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Federal govt decides to revise weekly offs for employees

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  • Federal govt decides to restore Saturday as weekly off.
  • Summary sent to federal cabinet for approval.
  • Federal cabinet to meet tomorrow for final nod.

ISLAMABAD: The federal government has decided to revise the weekly offs of government employees falling under its ambit, sources told Geo News Monday.

Sources said a summary has been sent to the cabinet for restoring Saturday as a weekly off. They added that the federal cabinet will meet tomorrow and give the final nod.

When Prime Minister Shehbaz Sharif had assumed office on April 12, he had ordered the abolishment of Saturday as a weekly off. He had directed the government employees to work six days a week.

Earlier in May, the government also revised the timings of offices. The government offices were ordered to operate from 8am to 3pm from Monday to Thursday and Saturday, with a prayer break from 1pm to 1:30pm. On Fridays, the timings were 8am to 1pm.

Previously, government offices operated from 9am to 5pm. 

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ADB Adjusts Pakistan’s Economic Growth Forecast to 3% for 2024-25, Indicating Positive Economic Trajectory

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Pakistan’s economic growth is projected to be three percent in the fiscal year 2025, according to the Asian Development Bank’s revised prediction, which is an upward revision from the previous forecast.

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The PSX 100 index crosses 113,000 points, marking a historic milestone.

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The historic 113,213-point milestone has been surpassed for the first time by the Pakistan Stock Exchange (PSX), setting a new record.

The stock market experienced a spectacular start to the trading session, rising 1,400 points in just 30 minutes. At an all-time high of 112,277 points, the KSE-100 Index jumped 1,467 points.

With the index rising 1,200 points in just 15 minutes after the market began, the PSX had already reached another milestone. At 112,041 points, the KSE-100 Index had risen 1,231 points.

In another example of record-breaking performance, the PSX saw a 1,000-point spike in just 10 minutes. The KSE-100 Index rose 1,100 points to 111,911 points, regaining the 111,000-point milestone and hitting its highest level ever.

The PSX’s exceptional performance establishes it as a crucial gauge of economic optimism by highlighting robust investor confidence and substantial market momentum.

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ADB authorizes a $200 million loan for Pakistan to upgrade its power distribution system.

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A $200 million loan from the Asian Development Bank (ADB) has been authorized to update Pakistan’s power distribution system.

The project intends to improve data management and communication networks and deploy more than 300,000 smart metering equipment.

The project will involve improvements to voltage levels at SEPCO grid stations and monitoring systems for 15,500 transformers. LESCO plans to build or upgrade 25 grid stations with cutting-edge machinery. The initiative will reinforce income security, enhance demand management, and lower power losses, all of which will help to address

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