Category: News & Announcement

Saudi Arabia’s Hajj and Umrah Ministry has announced that the Haram in Makkah and Medina will soon be opened for worshippers. Haramain Sharifain shared a post on Facebook & Twitter indicating that both harams will be accessible to worshippers following a committement to relevant procedures to mitigate the spread of COVID-19. Both harams are currently closed to worshippers. Some of the regulations worshippers must abide by when both Harams are opened include bringing their own musallah’s, as nobody will be allowed to enter without one, bringing their own Qur’ans and…

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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the prime minister’s relief package of Rs50.69 billion for small and medium enterprises (SMEs) through pre-paid electricity and credit loss subsidy of Rs30 billion for the risk sharing facility for the State Bank of Pakistan’s (SBP’s) refinance scheme to support employment and prevent lay-off of workers. The meeting of the ECC meeting chaired by Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh approved “Chota Karobar- o-Sannat Imadadi package”. Sources said that Finance Division would make available the…

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KARACHI:  The share of oil and petroleum products in the total import bill shrank massively to one-fifth in March 2020 as refineries shut down temporarily due to full reservoirs and demand dropped significantly under the nationwide lockdown imposed to contain the coronavirus pandemic. Earlier, the share of oil and petroleum products in total imports had been one-fourth in first eight months (July-February) of the current fiscal year ending June 30, 2020, according to the Pakistan Bureau of Statistics (PBS). The import of crude oil – the raw material for refineries…

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Karachi, 27th April 2020: In its effort to respond to the COVID-19 pandemic and build capacity in the national healthcare system, JS Bank and its partners today donated Rs. 10 Million to the Aga Khan Health Service, Pakistan. In addition, the Bank donated another Rs. 7.35 Million to Indus Hospital for Personal Protective Equipment (PPE). The donation was made under the Rs 110 Million fund the Bank has deployed with its partners to counter the impact of the Coronavirus (COVID-19) in Pakistan. Addressing immediate and long-term challenges, the fund’s three-tiered…

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ISLAMABAD: According to a plan submitted to the National Electric Power Regulatory Authority (Nepra), the share of cheaper hydropower in the national power mix is likely to decline to about 20 per cent from 30pc at present by the fiscal year 2040 due to the negligible role played by private sector as the government attempts to renegotiate terms of contracts with thermal power producers. Because of low economic growth forecast for the coming years, the government has slashed estimates for electricity demand by 2040 to 390,240 gigawatt hours (GwH) from…

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