Lahore, March 15: The Lahore High Court (LHC) has ordered government to make sure installation of electric vehicle (EV) charging points at all petrol pumps and fuel stations as part of its campaign against smog. During a case hearing on climate issues and environmental pollution, Justice Shahid Karim conveyed displeasure over the shortage of proper policy steps to limit smog and wasting water. The High Court also stressed on the need to start an motivational package to switch transfer petrol-powered rickshaws to electric ones. The recent developments surrounding electric vehicles (EVs) in Pakistan reflect the government’s growing commitment to sustainable…
Author: Ahmad Mukhtar
ISLAMABAD, March 15: The Securities and Exchange Commission of Pakistan (SECP) has taken a significant step to enhance the development of Islamic finance in Pakistan by introducing a concept paper for an Alternative Dispute Resolution (ADR) mechanism. This initiative is designed to foster out-of-court settlements through tools like mediation, arbitration, and neutral evaluation, with a focus on ensuring that the dispute resolution process aligns with Shariah principles. Key Highlights of the SECP’s Concept Paper: Purpose and Objective: The primary goal of the concept paper is to propose a specialized ADR mechanism that would be in line with Islamic law (Shariah),…
Islamabad, March 16: Under President Donald Trump’s administration, the U.S. is contemplating to implement a set of new visa restrictions and travel bans targeting several countries, primarily based on national security concerns. Pakistan is taken into yellow category with “Visa Sharply Restricted”, from the new US administration. These restrictions were divided into various categories, sometimes associated with color-coding, but the categorization of countries as “red,” “orange,” and “yellow” isn’t a formal, official classification in the context of U.S. travel or visa bans. However, the terms were sometimes used informally or in news reports to describe the severity or nature of…
ISLAMABAD, March 15: The government of Pakistan, along with commercial banks, is reportedly moving toward a potential agreement on a Rs 1.23 trillion loan aimed at resolving the power sector circular debt (CD). This loan will consist of Rs 523 billion in fresh exposure, while the remaining Rs 700 billion will be restructured at a lower interest rate. The deal is seen as a crucial step in addressing the current power sector debt, which stands at around Rs 2.3 trillion. Key Details of the Deal: Loan Structure: Fresh Exposure: Rs 5.23 billion. Restructuring of Existing Loan: Rs 700 billion to…
ISLAMABAD, March 15: The official launch of the Pakistan Crypto Council (PCC) marks a significant milestone in Pakistan’s efforts to regulate and integrate blockchain technology and digital assets into its financial sector. This new council is poised to play a key role in shaping policies, fostering innovation, and ensuring a secure approach to the adoption of cryptocurrencies in the country. Key Leadership and Structure The Finance Minister of Pakistan, Muhammad Aurangzeb, will serve as the chair of the PCC, underscoring the government’s commitment to advancing the digital economy. Bilal Bin Saqib, the Chief Advisor to the Finance Minister on the…
ISLAMABAD, March 15: An IMF mission, led by Nathan Porter, and Pakistan reached at a new arrangement of Resilience and Sustainability Facility (RSF) which would provide it additional resources. The Fund team visited Islamabad and Karachi from February 24 to March 14, 2025, to hold parleys on the first review of Pakistan’s economic program supported by the Extended Fund Facility (EFF). At the conclusion of the discussions, Mr. Porter issued a statement too: “The IMF and the Pakistani officials made significant progress toward reaching a Staff Level Agreement (SLA) on the first review under the 37-month Extended Arrangement under the Extended Fund…
ISLAMABAD, March 14: With an exorbitant sale of 4.25 million units globally in 2024, BYD, the largest Chinese electric automaker, is expected to touch 5.5 million vehicle sale in 2025, outstripping the pace of Tesla, the US EVs automaker. BYD has set targets for itself, of around 5-6 million electric vehicles sale globally. From China, BYD exported 417,204 vehicles in 2024, registering a huge 71.9% jump from 2023. The company sold 3.49 million vehicles in China, of around $58 billion. BYD’s record-breaking sales and market growth in 2024 highlight its strong position in the global automotive and energy sectors, setting…
ISLAMABAD, March 14: – PUBG MOBILE, one of the world’s leading mobile games, is celebrating its 7th anniversary with an exciting Version 3.7 Update that brings a wealth of new content. Available from March 6th to May 6th, the update introduces a variety of exciting features, including the long-awaited Rondo Map, the Golden Dynasty themed mode, the unique Reversal Blade weapon, and more. Players will also see updates to Metro Royale, Home, World of Wonder, and Cycle 8 Season 23. Key Highlights of Version 3.7 Rondo Map: The largest map in PUBG MOBILE’s history, Rondo offers an 8×8 km world…
ISLAMABAD/KARACHI March 14: The Pakistan Software Houses Association (P@SHA) has called for a more balanced and supportive taxation system to encourage the growth of the IT sector. In its Budget Recommendations for 2025-26, P@SHA pointed out the disparity in tax rates between local salaried employees (up to 35%) and remote workers (1%), which has contributed to the migration of skilled talent and difficulties in retaining professionals. The points sent by P@SHA Chairman Sajjad Mustafa Syed also suggested to the government to streamline the Federal Board of Revenue (FBR) systems for IT and software industry which is the future of exports…
Karachi/Islamabad March 14: Sino Sindh Resources Pvt Ltd (SSRL)’s CEO Li Jigen highlighted that the cost of generating power from Block-1 in the Thar region is Rs5.52 per unit. This would make it much more affordable even than energy generated from hydroelectric sources. He made this statement during a public hearing organized by the Thar Coal and Energy Board (TCEB) to discuss SSRL’s request for the determination of the commercial operations date (COD) stage tariff for its 7.8 million tons per year lignite mine in Block-1 of the Thar Coalfield. Li explained that the project is situated in the southeastern…
