Latest news with #MPMG
Business Recorder
6 days ago
- Business
- Business Recorder
Better news
At its current pace, cement offtake this year is likely to end up roughly at the same level as last year. Domestic dispatches are estimated to have declined by around 6 percent, but total dispatches have been buoyed by a 24–25 percent rise in exports. Despite muted local demand, cement companies have remained largely profitable, thanks to strong domestic pricing and controlled coal costs. The upcoming budget, however, could bring even better news. After quietly dissolving former Prime Minister Imran Khan's flagship initiative—the Naya Pakistan Housing Development Authority (NAPHDA)—Prime Minister Shehbaz Sharif now appears poised to introduce a housing finance subsidy, echoing Mera Pakistan Mera Ghar (MPMG) scheme in structure, but likely introduced with less fanfare. In its four years of operation, NAPHDA had planned 156,000 housing units, of which only about 58,000 were completed. Of these, 31,000 were financed through MPMG. Given the original target of 5 million homes, progress has been disappointing. It's worth noting, however, that many of the projects under NAPHDA were not initiated by the authority itself but were pre-existing schemes absorbed into its portfolio. The current administration does not appear keen on launching a massive, centrally managed housing initiative—which, considering NAPHDA's bureaucratic pitfalls and Pakistan's fiscal constraints is probably wise. Instead, the government is planning a modest, targeted mark-up subsidy for 200,000 homes. That's a small and manageable start. Banks already have mechanisms in place to assess mortgage applications, owing to their experience with MPMG. According to BR estimates—since the SBP did not disclose borrower figures—approximately 78,000 mortgages were issued between 2020 and 2022, tied to Rs100 billion in loan disbursements (read: 'Now you see it, now you don't'). With limited data, it's difficult to assess the full impact of the scheme. But if Sharif's plan delivers financing for 200,000 homes through the formal banking channel, it would be more than double of what the MPMG ever achieved. And double is better, right? One cannot possible say. The fact is, whether a subsidy scheme will be impactful and add valuable output to the housing market or not, is a question for another day or another political era.. We will have to wait for the Budget 2026 announcement to see the exact modalities of the subsidy—who the scheme will target, and how it will be executed. What's certain increase housing credit will spur demand for construction materials, and cement stands to gain the most which the industry will undoubtedly welcome.
Korea Herald
27-03-2025
- Entertainment
- Korea Herald
Singer on President Obama's playlist coming to Seoul
Indie singer-songwriter Faye Webster to perform at Musinsa Garage in July American indie singer-songwriter Faye Webster will hold her first concert in Korea. On Thursday, concert promoter MPMG announced that Webster would perform on July 23 at Musinsa Garage in Mapo-gu, Seoul. Webster began singing at 14 and released her debut album at 16, showcasing her talent at an early age. Over the years, she has crafted a distinctive sound that blends indie pop, alternative country and R&B. Her 2021 album "I Know I'm Funny Haha" reached the top 10 on the US Billboard Folk Chart. Notably, the album's "Better Distractions" was included in former US President Barack Obama's list of favorite songs that year. Webster continues to explore various genres and push creative boundaries. In March 2024, she released the collaborative single "Lego Ring" with rapper Lil Yachty, her high school friend. She is also gaining recognition as a live performer, securing spots in the lineups of major global music festivals, including the 2024 Coachella Valley Music and Arts Festival and the 2025 Fuji Rock Festival. Tickets for her Seoul concert will go on sale at 10 a.m., April 2 on Interpark Ticket.
Korea Herald
11-02-2025
- Entertainment
- Korea Herald
Libertines to hold first-ever Korean concert
British rock band to play in Seoul in April British rock band The Libertines will hold their first concert in Korea on April 9 at 8 p.m. at Yes24 Live Hall in Gwangjin-gu, Seoul, as announced by event organizer MPMG. Emerging as an influential band in the postpunk revival movement of the early 2000s, The Libertines debuted in 2002 with the single "What a Waster / I Get Along." Their first full-length album, "Up the Bracket," released later that year, earning them recognition for best new band at the NME Awards and propelling them to widespread fame. Their second album, "The Libertines," released in 2004, was also well received by both critics and the public. However, the band's sudden breakup that year left many fans disappointed. A decade later in 2014, The Libertines reunited for a comeback and released third album "Anthems for Doomed Youth" in 2015 -- 11 years after their previous release. Last year, the group once again demonstrated their enduring influence by topping the UK Albums Chart for the first time in 20 years with their fourth album, "All Quiet on the Eastern Esplanade." Presale tickets for The Libertines' Seoul concert will be available from Feb. 17-18, exclusively through pop music platform Ualive. General ticket sales begin on Feb. 18 at 6 p.m. via Yes24 Ticket and Interpark Ticket.
