The financial crisis is so severe that the government is considering three options to address it. Among these options, one proposal suggests a 35% increase in government employees’ salaries, which could potentially lead to monthly savings of around 9 billion Pakistani Rupees. This, however, comes at the expense of a substantial reduction in public sector employees’ take-home pay.
Category: Pakistan
Pakistan’s IT Companies Allowed to Keep Dollars; Collaboration with HEC for IT Graduates Testing
Minister Haque stated that the IT sector has been taking several initiatives in the past two months, working in collaboration with the State Bank of Pakistan (SBP) and the Higher Education Commission (HEC). These initiatives aim to enhance the IT industry in Pakistan and promote innovation and investment.
President Alvi Addresses Key Issues and Future Outlook in Pakistan
President Alvi addressed the issue of “level playing field” in the upcoming elections. He supported the idea of creating a transparent and fair electoral environment and stated that all political parties should have an equal opportunity to participate.
Gold prices in Pakistan: 24-karat reaches Rs210,000 per tola.
On Thursday, the price for 24-karat gold per tola in Pakistan reached Rs210,000, providing an opportunity for gold enthusiasts to make significant investments. Those interested […]
Teenage American inventor develops affordable “Skin cancer treating soap”
In a remarkable feat of innovation, 14-year-old American inventor Heman Bekele has created an affordable soap that holds the potential to contribute to the fight […]
Audacious bank robbery in Karachi’s Shadman town nets over Rs8 million.
In a daring heist that unfolded in Karachi’s Shadman Town neighborhood, multiple armed robbers looted a private bank, making off with more than Rs8 million […]
Pakistan International Airlines (PIA) Navigates Financial Crisis with Crucial Negotiations
It has been reported that the government’s guarantee has raised hopes of securing a substantial bailout of PKR 7.5 billion from various banks. A final decision on the government’s loans from three banks is expected within the next two to three days.
Khyber Pakhtunkhwa Government Takes Drastic Measures to Tackle Financial Crisis
This decision was reached during a meeting at the Finance Department where the KP government evaluated the severity of the financial crisis. To save the province from defaulting on its financial obligations, various options were explored, and it was decided to implement three key measures to regain control over the finances.
Police arrest two Afghan nationals after shootout in Peshawar.
In Peshawar, Pakistani police have reported the arrest of two Afghan nationals following a shootout. According to law enforcement officials, these individuals are suspected of […]