Islamabad, Apr 7, 2025: The Pakistan Solar Association (PSA) has raised concerns that the proposed revisions to Pakistan’s net metering regulations could have a detrimental impact on rooftop solar investments and consumer savings. In a formal communication addressed to Prime Minister Shehbaz Sharif and Power Minister Awais Leghari, PSA expressed its concerns regarding plans to eliminate the existing unit-for-unit net metering system, replacing it with a flat buyback rate of Rs. 10 per unit for solar electricity fed back into the grid. The association warns that this change could result in a drastic reduction of consumer savings by up to…
Author: Mawadat Fatima
Islamabad, Apr 7, 2025: Engro Energy Limited (EEL) has strongly rejected the allegations of a significant breach made by Liberty Power Holdings and its associated group, announcing the formal cancellation of all share purchase agreements (SPAs) concerning the sale of its thermal energy assets. This decision comes after the Acquirers withdrew from the deal and issued a notice claiming that EEL’s actions had invalidated the agreements. Engro Holdings Limited (PSX: ENGROH) communicated this update to the stock exchange on Monday. The SPAs, initially finalized on April 4, 2024, entailed the sale of EEL’s complete holdings in three major projects: a…
Islamabad, Apr 7, 2025: The highly anticipated Pakistan Minerals Investment Forum 2025 is set to commence this Tuesday at the iconic Jinnah Convention Centre in Islamabad. The two-day event aims to showcase Pakistan as a rising hub for metals and minerals exploration by bringing together key government officials, international investors, and leading industry minds. This strategic gathering will spotlight Pakistan’s evolving mineral landscape and its efforts to unlock economic opportunities through sustainable practices, investor-friendly reforms, and long-term sectoral growth. The forum facilitates high-level dialogue, attracts substantial foreign direct investment, and cements Pakistan’s role in the global mining ecosystem. A major…
Islamabad, Apr 7, 2025: Renowned actor Liam Cunningham, best known for his role as Ser Davos Seaworth in the iconic series Game of Thrones, has raised his voice for Gaza in a powerful interview. The Irish actor passionately stated, “If we do not speak out against the genocide in Gaza today, what will we tell our children about our silence ten years from now?” Cunningham’s bold statement has gone viral, resonating with people around the world who are demanding justice and peace in the war-torn region. His remarks come at a time when global awareness of the humanitarian crisis in…
Islamabad, Apr 6, 2025: The Khyber Pakhtunkhwa Local Government Department has initiated disciplinary action against its officers and employees for unauthorized absenteeism, despite the official end of the Eid ul-Fitr holidays. Five local government officers have been suspended due to their absence following the completion of the public holiday period. The department found several employees absent without prior notice, raising concerns about discipline and accountability within the department. Read More: Govt Plans to Drop PTV Fee from Power Bills The authorities have emphasized the importance of adhering to office timings and maintaining efficiency in public service delivery. This action reflects…
Islamabad, Apr 6, 2025: Eidul Adha, one of the most eagerly awaited celebrations in Pakistan, particularly for children, is predicted to take place on Saturday, June 7, 2025, based on early forecasts. Eid ul adha 2025 in pakistan The official date, however, will be confirmed by the nation’s moon sighting committee, which follows the customary Ruet-e-Hilal procedure. In the UAE, astronomers have also predicted that the crescent moon marking the start of Dhul Hijjah will be visible on the evening of May 27, 2025, according to the Emirates Astronomy Society. Based on these calculations, Zilhajj is expected to begin on…
Islamabad, Apr 6, 2025: The federal government is preparing to drop the longstanding Rs. 35 monthly deductions added to electricity bills for the benefit of Pakistan Television Corporation (PTV). A detailed summary has been drafted to abolish this PTV surcharge, which affects all categories of electricity users—including household, business, and industrial consumers. This summary is expected to be discussed in an upcoming high-level meeting with the prime minister next week. The goal is to provide financial relief to over 42 million electricity users nationwide by discontinuing this extra charge. At present, PTV collects nearly Rs. 1.5 billion every month via…
Islamabad, Apr 6, 2025: The price of 24-karat gold per tola experienced a major dip, falling by Rs. 5,500, and was available in the local market at Rs. 320,000, according to the latest data released by the All-Pakistan Sarafa Gems and Jewellers Association. A day earlier, the same gold quality was priced at Rs. 325,500, indicating a significant downward shift in the precious metals market. Likewise, the cost of 10 grams of 24-karat gold also dropped by Rs. 4,714, settling at Rs. 274,348, compared to its earlier rate of Rs. 279,063. In addition, 22-karat gold, commonly preferred for jewellery, recorded a…
Islamabad, Apr 6, 2025: The Federal Board of Revenue (FBR) has recorded an unprecedented tax collection of Rs. 242 billion from profit on debt during the first eight months of the fiscal year 2024-25. This levy applies to the interest income earned by depositors through bank accounts, taxed at a 15% rate under the current financial plan. Among all withholding tax segments, profit on debt remains the second-largest revenue contributor, following closely behind advance income tax. So far, FBR has amassed Rs. 976 billion through advance income tax, solidifying its status as the top revenue source under the withholding tax…
Islamabad, Apr 6, 2025: The UAE Ministry of Finance has unveiled new tax regulations offering corporate tax exemptions to Qualifying Investment Funds (QIFs) and select limited partnerships. According to the revised guidelines, income generated by QIFs will be free from UAE Corporate Tax if specific conditions are fulfilled, including a limit of 10 percent on real estate holdings and adherence to ownership diversity rules. The regulations offer QIFs a grace period to correct any ownership diversity violations within the initial two-year qualification period. However, these violations must not exceed a cumulative 90 days annually and cannot occur during liquidation. Read…
