Washington/Islamabad, March 19: The U.S. State Department has dismissed reports suggesting that the government is preparing “travel ban lists” to impose new visa restrictions on various countries. At a recent press briefing, State Department spokesperson Tammy Bruce clarified that there is no such list being prepared. She emphasized that what had been reported was part of an ongoing security review of visa policies, a process started under the Trump administration’s executive order from January 20. Bruce acknowledged that a broader review of visa policies is underway to enhance U.S. security but denied that Afghanistan was on any list of nations…
Author: Ahmad Mukhtar
ISLAMABAD, March 19: The government of Pakistan is planning to offer great relief of Rs 8 per unit for the electricity consumer after withdrawing huge incentives for the solar users. This announcement is due by March 23, celebrations by the government. This tariff cut has come after the revised negotiations of agreements with the IPPs. The government has also got these arrangements in black and white by these IPPs. This cut would be effective from April 2025, means the summer would come with a relief in power bills. Before this announcement an IMF approval is due, which from the sources has…
ISLAMABAD, March 19: A third attempt to restructure National Transmission Modernization Project-I (NTMP-I), will be led by another World Bank project. This will extend the project’s timeline by 20 months, from April 30, 2025, to December 31, 2026. This restructuring is part of a two-phase extension plan aimed at improving the national transmission network’s capacity and reliability and modernizing the operational processes of the National Transmission and Dispatch Company (NTDC). Initially approved by the World Bank’s Board of Directors in December 2017, NTMP-I includes three main components. Project has already cost of $ 425 million. These are the expansion and…
ISLAMABAD, March 19: The 231st meeting of the Privatisation Commission Board, held on Monday, focused on important steps towards the privatisation of key state-owned assets, particularly Pakistan International Airlines Corporation Limited (PIACL) and Roosevelt Hotel Corporation (RHC). Chaired by Muhammad Ali, the newly appointed adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, the meeting started with a key agenda item: the approval of the transaction structure for PIACL’s divestment. The board proposed that 51% to 100% of PIACL’s share capital be divested, including management control, in the second attempt at privatising the airline. The final…
Islamabad, March 18: Prime Minister Shehbaz Sharif is set to undertake an official visit to Saudi Arabia on March 19, 2025, (Wednesday) with the goal of strengthening bilateral ties and boosting economic cooperation between the two nations, as per a statement from Pakistan’s Foreign Office (FO). The Prime Minister will be accompanied by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, along with key federal ministers and senior officials during the visit. During his time in Saudi Arabia, Prime Minister Sharif will meet with Saudi Crown Prince and Prime Minister Mohammed bin Salman. The two leaders are expected to focus…
Islamabad/Delaware, March 18: Village Roadshow Entertainment Group, the company behind iconic film franchises like The Matrix, Ocean’s Eleven, and Joker, has filed for bankruptcy protection in the US. The company’s financial difficulties were outlined in a filing with a Delaware court, with Village Roadshow citing a legal battle with Warner Bros (WB) and a “failed and costly” foray into independent film and TV production as the main causes of its troubles. To address its mounting debts, which are estimated between $500 million and $1 billion, Village Roadshow is proposing to sell its extensive film library for $365 million (£281 million). The…
Islamabad/Paris, March 18: Pavel Durov, the founder and CEO of the popular messaging app Telegram, has been permitted to return to his home in Dubai following his arrest in August 2024. Durov was detained by French authorities for allegedly failing to adequately moderate his platform to reduce criminal activities such as drug trafficking, child sexual abuse material, and fraud. However, Durov denies the accusations, asserting that Telegram has always worked with law enforcement to address these issues. This marks the first time a tech leader has faced arrest over criminal activities occurring on their platform. Durov expressed his relief on Telegram,…
Islamabad/Dubai, March 18: Dubai has firmly established itself as a global leader in the luxury real estate market, topping the luxury real estate market index with a remarkable 147% increase in property prices between 2019 and 2024, according to Knight Frank’s Wealth Report 2025. The city’s prime residential market has seen significant growth, with prices increasing by 16.9% by Q3 2024, and they are on track to rise by 20% by the end of the year. This surge has positioned Dubai among the top performers in the Prime International Residential Index (PIRI), second only to Seoul and Manila. The wealth…
Islamabad, March 18: Foreign direct investment (FDI) in Pakistan saw a significant decline of 45% year-on-year, dropping to $95 million in February 2025, according to a report by the State Bank of Pakistan. Despite the monthly dip, the overall FDI for the July–February FY25 period increased by 41%, totaling $1.618 billion, compared to $1.147 billion in the same period last year. The Pakistani government has been actively working to attract foreign investment; however, growing concerns over terrorism have been tarnishing the country’s reputation and deterring potential investors. Experts believe that, given the current economic and political uncertainty, there is little…
ISLAMABAD, March 18: Port Qasim Electric Power Company (Private) Limited (PQEPC) has issued a warning to the government of Islamabad that it may suspend plant operations due to delayed payments, which have exceeded the agreed deadline. The outstanding receivables for coal-fired plants established under the China-Pakistan Economic Corridor (CPEC) have now accumulated to approximately Rs 300 billion (over a billion dollars). This could result in power companies being unable to remit dividends to their shareholders. This ongoing issue of overdue payments for CPEC power projects has become a top priority for both Pakistani and Chinese authorities, posing a significant barrier…
