3 h. ago Govt signs $4.5bn loans with local banks to ease power sector debt

The government has signed term sheets with 18 commercial banks for a Rs1.275 trillion Islamic finance facility to help pay off the mounting debt in its power sector, Power Minister Awais Leghari said on Friday. The government, which owns or controls much of the power infrastructure, is grappling with ballooning circular debt, unpaid bills and […]

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5 h. ago FBR says banks pay 53% tax on income, seeks end to special privileges

ISLAMABAD: The Federal Board of Revenue (FBR) has revealed that banks in Pakistan pay a heavy 53% tax on their income. FBR Chairman Rashid Langrial disclosed this during a meeting of the National Assembly’s Standing Committee on Finance on Thursday, sparking discussions on the tax structure for financial institutions. He stated that the government wants […]

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6 h. ago Debit and Credit Card Cash Withdrawal, Annual Fees Updates in Pakistan from July 2025

KARACHI – Banks in Pakistan continue to charge fees for debit and credit card cash withdrawals to cover costs like

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6 h. ago SBP injects record Rs14.3 trillion to ease cash shortage in banks

The State Bank of Pakistan (SBP) has injected a record Rs14.3 trillion into commercial and Islamic banks for seven days. This move comes after a major cash withdrawal during Eid-ul-Adha and delays in expected foreign inflows. The central bank conducted the injection through its regular open market operation (OMO). The amount equals almost 44% of […]

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7 h. ago Trump can stop the war with one call, says Iranian presidential spokesman

Iran’s presidential spokesman, Majid Farahani, has stated that a single phone call from President Donald Trump could bring the Iran-Israel conflict to a halt. Speaking to CNN, Farahani emphasized that diplomacy with Iran can easily resume — but only if Trump instructs Israel to stop its attacks. Farahani highlighted that Iran believes in civilian dialogue, […]

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8 h. ago Govt secures Rs1.275 trillion Islamic loan to ease power sector debt

The Government of Pakistan has signed a major financial deal worth Rs1.275 trillion ($4.5 billion) with 18 commercial banks to reduce the country’s mounting power sector debt. The financing, based on Islamic principles, comes at a critical time when the sector is weighed down by unpaid bills, subsidies, and liquidity shortages. These issues have not […]

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10 h. ago Government Signs $4.5 Billion Loans With Local Banks To Ease Power Sector Debt

Pakistan has signed term sheets with 18 commercial banks for a 1.275 trillion Pakistani rupee ($4.50 billion) Islamic finance facility to help pay down mounting debt in its power sector, government officials said on Friday. The government, which owns or controls much of the power infrastructure, is grappling with ballooning “circular debt”, unpaid bills and […]

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11 h. ago China braces for more floods as monsoon rain batters key provinces

China issued red flood alerts across multiple provinces on Friday as extreme storms continue to slam the country’s central and southern regions. The heavy downpours, triggered by the early arrival of the East Asia monsoon, are putting millions at risk and disrupting the world’s second-largest economy. According to state media, the warnings—the first of the […]

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14 h. ago U.S. attack on Iran would expose China’s limited power in region, says NYT

A recent New York Times article argues that a U.S. military strike on Iran would highlight China’s limited power in the Middle East. Despite China’s growing global influence, it is unlikely to provide military support to Iran if such a conflict breaks out. According to the report, China may supply Iran with defensive equipment and […]

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15 h. ago LHC orders dual language recording of witness statements for better justice

LAHORE – The Lahore High Court (LHC) has ordered all lower courts in Punjab to record witness statements in both English and Urdu to ensure fair and clear justice delivery. Justice Tariq Nadeem issued the ruling, noting that a 1973 notification had already mandated the use of Urdu in courts. However, despite this long-standing directive, […]

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15 h. ago Hezbollah declares full support for Iran, threatens action against Israeli strikes

Hezbollah has openly declared its support for Iran amid rising tensions in the Middle East, warning that it will not remain silent in the face of Israeli and American aggression. The announcement came from Hezbollah’s Secretary-General Naim Qassem on Thursday through a statement posted on Telegram. Qassem stated that Hezbollah and the Islamic Resistance are […]

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16 h. ago FBR urges to end special tax treatment for banks, calls for uniform tax rules

The Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has urged the Senate Standing Committee on Finance to abolish the special tax treatment given to banks. He recommended that banks be taxed under the same rules as other companies. During his briefing, Langrial questioned why banks are exempt from the normal tax regime applied […]

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16 h. ago Sindh healthcare commission launches online registration for clinics and hospitals

KARACHI – The Sindh Healthcare Commission (SHCC) has introduced an online system for registering and licensing clinics and private hospitals across Sindh. This new digital platform aims to make the registration process easier and faster for healthcare providers. SHCC signed a Memorandum of Understanding (MoU) with the Sindh Business One Stop Shop (SBOSS) under the […]

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17 h. ago Trump backs Israel’s strike on Iran despite ‘peacemaker’ claims

WASHINGTON – US President Donald Trump, once known for calling himself a peacemaker, has quietly supported Israel’s recent bombing campaign against Iran, signaling a major shift in his approach to Middle East conflicts. Though he initially favored diplomacy, growing pressure from allies and intelligence reports of an imminent Israeli strike pushed him toward military support. […]

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30 h. ago 9 EU nations demand end to trade with Israeli settlements in west bank

Nine countries from the European Union have asked the European Commission to propose steps to end trade with Israeli settlements in the occupied West Bank. This move comes in response to growing concerns about the legality of these settlements under international law. According to a Reuters report published by The Times of Israel, foreign ministers […]

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31 h. ago China laments Trump’s use of force threat against Iran amid rising Middle East Tensions

BEIJING – China voiced strong opposition to the use of military force amid growing international concern over the escalating conflict

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31 h. ago Xi talks with Putin over phone, discusses ‘worsening’ Middle East situation

Chinese President makes a four-point proposal for tackling the current situation BEIJING: Chinese President Xi Jinping and Russian President Vladimir Putin exchanged views with a focus on the situation in the Middle East during a phone conversation on Thursday. In the phone call, Putin briefed on Russia’s views on the current situation in the Middle […]

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32 h. ago Xi says ceasefire an urgent priority in settling conflict in Middle East

BEIJING: Chinese President Xi Jinping said on Thursday that ceasefire is an urgent priority in settling the conflict in the Middle East, and the use of force is not the right way to resolve international disputes. During phone talks with his Russian counterpart, Vladimir Putin, over the situation in the Middle East, he urged the […]

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34 h. ago State Bank of Pakistan’s foreign reserves increase by $46 million

KARACHI – Pakistan’s liquid foreign reserves stood at $17,004.5 million as of June 13, 2025. According to the data released

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36 h. ago China, Russia urge Israel to halt attacks on Iran, call for immediate ceasefire

BEIJING/MOSCOW – Chinese President Xi Jinping and Russian President Vladimir Putin held a phone conversation on Thursday, strongly condemning Israel’s ongoing attacks on Iran and calling for an immediate ceasefire in the Middle East. According to China’s state news agency Xinhua, President Xi told Putin that China is ready to engage in talks with all […]

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