Ericsson launch graduate program, offering young talent learning.
Future technological leaders in Pakistan are to be fostered by the Ericsson launch Pakistan Graduate Program. The Ericsson Pakistan Graduate Program offers on-the-job, project-based, classroom, and online learning in Information and Communications Technology (ICT) and advanced technologies within the advanced connectivity era and as a contribution to the Digital Pakistan Policy, with experts from Ericsson training and supporting young Pakistani talent.
In a fast-changing ICT sector, graduates are receiving significant work experience, skills, and knowledge that allow them to acquire professional project-based understanding.
According to Aamir Ahsan Khan, President and Country Manager of Ericsson Pakistan, “Ericsson has been in Pakistan for 60 years, and contributing to society is one of our strong pillars. The Ericsson Pakistan Graduate Program develops the graduates’ abilities and expertise while empowering them as technology specialists.
Young, inquisitive, and creative graduates are helping the creation of projects that are revolutionizing communication in Pakistan and the region while working alongside top industry professionals at Ericsson.
Communications service providers may fully benefit from connection thanks to Ericsson. Networks, Cloud Software and Services, Enterprise Wireless Solutions, Global Communications Platform, and Technologies and New Businesses are all included in the company’s portfolio.
It is intended to assist our clients in going digital, boosting productivity, and discovering new revenue streams. The advantages of mobility and mobile broadband have been made available to billions of people worldwide because to Ericsson’s innovation investments. Both the Nasdaq Stockholm and the Nasdaq New York exchanges list Ericsson stock.
Islamabad-Government closes coal power project due to high fuel costs.
The government recently informed the coal power project’s sponsor, China Communications Construction Group (CCCG), of its choice. The plant’s construction was expected to cost the corporation $542 million.
According to the sources, Planning Minister Ahsan Iqbal has requested the relevant authorities to recommend substitute choices that would be provided to the sponsor instead of the imported coal power project plant.
In order to identify other solutions, the authorities have been ordered to perform feasibility studies. The choice represents a break from Pakistan’s pledge to China in February of this year.
Pakistan has committed to including the 300-megawatt Gwadar power plant among its highest priority plans for paying bills once the project had been put into service.
In an effort to allay China’s largest worry, the government also consented to include the much-delayed coal power project in its top priority plans for paying electricity debts.
Harvest Programs
The early harvest programs that were to be finished during the first phase of CPEC included the Gwadar coal power project(2015-18). However, there were delays since the Chinese insurance company declined to offer loan guarantees because other Chinese coal power projects had payment issues.
During a pre-CPEC Joint Cooperation Committee (JCC) meeting this week, Ahsan Iqbal went over specifics.
The JCC, which oversees CPEC’s strategic planning, will need to approve Pakistan’s decision before it can make any unilateral changes to a project.
The 11th JCC session should take place before the second week of November when Prime Minister Shehbaz Sharif would travel to China.
Power Plant Using Solar Resources
The government was attempting to schedule the JCC meeting for the final week of October. However, the meeting will once more be held remotely, much like the previous JCC gathering.
According to the reports, the government is thinking of offering the Chinese corporation the choice of building the power plant using solar resources or moving it to Thar.
The choice to build three CPEC power facilities using imported coal eight years ago has proven to be exceedingly expensive, therefore the PML-N-led government is now encouraging the use of local coal.
The Gwadar plant was built to supply electricity to the port city, which experiences load-shedding for 12 to 16 hours a day and imports all of its electricity from Iran.
Around 14MW of the approximately 70MW of electricity Pakistan receives from Iran is designated for Gwadar.
According to sources, the planning minister once more recommended that the Ministry of Finance hurry up and form a special bank account to protect Chinese projects from circular debt.
The government recently paid the Chinese IPPs roughly Rs45 billion, bringing the amount owed by Chinese power plants down to less than Rs240 billion.
These payments are a standard part of clearing the cost of energy production, and the Chinese plants have not received any special treatment.
Update for Security Procedures
Pakistan has updated its security procedures, according to sources, to address the issue of the protection of Chinese citizens and their property.
The Joint Working Group on Safety and Security made the choice last month during a meeting. The updated protocols, however, have prompted worries from the Ministry of Communications.
In order to sign agreements with the Chinese government during the upcoming JCC meeting, Ahsan Iqbal gave the Ministry of Science and Technology instructions to fulfill the necessary paperwork.
Both nations voted to create six sub-working groups on communication technology infrastructure, application innovation, policy and regulation, HR development, cyber security, and radio spectrum regulation during a meeting of the Joint Working Group on Information Technology.
Pak-China Technology Business Forum
During the JCC summit, the Pak-China Technology Business Forum will be formally launched.
Prior to the upcoming JCC conference, Pakistan would attempt to get the revised PC-I of the Mainline-I project of Pakistan Railways approved.
The revised cost estimate from the Ministry of Railways is $10 billion, which is around 45% more expensive than the initial cost. The Ministry of Planning, however, has voiced concerns.
The agriculture industry will receive a lot of attention because both parties anticipate concluding new government-to-government and business-to-business agreements at the upcoming JCC meeting. Pakistan would also ask China for a technology transfer.
LAHORE-Nusrat Fatah Ali Khan celebrated his 74th birthday on Thursday.
Nusrat Fateh Ali was commonly referred to as Shahenshah-e-Qawwal. He was born on October 13, 1948, in Faisalabad. In Pakistan, he was a forerunner of fusion music.
The first musician to combine eastern and western musical influences was Ustad Nusrat Fatah Ali Khan. He brought his Qawali customs to a global audience.
Shahen shah:
His name is listed in the Guinness Book of World Records for having released 125 albums in total, which is the most by a Qawwali performer.
Qalandar Dum mast, Greetings, Kudos! Tommy dillagi bhooljani page, Kasy da yar na bichry Hon gy km Jany kb, Some of the King of Qawal’s masterworks are Tera in Pakistan.
He received the Pride of Performance award from the Pakistani government for his work promoting music.
At the UK Asian Music Awards in 2005, Nusrat Fatah Ali Khan was presented with the Legends award and the UNESCO Music Prize.
He died of lungs cancer in 1997:
Khan was overweight in his later years; various reports stated that he weighed over 137 kilograms(300 pounds). He had been seriously ill for several months, according to a spokesperson at his U.S. label, American Recordings.
After traveling to London from his native Pakistan for treatment for liver and kidney problems, he was rushed from the airport to Cromwell Hospital in London.
Nusrat Fateh Ali Khan died of a sudden cardiac arrest at Cromwell Hospital on 16 August 1997, aged 48. His body was repatriated to Faisalabad, and his funeral was a public affair.
His wife, Naheed Nusrat, moved after the death of her husband to Canada, where she died on 13 September 2013 in Mississauga, Ontario. Khan’s musical legacy is now carried forward by his nephews, Rahat Fateh Ali Khan and Rizwan-Muazzam.
Karachi: Govt eyes Rs7 trillion via diverse Prize Bonds for finance.
This is in response to the destruction brought on by the floods and the requirement to raise additional funds to deal with their aftershocks.By issuing long-term, 3-year, and 5-year Pakistan Investment Prize bonds on Wednesday, the government raised Rs 218.3 billion in additional funding, above the previously stated objective of Rs 175 billion (PIBs).
After a considerable period of time, the PIBs cut-off yields—the interest rate commercial banks charge the govt for borrowing money—fell by eight basis points on the 3-year bond and by 30 basis points on the 5-year bond. The govt was able to borrow more money than planned thanks to the drop because there was still a strong demand for funding.
As economic activity has now slowed down due to the floods, rehabilitation efforts have not only raised the demand for finances but may also result in a decrease in tax income collection. As a result, the government will rely more on domestic debt, leading to a bigger budget deficit.
According to experts
Commercial banks lowered their cut-off rates downward for the most recent PIB auction. On Monday, the central bank maintained its benchmark policy rate at 15% for the upcoming seven-week period.
The banks bid Rs662 billion in the most recent auction, compared to the government’s objective of Rs175 billion.
By selling the 3-year PIBs, the govt exceeded its objective of Rs60 billion and raised Rs80 billion. At the auction, the bond’s cut-off yield decreased to 13.83% from 13.92% at the previous auction, which conducted on September 14, 2022.
By selling the 5-year PIBs, the government was able to borrow an additional Rs110 billion in addition to the intended Rs60 billion. In contrast to the previous auction, where the cut-off yield for the Prize bonds was 13.39%, 13.09% was used in this auction.
In the most recent auction, the govt received no offers for the 15, 20, and 30-year Prize bonds despite raising an additional Rs 28 billion through non-competitive bids. Ten-year PIB bids were also rejected.
Government has set a goal of raising Rs7.025 trillion
On the other hand, the government has set a goal of raising Rs7.025 trillion over the next three months through the issuance of Sukuk (Shariah-compliant Prize bonds), three-year to 30-year PIBs at fixed and variable rates, and three-month to 12-month T-bills.
In the meantime, the Pakistani rupee ended a 13-day gaining streak as it fell 0.04% (or Rs0.09) on Wednesday to close at Rs217.88 against the US dollar in the interbank market.
In the previous 13 working days, the domestic currency had increased by a total of 9.14% (or Rs21.96).
According to experts, a decline in export revenues and a drop in worker remittances from Pakistan abroad pushed traders to purchase foreign currency at a higher rate in order to pay for imports.
They predicted that the rupee would short-term stabilize around its current levels and then possibly resume an upward trend if Finance Minister Ishaq Dar and the IMF agreed to relax conditions and the nation experienced an early influx of pledges from creditors and the international community in relation to flood relief efforts.
Fake YouTube accounts spread misinformation for an extended period.
On YouTube, these accounts frequently mimic well-known personalities in an effort to con users into handing over cash and personal information. YouTube has been working hard to remove these accounts, but in the meanwhile, it has come up with a cunning YouTube new version solution. Like other social apps like Twitter and Discord, as well as thousands of other akin apps, the video-sharing website has added “handles” to the platform. These “handles” merely name merely name tags that are unique to a YouTuber, allowing for proper differentiation from other users.
The handles are “unique to each channel so that creators may further develop their individual personality and brand on YouTube,” according to the company.
Handles:
handles can be use for a number of things, such as branding and identification, as well as for mentioning in remarks, community postings, and video descriptions.
YouTube URL:
YouTube has claim that content creators will be informed “over the next month” when they choose a handle for their channel, even though the new upgrade has not yet been made available to the general public.
Channels with a personalized URL previously established as their default handle will have that URL set automatically however, the channel owners of those channels will have the ability to change their handle as soon as the notification is receive in YouTube Studio.
The company has made it clear that a number of factors, such as “total YouTube prominence,” “subscription count,” and “whether the channel is active or dormant,” would affect the selection of the handle in YouTube new version.
Additionally, a corresponding URL (youtube.com/@[handle]) will be created with these handles. Visit the Frequently Asked Questions section on YouTube to find out more information about the feature.
K-Electric CEO faces an arrest warrant from Sindh High Court, Karachi.
Syed Moonis Abdullah Alvi arrest warrant that the case against K-Electric was heard at the Sindh High Court amid a period of load shedding, which presented challenges for the parties in other cases.
The arrest warrant must be carried out immediately, according to a Sindh High Court order to Additional IG Javed Alam Odho. Within an hour, the police are to present CEO K-Electric to the court.
The honorable court expressed outrage over the fact that the Sindh High Court heard a number of cases in the dark.
It should be recalled that the Sindh High Court expressed outrage when the police previously told it of the lack of progress in finding the missing people.
The High Court of Sindh voiced its outrage at the lack of progress during the hearing of the petitions pertaining to the recovery of 10 missing persons before the High Court ten days ago and asked the law enforcement agencies to quicken the measures.
Sindh Cabinet appoints 100 of teachers who cleared recruitment exams.
The selection of teachers was decided upon at a provincial cabinet meeting in Karachi, which was presided over by Chief Minister (CM) of Sindh, Murad Ali Shah.
The Cabinet approved the employment of about 193 instructors from 2012 who had already received their interview, offer, and medical letters at the time of the meeting.
Additionally, it authorised hiring an additional 104 instructors from 2012 whose medical examinations had been finished four weeks prior.
Additionally, the Junior Elementary School Teachers (JESTs) and Early Career Teachers (ECTs) who were hired by Sukkur IBA Testing Service (STS) in March were also regularised by the Cabinet.
The Sindh government also started giving appointment letters to hundreds of freshly employed teachers earlier this year. These teachers were hired to fill staffing gaps in public sector educational institutions throughout the province.
Syed Sardar Ali Shah, the minister of education for Sindh, stated during the presentation of appointment letters that Sindh is the only province to have appointed almost 50,000 people in a single recruitment process.
The VC stated them work in accordance with the University Act that it is the syndicate’s priority to hold the meetings of statutory bodies on time and to make.
The syndicate’s members expressed satisfaction that all academic and administrative matters were given top priority while the interests and stability of the university were also taken into consideration. Were being settled as decided by the bodies that are statutory. They hoped that new pathways for growth shall be opened in the wake of these decisions.
Major Power Breakdown Hit Karachi as High Tension Line Disrupt Supply.
Details indicate that the major power breakdown after an additional high-tension line tripped, closing more than 30 grids.
Gulshan-e-Maymar, FB Area, Liaquatabad, SITE, Superhighway, North Karachi, North Nazimabad, Surjani Town, Gulshan, Shah Faisal, and Malir all experienced power outages.
Other regions without power included Orangi Town, Baldia, Saddar, Safora Chowrangi, Scheme 33, and the neighborhood.
Imran Rana, a spokesman for K-Electric, acknowledged that there were blackouts in numerous Karachi neighborhoods.
“Several outages were reported from various locations throughout the city. We are looking into the matter and will keep you updated here, the KE spokeswoman wrote on the microblogging platform.
The utility company also tweeted about the tweet. There are reports of many outages coming from various regions of the city.
Major Power Breakdown in Punjab and Sindh
Additionally, the provision of electricity has been halted in a number of areas of Sindh and Punjab, including Jacobabad, Shikarpur, Sibi, Dadu, and Ghotki.
Additionally, the supply of electricity has been cut off in a number of Punjabi cities, including Rahim Yar Khan and Rajanpur.
According to reports, a technical issue has caused the Guddu Thermal Power Station in Kashmore to stop producing electricity. Technical issues at the power plant prevent the 600MW and 747MW units from running.
The 500-kV system nationwide is not functioning, according to sources at National Transmission and Despatch Company (NTDC).
Without Electricity Areas
The collapse left the Karachi city and accountability courts without electricity, as well as the Sindh High Court.
Hyderabad, Thatta, Jamshoro, Sujawal, Badin, Tando Muhammad Khan, Tando Allah Yar, Mirpurkhas, Umarkot, Sanghar, Nawabshah, Matiari, Tharparkar, and Larkana were among the other Sindhi districts without electricity.
In the meantime, the Quetta Electric Supply Company (QESCO) reported that the malfunction caused power outages in at least 28 Balochistan districts. He stated that the problem had an impact on at least three power plants producing 220 kv’s of electricity.
Federal government grants Sindh administrator of Karachi 3 hospital.
The federal government acceded to the Sindh government’s request regarding hospital ownership and transferred control of the facilities to the provincial government in accordance with a new agreement, putting an end to the protracted dispute over Karachi’s Three Major hospitals.
According to specifics, the federal government agreed to give the Sindh government administrative responsibility for the Jinnah Postgraduate Medical Center (JPMC), the National Institute of Cardiovascular Diseases (NICVD), and the National Institute of Child Health (NICH).
The JPMC, the NICH in Karachi, and the NICVD must now be under the supervision of the federal government, the Supreme Court ruled in January 2019 after rejecting the Sindh government’s appeal.
The provincial government and the health institutions had gone before the court with the argument that the management of the JPMC, NICVD, and NICH fell under the purview of the Sindh government because the 18th Amendment had devolved responsibility for health to the provinces.
It is important to note that, following the 18th Amendment, the federal government transferred control of the three hospitals to the provincial government in 2011.
National Institute of Cardiovascular Diseases (NICVD)
A medical facilities network is located in Pakistan and run through the (NICVD) in partnership with the Sindh Government. In 1963, Dr. Ali Muhammad Kasim founded it.
With its main facility in Karachi and eight satellite facilities dispersed throughout Sindh, the (NICVD) has become the only medical facility in the world to have performed more than 4,000 cardiac surgeries, 8,197 primary PCIs, over 12,000 procedures, and dozens of cardiac implants. These all procedures are performed without charge.
Jinnah Postgraduate Medical Centre (JPMC)
JPMC also known as (Jinnah Hospital, Karachi) is located at Rafiqui Shaheed Road in the Karachi Cantonment area of Karachi, Sindh, Pakistan.
The hospital complex is one of the largest government-run hospitals in Karachi, with about one million people a year visiting.
National Institute of Child Health (NICH)
(JPMC) Pediatric Surgery Unit served as the Institute’s first location for many years. At the request of the top administrative officials, President Zia-ul-Haq visited the School of Pediatrics in 1979 and named it the National Institute of Child Health (NICH).
In April 1990, NICH separated from JPMC and joined the Federal Ministry of Health. Its inaugural director was Prof. Nizam ul Hassan, the foremost pediatric surgeon in the nation.
Ishaq Dar departs for USA to attend World Bank and IMF annual meeting.
According to sources with knowledge of the situation, Ishaq Dar will formally ask senior IMF officials to change the macroeconomic framework for the current fiscal year 2022–23 by slowing GDP growth, rising inflation, and increasing the twin deficits of the budget deficit and current account deficit during meetings from October 10–16.
In order to offer some relief to those who are suffering from inflation, Islamabad is prepared to ask the IMF to loosen the terms of the Extended Fund Facility (EFF), particularly by freezing the fuel price adjustment of electricity and the petroleum development levy on POL products for the upcoming few months.
Pakistan will also ask for a relaxation of the budget deficit objective for the current fiscal year since heavy flooding could jeopardize its efforts to raise revenue and put more strain on its ability to control spending. According to the IMF program, the government has set a budget deficit target for the current fiscal year of 4.9% and is projecting a revenue surplus of Rs153 billion through the end of June 2023.
The IMF/World Bank’s annual meeting will be held in Washington, DC, from October 10 to October 16. Kazim Niaz, the secretary of the Economic Affairs Division, had already left Islamabad for Washington in order to attend the next BWI conference.
Economy of the current fiscal year
In the wake of devastating floods that have cost Pakistan’s faltering economy over $30 billion in reconstruction costs, a request to modify the macroeconomic framework will be made for the current fiscal year.
The administration has calculated that, in line with the macroeconomic framework, rather than the formerly anticipated objective of 5%, the country’s GDP growth may hover around 2% for the current fiscal year.
For the current fiscal year, the economic loss has been estimated at Rs2.4 trillion. According to estimates, nine to twelve million people will become poor due to the loss of 1.8 to 2 million jobs and a potential 4.5% to 5% increase in unemployment.
