Category: Islamabad

Islamabad: Minister for Economic Affairs, Ahad Cheema, Monday welcomed a delegation from the World Bank Group, comprising Executive Directors and Alternate Executive Directors.

During the meeting, Cheema emphasized that privatizing State-Owned Enterprises (SOEs), particularly DISCOS, is a top priority for Pakistan.

He expressed appreciation for the World Bank's third high-level delegation visit in a short span, seeing it as a testament to the institution's confidence in Pakistan's ongoing economic reforms and their strong partnership. This development highlights Pakistan's efforts to strengthen its economic ties with international organizations like the World Bank, said a press release issued here on Monday.

He added that this visit aims to enhance understanding of Pakistan's economic, political, social, and governance landscape while exploring opportunities for future development support under the newly launched Country Partnership Framework (CPF) for 2026-2035.

Minister Cheema outlined the government's priority to privatize SOEs, recognizing that approximately one-third of these SOEs are strategic assets.

He reiterated the government's goal to privatize the remaining SOEs in phases. In the first phase, the government is focusing on the privatization of power distribution companies (DISCOS), and in the second phase, Pakistan International

Airlines (PIA) and other SOEs are to be privatized. He shared that the government aims to privatize up to 50 SOEs over the next 3-4 years.

The minister also emphasized the critical challenges currently faced by Pakistan's power sector, including high tariffs for consumers, significant losses in line efficiency, and the ongoing efforts to achieve full cost recovery for the sector.

He acknowledged that renewable energy resources and addressing line losses were among the main areas of focus for Pakistan's energy strategy.

Highlighting the ongoing digitalization efforts, Minister Cheema stated that Pakistan is making significant strides in the digital transformation of its economy.

He mentioned that comprehensive research and review of digitalization models had been completed, and the country is now advancing towards end-to-end digitalization of its institutions.

In response to a question regarding youth employment and women's empowerment, Minister Cheema emphasized that the

government is making substantial progress in both areas.

Technical training programs for youth and women empowerment initiatives are running successfully, with adequate budgetary allocations to ensure their expansion.

He added that training programs related to IT are going well, and we are one of the largest countries having trained freelancers.

The minister also provided an update on Pakistan's economic stability, pointing out that circular debt levels are low, and the currency is recovering thanks to the government's effective measures.

He highlighted that Pakistan's economy is on a positive trajectory with increased Public Sector Development Program (PSDP) funding aimed at strengthening infrastructure and social development projects.

In their remarks, WB delegates commended the government of Pakistan for its commitment to reform and the remarkable progress made in addressing critical challenges.

They expressed that World Bank's strong support for Pakistan's new CPF and affirmed that the World Bank remains steadfast in its partnership with Pakistan to help achieve its development goals.

They also acknowledged the government's comprehensive reform agenda and highlighted the importance of aligning efforts to address urgent needs such as climate change, governance, and gender equality.

Minister Cheema underlined the need to develop a comprehensive strategy to address the key implementation issues such as project preparation and readiness, procurements, land acquistion etc. to successfuly achieve the expected outcomes of the new CPF.

He expressed appreciation for the longstanding and unwavering support provided by the World Bank in Pakistan's development journey.

He highlighted the World Bank's instrumental role in Pakistan's socio-economic progress, particularly in the aftermath of

the COVID-19 pandemic and the catastrophic 2022 floods.

Islamabad: The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing, 341.76 more points, a negative change of 0.30 percent, closing at 111,743.53 points as compared to 112,085.30 points on the last trading day.

A total of 511,194,686 shares were traded during the day as compared to 457,049,928 shares the previous trading day, whereas the price of shares stood at Rs19.635 billion against Rs23.215 billion on the last trading day.

As many as 435 companies transacted their shares in the stock market, 130 of them recorded gains and 235 sustained losses, whereas the share price of 70 companies remained unchanged.

The three top trading companies were B.O. Punjab with 184,433,032 shares at Rs.12.17 per share, Power Cement with 38,642,821 shares at Rs.10.76 per share and WorldCall Telecom with 33,028,658 shares at Rs.1.47 per share.

Service Industries Limited witnessed a maximum increase of Rs.48.94 per share closing at Rs. 1,400.00 whereas runner-up was Sapphire Textile Mills Limited with Rs.43.00 rise in its share price to close at Rs.1,243.00.

Nestle Pakistan Limited witnessed a maximum decrease of Rs.123.09 per share price, closing at Rs.7,250.30, whereas the runner-up was Rafhan Maize Products Company Limited with Rs.106.53 decline in its per share price to Rs.9,389.33.

Islamabad: Tamasha, Pakistan's leading digital entertainment platform by Jazz, was set to bring ICC Champions Trophy 2025 to cricket fans across the country with high-definition live streaming.

This marks a historic moment as Pakistan hosts an official ICC event for the first time in 29 years, adding to the excitement of the tournament, said a news release.

As the defending champions of the ICC Champions Trophy 2017, Pakistan enters the competition with high stakes, further fueling anticipation among cricket enthusiasts.

Tamasha will serve as the digital flag-bearer of the tournament, ensuring fans never miss a moment of the action, no matter where they are.

Aamer Ejaz, President Digital Platforms at Jazz, commented on the development, stating, 'The ICC Champions Trophy 2025 is a historic moment for Pakistan, bringing an official ICC event to our home ground after three decades. With Pakistan defending its Champions Trophy title, the stakes are higher than ever, making this tournament even more thrilling. Through Tamasha, we are not only delivering seamless live streaming but also creating an immersive experience that brings fans closer to the action like never before.'

Beyond live HD streaming, Tamasha is redefining the cricket-watching experience by integrating interactive features such as the SportsX fantasy league, real-time viewer engagement, and trivia challenges with exciting prizes. This innovative approach will bring fans closer to the game, making them an active part of the tournament.

The ICC Champions Trophy 2025 is set to begin on February 19, with Pakistan taking on New Zealand in the opening match. One of the most anticipated clashes of the tournament-the showdown between Pakistan and India-is scheduled for February 23, promising an electrifying contest for cricket fans worldwide. With Tamasha, cricket lovers can experience every thrilling moment of the ICC Champions Trophy 2025, streamed seamlessly on their mobile screens.

With over 16 million monthly active users, Tamasha is Pakistan's premier digital entertainment platform, offering live sports, movies, TV shows, and more. In 2024, it delivered 12.5 billion minutes of content, hosted 250 days of live action, and expanded its on-demand library to 3,900+ hours. A record 9 million users tuned in for a single match, driving 70% year-on-year growth and 34 million interactions. With 750 million+ ad impressions, Tamasha continues to redefine streaming in Pakistan, setting the stage for an even bigger 2025.

Islamabad: Pakistani cueists Muhammad Sajjad, Muhammad Asif and Muhammad Sajjad have qualified for the knockout round of the ACBS Asian Men Snooker Championship 2025 at Doha, Qatar.

According to details received here, on day 3rd matches, Sajjad beat Ayman Alamri of Saudi Arabia 4-1 (67-57, 68-33, 73(56)-7, 70-83, 73-46) while Asif outplayed Siyavosh Mozayani of Iran 4-1 (70(57)-31, 12-55(53), 76(75)-39, 85-36, 76(76)-0) and Sajjad defeated Fung Kwok Wai of Hong Kong 4-2 (101(65)-25, 75(58)-0, 79(63)-30, 50-75, 48-77(71), 63-52).

Meanwhile Mohamed Shehab of United Arab Emirates downed Pakistan's Shahid Aftab 4-2 (124(102)-6, 57-8, 43-67(56), 35-84, 67(51)-36, 80-18).

Islamabad: Minister of State for Information Technology and Telecommunication, Shaza Fatima Khawaja said on Monday that Pakistan set to become a major player in the digital landscape with enhanced internet connectivity and the launch of 5G technology.

Speaking at the event titled "Shaping the Future of Connectivity Beyond 5G," she announced the government's target to increase IT exports from $3.2 billion to $15 billion.

She said that 5G deployment will significantly contribute to the country's GDP growth, while addressing existing internet connectivity challenges. She assured that spectrum allocation is expected by May or June, which will lead to improved services.

She said that Pakistan is currently assessing investment and cost estimates for the 5G rollout, studying global best practices to ensure a smooth and cost-effective deployment.

She also revealed that the world's largest optical fiber cable has now reached Pakistan and will soon be operational, further enhancing digital infrastructure.

Pakistan is working on a project to connect with Central Asia through the Wakhan border, strengthening its role as a regional connectivity hub.

The minister noted that over half of Pakistan operates on a 274 MHz spectrum, underscoring the need for expansion to meet future digital demands.

She reaffirmed the government's commitment to achieving a $25 billion IT sector target through better connectivity and strategic investments.

Reflecting on the country's economic turnaround, Fatima Khawaja highlighted that two years ago, Pakistan was on the verge of default, but today, the economy has stabilized, markets are steady, inflation is declining, and GDP is on an upward trajectory.

Islamabad: The first session of the 72nd meeting of the Board of Advanced Studies and Research (BASR) was held on Monday at Allama Iqbal Open University(AIOU).

The session was conducted and facilitated by the Director of BASR, Professor Dr. Irshad Ahmad Arshad.

A report on the implementation of previous decisions and the agenda for the current meeting were presented.

The meeting was attended by the university's deans, professors, subject specialists, and PhD scholars.

During the first session, 15 scholars from the Faculty of Arabic and Islamic Studies, including the Department of Quran and Tafseer, Shariah, and Islamic Thought and Culture, presented their research papers.

The subject specialists meticulously reviewed the students' research topics, approved the presented papers, and suggested some modifications.

The board also agreed that students should complete their research following the approved format. Instructions were issued to ensure that research topics adhere to all academic requirements and align with the social and economic development needs of the modern era.

Additionally, the board emphasized that expert guidance and experience play a crucial role in improving students' research work. It was advised that research frameworks should use simple and easily understandable language.

In the meeting, the research topics of 41 MPhil students were approved based on the recommendations of the Research Proposal Committee.