Pakistan Likely to Receive IMF Loan Tranche in Early May

Pakistan Likely to Receive IMF Loan Tranche in Early May

The IMF Executive Board will meet on May 9 to decide on the disbursement of a $1.1 billion loan tranche to Pakistan, following a...
Herald Pakistan

The Herald Pakistan to Shut Down?

The Herald, a publication of the Dawn Media Group, has been in circulation since the early 1970's. It will be rolling out its commemorate 50th-year-anniversary...
Shutter-Down Strike by Rawalpindi Traders on January 7

Shutter-Down Strike by Rawalpindi Traders on January 7

Traders in Rawalpindi’s Saddar area are set to hold a shutter-down strike and rally on Tuesday, January 7, in opposition to the pedestrianisation of...
Top 5 Female Entrepreneurs in Pakistan

Top 5 Female Entrepreneurs in Pakistan

In the past decade, Pakistan has seen a surge of strong and determined women who are making their mark in the entrepreneurial landscape. Today,...

Pakistani Celebrities Celebrate Arshad Nadeem Historic Olympic Gold

Pakistan is buzzing with excitement as celebrities and fans alike celebrate the historic achievement of javelin thrower Arshad Nadeem. On Thursday night, Arshad made...

Pakistani Stars Celebrating Independence Day as Pakistan Turns 71

The entire country is lit with Independence day celebrations. It's like you can smell independence, it is in the air. People have been posting their...
Amazon Pakistan

Amazon Is Finally Improving Its Web Services In Pakistan

The billion-dollar corporate giant Amazon is revamping itself in Pakistan. Are you ready to be able to be using their services? Keep reading to...
Moderate Earthquake Hits Quetta and Adjoining Areas

Moderate Earthquake Hits Quetta and Adjoining Areas

Quetta and other areas of Balochistan were hit by a moderate earthquake, causing brief panic among the residents. According to the Seismological Centre, the tremors...

Imposter Posing to be ‘Doctor’ Arrested from Karachi’s JPMC

While running an investigation, Karachi police successfully arrested a woman from Jinnah Postgraduate Medical College from the Gynecological Ward. The woman was allegedly posing as a...
mohammad hafeez

Pakistan’s Hafeez cleared to bowl after remodelling action

The International Cricket Council (ICC) on Tuesday cleared Pakistan all-rounder Mohammad Hafeez to return to bowling at international level after remodelling his action. The 37-year-old...

Karachi Weather Update: Karachiites to Celebrate a Hot Eid & Dry Weekend

After the exhausting holy month of Ramzan, Karachi is all set to welcome the long Eid weekend and couldn't be happier! However, according to Pakistan...
Kids and Online Courses

6 Online Courses To Enroll Your Children In

It is important for a person to receive education. This does not apply to just studying inside school but outside it too. Any time...
untied nations

Karachi Goes to 68th United Nations Civil Society Conference at Salt Lake City

The School of Writing, a Karachi-based social enterprise has been invited to curate an exhibit of the work produced by the youth of Karachi...
Pakistani website hacked

Pakistani Government Website’s Security Compromised!

A Government of Pakistan's website has found to be compromised by Trustwave’s SpiderLabs Research team. The website tracking.dgip.gov.pk is a sub-domain of Directorate General of...
Volkswagen cars plant coming to Pak soon

Volkswagen Soon To Construct Its Manufacturing Plant In Pakistan

Where we heard about automotive brands coming to Pakistan, we also heard about Volkswagen. Now, this is a brand that has been in operation...
The government has assured the International Monetary Fund (IMF) that Pakistan International Airlines (PIA) will be sold by July. However, the fate of Roosevelt Hotel in New York remains undecided. The US government has prematurely terminated the $228 million lease agreement, which was supposed to last three years. This decision will result in a business loss of approximately $80 million. The IMF was informed that the Cabinet Committee on Privatisation (CCOP) will decide whether to sell the hotel or lease it under a joint agreement. Pakistan had leased the 1,025-room hotel to New York City’s Immigrant Housing Business in July 2023. The city government had been paying $210 per room for the third year, but now plans to end the agreement a year early. The CCOP previously expressed concerns that US immigration policies might affect the deal. Despite hiring financial advisors, including Jones Lang LaSalle Americas at a cost of Rs2.1 billion, the government has not finalized a privatisation plan. Read more: PIA Crash Survivor Shares Story of Resilience and Hope Regarding PIA, the Privatisation Ministry informed the IMF that the airline will be sold by July 2025. A previous privatisation attempt failed after a sole bidder offered only Rs10 billion against the Rs85 billion asking price. The government is currently assessing market interest before issuing an Expression of Interest (EOI) by the end of this month. Three bidders may participate, including two who previously withdrew due to tax and liability concerns. The IMF has agreed to relax those conditions, which may increase investor interest. The government also aims to privatise three power distribution companies—Faisalabad, Islamabad, and Gujranwala—by December. However, it has not yet decided whether to sell them together or separately. The UAE has expressed interest in acquiring First Women Bank Limited under a government-to-government agreement, with the deal expected by May. The government also plans to privatise Zarai Taraqiati Bank Limited (ZTBL) by November and sell the House Building Finance Company next month.

Pakistan Assures IMF of PIA Sale by July

The government has assured the International Monetary Fund (IMF) that Pakistan International Airlines (PIA) will be sold by July. However, the fate of Roosevelt...
Haseena Moin

Haseena Moin Receives “The Storyteller of Pakistan” – Lifetime Achievement Award

Islamabad, PK – 21 November 2020 – RINSTRA, Pakistan’s first short-form digital media platform for on-demand streaming and user-generated content celebrated 20 November as...

Sindh Food Authority Seals Chocolate Factory in Korangi!

A chocolate manufacturing factory in Korangi Industrial Area, Karachi was raided by the Sindh Food Authority (SFA). The authority found employees using harmful ingredients in...
Air Force new song

New Song Release By PAF Has Got Everyone Talking

There are some things with Pakistan that the people consider as the pride of their nation. The music industry in Pakistan is one that...
Army Chief Asim Munir Promoted to Rank of Field Marshal

Army Chief Asim Munir Promoted to Rank of Field Marshal

The federal cabinet on Tuesday approved the promotion of Chief of Army Staff (COAS) General Syed Asim Munir to the rank of Field Marshal. The...