The oil industry has criticised the government’s plan to impose carbon and petroleum levies on furnace oil, warning that the move — aimed at meeting IMF’s conditions — could further strain finances as the sector is already facing the issue of sales tax exemption on petroleum products. “We will not be able to sell a litre of […]
Finance Minister Muhammad Aurangzeb said on Friday that the World Bank Group had approved a $700 million loan for the Reko Diq mining project, despite strong opposition from India, which attempted to block the investment required to meet the project’s overall $3 billion financing needs. The World Bank Group approved the concessional package by rejecting […]
Oil prices fell off multi-month highs hit earlier on Friday as Israeli air strikes avoided Iranian oil sites, but prices still up about 6% as investors worried that the tensions could disrupt Middle East oil supplies. Brent crude futures were up $4.11, or 5.9%, to $73.47 a barrel by 1712 GMT, after earlier soaring over […]
Consumers have called for an audit of power distribution companies (DISCOs), following the latter’s request to the regulator to approve the collection of Rs455 billion through an increase in electricity rates. The regulator — the National Electric Power Regulatory Authority (Nepra) — conducted a public hearing on Friday to consider the interim tariff applications of eight DISCOs. […]
The State Bank of Pakistan (SBP) on Friday injected a total liquidity of Rs13.514 trillion into the cash-hungry banking system through open market operations (OMO). According to official data, the central bank provided Rs12.8 trillion under a seven-day reverse repo and an additional Rs453 billion through a 14-day reverse repo. In addition to conventional OMOs, […]
The above-ground pilot enrichment plant at Iran’s Natanz nuclear site has been destroyed, UN nuclear watchdog chief Rafael Grossi told the Security Council on Friday. “At present, the Iranian authorities are informing us of attacks on two other facilities, namely the Fordow fuel enrichment plant and at Isfahan,” the International Atomic Energy Agency’s Rafael Grossi […]
To treat labourers working outdoors during the ongoing intense summer, the DC Officer Health Cantt has established a free medical camp on Old GT Road Chowk, Saddar. The camp is providing free medical assistance to those suffering from heat-related issues, including cart pullers and passersby. A dedicated team of doctors and paramedics is stationed at […]
Construction of the dual carriageway in Pind Dadan Khan, District Jhelum, has been dragging on for four years with little visible progress, leaving local residents mired in dust, pollution, and frustration. The painfully slow pace of work has created hazardous living conditions. Clouds of dust blanket the area, contributing to respiratory illnesses such as asthma […]
The circulation of counterfeit currency is reportedly on the rise in Chakwal and surrounding areas. In a recent incident at Nakka Kahut, two suspects attempting to use fake currency were caught by local street vendors and handed over to the Balkasar Police Checkpost. According to details, two men arrived in a Suzuki Bolan at a […]
Is Donald Trump the present day manifestation of the ancient Chinese businessman who enjoyed the least of respect in society? A direct comparison may sound unfair to the president, but his fixation on tariffs – seemingly rooted in arrogant nationalism – has prompted many in China to recall how ancient Chinese emperors and philosophers viewed […]