Islamabad, Mar 27, 2025: The Punjab School Education Department has officially released a notification regarding the modification of school hours, which will be enforced following the Eidul Fitr holidays. Updated School Timings As per the revised schedule, effective from April 7 until October 15, school timings will be as follows: Single-shift schools: Classes will begin at 8:00 AM and conclude at 1:30 PM. However, on Fridays, schools will close at 12:00 PM. Double-shift schools: The morning shift will operate from 8:00 AM to 12:30 PM, with Friday sessions ending at 12:00 PM. The afternoon shift will commence at 1:00 PM…
Author: Mawadat Fatima
Islamabad, Mar 27, 2025: The yields on Treasury Bills (T-Bills) saw an increase of up to 34 basis points (bps) in the latest auction held on Wednesday. As per the figures shared by the State Bank of Pakistan (SBP), the government secured Rs. 640 billion against a projected target of Rs. 650 billion, with maturities totaling Rs. 412 billion. The auction saw strong participation, with bids amounting to Rs. 1,085 billion. The official statistics reveal that the cut-off yield for the 3-month T-Bills climbed by 19 bps to reach 12.01 percent, while the yield for the 1-month paper surged by…
Islamabad, Mar 27, 2025: After an extended delay of four months, Apple has finally secured approval to bring its iPhone 16 series back to the Indonesian market. The tech giant has confirmed that sales will officially commence on April 11, featuring the full lineup, including the iPhone 16, 16 Plus, 16 Pro, 16 Pro Max, and the newly introduced iPhone 16e. According to Reuters, Apple’s final investment pledge amounts to $300 million, a substantial drop from the previously projected $1 billion. It remains uncertain whether this investment will expand in the future or if Apple has successfully renegotiated a more…
Islamabad, Mar 27, 2025: Pakistan is taking significant steps to modernize its automotive industry by promoting ethanol fuel, ensuring vehicle engine compatibility, and increasing the use of locally manufactured auto components. These strategies were deliberated in a meeting between Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) on Industries and Production, and Hiroshi Kawamura, CEO of Pak Suzuki. During the discussion, Haroon Akhtar Khan reaffirmed Pakistan’s commitment to sustainable energy solutions, including bio-gas and electric mobility initiatives. He highlighted that Pakistan and Japan have substantial potential to collaborate on green energy projects, opening doors for industrial expansion in…
Islamabad, Mar 27, 2025: The Senate Standing Committee on Communications, chaired by Senator Pervez Rashid, convened on Wednesday to assess the Ministry of Communications’ Public Sector Development Program (PSDP) initiatives for 2025-26. The review covered significant infrastructure projects, including progress on the M-6 and M-9 motorways. During the meeting, the Chairman of the National Highway Authority (NHA) unveiled a financial fraud case linked to land acquisition funds for the M-6 motorway. According to reports, a Deputy Commissioner misappropriated Rs. 5.7 million, out of which Rs. 3.2 million has been successfully retrieved. The National Accountability Bureau (NAB) has launched an investigation…
Islamabad, Mar 27, 2025: The Board of Directors of The United Insurance Company of Pakistan Limited (PSX: UNIC) has sanctioned the sale of 59,940,632 common shares in Apna Microfinance Bank Limited, as per the company’s announcement to the stock exchange on Thursday. This divestment is contingent upon approval from shareholders at UIC’s upcoming Annual General Meeting, set for April 25, 2025. The disclosure has been made in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1 of the Pakistan Stock Exchange Rule Book. The core function of the company revolves around General Insurance services, categorizing it as…
Islamabad, Mar 25, 2025: After securing agreements with 29 Independent Power Producers (IPPs) to achieve savings of Rs. 3.498 trillion, the government is now in discussions with an additional 75 power producers, primarily focusing on solar and wind energy projects. These negotiations are expected to conclude by April or May 2025. Federal Minister for Power, Awais Leghari, informed a parliamentary committee on Wednesday that the government is also pursuing a Rs. 1.2 trillion loan from commercial banks to address the growing circular debt crisis. Since July 2024, six IPP contracts have been revoked, while agreements with eight bagasse-based power plants…
Islamabad, Mar 27, 2025: An International Monetary Fund (IMF) delegation is set to arrive in Islamabad in early May to finalize Pakistan’s budget framework for 2025-26. Discussions will focus on taxation policies and expenditure management to ensure economic stability. The IMF Executive Board is expected to approve around $2.3 billion within the next six weeks, with funds likely to be disbursed between late April and early May. Pakistan previously secured a staff-level agreement (SLA) with the IMF, covering a $1 billion installment under the Extended Fund Facility (EFF) and an additional $1.3 billion under the Resilience and Sustainability Facility (RSF).…
Islamabad, Mar 27, 2025: Pakistan’s tax collection has witnessed remarkable growth in the first six months of the fiscal year 2024-25, with direct tax revenue soaring by 29.4% to Rs. 632.7 billion, as reported by the Federal Board of Revenue (FBR). This increase surpasses the figures recorded in the same period last year. Notably, in December 2024, direct tax collection saw a sharp 36.1% year-on-year rise, highlighting the strong upward trend. Surge in Sales Tax Revenue Sales tax revenue also displayed a notable jump of 25.3%, accumulating Rs. 382.9 billion between July and December. This surge was driven by a…
Islamabad, Mar 27, 2025: The Federal Board of Revenue (FBR) has taken decisive action against tax evasion by shutting down three high-end watch stores in Karachi. These businesses were found guilty of failing to comply with the mandatory Point of Sale (POS) system. As per FBR sources, the stores had officially reported inventory valued at Rs. 40 million. However, financial records suggest that the actual revenue generated was an astonishing Rs. 700 million. Given that luxury watches are subject to a 25 percent sales tax, the estimated unpaid tax liability amounts to approximately Rs. 180 million. To ensure accountability, FBR…
