Online investment facility for overseas Pakistanis under consideration

ISLAMABAD: The Central Directorate of National Savings (CDNS) is considering launching three new investment instruments for promoting investment culture in the country. Launching of Registered Prize Bonds, Children Protection Certificates and Sharia Papers as well as providing online investment facility for overseas Pakistanis is also under consideration.

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Dollar skyrockets vs Pak rupee

KARACHI: The dollar crossed Rs 104 and hit a new high against the rupee in the interbank market, dealers said on Thursday. It began the day’s trading at Rs 103.98 for buying, strengthened by 52 paisas and closed at Rs 104.50 for buying and Rs 104.55 for selling. However, the euro retreated versus the local currency as it started the day’s trading at Rs 139.05 for buying, lost 42 paisas and closed at Rs 138.63 for buying and Rs 138.83 for selling. The British pound surged considerably against the rupee as it initiated the day’s trading at Rs 161.07, soared by 94 paisas and closed at Rs 162.03 for buying and Rs 162.23 for selling.

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LDA plans ‘largest housing scheme’

The Lahore Development Authority (LDA) has planned the largest housing scheme of the metropolis on Ferozepur Road, namely the ‘LDA City’.

According to details, the housing scheme would be launched on the basis of land sharing methodology between landowners and the LDA, on an area of approximately 5,000-acres. LDA has invited expressions of interest (EOI) and pre-qualification from urban planning consulting firms for planning and designing of the LDA City housing scheme.

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Pak mission facilitating expatriates in Saudi Arabia

The overseas Pakistanis are confronting multiple problems in Saudi Arabia and to address such matters the Pakistani mission has taken a number of measures, a written statement of the foreign minister available with Daily Times revealed on Saturday.

In Saudi Arabia, labour disputes arise with employers. Overseas Pakistani workers submit a large number of applications in the mission pertaining to problems with their sponsors. Problems generally relate to non-implementation of mutually agreed matters upon contractual obligations, including salary, food and medical allowance and non-renewal of Iqama etc. The Saudi employers do not recognise the Foreign Service Agreement (FSA) executed between an economic migrant and an Overseas Employment Promoter (OEP) in Pakistan.

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Nepotism-plagued Pakistani schools in KSA to be revamped

All political appointees in Pakistan embassy schools in the Kingdom will be replaced with professional teachers within a year said Pakistan’s Federal Minister for Planning and Development.
Talking to Urdu News on Sunday, Ahsan Iqbal said these schools will be turned into excellent educational institutions and all those appointed on political grounds will be axed. He bemoaned growing nepotism in the appointments in these schools.
“Overseas Pakistanis are spending a huge amount of money on these schools but in return they don’t get quality education for their children, this cannot continue,” Iqbal said.

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Overseas Pakistanis to invest in education sector

LAHORE: Lauding the role of overseas Pakistanis in the nation building, Punjab Governor Ch Muhammad Sarwar on Monday said that their love for the country was unquestionable and their bond with it unbreakable.  “They have always been ready to serve their country and are fully committed for its prosperity, progress and safety”, he observed during a meeting with a seven member delegation of PML (N), Italy Wing, headed by Raja Sheraz Ahmed at Governor House, Lahore on Monday. 

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Development of Islamabad

Plan to seek massive investment

By Liaqat Toor (Pakistan Observer)

After failing to develop Islamabad as metropolitan city on international standards, the new government has initiated steps to attract huge investment from within and abroad to complete its mega projects including housing units, water supply systems and infrastructure development.

New chairman of civic body Nadeem Hassan Arif, taking direct instructions from Prime Minister Nawaz Sharif has taken up the challenge of building the tattered city on Dubai model.

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