News & Updates

News Update

05

Aug 2024

Aug 05, 2024 • 5 min read

PM Forms 8-Member Task Force to Implement Key Reforms in Power Sector

The Prime Minister has constituted an eight-member Task Force under the chairmanship of Federal Minister for Power Sarda...

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News Update

04

Aug 2024

Aug 04, 2024 • 5 min read

Govt Wants to Raise General Sales Tax on Tractors to 14%

The federal government is planning to increase the sales tax on tractors from 10 to 14 percent. In the 2024-25 budget, t...

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News Update

04

Aug 2024

Aug 04, 2024 • 5 min read

Cement Sales Down 11th Month in a Row

The cement despatches declined for the 11th straight month, decreasing by 6.81 percent in July 2024. According to the da...

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News Update

04

Aug 2024

Aug 04, 2024 • 5 min read

Irregularities Worth Rs. 750 Million Uncovered at Islamabad Club

The Auditor General of Pakistan has uncovered massive financial irregularities amounting to Rs. 750 million while auditi...

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News Update

04

Aug 2024

Aug 04, 2024 • 5 min read

Govt Presented With Plan to Cut Electricity Rates By Rs. 5 Per Unit

The federal government has been presented with a massive relief plan whereby a lump sum payment of Rs. 4 trillion would...

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News Update

04

Aug 2024

Aug 04, 2024 • 5 min read

Senior IRS, Customs Officers Start Lobbying for Chairman FBR Position

After the early retirement request of Chairman Federal Board of Revenue Amjad Zubair Tiwana, the Inland Revenue and Paki...

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News Update

04

Aug 2024

Aug 04, 2024 • 5 min read

Govt’s Expensive Import of Urea to Cost Nearly Rs. 6 Billion in Subsidies

The Economic Coordination Committee’s latest decision to import expensive 100,000 metric tons of urea will cost billions...

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News Update

04

Aug 2024

Aug 04, 2024 • 5 min read

Karachi to Get New Industrial Zone in Next 3 Years

Director General Karachi Development Authority (KDA) Syed Shujaat Hussain said that a new industrial zone will be establ...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

CCP Approves Merger in Pakistan’s Real Estate Sector

The Competition Commission of Pakistan (CCP) has approved a merger in real estate sector. This approved transaction invo...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

OGRA and Oil Refineries Speed Up $4.5 Billion Upgrade

The Oil and Gas Regulatory Authority (OGRA) and several oil refineries are expediting the implementation of the $4.5 bil...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

PM Shehbaz Vows to Cut Electricity Prices in Pakistan

Prime Minister Shehbaz Sharif Friday said the government was focused on providing relief to electricity consumers, as re...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

Rupee Ends Week With Massive Gains Against British Pound

The Pakistani rupee (PKR) ended the week with gains against the US Dollar today after opening trade at 278 in the interb...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

IT Ministry Awaiting Law Ministry’s Opinion on Pending LDI Dues

The Ministry of IT and Telecom has not yet made a final decision regarding the collection of dues from telecom LDI compa...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

Gold Price in Pakistan Hits Another Record High as International Prices Rise

The price of gold in Pakistan continued its record-breaking run on Friday to climb to a new all-time high. According to...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

Institutional Reforms Committee Issues Recommendations for Rightsizing of IT Ministry

The Institutional Reforms Committee has issued new recommendations for the Ministry of IT and Telecom. The committee pro...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

Bawany Air Products to Buy Alman Seyyam Sugar Mills Limited for Rs. 12 Billion

Defaulter Bawany Air Products Limited (PSX: BAPL) has signed a share purchase agreement for purchasing Alman Seyyam Suga...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

Short-Term Inflation in Pakistan Eases to Over Two Year Low

The Sensitive Price Index (SPI)-based inflation for the week ended August 1, 2024, recorded an increase of 18.41 percent...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

Cabinet Approves Signing of MoU With China for Collaboration in 6 Key Sectors

The federal cabinet on the directions of Prime Minister Shehbaz Sharif on Friday approved the signing of a Memorandum of...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

Petroleum Sales Decline 11% in July 2024

Total petroleum sales during July 2024 arrived at 1.20 million tons, showcasing a decline of 11 percent YoY. According t...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

PTA Shortlists 10 International Consultants for 5G Auction

Pakistan Telecommunication Authority (PTA) has shortlisted 10 international consultants/JVs/firms who had submitted expr...

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News Update

02

Aug 2024

Aug 02, 2024 • 5 min read

Pakistan Has Paid $3.7 Billion Interest to IMF in 40 Years

Pakistan has paid interest amounting to SDR 2.815 billion ($3.7 billion) to the International Monetary Fund (IMF) since...

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