Islamabad, Dec 18: Prime Minister Shehbaz Sharif is set to inaugurate the construction of the Mansehra-Muzaffarabad Motorway, a major infrastructure project valued at Rs. 45 billion. Initially approved by former Prime Minister Nawaz Sharif in 2016, the project faced delays under the Pakistan Tehreek-i-Insaf (PTI) government, which put it on hold due to financial constraints. However, the current government has revived the initiative under the China-Pakistan Economic Corridor (CPEC) framework. MNA Sardar Mohammad Yusuf explained that the project has received approval from a China-Pakistan consortium and that Rs. 45 billion has been allocated for its development. The motorway, which will…
Author: Iqra Khan
Islamabad, Dec 18: The Pakistan Stock Exchange (PSX) witnessed a severe bear market on Tuesday, with the benchmark KSE-100 index plunging by nearly 3,800 points, marking a dramatic loss for investors. The index closed at 111,070.29 points, down 3.41% from the previous session, signaling the largest single-day point drop in its history. This sharp decline surpassed the previous significant loss of 3,505.62 points on November 26, 2024. According to brokerage firm Topline Securities, profit-taking by investors led to the massive sell-off, with local mutual funds, which had been net buyers for the past 14 consecutive sessions, shifting to net sellers.…
Islamabad, Dec 18: The National Assembly Standing Committee on IT and Telecom convened under the chairmanship of Aminul Haque to discuss the Digital Nation Pakistan Bill 2024. Members debated the bill’s framework, with several raising concerns over the lack of clarity and roadmap for its implementation. Sharmila Faruqi criticized the absence of a proper plan, urging the Ministry to present a detailed proposal. Omer Ayub questioned the urgency behind the bill and called for transparency, stakeholder consultation, and expert involvement, while expressing concerns about creating additional bureaucracy. Shaza Fatima, Minister of State for IT, defended the bill, emphasizing its importance…
Islamabad, Dec 18: Chairman of the Pakistan Cricket Board (PCB), Mohsin Naqvi, recently met with Prince Saud bin Mishal Al Saud, Chairman of the Saudi Arabian Cricket Federation, to explore collaborative opportunities aimed at advancing cricket development and infrastructure in Saudi Arabia. During the meeting, Mohsin Naqvi emphasized Pakistan’s commitment to promoting cricket globally and invited Prince Saud to attend the Champions Trophy 2025, which will be hosted in Pakistan. He expressed PCB’s readiness to support Saudi Arabia in building modern cricket facilities and fostering talent development. Highlighting the importance of collaboration, he proposed a player exchange program that would…
Islamabad, Dec 18: Electricity generation in Pakistan experienced a decline of 3.9 percent year-on-year during the first five months of the current fiscal year (July-Nov FY25), totaling 58,840 GWh (16,024 MW). This downward trend contrasts with a positive uptick in November 2024, when generation increased by 6.4 percent year-on-year, reaching 8,032 GWh (11,156 MW). The average fuel cost for electricity generation during the 5MFY25 period rose to Rs. 8.30/KWh, reflecting a 4 percent increase compared to Rs. 7.96/KWh during the same period in FY24. For November 2024, the fuel cost increased by 2 percent year-on-year to Rs. 7.29/KWh. However, on…
Islamabad, Dec 18: The Punjab government has announced a revised schedule for winter vacations, affecting all public and private schools across the province. Per the updated notification, the holidays will commence on Monday, December 23, 2024, and extend until Friday, January 10, 2025. This adjustment modifies the earlier schedule, which had set the break to start on December 20. Regular classes are set to resume on Monday, January 13, 2025, as January 11 and 12 coincide with the weekend. To ensure the implementation of this updated schedule, the government has directed the Chief Executive Officers (CEOs) of District Education Authorities…
Islamabad, Dec 18: The federal government has deferred the implementation of income tax on agricultural income, a key condition under the IMF agreement, until July 2025. Initially planned for January, the delay comes as part of the National Fiscal Pact, with provinces requiring additional time to enact the necessary legislation. Legislative Delay: Provinces have not completed the legislation required to impose agricultural income tax as stipulated by the IMF. The deadline to finalize the legislation was October 30, 2024. New Timeline: Taxes on small farmers and commercial farmers will now be imposed starting July 2025. Small farmers will be taxed…
Islamabad, Dec 17: The government has officially notified the formation of a high-level committee chaired by Minister for Planning, Development, and Special Initiatives under the leadership of Prime Minister Shehbaz Sharif. The committee is tasked with monitoring and reporting sugar stocks to ensure timely decisions regarding sugar exports and address market concer Analyze Data: The committee will assess sugar production, consumption, and stock data to identify discrepancies and gaps in the system. Develop Framework: It is tasked with proposing a robust framework that ensures evidence-based decision-making, which will help regulate exports and stabilize the market. Timely Findings: The committee is…
Islamabad, Dec 17: In a bid to enhance transparency and prevent malpractice in the upcoming 2025 Matriculation and Intermediate examinations, the Rawalpindi Board of Intermediate and Secondary Education (BISE) is installing CCTV security cameras in all examination centers across the region. CCTV Installation: As part of the initiative, CCTV cameras will be installed in all examination centers, including those in government schools and colleges. Board Chairman Adnan Khan has instructed officials to submit details of existing CCTV installations and ensure full surveillance coverage in all examination halls. Private Schools Excluded: Starting next year, private schools will no longer serve as…
Islamabad, Dec 17: The World Bank’s Country Director for Pakistan, Najy Benhassine, highlighted the critical need for developing and implementing comprehensive climate risk management strategies at the national, provincial, and district levels to help Pakistan better prepare for and respond to natural disasters. This initiative, he emphasized, would mitigate the economic, social, and environmental impacts of these disasters and protect the lives and livelihoods of vulnerable communities. Collaboration for Climate Resilience: In a high-level meeting with Romina Khurshid Alam, the Prime Minister’s Coordinator on Climate Change, Benhassine discussed bilateral cooperation to enhance Pakistan’s climate resilience. Both sides emphasized the need…
