Global tech giant Google on Thursday launched an initiative to produce half a million Chromebooks in Pakistan, marking the occasion by presenting the first device to Prime Minister Shehbaz Sharif. Google Asia Pacific (APAC) President Scott Beaumont presented the locally manufactured Chromebook to PM Shehbaz at a ceremony in Islamabad. The prime minister, addressing the ceremony, appreciated
The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $33 million during the week ending Aug 20. On Thursday, the central bank announced that the SBP reserves had risen to $9.436 billion. However, it didn’t disclose the source of this inflow. During the week, the country’s overall reserves increased to $14.739bn, including $5.303bn held by commercial banks.
The International Monetary Fund (IMF) has asked Pakistan to review its Public Sector Development Programme (PSDP) for the current fiscal and stop financing provincial projects through federal resources. Therefore, the government has decided that funds for unimportant projects would not be released despite allocations in the budget, the secretary to planning and development Awais Manzur Sumra in
Siddiqsons Tin Plate Ltd (STPL) has decided to close its factory due to heavy taxation, low sales, and a workers’ strike. The company informed its shareholders through the Pakistan Stock Exchange on Thursday that it has initiated the formal process to shut down its plant located in Balochistan. “As per the decision of the board of directors recorded on Sept 4, the company has initiated the f
Pakistan’s IT services exports have grown 2.7 times since 2014, making up 35 per cent of all service-sector exports in 2023, according to a new report. The report titled ‘Agay Barho: Empowering Pakistan’s Digital Economy’ was unveiled at an event attended by the prime minister and the IT minister on Thursday. The report, part of the ‘Agay Barho’ initiative by Google, said Pakistan has vast p