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$13.44 billion in liquid foreign reserves

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The State Bank’s foreign reserves were $8,040.3 million, whereas Pakistan’s total liquid foreign reserves as of the week ending April 5, 2024, were US$ 13,441.7 million.

The State Bank of Pakistan said that during the week under review, the central bank’s foreign exchange reserves dropped by $0.1 million to $8,040.3 million in a statement released here on Monday.

It further stated that commercial banks’ net foreign reserves were reported to be $5,401.4 million.

The nation’s total liquid foreign reserves as of the previous week, which concluded on March 29, 2024, were $13,378.9 million.

These included the $8,040.4 million in foreign reserves held by the central bank and the $5,338.5 million in net foreign reserves held by commercial banks.

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Parliament, not the courts, should discuss the problem of electronic voting: Mandokhel, Justice

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The constitutional bench rejected a petition about the electronic voting system at a Supreme Court hearing, stating that it was ineffectual.

The technique was employed in the 2018 by-elections, according to the Director-General (Law) of the Election Commission, and a report had been sent to Parliament.

Insisting that the Senate Committee take up the issue, Justice Jamal Mandokhel underlined that such issues ought to be discussed in Parliament.

The necessity for correction was emphasized as he questioned why the hearing went on even after the case was over.

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Punjab starts a youth skills program to help people find work in the Gulf markets.

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CM’s Skilled Punjab Program-International Placement is a ground-breaking program that the Punjab Skills Development Fund (PSDF) has developed with the goal of providing Pakistani youth with access to the world.

By giving young Pakistanis the skills they need to succeed overseas, the program will improve both their prospects and the country’s economy.

Their crucial influence in the country’s economy is demonstrated by the fact that remittances accounted for a substantial 21% of Pakistan’s GDP in 2021 (Source: Asian Development Bank).

Given this, PSDF has determined that the Gulf Cooperation Council (GCC), and Saudi Arabia in particular, is a crucial market for Punjab’s young people. PSDF will support this ambition by offering skill development that is in line with the unique requirements of the global labor market.

Ten thousand young people in GCC markets will receive demand-driven skill training and be placed in foreign jobs during the program’s first phase. The initiative will also address the rising demand for skilled workers worldwide in industries including retail, construction, healthcare, and hospitality. In addition to promoting remittance inflows, this two-year scheme will aid in Pakistan’s overall economic expansion.

During the meeting, Chairperson of the CM Task Force on Skills Development, Adnan Afzal Chattha, stated, “We have carefully identified specific trades in which Punjab’s youth will be trained to enhance their chances for international placement. This program is intended to give learners thorough instruction in a variety of fields, greatly increasing their chances of landing a job abroad.

Additionally, by facilitating the sharing of best practices and technological know-how, this enhanced engagement will improve information flow and promote international innovation.

In addition to giving young people financial security, the initiative seeks to improve resource allocation and lessen the nation’s fiscal burden. Increasing the number of qualified professionals working overseas can also benefit Pakistan by generating remittances that can boost the country’s economy.

“This initiative can enhance Pakistan’s international standing as a provider of highly qualified talent, thereby drawing additional international cooperation and investment,” stated Ahmed Khan, CEO of PSDF.

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The Silk Road Culture Centre ushers in a new era of cross-cultural interaction.

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According to Federal Minister Ahsan Iqbal, the Belt and Road Initiative is reimagining the historic Silk Road, which was a 7,000-kilometer trading corridor.

Speaking during the Silk Road Cultural Center’s opening ceremony in Islamabad, Ahsen Iqbal underlined the center’s critical role in bridging people and cultures throughout the region.

Additionally, he emphasized the value of the creative industries as an essential part of cultural and economic advancement, pointing out that such endeavors improve Pakistan’s standing internationally.

The Silk Road Culture Centre officially opened in a grand event attended by diplomats, ambassadors, and cultural enthusiasts from across Rawalpindi and Islamabad.

The Silk Road Culture Centre marks a new chapter in cultural exchange.

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