ISLAMABAD, july26: The Pakistan Sports Board (PSB) returned Rs380 million to the Finance Division for the 2023–24 fiscal year on account of mismanagement and possible political influence, which is another major blow to the country’s sports industry. Funds that were not spent were a result of the Ministry of Inter-Provincial Coordination (IPC) and PSB’s chaotic activities, according to sources. When the spending was not approved by the newly appointed Yasir Peerzada or temporary PSB Director General Ch Zahoor in June, a standoff resulted. After taking office on June 22, Peerzada declined to remove the backlog, claiming that prior administrators had…
Author: Mawadat Fatima
ISLAMABAD, july26: Concerns have been voiced by former Pakistani captain Rashid Latif over the BCCI’s choice of Suryakumar Yadav over Hardik Pandya as India’s next Twenty20 international captain. Latif implied that once Rohit Sharma decided to resign as captain after the T20 World Cup, Pandya’s fitness issues were utilized as a justification to keep him from the position. Pandya has served as Sharma’s deputy during India’s victorious Twenty20 World Cup campaign in the past. To prepare him for future leadership, Shubman Gill was also named the new T20I vice captain, succeeding Pandya. According to Latif, fitness ought not to have…
ISLAMABAD, july26: On Monday, July 29, Pakistan Telecommunication Authority (PTA), which has been unsuccessful in collecting arrears from telecom businesses, is scheduled to respond before the National Accountability Bureau (NAB). Along with the documents pertaining to the non-recovery of arrears from Wireless Local Loop (WLL) and Long Distance International (LDI) firms, which caused financial losses to the national exchequer, NAB Karachi questioned PTA officials on July 22. PTA representatives asked for more time to prepare their response, but they did not show up before NAB on July 22. The PTA has now been told by NAB to turn in its answer…
ISLAMABAD, july26: The World Drowning Prevention Day is being observed here on Friday. In honor of this occasion, the Director General of Rescue 1122, Dr. Muhammad Ayaz Khan, gave a meeage highlighting the importance of the diving service in different districts of Khyber Pakhtunkhwa. He disclosed that since the organization’s founding, Rescue 1122 has provided services in 4,160 drowning incidents; Mardan reported 580 incidents, Peshawar 552, Swat 451, Nowshera 450, and Charsadda 225 drowning incidents where Rescue 1122 conducted search operations and rescued over 6,380 people. He went on to say that the latest technology, such as rubber boats, fiber…
ISLAMABAD, july26: Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Friday. CURRENCY SELLING BUYING USD 281.08 275.52 GBP 361.62 354.44 EUR 305.23 …
Islamabad, JULY26: In the event that the federal government does not revoke the new withholding tax on rice and pulses, the Karachi Wholesale Grocers Association has threatened to go on strike. The government has five days to remove the new tax, according to the organization. At a press conference, Chairperson Abdul Rauf Ibrahim declared that they will all be against the withholding tax. By July 30, the traders will have chosen their ultimate course of action. He threatened legal action if their demands were not granted, stating that the new levy will raise consumer costs by Rs. 10-15 per kilogram.…
ISLAMABAD, july26: Today marks the 1-year anniversary of my arrival in Pakistan. And what a year it’s been! It’s a country that I’d always wanted to live in, with a wonderful reputation in the UK thanks to its warm hospitality, natural beauty, rich cultural heritage and culinary delights. It has not disappointed. I feel lucky to be able to hike in some of the most beautiful parts of the world, regularly taking advantage of the Margalla Hills on my doorstep, and some special weekends to Nathia Gali. While it wasn’t the year for either of our cricket teams, it didn’t…
ISLAMABAD, july26: For the fiscal year 2024–2025, the Federal Board of Revenue (FBR) has reduced its annual tax collection target by a little amount, from Rs. 12.97 trillion to Rs. 12.913 trillion. FBR and the IMF have reached a consensus on quarterly and monthly goals to reach the revised objective of Rs. 12.91 trillion by June 2025. With precise monthly objectives of Rs. 656 billion for July, Rs. 898 billion for August, and Rs. 1.098 trillion for September, the FBR has set a tax collection target of Rs. 2.642 trillion for the July-September FY25. When the FBR rationalized spending, the IMF…
ISLAMABAD, july26: Government-owned power distribution companies (Discos) have requested an additional fuel cost adjustment (FCA) of Rs2.63 per unit in order to collect about Rs35 billion more from customers in the upcoming billing cycle for the energy consumed in June. This is due to the recent rise in base prices. A formal appeal seeking an increase of Rs2.63 per kilowatt-hour (unit) over the reference rate of Rs7.14 per unit being paid to customers was submitted with the regulator by the electricity division subsidiary, Central electricity Purchasing Agency (CPPA), in June. Despite the fact that about 75% of the power supply…
Islamabad, JULY25: The interbank market saw the Pakistani rupee (PKR) open at 278 today, although it later gained ground versus the US dollar. It closed the green versus the greenback after being steady all day. During today’s session, it recorded gains versus the majority of the other major currencies. Before closing at the same level, the interbank rate spent most of the day at 278/$. Today’s open market rates were rigidly set at 278 across many currency counters. The PKR gained nine paisas versus the dollar today, strengthening by 0.03 percent to settle at 278.4. Thus far this fiscal year,…
