ISLAMABAD: The government has hired an American consultancy firm, Kearney, to help attract foreign investment in the country. It was informed to Prime Minister Shehbaz Sharif during a meeting he chaired at the PM House to review how to increase investment and capacity of federal government ministries. According to Kearney’s website, it is a leading global management consulting firm with over 5,700 people working in more than 40 countries. During the meeting, it was informed that the Public-Private Partnership Authority had hired Kearney to hire experts on increasing investment and enhancing the capacity of federal ministries. The meeting was informed…
Author: Hasnain Abid Khanzada
LAHORE: The International Cricket Council’s (ICC) Board and Annual General Meeting convened in Colombo on Monday, where discussions on next year’s ICC Champions Trophy were notably absent from the agenda. Contrary to the speculation circulating in sections of the Pakistan media, which suggested that approvals for the budget of the Champions Trophy, to be hosted by Pakistan next year, would be granted during the meeting, an ICC spokesperson clarified to Dawn that no such matters were tabled. “Champions Trophy was not on the agenda, and we do not comment on commercial or budgetary matters,” the official responded when reached for comment by Dawn. The Champions…
ISLAMABAD: Finance Minister Muhammad Aurangzeb briefed officials of a global rating agency on Monday about Pakistan’s economy and the successful agreement with the International Monetary Fund (IMF) to stabilise macroeconomic indicators. A virtual meeting via Zoom was held five days after the Business Monitor International (BMI), a subsidiary of Fitch credit ratings firm, released its detailed analysis of macroeconomic and political variables to provide insight into emerging trends in Pakistan. Fitch forecast that the PMLN-led coalition government would remain in office for 18 months while implementing all IMF-mandated reforms. However, the rating agency cautioned that political turbulence could impact the country’s economy.…
PARIS: President Emmanuel Macron said on Monday that France was ready to host the Paris Olympics as he visited the Athletes’ Village four days before the Games begin. “We are ready and we will be ready throughout the Games,” Macron said. “We have been working on these Games for years now and we are at the start of a decisive week which on Friday will see the opening ceremony and then the Olympiad which will be held in Paris, 100 years since the last one.” He added: “This is the fruit of an immense amount of work which has profoundly changed the…
KARACHI: The financial market is abuzz with speculation as the State Bank prepares to announce its monetary policy by the end of this month, with researchers, analysts and bankers widely anticipating a rate cut, though opinions vary on the extent of the reduction. Given June’s inflation rate of 12.6 per cent, significantly lower than the prevailing interest rate of 20.5pc, the market expects a substantial cut. However, a survey conducted by the brokerage house Arif Habib Limited (AHL) reveals differing expectations among stakeholders, with most expecting a cut of 100 basis points (bps). “Our poll suggests that 55.7pc of respondents…
KARACHI: The Banking Mohtasib has granted monetary relief of Rs681 million to the customers by disposing of 12,568 complaints during the first half of 2024, said a press release issued on Monday. During the same period last year, relief of approximately Rs539.7m was provided to the banking customers by disposing of over 12,000 complaints. During the current year, about 96 per cent complaints were resolved amicably while only 4pc complaints were required resolution through hearings. Despite new measures announced by the State Bank, there was not let-up in the number of complaints being lodged against commercial banks, it added.
LAHORE: The flour milling industry has decided to normalise its operations after reaching an agreement with the federal government over the issue of withholding tax (WHT) mechanism, which had been announced in the federal budget. During negotiations between the federal government and the Pakistan Flour Mills Association (PFMA), the two sides agreed that Section 153-A of the Income Tax Act would not apply to flour mills and instead they would sell flour under a commission system, said PFMA chairman Asim Raza in a statement after a meeting with Finance Minister Mohammad Aurangzeb and Minister of State for Finance Ali Pervaiz…
NEW DELHI: India’s Supreme Court on Monday stayed directives by authorities in Uttar Pradesh and Uttarakhand requiring eateries along the Kanwar Yatra pilgrimage route to display their owners’ names outside the establishments, The Scroll news portal said. The bench of Justices Hrishikesh Roy and SVN Bhatti passed the interim order while issuing notice on a batch of petitions challenging the directives. The court, however, said that the eateries must display information about the type of food they are serving. On July 17, SSP Muzaffarnagar directed the eateries along the Hindu pilgrims’ route to display the owners’ names. The direction was extended statewide on…
MADRID: Spanish Prime Minister Pedro Sanchez will testify on July 30 in a preliminary corruption inquiry into his wife Begona Gomez’s business ties, a Madrid court said on Monday, an issue that caused him to consider resigning three months ago. The investigation over alleged corruption and influence peddling has infuriated Sanchez, who has characterised the allegations as an effort to undermine him and his left-wing government. Judge Juan Carlos Peinado will hear Sanchez as a “witness” at his official residence at 11am on July 30, a court statement said. He will be questioned over suspected influence peddling by his wife,…
GENEVA: Political decisions taken this year will determine whether a target to end AIDS as a public health threat by 2030 can be reached, the United Nations said on Monday. Figures from 2023 show a drop in new infections and fatalities and improvement in access to treatment for HIV-positive patient. But while those figures look positive, the UNAIDS agency warned that the progress remained fragile. “Decisions leaders make this year will determine whether (or not) countries can achieve the 2030 target of ending AIDS as a public health threat and ensure progress beyond 2030,” the report said. In the over…
