
Government privatises 4,789 more schools
The list of these schools has now been made public. With this phase, the total number of public schools in Punjab has dropped further to 38,154.
The third phase of the privatisation plan is scheduled to take place after Eid, with applications already being invited. In this phase, 5,100 more schools will be sold, further reducing the total count of public schools to 33,054.
Initially, Punjab had 48,790 government schools. The first phase saw 5,857 schools privatised, bringing the number down to 42,937.
The third phase is expected to be completed by May 31, before the summer break.
Alongside this, the education department has initiated a "rationalisation" process for teachers and non-teaching staff, seeking data from education officers to determine staffing adjustments.
Sources indicate that schools with less than 100 students will be prioritised for privatisation in this phase.
In the second phase, 45 per cent of the privatised schools were handed over to NGOs, while the rest were transferred to individuals, including entrepreneurs.
The finalisation of the school list was delayed by a month due to extended scrutiny, as over 20,400 applications were received from across Punjab.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
3 days ago
- Business Recorder
Remittances — from lifeline to leverage
Pakistan's remittance inflows in Jul-25 reached $3.21 billion, up 7.4 percent year-on-year, though 5.6 percent lower than June's $3.4 billion due to seasonal normalization after the end-of-fiscal surge. The growth marks a strong start to FY26, following FY25's record $38.3 billion in remittances—a 27 percent increase from the previous year that even exceeded total export earnings. According to the State Bank of Pakistan, Saudi Arabia remained the largest contributor in July with $823.7 million, followed by the UAE at $665.2 million (including $456.8 million from Dubai), the UK at $450.4 million, the EU at $424.4 million, the US at $269.6 million, and other GCC countries including Qatar, Oman, and Kuwait contributing $296 million. This distribution underscores the continued reliance on Gulf-based labour migrants while highlighting steady inflows from Europe and North America, reflecting a diversified base that now includes professionals, students, and freelancers alongside traditional workers. Several factors have supported recent inflows. A crackdown on hundi/hawala networks and money laundering has made formal banking channels more attractive, while a more competitive exchange rate has reduced incentives for informal transfers. Rising income from freelancers and Pakistan-based professionals working remotely for foreign companies has also added to the inflow, offsetting stagnant outward migration as some Gulf states tighten work visa quotas. Despite their importance in shoring up foreign exchange reserves and easing the current account, remittances remain vulnerable to external job markets, oil prices, and host country policies. Heavy reliance on them also risks a 'Dutch Disease' effect—drawing labour into low-productivity sectors like construction, boosting imports, and delaying the structural reforms needed to enhance export competitiveness. Seasonal peaks, such as around Eid or the fiscal year's start, can mask underlying volatility, while shifts in the global economy or slower Gulf growth could quickly put inflows under pressure. This is why policymakers must view the current remittance windfall as a strategic opportunity rather than a permanent cushion. Maintaining the enforcement environment that channels inflows through formal means is necessary, but not sufficient. The real imperative is to channel these funds into productivity-enhancing investments—expanding value-added manufacturing, upgrading skills, and integrating into global supply chains. July's performance is encouraging, but the measure of success will be whether the country can convert this inflow into long-term resilience, reducing dependence on a revenue stream that is ultimately shaped by forces beyond its control. Copyright Business Recorder, 2025


Express Tribune
4 days ago
- Express Tribune
Bullish week lifts stock market above 145,000
A stock broker reacts while monitoring the market on the electronic board displaying share prices during trading session at the Pakistan Stock Exchange, in Karachi on July 3, 2023. Photo: Reuters/ File Listen to article The Pakistan Stock Exchange (PSX) wrapped up the week on a bullish note, with the benchmark KSE-100 index breaching the 145,000 mark amid strong institutional buying, handsome corporate earnings and improved macroeconomic sentiment. Gains were further bolstered by record remittances for July, a sharp jump in textile exports and optimism about government reforms, including a major reduction in circular debt and an ambitious privatisation road map. On a day-on-day basis, the PSX started the week by breaching the 142,000 level, another all-time high, with a rise of 1,018 points as Oil and Gas Development Company (OGDC) received its first term finance certificate (TFC) payment of Rs7.7 billion, signalling strong financial health. On Tuesday, the market extended gains as the KSE-100 index ended at 143,037, up 985 points. Investor confidence was supported by robust inflows and a nine-year low fiscal deficit of 5.38% for FY25. The record-breaking rally continued next day as well, where the index broke another key psychological level of 145,000, reflecting a surge of 2,051 points. However, the bourse took a breather on Thursday, closing at 145,647, up a modest 559 points, as Pakistan recorded a trade deficit of $2.8 billion in July. The PSX ended the week by consolidating around 145k on Friday, with the index standing at 145,383, down 264 points. Investors displayed caution, reacting to recent macroeconomic developments by shifting focus across sectors and booking profits selectively. Arif Habib Limited (AHL) wrote in its review that the KSE-100 index extended its upward trajectory during the outgoing week, closing at 145,383 and posting a week-on-week (WoW) surge of 4,348 points, or 3.1%. The rally was fueled by strong buying from local institutions and funds, along with the ongoing result season. According to the Ministry of Finance, the overall fiscal deficit narrowed to Rs6.2 trillion (5.4% of GDP) compared to 6.8% in FY24. This progress was driven by robust growth in both tax and non-tax revenues, outpacing the rise in expenditures. Cement dispatches surged 30.1% in July on higher exports and post-Eid demand recovery, AHL said. In the MSCI Index review for August 2025, one stock (Faysal Bank) was added to the Frontier Market Standard Index, while two stocks (Indus Dyeing and Manufacturing and Jubilee General Insurance) were added and two removed (Habib Sugar Mills and Octopus Digital) from the Small Cap Index, it mentioned. Petroleum sales rose 2% year-on-year (YoY) to 1.22 million tons in July, driven by lower petrol and diesel prices compared to last year. The T-bill auction held on August 6 raised Rs386 billion, below the target of Rs400 billion, with yields increasing 5-30 basis points across all tenors. In July, workers' remittances reached $3.2 billion, the highest-ever for the month of July. The State Bank's foreign exchange reserves fell $72 million to $14.23 billion in the week ended August 8. Meanwhile, the rupee appreciated 0.1% WoW, closing at 282.47 against the dollar, AHL added. Syed Danyal Hussain of JS Global said that the KSE-100 maintained a bullish tone for most of the week, touching the high of 146,813 before slipping into the red on Friday. The index closed at 145,383, up 3% WoW, while average daily turnover increased 16% to 653 million shares. Sentiment improved as the US imposed higher tariffs on Indian goods, boosting confidence in export-oriented sectors. The government made progress in the power sector, cutting circular debt by Rs780 billion to Rs1.6 trillion, and unveiled a five-year roadmap to privatise 24 companies in three phases, with 10 companies, including PIA, to be privatised in the first phase, he said. On the trade front, textile exports jumped 33.7% YoY to $1.69 billion in July 2025, though the overall trade deficit widened sharply by 44% YoY, reaching $2.7 billion due to higher imports. According to the State Bank, its reserves slipped $72 million to $14.2 billion, mainly on external debt repayments, Hussain said.


Express Tribune
7 days ago
- Express Tribune
RCB protests PERA's 'interference'
The Rawalpindi Cantonment Board (RCB) has written a letter to the Rawalpindi deputy commissioner, terming the operations conducted by the Punjab Enforcement Regulatory Authority (PERA) related to encroachments, food, and health within cantonment limits as interference in cantonment affairs. In the letter, Executive Officer Ali Irfan Rizvi expressed serious concerns over PERA and the Health Department's uncoordinated operations against dengue and encroachments, stating that such actions are being carried out without prior intimation. He said these operations amount to interference in the legal jurisdiction of the cantonment board. The letter asserted that the removal of signboards and banners falls solely under the authority of the cantonment board. Actions by PERA and other departments without permission are damaging inter-institutional coordination. According to the letter, operations by PERA within cantonment boundaries are deemed illegal and promote institutional conflict rather than serving the public interest. It further stated that dengue control activities were also initiated without any coordination with the Cantonment Board. Cheque bounced Separately, a cheque worth Rs165 million issued by the contractor of the Bhatta Ground cattle market to the federal government in lieu of income tax has bounced, prompting the RCB to refer the case to the Cantonment Magistrate for recovery. According to sources, the RCB had awarded the cattle market contract for Eidul Azha 2025 to Muin & Co for Rs1.657 billion through open auction. The contractor paid the full contract amount to the board before Eid. However, under the contract, the contractor was also required to pay Rs165 million in income tax directly to the federal government. The contractor issued a cheque for the said amount to the Federal Board of Revenue's Income Tax Department, but it bounced upon deposit. As a result, the RCB has now referred the recovery case to the cantonment magistrate, who has issued a notice to the contractor and initiated proceedings. Under the cantonment board laws, any contractor found in default can be blacklisted. Service tax On the other hand, the Punjab Revenue Authority (PRA) has demanded a five per cent service tax on parking contracts awarded by the Rawalpindi Municipal Corporation (RMC), which has in turn issued notices to contractors instructing them to pay the tax or face action. According to sources, the municipal corporation recently awarded an 11-month car parking contract for the Commercial Market for Rs8.3 million, which is expected to be revised to Rs15 million. In line with this, parking fees will also be increased. Another contract for parking on College Road, Imperial Market, Liaquat Road, and outside the Municipal Office was awarded for Rs11.3 million. However, due to heavy traffic at Fawara Chowk, the Imperial Market parking site will be excluded from the contract, and the remaining contract will be revised. Car parking fees will be increased from Rs30 to Rs50, while motorcycle parking fees will rise from Rs10 to Rs20. The PRA has now issued a letter instructing the Municipal Corporation to deduct a 5 per cent service tax from the awarded contract amounts and deposit it with the authority.