan AliSher Tukhtaev announced that direct flight operations between Pakistan and Uzbekistan will start at the end of the current month of November 2024, describing it as important for the business community of both countries.
Editor
New EV Policy to Be Announced on November 30
Minister of Food Security, Industries and Production Rana Tanveer Hussain told the Senate that the Electric Vehicle (EV) policy would be announced on November 30 to promote local manufacturing of EVs and ensure a sustainable transport system.
State Bank to Unveil Monetary Policy on Nov 4
The State Bank of Pakistan (SBP) will announce Monetary Policy on November 04 in a meeting of the Monetary Policy Committee (MPC).
Wafi Energy acquires major stake in Shell Pakistan
Wafi Energy Holding Limited (Wafi Energy) becomes the majority shareholder of Shell Pakistan Limited (SPL) after the company, a subsidiary of Shell plc (Shell), completes the sale of its 77.42 percent interest in SPL.
Govt to facilitate foreign and local investors: Minister for Industries and Commerce
Sindh Minister for Industries and Commerce Jam Ikramullah Khan Dharejo said the provincial government is working to facilitate foreign and local investors to invest in the food and allied sectors sector and to generate economic activities and employment for the youth.
SECP Partners with Punjab and Sindh to Advance “Insured Pakistan” Initiative
After Balochistan and KPK, the Securities and Exchange Commission of Pakistan (SECP), as part of its five-years strategic plan – Journey to an Insured Pakistan, concluded first round of its provincial outreach in Punjab and Sindh.
BYD Showcases Flagship EV at Pakistan Auto Show 2024
BYD, the world’s leading New Energy Vehicle (NEV) manufacturer and pioneer in sustainable transportation solutions, participated in the prestigious Pakistan Auto Show 2024 through local partner Mega Motor Company (MMC). The company unveiled its highly anticipated NEVs to the local market at the event as well as officially opened bookings for two flagship models, BYD ATTO 3 and BYD SEAL, reinforcing its commitment to advancing the adoption of electric vehicles in Pakistan.
Fatima Fertilizer Becomes the First Company in Pakistan to Partner with UNDP on SDG Impact Framework
Fatima Fertilizer has become the first company in Pakistan to officially partner with the United Nations Development Programme (UNDP) by adopting SDG Impact Framework. This milestone marks a significant step in the company’s journey toward sustainability, focusing on mapping its contributions to the UN’s Sustainable Development Goals (SDGs). Fatima Fertilizer recently launched a campaign highlighting its unwavering commitment to SDGs to commemorate this achievement.
Pakistan textile exporters should explore emerging markets: President IAF
Pakistan’s garment and textile exporters should diversify export destinations by entering emerging and high-end markets, including Russia, Central Asia, and Middle Eastern countries. This was stated by CEM Altan, President International Apparel Federation (IAF), at a media briefing held on Friday at a local hotel.