67 m. ago Tax revenue from electricity bills drops by Rs110 billion amid falling consumption

The Federal Board of Revenue (FBR) collected Rs490 billion in taxes through electricity bills in FY2024–25, marking a sharp decline of Rs110 billion compared to Rs600 billion collected in the previous fiscal year. This drop reflects changing energy consumption trends and slower economic activity. According to official sources, the decrease in tax revenue is largely […]

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89 m. ago FPCCI urges nationwide shift to solar power for economic and energy relief

Pakistan can unlock major economic and environmental benefits by adopting solar energy across the country, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Saturday. During a meeting with a group of industrialists led by Zia Ur Rehman, Shahid Imran, convener of FPCCI’s Regional Committee on Food, highlighted Pakistan’s over 300 sunny […]

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92 m. ago FTO pledges fair tax system to empower Pakistan’s business community

The Federal Tax Ombudsman (FTO) has reaffirmed its commitment to building a fair and efficient tax environment that supports businesses across Pakistan. FTO Coordinator Saif Ur Rehman shared this during a meeting with business leaders in Lahore on Saturday. Addressing a delegation led by Zahid Iqbal Arain, he highlighted the vital role businesses play in […]

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2 h. ago Exchange companies contribute $5 billion in remittances during FY2024

Foreign currency exchange companies in Pakistan contributed nearly $5 billion in remittances during the fiscal year 2024–25, marking a growing role in stabilizing the currency market. In June alone, they sold around $450 million to banks, according to the Exchange Companies Association of Pakistan (ECAP). ECAP Secretary General Zafar Paracha praised the State Bank of […]

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2 h. ago Naumaan Ijaz slams rising electricity prices, urges end to ‘200 unit mafia’

  As power tariffs continue to rise in Pakistan, actor Naumaan Ijaz voiced strong disapproval over increasing electricity bills, calling for relief for ordinary citizens already burdened by inflation. Amid widespread complaints, Naumaan took to social media to express his frustration over the recent tariff changes announced by the National Electric Power Regulatory Authority (NEPRA). […]

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4 h. ago OPEC+ boosts oil output by 548,000 barrels per day for august

OPEC+ has agreed to raise oil production by 548,000 barrels per day (bpd) in August, accelerating its output hike plan as global markets remain tight. The move follows recent geopolitical tensions and reflects efforts to stabilize fuel prices amid increased global demand. This is the largest monthly hike so far this year, up from 411,000 […]

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5 h. ago Elon Musk launches ‘America Party’ in bold split from Trump over tax bill

Elon Musk has officially launched a new political movement called the “America Party,” marking a dramatic break from U.S. President Donald Trump. Musk announced the move on his social platform X, declaring the new party aims to “give you back your freedom.” The billionaire made the announcement just a day after criticizing Trump’s newly signed […]

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16 h. ago Govt accepts IMF demand to public officers’ asset declaration

The federal government has fulfilled another condition set by the International Monetary Fund (IMF), making it mandatory for all government officers in Grade 17 and above to publicly declare their assets. A gazette notification for the Civil Servants (Amendment) Bill, 2025 has been officially issued following approval by President Asif Ali Zardari. The bill aims […]

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21 h. ago China, France should act as forces for stability, openness, inclusiveness, unity: Chinese FM

BEIJING: Chinese Foreign Minister Wang Yi has called on China and France to act as forces for stability, openness, inclusiveness and unity. Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during a joint press conference with his French counterpart, Jean-Noel Barrot. Wang said […]

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24 h. ago Pakistan defeats India, bags 7 medals at Asian junior squash championship in Korea

Pakistan celebrated a major triumph at the Asian Junior Squash Championship 2025 in Korea, defeating traditional rivals India and securing a total of seven medals. The national junior squad returned home with two gold, two silver, one bronze, and two Plate Division titles, marking one of their strongest performances in recent years on the Asian […]

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24 h. ago Sui Gas New Connections likely to resume for 3.5 Million Pending Applicants; full details here

LAHORE – Finally some sigh of relief for millions of Pakistani households and businesses, as the federal government is looking

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26 h. ago ECC demands fair access for farmers left out of Rs37.5bn loan scheme

The Economic Coordination Committee (ECC) has expressed concern over the exclusion of small farmers from Punjab and Sindh in a new Risk Coverage Scheme. The scheme, developed to provide financial support to farmers in underserved areas, currently covers only Khyber Pakhtunkhwa and Balochistan. The ECC has now asked the State Bank of Pakistan (SBP) to […]

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27 h. ago SBP pumps Rs13 trillion into banks to calm liquidity jitters

The State Bank of Pakistan (SBP) injected over Rs13 trillion into the banking system on July 4, 2025. The move aimed to maintain short-term liquidity and support banks during inflationary pressure. This included Rs12.647 trillion through conventional Open Market Operations (OMOs), mostly in 14-day instruments at an 11.03% return. Additionally, SBP carried out a Shariah-compliant […]

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32 h. ago UN nuclear inspectors exit Iran amid rising military tensions

Inspectors from the UN’s nuclear watchdog, the International Atomic Energy Agency (IAEA), have safely departed Iran and returned to Vienna, according to an official statement from the agency. The IAEA is now calling for the urgent restoration of monitoring and verification activities in Iran, which were halted after Iran formally suspended cooperation last Wednesday. The […]

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44 h. ago Syria willing to work with US to restore 1974 truce deal with Israel

Syria has expressed readiness to cooperate with the United States to reinstate the 1974 disengagement agreement with Israel, according to a statement issued after a call between Syrian Foreign Minister Asad Al-Shibani and his American counterpart Marco Rubio. The development comes as Washington intensifies efforts to mediate peace between Syria and Israel. Last week, US […]

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46 h. ago Commercial Property Rent in Punjab to increase after New 16pc Taxes

KARACHI – Renting commercial space in Punjab just got more expensive as government implemented a 16% sales tax on the

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52 h. ago Gold set for weekly gain as US tax cuts spark fiscal concerns

Gold prices edged higher on Friday, heading for a weekly gain, as the passage of U.S. President Donald Trump’s sweeping tax-cut and spending bill triggered new fiscal worries. Spot gold rose 0.1% to $3,329.67 per ounce in early trade, while U.S. gold futures slipped slightly by 0.1% to $3,339.30. The bill, which cleared Congress on […]

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52 h. ago Dollar holds firm as Trump’s tax bill and trade pressure shake global markets

The U.S. dollar remained steady on Friday after a recent rebound, boosted by strong job data and the successful passage of President Donald Trump’s major tax and spending bill. The legislation, expected to add $3.4 trillion to the national debt, sparked fresh debate about America’s fiscal path but did little to weaken investor confidence in […]

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67 h. ago Stuck in limbo: Afghan refugees stranded in Pakistan after Germany suspends refugee programme

ISLAMABAD: Afghan refugees, who fled their homeland after the Taliban’s return to power in 2021, now find themselves in limbo in Pakistan as Germany suspends its humanitarian admission programme. The programme, which began in 2022, aimed to offer asylum to vulnerable Afghans, including women and human rights activists, but it has now been put on […]

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68 h. ago China and Pakistan join forces to modernize agriculture under CPEC

China and Pakistan have renewed their pledge to strengthen agricultural cooperation under the China-Pakistan Economic Corridor (CPEC). The announcement came during a high-level forum held in Islamabad. The event focused on boosting food security, sharing agricultural technology, and expanding trade through long-term partnerships. Officials stressed the need for sustainable practices to meet growing food demands. […]

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