Lifestyle

Malik Riaz-backed digital news platform Nukta laid off 37 Pakistani employees less than a year after its launch due to significant financial losses and a need to cut costs. The crisis directly stems from the severe liquidity crunch affecting the real estate tycoon sponsor, whose assets have been seized by the state to recover billions in fines, including a Rs 125 billion Supreme Court levy. Despite the company citing "restructuring" for the job cuts, Federal Minister Attaullah Tarar quickly intervened, announcing that the Ministry of IT and Telecommunication would provide jobs to all 37 affected employees.

RAWALPINDI: The Kachehri Chowk area is fully closed for a major construction project (three flyovers and three underpasses) that began on November 3. The City Traffic Police (CTP) has implemented major diversions. Commuters from Rawat/Jhelum Road to Old Airport must use Bahria Phase 1. Other routes to Saddar and Murree Road are heavily altered, requiring traffic to navigate through areas like Morgah, New Lalazar, and Rawal Road. Motorists are urged to strictly follow the diversion plan.

Iesco has shocked tens of thousands of net metering users by demanding they replace their existing "green meters" with expensive Automatic Meter Reading (AMR) devices within three months, costing an estimated Rs52,000 per user. The directive, which appeared on recent bills, caused a consumer uproar and led to complaints on the Prime Minister's Portal. Iesco has since temporarily put the implementation on hold, acknowledging the confusion and the need to formulate a fair, relief-focused policy for solar consumers.

RAWALPINDI: Following instructions from the National Accountability Bureau (NAB), the Rawalpindi Development Authority (RDA) is developing a new online portal for the public. This platform will allow citizens to verify the legal status of any housing scheme or individual plot—checking if it is approved, under process, or illegal—before making investments. NAB is integrating data from both the RDA and CDA to enhance transparency and protect consumers from real estate scams and unapproved developments.

The Pakistan real estate sector is moving towards greater professionalism. Eighteen, a luxury project, is leading this charge under new CEO Dr. Mohamed Mansour. Dr. Mansour's core mandate is to deliver the project with speed, precision, and quality, making construction excellence the absolute priority to reinforce customer trust. Key developments include a vital, dedicated slip road from the Srinagar Highway nearing approval. The project reflects strong investor confidence in Pakistan's growth, supported by the SIFC, and is exploring joint ventures with DHA. The mission: deliver faster and better to establish Eighteen as Pakistan's premier, reliable luxury community.

PM Shehbaz Sharif approved the AI-powered Womenpreneurship Platform to boost women in the SME sector and reviewed SMEDA's reforms.SMEDA has opened new regional offices and formed a new board of experts. The PM ordered a clear timeline for the reforms. Finally, SMEDA/TDAP will represent Pakistan at BIOPROM-2025 in Russia.

The State Bank of Pakistan (SBP) has mandated that all digital bank accounts and mobile wallets in the country must have biometric verification completed by the deadline.Millions of account holders who failed to meet the deadline face immediate service suspension, losing the ability to send or receive funds. This new rule is part of a strict SBP policy shift to strengthen Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) controls.Customers must complete biometric verification as soon as possible to reactivate their accounts.

The Punjab government has disbursed PKR 113 billion in home loans to 95,600 low-income families through the ‘Apni Chhat Apna Ghar’ Programme. The initiative, championed by CM Maryam Nawaz, aims to help 500,000 families over five years. Currently, 82,931 houses are under construction, with 20,940 already completed. The scheme emphasizes transparency and strict eligibility checks, benefiting both urban and rural areas.

The Punjab government is moving forward with an initial plan for Lahore's second airport to reduce pressure on the existing system and support urban growth. The Ravi Urban Development Authority (RUDA) has identified a potential site near Ravi City, close to the M-3 Motorway, about 30 km from Allama Iqbal International Airport. The project is currently in the consultation stage to determine its cost and financing. While no timeline is set, the new facility is expected to boost employment and investment, strengthening Lahore's role as a major commercial hub.