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ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin has presided over the meeting of the National Price Monitoring Committee (NPMC) held at the Finance Division, ARY News reported on Monday. Secretary Finance briefed the meeting about the slight uptick in weekly SPI, which increased by 0.03 per cent during the week under review. Prices of 06 items witnessed a decline and 22 remained stable. The committee also reviewed the monthly inflation trend and noted that the CPI, which is 8.4% for July 2021 has declined by 1.3% as compared to the last month i.e. 9.7% in June 2021. The National Price Monitoring Committee also reviewed the prices of wheat, sugar, pulses, chicken and other essential food items in the country. The Secretary Ministry of National Food Security and Research updated the committee about the wheat procurement process and apprised that an order for the purchase of 220,000 tons of wheat has already been placed. While taking stock of the situation, the NPMC

ISLAMABAD: Prime Minister Imran Khan said on Monday the PTI government was bringing a revolution in the construction sector. Addressing the closing ceremony of three-day Interior, Construction, Electrical and Electronics Expo in Islamabad, the premier said the promotion of the construction sector would boost economic activities and wealth creation in the country.  He said the incumbent government started a house financing scheme for the low-income people to have their own houses. The low-cost housing scheme would give a boost to the construction industry, he added. PM Imran Khan announced that the government would soon launch Kamyab Pakistan Programme for uplift of the weaker segment of society. This programme envisages technical training for one member of a poor household, health card and interest free loans. He reiterated his government’s commitment to pull the people out of poverty. The prime minister said the export industry was being given incentives for its growth and weal

NEW YORK: Before COVID-19, Thru Shivakumar, co-founder and CEO of Cohesion, was already working on apps to convert office buildings into smart spaces, powered by technology that enables interaction with tenants through phones and computers. Since the pandemic began, however, she is learning that the smart buildings of the future are going to look different from the ones she was planning prior to 2020. Chicago-based Cohesion, which works with companies worldwide to create software for “intelligent” buildings, sees an increase in the number of people who would use a building smartphone app to track cleanliness, air quality and building security. Pre-pandemic, employees were more interested in amenities, such as restaurants and gyms. Shivakumar, 39, talked to Reuters about the workplace of the future. Edited excerpts are below. Q. How will offices change as they reopen? A. After every crisis, the pendulum doesn’t swing too far from the center. I don’t think that offices are gone and

ISLAMABAD: Pakistan’s exports grew by 17.3 per cent to $2.35 billion in the first month of the fiscal year 2021-22 i.e. July as compared to last year’s same period. This was stated by Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood. He tweeted: “During the first month of this financial year (July), our exports grew at 17.3% to USD 2.35 billion as compared to USD 2 billion in July 2020.” Also Read: FAWAD HOPEFUL PAKISTAN WILL START EXPORTING VENTILATORS THIS YEAR “These are the highest ever exports in the month of July,” the PM aide said, urging exporters to “move full speed ahead to make 2021-22 another record-breaking year for our exports”. Earlier, Prime Minister (PM) Imran Khan commended the efforts of the Federal Board of Revenue (FBR) for collecting the highest ever tax in the month of July. In his Tweet, PM Imran Khan said, the collection in the month of July remained Rs.410 bn which is the highest ever in the month of July – & around 22% abo

KARACHI: The rise of the United States (US) dollar in the interbank against the Pakistani rupee continued on Monday as it crossed the Rs163 mark, ARY NEWS reported. According to details, the US dollar was traded at Rs163.05 in the interbank after witnessing an increase of Rs0.62 on the first day after the weekend when it was traded at Rs162. Interbank closing #ExchangeRate for today: https://t.co/Vg2t57FTza pic.twitter.com/wa9rnT811h — SBP (@StateBank_Pak) July 30, 2021 Economic experts attributed the spike in the dollar value to strong demand saying imports and debt repayment were pushing the greenback’s price in the interbank market. The Pakistani rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April, 2021. Read More:  WORKERS’ REMITTANCES MAINTAIN ABOVE $2 BILLION LEVEL FOR 13TH MONTH IN JUNE The local unit rose by 6.2 percent or Rs10.51 against the US dollar in the

Pfizer Inc and Moderna Inc have raised the prices of their COVID-19 vaccines in their latest European Union supply contracts, the Financial Times reported on Sunday. The new price for the Pfizer shot was 19.50 euros ($23.15)against 15.50 euros previously, the newspaper said, citing portions of the contracts seen. The price of a Moderna vaccine was $25.50 a dose, the contracts show, up from about 19 euros in the first procurement deal but lower than the previously agreed $28.50 because the order had grown, the report said, citing one official close to the matter. Pfizer declined to comment on the contract with the European Commission, citing confidentiality. “Beyond the redacted contract(s) published by the EC, the content remains confidential and so we won’t be commenting,” the company said. Fauci says he expects no new US lockdowns despite surging Delta cases Moderna was not immediately available for comment to Reuters. The European Commission said on Tuesday that the EU is on c

ISLAMABAD: Pakistan has been ranked the most economical country to live in with a cost of living index 18.58 while Afghanistan 24.51; India 25.14; and Syria 25.31 trail respectively, ARY News reported on Sunday. As per the report on the cost of living index compiled by GoBankingRates Company, Pakistan is termed the cheapest country to live in. Several organisations in the past and at present as well, have used indicators and a bunch of statistics to ascertain the countries based on their affordability for those living and earning there. One of these companies is GoBankingRates and the company uses four metrics to determine which countries are the most affordable. The indicators used in the study include inflationary matrices including, rent index, local purchasing power index, consumer price index, groceries index and the information compiled, compared to the cost of living in New York City, one of the most expensive cities in the world. On the contrary, Cayman Islands with 141.64

KARACHI: Sindh government on Sunday assured traders of reopening business sectors whose workforce has received COVID vaccination from August 09, ARY NEWS reported. In a hurriedly called meeting with traders, Sindh Information Minister Nasir Hussain Shah said that they would allow businesses having vaccinated workforce to operate from August 09. “We will be facilitating traders with setting up separate vaccination centres for them,” he said as traders said that they were also assured of relief in municipal taxes and provision of interest-free loans. The All-City Tajir Ittehad asked the provincial minister to open wholesale markets as there is less congregation in these markets. Nasir Shah said that the government would ask the police to deal with traders in a polite manner. “I am thankful to the business community for supporting the government on the COVID situation,” he said adding that all businesses would be reopened after the implementation of the COVID SOPs. He, however, warne

Despite Covid pandemic and a consequent trend of an overall decline in the South Asia region, Pakistan has progressed one spot in the Belt and Road Infrastructure Development Index (2021) and claimed 5th position globally in infrastructure development, ARY News reported. In the annual report on the Beijing based development and progress of countries part of one belt one road project, performances of 71 countries were covered including 63 nations involved in the Belt and Road Initiative (BRI). The Report, jointly published by the China International Contractors Association (CHINCA) and the China Export and Credit Insurance Corporation, was released late last month at the 12th International Infrastructure Investment and Construction Forum (IIICF) held for two days in Macao. Southeast Asia ranked first among the seven regions, the report said. Indonesia, Malaysia, the Philippines, and Vietnam taking the top four places. The Central and Eastern European regions ranked at the bottom main