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November 2, 2023

The White House said Wednesday it will develop a national strategy to combat Islamophobia as President Joe Biden faces skepticism from many Muslim Americans for his staunch support for Israel’s military attack on Hamas in Gaza in response to the group’s attack on Israel on October 7. The start of the effort against Islamophobia has been expected for months. The government in May published a national strategy to combat anti-Semitism that also made reference to fighting anti-Muslim hatred, but the effort gained momentum after the ongoing deadly conflict between Israel and Hamas in Gaza. What is this? The strategy, a

November 1, 2023

News Desk

Business

IT sector for rapid policy adoption

Islamabad: IT industry experts have lauded the recent policy measures of the State Bank of Pakistan (SBP) aimed at boosting IT and IT-enabled services (ITeS) exports and called for their immediate implementation. The IT sector has set an ambitious target of increasing IT exports to $5 billion annually. Pakistan Software Houses Association (P@SHA) President Muhammad Zohaib Khan has lauded the collective support of the Special Investment Facilitation Council (SIFC) and the Ministry of Information Technology & Telecommunication (MoITT) to address the long-standing demands of the IT industry. He stressed the need for the SBP to ensure that commercial banks comply

October 31, 2023

News Desk

Business

SBP maintains tight monetary policy

KARACHI: Pakistan’s central bank on Monday left its key policy rate unchanged at a record high of 22 percent ahead of the International Monetary Fund’s (IMF) first review of its $3 billion loan program. “The MPC (monetary policy committee) noted that the successful and timely completion of the upcoming IMF-SBA (standby arrangement) review would help free up other multilateral and bilateral financing,” the State Bank said in announcing the monetary policy. The bank said it would maintain “tight monetary policy” for now, but indicated that the policy rate had peaked at the current level. In its latest monetary policy statement

October 30, 2023

News Desk

Business

SBP keeps the key policy rate unchanged at 22%.

KARACHI: In line with market expectations, Pakistan’s central bank left its key policy rate unchanged at a record high of 22% for the third consecutive time in the past four months, saying the rate remains appropriate to strike a balance between reading inflation and of the economy. activities. In its latest monetary policy statement released on Monday, the State Bank of Pakistan (SBP) said “[The monthly] Headline inflation rose in September 2023 as expected. However, it is forecast to decline in October and then maintain a downward trajectory, especially in the second half of the financial year.” While recent volatility

The White House is working on new measures to deal with Islamophobia

IT sector for rapid policy adoption

SBP maintains tight monetary policy

SBP keeps the key policy rate unchanged at 22%.

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