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The Visa Foundation Announces Grantee to Support COVID-19 Recovery in Pakistan

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The Visa Foundation Announces Grantee to Support COVID-19 Recovery in Pakistan

KARACHI – The Visa Foundation announced last week its approval of $8.8 million of its $10 million in COVID-19 relief grants to organizations supporting the frontline response to the global pandemic and providing critical services for vulnerable households such as public health and food relief.

In Pakistan, $200,000 has been granted to Akhuwat to support its COVID-19 Relief Program and provide meals and rations bags to the most affected families. In Pakistan, the ongoing COVID-19 related pandemic and the resulting economic activity lockdown has placed an immense strain on local communities causing food insecurity and increasing poverty. The grant to Akhuwat aims to extend its efforts in providing much-needed support to food relief programs in the country.

This grant is part of the Visa Foundation’s previously announced $210 million global commitment, with $10 million in COVID-19 relief focused on the emergency needs to be announced last week for organizations worldwide and another $200 million to address longer-term needs of the small and micro businesses over the next five years.

“The COVID-19 pandemic is creating unprecedented challenges on the communities in Pakistan,” said Kamil Khan, Visa’s Country Manager for Pakistan. “We’re grateful for the mission-critical services Akhuwat is delivering.”

“We’re grateful for the amazing work humanitarian assistance organizations are providing to communities around the world affected by the COVID-19 pandemic, “said Graham MacMillan, president of the Visa Foundation. “The Visa Foundation is proud to offer these grants to support these organizations’ mission-critical work during these perilous times.”

The forthcoming 5-year $200 million programs will support small and micro businesses, with a focus on fostering women’s economic advancement, both of which will be critical to long-term economic recovery from the COVID-19 pandemic. This commitment expands the Visa Foundation’s long-standing support for small and micro businesses globally. Additional information on the Foundation’s grant and investment strategy will be shared in the coming months.

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Business

PTA recommends giving licenses to Starlink, OneWeb: PTA Chairman

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The image is AI-generated and used for illustration purposes only

ISLAMABAD – The Pakistan Telecommunication Authority (PTA) has recommended issuing licenses to satellite internet providers, including Starlink, OneWeb, and Amazon’s Project Kuiper, as part of efforts to improve internet connectivity in remote areas and along the country’s motorway network.

Read more: Cristiano Ronaldo’s World Cup career ends after Spain defeat

The recommendation was shared during a meeting of the Senate Standing Committee on Cabinet Secretariat, where PTA Chairman Major General (R) Hafeez Ur Rehman briefed lawmakers on the country’s progress towards introducing satellite broadband services.

PTA Chairman on internet service in Pakistan

The PTA chairman said satellite internet has become an important solution for delivering reliable broadband services in underserved regions where expanding conventional telecom infrastructure is both expensive and technically challenging.

Read more: Why Does Electricity Go Out When It Rains in Pakistan?

According to the chairman, the PTA has completed the required technical and regulatory preparations and has forwarded its recommendations to the Ministry of Information Technology and Telecommunication for further consideration.

He pointed to Nepal as an example of a country that has successfully used satellite internet services to strengthen nationwide connectivity, particularly in geographically challenging areas.

The process of obtaining registration

The chairman explained that satellite internet providers will first need to obtain registration from the Space Activities Regulatory Board before they can apply for telecommunications licences from the PTA to launch commercial operations in Pakistan.

Read more: PIA may sell foreign assets to reduce financial liabilities

Pakistan has been working on a regulatory framework for satellite broadband as part of its broader strategy to extend high-speed internet access beyond urban centres and bridge the country’s digital divide.

If approved, the move could pave the way for global satellite internet providers to begin offering services in Pakistan, expanding broadband availability in areas where traditional fibre and mobile networks remain limited.

Category Details
Regulator Pakistan Telecommunication Authority (PTA)
Recommendation Licence satellite internet operators in Pakistan
Companies Starlink, OneWeb, Amazon Project Kuiper
Objective Expand internet access in remote areas and on motorways
Current Status Recommendations submitted to the Ministry of IT & Telecommunication
Registration Requirement Space Activities Regulatory Board approval
Commercial Licence Issued by PTA after regulatory registration
International Example Nepal’s satellite broadband deployment
Expected Impact Reduce the digital divide and improve nationwide broadband coverage

Key Points:

  • PTA has recommended licensing satellite internet providers including Starlink, OneWeb and Amazon’s Project Kuiper.
  • The proposal has been submitted to the Ministry of Information Technology and Telecommunication.
  • Satellite internet is intended to improve connectivity in remote regions and along motorways.
  • Operators will first require registration with the Space Activities Regulatory Board before obtaining PTA licences.
  • PTA cited Nepal as an example of successful satellite broadband deployment.
  • The initiative is part of Pakistan’s broader effort to expand high-speed internet access and reduce the digital divide.

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Gold

Today’s gold rates in Pakistan – July 16, 2026

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KARACHI – On July 16, 2026, gold prices in Pakistan increased, following the upward trend in international markets.

According to the Saraffa Association, the price of 24-karat gold per tola increased to Rs 428,000 after a rise of Rs 1000, while the rate for 10 grams was Rs 366,090.

Today’s Gold and Silver Rates in Major Cities
City Gold Rate Silver Rate
Karachi PKR 428,000 PKR 3,830
Lahore PKR 428,050 PKR 3,830
Islamabad PKR 428,100 PKR 3,830
Peshawar PKR 428,150 PKR 3,830
Quetta PKR 428,200 PKR 3,830
Sialkot PKR 428,000 PKR 3,830
Hyderabad PKR 428,000 PKR 3,830
Faisalabad PKR 428,000 PKR 3,830
Multan PKR 428,000 PKR 3,830

Note: It is pertinent to mention here that Upfront News in no way claims these rates to be accurate at all times, as the prices can continuously vary.

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Forex

Today’s currency exchange rates in Pakistan – July 16, 2026

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KARACHI – Foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, Euro, and other currencies in Pakistan open market on July 16, 2026. The US Dollar’s buying rate stands at Rs 279.05, and the selling rate at Rs 279.2.

Several other currencies, which include the Australian Dollar (AUD), Canadian Dollar (CAD), Chinese Yuan (CNY), Danish Krone (DKK), Japanese Yen (JPY), Kuwaiti Dinar (KWD), Malaysian Ringgit (MYR), New Zealand Dollar (NZD), and Swiss Franc (CHF), showed no significant change in their rates compared to the previous update.

Currency Symbol Buying Selling Charts
🇦🇺Australian Dollar AUD 195.33 198.45 📊
🇧🇭Bahrain Dinar BHD 741.05 751.95 📊
🇨🇦Canadian Dollar CAD 197.72 201.65 📊
🇨🇳China Yuan CNY 38.05 38.8 📊
🇩🇰Danish Krone DKK 42.56 43.25 📊
🇪🇺Euro EUR 321.04 324.4 📊
🇭🇰Hong Kong Dollar HKD 35.24 36.25 📊
🇮🇳Indian Rupee INR 2.75 3.2 📊
🇯🇵Japanese Yen JPY 1.71 1.81 📊
🇰🇼Kuwaiti Dinar KWD 890.02 900.95 📊
🇲🇾Malaysian Ringgit MYR 67 68.05 📊
🇳🇿NewZealand $ NZD 161.2 163.75 📊
🇳🇴Norwegians Krone NOK 27.99 28.29 📊
🇴🇲Omani Riyal OMR 725.81 735.65 📊
🇶🇦Qatari Riyal QAR 75.45 76.47 📊
🇸🇦Saudi Riyal SAR 74.6 75.25 📊
🇸🇬Singapore Dollar SGD 214.85 217.85 📊
🇸🇪Swedish Krona SEK 28.25 28.9 📊
🇨🇭Swiss Franc CHF 343.59 348.25 📊
🇹🇭Thai Bhat THB 8.55 8.8 📊
🇦🇪U.A.E Dirham AED 76.25 76.95 📊
🇬🇧UK Pound Sterling GBP 373.46 376.15 📊
🇺🇸US Dollar USD 279.05 279.2 📊

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