Author: dailybalochistantimes.com

Karachi: Commissioner Karachi Syed Hassan Naqvi chaired meeting regarding arrangements for the Eid Milad-un-Nabi (PBUH) celebrations. Religious scholars attended the meeting and briefed the Commissioner on the details of the processions.

The Commissioner said that Eid Milad-un-Nabi (PBUH) would be observed in Karachi with deep reverence, respect, and religious fervor. He directed all Deputy Commissioners and relevant agencies to maintain close coordination with religious scholars and organizers, and to provide all possible cooperation and assistance.

It was decided in a meeting that solid waste management board will make special arrangements for the cleanliness in the city specially at the route of processions and in the surroundings of mosques.

Commissioner directed the concerned officers to ensure the provision of civic amenities, as well as fool proof security and better traffic management measures.

During the meeting, Deputy Commissioners and representatives of relevant departments provided the Commissioner with a detailed briefing on the arrangements.

Participants included Deputy Commissioners, DIG Traffic Pir Muhammad Shah, Managing Director of the Water Corporation Ahmed Ali Siddiqui, Municipal Commissioner of the Metropolitan Corporation Abrar Jaffer, Municipal Commissioners from Town Municipal Administrations, officials from Solid Waste Management Board and representatives from K-Electric (who joined via video link).

It was decided to make special arrangements for water supply at procession routes and at venues where religious gatherings are held in mosques.

Commissioner asked the SWMMB to ensure cleanliness along procession routes, at venues for Eid Milad-un-Nabi (PBUH), and at mosques.

The religious scholars, and organizers who attended among others by Sarwat Ijaz Qadri, Maulana Akbar Dars, Maulana Ashraf Gurmani, Yaqoob Attari, and Dr. Jameel Rathore.

Karachi: Prof. Dr. Abdul Majeed Khan of the Federal Urdu University of Arts, Science and Technology (FUUAST) has been appointed as the Dean, Faculty of Science, in recognition of his valuable academic, research and administrative services.

Prof. Dr. Abdul Majeed Khan has been associated with the Federal Urdu University, Karachi, for the past 22 years. He has supervised numerous students at the BS, MS, MPhil and PhD levels and has published more than 60 research papers in national and international scientific journals.

Karachi: President of the SITE Association of Industry (SAI) Abdul Rehman Fudda, on Friday urged the government to introduce immediate relief measures for the industrial sector, as rising production costs, expensive energy and policy uncertainty are putting the survival of industries at serious risk.

In a statement, SAI president said a strong industrial base is indispensable for boosting exports, creating employment, attracting investment and ensuring sustainable economic growth. He cautioned that unless the challenges confronting manufacturers are addressed without delay, Pakistan’s economic recovery could lose momentum while fresh domestic and foreign investment may continue to decline.

He noted that escalating electricity and gas tariffs, increasing production costs, high financing expenses could undermined industrial activity. Despite these challenges, he said, the business community continues to keep the wheels of the economy moving.

The SITE chief demanded of the government to ensure the supply of energy at competitive tariffs, simplify the tax regime, expedite the payment of pending refunds, improve the ease of doing business and introduce investor-friendly policies. Such measures, he said, are essential to enable Pakistani manufacturers to compete effectively in international markets and strengthen the country’s export performance.

Fudda stressed that Pakistan’s industrial sector possesses enormous untapped potential, but this can only be realised through policy continuity, meaningful consultation with the private sector and timely pro-industry decisions.

He reaffirmed the industrial community’s commitment to supporting economic stability and national development.

Karachi: The State Bank of Pakistan (SBP) injected Rs 3, 276. 6 billion through Reverse Repo Purchase and Shariah Compliant Mudarabah based Open Market Operations (OMO) on Friday to maintain liquidity in the market.

The central bank conducted the Open Market Operation, Reverse Repo Purchase (Injection) for 10 and 14-day tenors on August 07, 2026, and injected Rs 2, 656. 6 billion against 23 bids while other Rs 620 billion were injected through Shariah Compliant Mudarabah based OMO.

The central bank, for the Reverse Repo Purchase of 14-day tenor, received 17 bids cumulatively offering Rs 2, 965. 65 billion at the rate of return ranging between 11. 51 to 11. 56%. The SBP accepted Rs 2, 500 billion against 17 quotes at 11. 51% rate of return. The total amount offered at 11. 51% was Rs 1, 577 billion, out of which SBP accepted Rs 1, 111. 35 billion on a pro-rata basis.

Moreover, the SBP also received 6 bids for the 10-day tenor, cumulatively offering Rs 156. 6 billion at the rate of return ranging between 11. 54% to 11. 56%. The SBP accepted all the 5 quotes with the entire amount at 11. 54% rate of return.

Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 10 and 14-day tenors. The central bank received 6 quotes for the 10-day tenor offering Rs 170 billion at rate of return ranging between 11. 55 to 11. 58%. SBP accepted the entire amount against all the 6 bids at 11. 55% rate of return.

The central bank also received 4 bids for the 14-day tenor offering Rs 487 billion at rate of return ranging between 11. 52% to 11. 56%. SBP accepted Rs 450 billion at 11. 52% rate of return. The total amount offered at 11. 52% was Rs 385 billion, out of which SBP accepted Rs 348 billion on a pro-rata basis.

Karachi: Adviser to Finance Minister, Khurrum Shahzad, has said that Pakistan has become a lead player of Global South and it has not only done the work of peacaking in recent war but also in the defense area. ‘We have seen a lot of progress. ‘

Addressing the Future of Finance Summit 2026 at a local hotel, the Adviser to Finance Minister said that in spite of challenges inflation remained manageable, interest rates remained low and taxes were reduced. He said that our economic size has become 4. 5 billion dollars. Per capita income is around 1900 which is reasonable but we have to work a lot.

Shahzad said we talk about investment. He said that Pakistan’s privatization program is going on and three discos, the power distribution companies, are being taken towards privatization. He said that 12 investors have received interest in only FESCO.

Adviser to Finance Minister, Khurrum Shahzad speaking about the arrival of Gen Z in the stock market said that it is a big thing. He said that if I talk about GDP, we are at 3. 7 percent this year. He also shed light on economic priorities and financial innovation.

Deputy Auditor General (Policy) AGP Office, Ahmer Elahi focused on perspectives on financial governance, transparency, accountability and effective public sector financial management. He also highlighted the importance of strong institutions in shaping a resilient and sustainable financial future.

CEO, Pakistan Stock Exchange Limited, Farrukh H. Sabzwari in his speech at the future of finance summit 2026 shared valuable perspectives on ‘Capital Markets for Sustainable Value Creation: Innovation, Inclusion and Investor Confidence. ‘

He highlighted the role of strong, innovative and inclusive capital markets in driving sustainable growth, strengthening investor confidence and shaping the future of finance.