Islamabad, Apr 3, 2025: SAN FRANCISCO In a surprising move, Amazon has reportedly submitted a last-minute proposal to acquire TikTok, the popular video-sharing platform facing potential prohibition in the United States unless divested by its Chinese parent company, as per a report by the New York Times on Wednesday. The bid was conveyed in an official letter addressed to key figures involved in negotiations concerning TikTok’s ownership transfer, aimed at addressing U.S. national security apprehensions, according to the Times. President Donald Trump has downplayed concerns regarding TikTok’s potential ban in the U.S., expressing optimism that a buyer will be secured…
Author: Mawadat Fatima
Islamabad, Apr 3, 2025: A recent study has uncovered that 50 million individuals in Pakistan donated an astounding Rs. 619 billion ($2.19 billion) in Zakat during 2024. This amount exceeds both the disbursements under the Benazir Income Support Program (BISP), which stood at Rs. 592 billion, and the federal excise duty revenue, recorded at Rs. 577.4 billion. The research was conducted by scholars from the UK-based International Center for Tax and Development (ICTD) in collaboration with Lahore University of Management Sciences (LUMS). Findings indicate that the average Zakat contribution per donor was nearly Rs. 15,000. The report also sheds light…
Islamabad, Apr 3, 2025: The Central Power Purchasing Agency (CPPA) has settled its outstanding dues with Nishat Chunian Power Limited (PSX: NCPL), as per a notification shared with the stock exchange on Thursday. “CPPA has cleared the pending receivables to the company, in accordance with the terms outlined in the Amendment Agreement,” NCPL confirmed in its filing. The company had previously entered into a Power Purchase Agreement (PPA) with its exclusive client, Central Power Purchasing Agency (Guarantee) Ltd (CPPA-G), for a period of 25 years, starting from July 21, 2010. Read More: Mari Energies Discovers Major Gas and Condensate Reserves…
Islamabad, Apr 3, 2025: Mari Energies Limited (PSX: MARI) has successfully uncovered its third reservoir of gas and condensate at the Spinwam-1 well, situated in the Waziristan Block of Khyber Pakhtunkhwa. This latest breakthrough originates from the Hangu Formation, following an earlier successful extraction from the Kawagarh Formation. As per the company’s official disclosure to the Pakistan Stock Exchange (PSX), the well has yielded an impressive flow rate of 23.85 million standard cubic feet per day (MMSCFD) of natural gas, alongside approximately 122 barrels per day (bbl/day) of condensate. The extraction process was recorded at a 32/64-inch choke, with a…
Islamabad, Apr 3, 2025: Lotte Chemical Pakistan Limited (PSX: LOTCHEM) has opted to prolong the suspension of its plant operations until April 17, the company announced in a statement to the stock exchange on Thursday. In its latest filing, the company stated, “To optimize inventory management, plant operations will remain halted from March 28, 2025, to April 17, 2025.” Lotte Chemical Pakistan is primarily engaged in the production and distribution of Pure Terephthalic Acid (PTA), a key raw material used in the polyester industry. The decision to extend the plant’s shutdown aligns with the company’s strategy to streamline inventory levels…
Islamabad, Apr 3, 2025: The federal government’s borrowing from domestic banks for budgetary purposes saw a significant decline of 66% in the first eight and a half months of fiscal year 2025. This totalled Rs 1.386 trillion, a sharp drop from Rs 4.06 trillion during the same period in the previous fiscal year. This reduction is primarily due to increased foreign inflows and the record profits achieved by the State Bank of Pakistan (SBP). For budgetary support, the government borrowed Rs 116 billion from the central bank, marking a notable shift from the Rs 408 billion net repayment seen in…
Islamabad, Apr 3, 2025: Pakistan’s exports to the United States, which were valued at nearly $6 billion, now face a potential threat due to the latest tariff adjustments announced by former US President Donald Trump. The newly imposed tariff rate has surged to 29%, a sharp rise from the previous preferential rates of 4-5% granted under the Generalized System of Preferences (GSP). This unexpected increase will make Pakistani goods significantly more expensive for American consumers. However, Pakistan may still hold an edge over some regional competitors. Despite the tariff hike, Pakistan’s cost advantage remains favorable when compared to countries like…
Islamabad, Apr 3, 2025: In a move that is expected to unsettle the nation’s growing solar power users, the Power Division is preparing significant amendments to net-metering regulations in the forthcoming Budget 2025-26. Senior officials have disclosed that, after an unsuccessful attempt to lower the solar buyback rate from Rs. 27 to Rs. 10 per unit, the federal government now sees major tariff policy changes as the only way to curb the rising number of solar net-metering consumers. Authorities have hinted at an increase in equipment costs, a revised taxation system on installation and service fees, and a uniform import…
Islamabad, Apr 2, 2025: In a striking act of political defiance, Cory Booker, a Democratic senator representing New Jersey, delivered an extraordinary 25-hour and 5-minute speech on the US Senate floor. His extended address, which continued into Tuesday evening, was a direct response to President Donald Trump’s proposed policies, particularly the planned reductions in Social Security services under the newly established Department of Government Efficiency, led by billionaire Elon Musk. Booker’s speech not only set a new record but also surpassed a long-standing Senate milestone held by Strom Thurmond, a segregationist senator who, in 1957, spoke for 24 hours and…
Islamabad, Apr 2, 2025: In a landmark diplomatic achievement, Chairman Senate of Pakistan, His Excellency Syed Yusuf Raza Gilani, has been appointed as the Founding Chairman of the Inter-Parliamentary Speakers’ Conference (ISC). This Seoul-based global forum aims to enhance parliamentary dialogue, promote sustainable development, and foster international cooperation on critical issues such as climate change, renewable energy, and water scarcity. The decision was made during Chairman Gilani’s recent visit to Kuala Lumpur, Malaysia, where he attended an exclusive briefing session on the forthcoming ISC Summit in Seoul, Korea. His appointment is a testament to Pakistan’s growing influence in global parliamentary…
