Islamabad, Feb 8: The Ministry of Energy (Power Division) has introduced an advanced automated electricity complaints redressal system, designating all members of the Punjab Provincial Assembly (MPAs) as priority consumers. This new initiative aims to enhance the speed and efficiency of resolving electricity-related grievances within the timeframes set by the National Electric Power Regulatory Authority (NEPRA). According to a letter from Federal Minister for Energy, Sardar Awais Ahmad Khan Leghari, the MPs of Punjab will now have their complaints handled promptly through the 118 helpline, bypassing the need for direct interactions with Distribution Companies (DISCOs). This move is part of…
Author: Iqra Khan
Islamabad, Feb 8: Prime Minister Shehbaz Sharif has called on the international community to offer grant-based financial assistance to developing nations like Pakistan, stressing that achieving climate adaptation and green transformation is impossible without external support. His comments were made during the Breathe Pakistan International Climate Change Conference, where he underscored the “cruel paradox” facing Pakistan, a country contributing less than 1% to global emissions while being one of the most vulnerable to climate change. Reflecting on the catastrophic 2022 floods, which submerged a third of the country, displaced 33 million people, and caused damages worth $30 billion, the Prime…
Islamabad, Feb 8: In 2024, Pakistan significantly boosted its local mobile phone production, meeting 95% of domestic demand through local manufacturing, a marked improvement compared to the five-year average of 67% and the eight-year average of 47%, according to a report by Topline Securities. Data from the Pakistan Telecommunication Authority (PTA) revealed that local manufacturers assembled 2.95 million mobile phones in December alone, a 28% increase from the previous month. However, this surge in local production comes alongside a rise in mobile phone imports. The State Bank of Pakistan reported that mobile phone imports surged to $52.9 million in the…
Islamabad, Feb 8: Pakistan’s liquefied natural gas (LNG) agreement with Qatar includes a provision that allows either party to initiate renegotiation talks next year. However, no decision has been made regarding whether such negotiations will take place, according to Pakistan’s Petroleum Minister Musadik Malik. He made the clarification following remarks he had made to a parliamentary energy committee, which were reported by The News, suggesting that the current deal with Qatar was costly and that Pakistan planned to seek better terms in the future. Malik explained to Reuters that he had been outlining the specifics of various LNG contracts, noting…
Islamabad, Feb 8: Pakistan has successfully met three out of five key fiscal conditions set by the International Monetary Fund (IMF) ahead of its first review under the $7 billion loan program. According to a finance ministry report, the country has achieved targets related to the primary budget surplus, net revenue collection, and provincial cash surplus. However, concerns remain as the Federal Board of Revenue (FBR) fell short of its tax collection targets, a crucial benchmark for the IMF’s upcoming review in March. The government reported a primary surplus of Rs3.6 trillion, equivalent to 2.9% of GDP, surpassing the IMF’s…
Islamabad, Feb 8: The Securities and Exchange Commission of Pakistan (SECP) has once again warned the public against fraudulent investment schemes operating under the guise of real estate projects. The commission emphasized that company registration with SECP does not grant firms the authority to collect public deposits, offer guaranteed returns, or run unauthorized investment ventures. In recent months, SECP has received multiple complaints, particularly from senior citizens, who have lost their life savings to such deceptive schemes. Fraudsters often lure investors with promises of exceptionally high returns while using official-looking documentation, such as Federal Board of Revenue (FBR) national tax…
Islamabad, Feb 8: Punjab’s Provincial Development Working Party (PDWP) has given the green light to five major development projects with a combined budget exceeding Rs39.73 billion. The approvals came during the PDWP’s 63rd meeting, chaired by Planning and Development (P&D) Board Chairman Barrister Nabeel Ahmad Awan. Senior officials, including Secretary P&D Board Dr. Asif Tufail and Chief Economist Masood Anwar, were also present at the meeting. The newly sanctioned projects primarily focus on road infrastructure development across multiple districts. Among them, a key initiative involves the construction of a road linking Bahawalpur (N-5) to Jhangrah Sharqi Interchange (KLM) in District…
Islamabad, Feb 7: The Punjab government has announced a new initiative to provide direct financial assistance to eligible families, allocating Rs30 billion for the program. Instead of setting up subsidized Ramazan bazaars or distributing ration packages, the government will send Rs10,000 directly to selected households. Registration for the scheme began on February 1 and will continue until February 15. Only those families that have pre-registered will be eligible to receive the financial assistance. The funds will be disbursed through the Bank of Punjab, with Pakistan Post facilitating the home delivery of payments. To ensure secure transactions, beneficiaries will need to…
Islamabad, Feb 7: Pakistan has confirmed that it will not import wheat this year due to sufficient stock availability, as stated by Waseem Ajmal Chaudhry, Secretary of the Ministry of National Food Security and Research (MNFS&R), during a meeting of the National Assembly Standing Committee on National Food Security and Research. He also confirmed that the government would not announce a support price for wheat in the 2024-25 season, in line with the agreement made with the International Monetary Fund (IMF) to deregulate wheat prices. Chaudhry reassured the committee that neither the federal nor provincial governments would need to import…
Islamabad, Feb 7: In an unexpected move, Sega and Sports Interactive have announced the cancellation of Football Manager 25 (FM25), one of the most eagerly awaited entries in the popular football simulation series. The decision, revealed as part of Sega’s latest financial results, comes after a series of delays and increasing challenges during the game’s development. The announcement was made through the official Football Manager social media channels, where Sports Interactive issued a detailed statement expressing regret over the cancellation. The studio also apologized to fans who had pre-ordered the game, ensuring that all pre-order customers would receive automatic refunds.…
