Islamabad, Apr 16, 2025: The government has decided to eliminate the 3% Federal Excise Duty (FED) on the first sale of all properties, including residential and commercial units. This move follows consultations with the International Monetary Fund (IMF). The FED, which previously included an additional 5% tax for non-filers, will be completely removed. A formal proposal has already been submitted, and Finance Minister Muhammad Aurangzeb has authorized the initiative. The government aims to remove the tax by the end of April. The Prime Minister’s Housing Task Force had advocated for the removal of the FED, and the necessary legislative changes…
Author: Mawadat Fatima
Islamabad, Apr 16, 2025: The Saudi Riyal (SAR) has experienced a modest rise in the Pakistani open market, reaching a rate of Rs74.77 on Wednesday. This slight increase has caught the attention of market watchers, as the value of the Riyal continues to fluctuate. In addition, the selling rate of the Riyal has also gone up, with the currency being exchanged at Rs75.32, according to the Forex Association of Pakistan on the third day of this week. Saudi Riyal: A Quick Overview The Riyal is the official currency of Saudi Arabia, denoted by the code SAR (or SR). Each Riyal…
Islamabad, Apr 16, 2025: In a significant move to stabilize Pakistan’s troubled power sector, the Central Power Purchasing Agency-Guaranteed (CPPA-G) is finalizing term sheets with 18 local commercial banks to secure a massive Rs 1.275 trillion financing package. The government is likely to sign the deal, which aims to bring down the growing circular debt burden—currently at Rs 2.4 trillion—by the end of the week. The decision comes following approval from the Power Task Force, which has already held detailed consultations with all key stakeholders. The Ministry of Finance has been actively engaged with the participating banks to iron out…
Islamabad, Apr 16, 2025: A powerful earthquake struck several regions of Pakistan early on Wednesday morning, causing widespread tremors. The quake was felt in areas across Khyber Pakhtunkhwa and northern Punjab, including cities such as Peshawar, Landikotal, Mansehra, Nowshera, upper Dir, Attock, Swat, Malakand, Lahore, Rawalpindi, Islamabad, Gujrat, and Sialkot, among others. In addition to Pakistan, the tremors were reportedly felt in neighboring countries like Tajikistan, Uzbekistan, and Afghanistan. Residents in upper Punjab and various parts of Khyber Pakhtunkhwa quickly took to social media to report the tremors. According to the National Seismological Centre in Islamabad, the earthquake had a…
Islamabad, Apr 16, 2025: K-Electric’s (KE) proposed two large-scale solar projects—one with a capacity of 150 MW at Deh Metha Gar and the other with 120 MW at Deh Halkani, both located in Sindh—recently underwent hearings conducted by the National Electric Power Regulatory Authority (NEPRA). KE’s extensive vision to incorporate 1,300 MW of renewable energy into its power generation by 2030 aims to significantly reduce dependence on imported fuel and make energy more affordable for consumers, as stated by the utility. Although, The Deh Metha Gar and Deh Halkani projects have achieved the lowest tariff bids within Pakistan’s renewable energy…
Islamabad, Apr 16, 2025: In a major move to promote electric mobility in Pakistan, the federal government has successfully obtained approval to lower the base electricity tariff for electric vehicle (EV) charging stations. The National Electric Power Regulatory Authority (NEPRA) recently decided to significantly reduce the revised rate to Rs 23.57 per unit, down from the previous Rs 45.55 per unit. The reduction of Rs 21.98 per unit aims to make EV charging more affordable and accessible for the public. Additionally, NEPRA has also greenlit the removal of the previously fixed capped margin of Rs 24.44 on EV charging stations.…
Islamabad, Apr 15, 2025: The Securities and Exchange Commission of Pakistan (SECP) has put forward proposed revisions to the Companies Regulations, 2024 (the Regulations), with the objective of establishing a centralized Ultimate Beneficial Ownership (UBO) Registry within the corporate sector. Under the suggested revisions, businesses will be obligated to provide UBO data, which they currently gather from shareholders to the Commission via the eZfile portal, alongside other pertinent regulatory forms and filings. This data will be accessible to Financial Institutions whenever necessary. As a result of coordinated efforts by key stakeholders, Pakistan successfully exited the Financial Action Task Force (FATF)…
Islamabad, Apr 15, 2025: In a major development for regional air connectivity, Uzbekistan Airways has announced the commencement of non-stop flights between Tashkent and Islamabad, set to begin on May 24, 2025. This strategic move aims to strengthen diplomatic, commercial, and tourism ties between Uzbekistan and Pakistan. The Embassy of Uzbekistan shared that this initiative will promote bilateral cooperation, ease travel, and open up new opportunities for businesses and travelers alike. The direct route is expected to boost tourism, enhance people-to-people contacts, and facilitate smoother trade exchanges across borders. Uzbekistan Airways and the Uzbek diplomatic mission in Islamabad are introducing…
Islamabad, Apr 15, 2025: A major security warning has been issued by the National Computer Emergency Response Team (NCERT) regarding a serious zero-day flaw found in Google Chrome, listed under CVE-2025-2783. This critical weakness is currently being weaponized in targeted cyberattacks, including one named “Operation ForumTroll.” Cybercriminals are actively using this vulnerability to bypass Chrome’s built-in security defenses. By simply visiting a compromised or malicious website, users could unknowingly allow attackers access to their systems. Cyber attackers have especially targeted institutions in the education sector, government bodies, and media organizations. Security specialists have outlined that this flaw can lead to…
Islamabad, Apr 15, 2025: The Adiala Road Flyover project, with a budget of Rs. 2.113 billion, is unlikely to meet its revised deadline of April 15, set by the Punjab government. Currently, only 65% of the construction has been finished. Reasons for the Delay The project is now expected to reach completion by the end of May. More than 30% of the project remains unfinished, with only 15 girders installed on the flyover’s supporting pillars. Once the construction team places the remaining girders, they will begin the testing phase, which is expected to take roughly a week. The official pointed…
