Business

SBP offers interest-free loans to women for starting business

Published

10 months ago

Farwa

Central bank’s decision to back those starting their own businesses.
SBP official says women can support families via this opportunity.
Bank will provide interest-free loans up to Rs0.5 million.

DERA ISMAIL KHAN: In its bid to ensure economic stability and female participation in the workforce, the State Bank of Pakistan (SBP) is offering interest-free loans to unemployed women to start their large-scale businesses.

The central bank’s Dera Ismail Khan Deputy Chief Manager Fazal Muqeem made the announcement while addressing participants of a seminar ‘Women bankability and banking on equality’ at the Government Polytechnic Institute for Women in Dera Ismail Khan on Sunday.

Women, Muqeem said, will be able to support their families by starting their own businesses. He said the current wave of inflation has impacted the entire society and social strata. The SBP official added that it gets difficult for the poor to manage their everyday expenses due to their income resources.

The employment opportunities are also limited in the country, therefore starting of own business is the only way to handle such a situation, he added. He informed that the prime minister introduced different policies with the support of the central bank to make unemployed women productive citizens.

Under these policies, the bank accounts of unemployed women were being opened along with men on an equal basis so that they could be provided with interest-free loans up to Rs0.5 million.

Addressing the seminar, Assistant Director Muhammad Zubair said that today’s era is of digital mobile app and citizens must take benefit from this facility. He said the citizens should become income tax filers which would make them avoid many taxes.

On this occasion, GPI for Women Principal Sara Khan thanked the guests from the SBP. She said their institution was working to make its students skillful so that they could become self-sufficient and useful citizens of society.

She said many women would benefit from this SBP’s policy in the future. She expressed the hope that such type of useful seminars would be organised in the future so that poor and eligible women of DIK could benefit.

On this occasion, GPI for women Principal Sarah Khan, SBP Dera Ismail Khan Assistant Chief Manager Muhammad Amir Ejaz, Assistant Director Muhammad Zubair, Rizwanullah Shah, GPI (women) Placement Officer Zafar Awan, a good number of teachers and female students were present on the occasion.

Business

An investigation was “launched” into PTA’s inability to get Rs. 78 billion back from Telcos

Published

1 day ago

Farwa

The PTA has reportedly been instructed to reply to NAB by July 29. According to the enquiry, the national exchequer has suffered losses as a result of the delay in collecting dues.

The PTA has been asked to provide NAB with information about any pertinent records, court proceedings, and overdue bills. The NAB Karachi has summoned the PTA officials to appear with all pertinent documentation.

All of the principle sum has to be paid by the LDI firms, according to sources. But due to judicial stay orders, the collection of dues has been impeded.

These sources further state that a steering group has been established by the Ministry of IT to supervise the issue of dues recovery.

In a previous event, the tariffs levied on importing cell phones from outside were clarified by the Pakistan Telecommunication Authority (PTA).

Contrary to what some internet reports claim, PTA clarified in response to recent news regarding the tariffs on mobile phone imports that there hasn’t been a formal decision to remove these levies in Pakistan.

the PTA.Pakistanis living abroad will be the only ones free from these levies, according to the PTA. A SIM card can be inserted and the phone restarted to temporarily register a device for non-PTA mobile subscribers.

Business

Weekly inflation in Pakistan increased by 0.17 percent.

Published

1 day ago

Farwa

The SPI for the week under review in the aforementioned group was reported at 321.95 points, as opposed to 321.40 points during the previous week, according to the PBS statistics.

The SPI for the combined consumption group saw a 20.09 percent increase in the week under review compared to the same week the previous year.

The weekly SPI includes 51 necessary items for every spending group and 17 urban areas, with a base year of 2015–16 = 100.

The SPI for the lowest consumption category, which is up to Rs 17,732, grew by 0.08 percent from 311.97 points to 312.22 points this past week.

0.18 percent,The index of consumption for the lowest consumption groups, which are Rs 17,732-22,888, Rs 22,889-29,517, Rs 29,518-44,175 and above Rs 44,175; increased by 0.13 percent, 0.15 percent, 0.18 and 0.19 percent, respectively.

Nineteen (37.25%) of the fifty-one commodities had price increases over the week, eight (15.69%) had price decreases, and twenty-four (47.06%) had unchanged pricing.

On a weekly basis, the following commodities saw significant price decreases: tomatoes (9.19%), onions (2.14%), LPG (1.04%), bananas (0.53%), wheat flour (0.35%), potatoes (0.17%), pulse masoor (0.16%), and bread (0.05%).

Chicken (4.80%), garlic (2.01%), pulse gramme (1.87%), eggs (1.71%), beef (0.93%), gur (0.89%), pulse moong (0.84%), fresh milk (0.45%), firewood (0.23%), and cigarettes (0.12%) were among the items whose average prices increased significantly week over week.

The commodities that saw a year-over-year decline were: wheat flour (31.75%); cooking oil (13.44%); vegetable ghee 2.5 kg (10.42%); vegetable ghee 1 kg (9.85%); mustard oil (8.33%); eggs (5.82%); rice basmati broken (4.15%); and tea package (2.52%).

Gas prices for Q1 (570.00%), onions (96.01%), pulse gramme (40.39%), powered milk (39.11%), garlic (34.61%), pulse moong (29.77%), men’s sandals (25.01%), beef (23.52%), salt powder (23.28%), pulse mash (22.50%), and energy saver (17.96%) were among the commodities whose average prices increased year over year.

Business

The price of gold has drastically dropped in Pakistan.

Published

2 days ago

Farwa

As per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the cost of 24-karat gold per tola decreased by Rs 2,300, standing at Rs 250,500.

A kilogramme of 24-karat gold costing Rs1,972 less at the local market, making it worth Rs2114,763. Ten grammes of 22-karat gold had a price decrease to Rs196,866 as well.

After losing a significant $43 during the day, the rate per ounce of gold on the international market also decreased. It currently stands at $2,370.

On Thursday, the price of 24-karat silver also experienced a decline, falling by Rs60 to settle at Rs2,860 petal.