The International Monetary Fund (IMF) has presented a detailed report to Pakistan’s Finance Division, urging the government to take swift action to address corruption within the Federal Board of Revenue (FBR) and to enhance overall governance standards. The “Governance and Corruption Diagnostic Assessment” highlights several key recommendations. The IMF has asked Pakistan to reduce tax…
By Salman Khan ISLAMABAD: Competition Commission of Pakistan (CCP) has found alleged ties between fertilizer manufacturers and dealers to manipulate market. The Competition Commission of Pakistan (CCP) has released a draft report titled “Competition Assessment Study of the Fertilizer Industry in Pakistan” for stakeholder and public comments. The study highlights key competition-related challenges in the…
China’s Xinning Enterprise have signed a Letter of Intent (LoI) with Gwadar Port Authority (GPA) to stimulate major industrial and commercial investments at Gwadar Port and its Free Zone, underscoring Gwadar’s growing role as a key regional hub for trade and economic activity. The LoI signed Tuesday by Yi Jiang, representing Xinning Enterprise, outlines plans…
By Salman Khan ISLAMABAD: Petroleum Minister Ali Pervaiz Malik has raised alarm over GENCOs’ failure to clear dues owed to Pakistan State Oil (PSO), Sui Northern Gas Pipelines Limited (SNGPL), and Pakistan Petroleum Limited (PPL). He voiced his concern during a recent meeting of the Cabinet Committee on Energy (CCoE), chaired by Prime Minister Shahbaz…
By Salman Khan ISLAMABAD – United Motorcycles has launched a new variant of its electric scooter under the WAVES brand. It has introduced the WAVES Plus Electric Smart—a compact and efficient two-wheeler aimed at addressing the growing demand for eco-friendly urban mobility in Pakistan. According to the company, the Electric Smart is powered by an…
PAMA Seeks clarity on Motor Vehicle Industry Development Act 2025 relating to testing, conformance and coordinated implementation of Regulations By Salman Khan Islamabad: The local auto industry has called for an increase in customs duty on the import of used cars by up to 40 percent in a bid to protect local car assemblers….
By Salman Khan Islamabad: Pakistan recorded a 9-year low fiscal deficit of 5.38% in FY25, thanks to 36% YoY growth in both tax and non-tax revenues combined vs. 18% growth in total expenditures. The deficit of 5.38% is better than government’s revised forecast of 5.6% of GDP (earlier budgeted 5.9%) for FY25. Similarly, IMF also…
By Salman Khan Islamabad: Karachi Port Trust (KPT) has set up a Ferry Terminal at Karachi port to handle ferry services being launched between Pakistan, Iran and Middle East Countries. A senior official of Karachi Port Trust said that they had established ferry terminal at the Karachi port. Soon as the relevant formalities are notified…
Staff Report ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has indicated a possible reduction of Rs1.80 per unit in electricity prices under the Quarterly Tariff Adjustment (QTA) for the quarter ending June 2025. The proposed relief, if approved, could provide consumers across Pakistan with financial relief amounting to Rs53.393 billion.The proposal was discussed during…
Gold prices in Pakistan rose once again on Monday, continuing a short upward trend in the local bullion market. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs500, bringing the new rate to Rs359,500. Similarly, the cost of 10 grams of 24-karat gold went…
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