ISLAMABAD: At a candid diplomatic gathering, Norwegian Ambassador to Pakistan Per Albert Ilsaas tackled the issue of perceived western double standards in international conflicts, focusing on Ukraine and Palestine. “Western outrage over Ukraine is often seen as selective,” Per Albert Ilsaas noted, reflecting on frequent conversations with Pakistani colleagues and media commentary. Critics argued that the West’s vehement response to Russia’s actions in Ukraine contrasted starkly with its more muted reactions to Israel’s longstanding occupation of Palestinian territories and recent military actions in Gaza. The comments came at a garden party at the residence of the Norwegian ambassador to mark…
Author: WebDesk
Next week, a significant update to Tesla’s Full Self-Driving (FSD) technology is anticipated. Elon Musk, the CEO, stated it will be amazing but provided little further information. Eliminating the steering wheel reminder that prompts drivers to touch the wheel is one significant adjustment. Rather than this, Tesla will utilize a camera within the vehicle to determine whether the driver is focused. As of right present, Tesla’s system alerts drivers to check their focus every minute. However, because they have to do this so frequently, some individuals find it bothersome. Drivers who glance away from the road for longer than three…
To stop money laundering and financing of terrorism, the federal government has decided to limit the usage of cash and enact reforms in the real estate industry. According to a private television channel, these choices were taken during a meeting held in the first week of May by the National Anti-Money Laundering and Counter Financing of Terrorism Authority, which was presided over by Ahmed Sukera. Ehsan Sadiq, a BPS-21 official, was also named director general of the Authority during the meeting. After the pertinent rules and regulations are finalized, permanent staff will be hired to operationalize the authority, with other…
PESHAWAR: “The Impact of Climate Change on Horticulture Crops in KPK and Way Forward,” a webinar hosted by the Pakistan Horticulture Development & Export Company (PHDEC), was educational. The fact that growers, processors, researchers, and academics made up the diverse audience at the event highlighted how urgent it is for the horticultural industry to confront climate change. The World Bank (WB) and Asian Development Bank (ADB) jointly conducted a study that revealed Pakistan would suffer annual economic losses of up to $3.8 billion as a result of climate change. This led to the organization of the webinar. The northern regions,…
Over the next three months, the government intends to accrue Rs5.33 trillion in domestic debt, which will put increased inflation and the difficulty of debt repayment on the country. The fact that many wealthy people are missing from the taxpayer list makes the matter worse. Data from the State Bank of Pakistan (SBP) indicates that the government will use a portion of the planned borrowing to pay down maturing old debt, totaling Rs2.59 trillion between May and July 2024. This might result in an increase in total debt and liabilities of a net Rs2.69 trillion during this time. To put…
Pakistan has formulated a proposition to encourage a reevaluation of the $15.4 billion energy debt owed to China with the aim of reducing domestic electricity rates. According to Express Tribune, the government intends to extend the repayment period for debts, which could result in a reduction of foreign currency outflows to $750 million annually and a reduction of energy prices by Rs. 3 per unit. Further information indicates that Pakistan is seeking a five-year extension to repay its energy debt to China. By 2040, the aggregate payment to China would have increased by $16.6 billion, or an additional $1.3…
According to the Import Policy Order, 2022, it is permissible to import vehicles under the Personal Baggage, Transfer of Residence, or Gift schemes exclusively for expatriate Pakistanis who have not imported, gifted, or received a vehicle within the previous two years. The Federal Board of Revenue (FBR) has provided the Federal Tax Ombudsman (FTO) with a report concerning the issue of vehicle certification delays caused by Pakistanis residing abroad and the improper utilization of immigration data. It has been suggested that passport data becomes accessible subsequent to GD filing, which is then sold openly on the market by a select…
To incentivize consumers to transition back to prohibitively expensive grid electricity and deter solar usage, the federal government has made the decision to eliminate solar net metering and substitute it with a gross metering system. The Ministry of Energy has notified the International Monetary Fund (IMF) that distribution companies’ (DISCOs) revenues are being significantly diminished by net metering. As reported by the Express Tribune, gross metering will require consumers to transfer all of the electricity generated on their rooftops to the grid and then purchase back what they require. Next fiscal year, the government intends to implement gross metering as…
In the midst of prevailing economic optimism, the stock market continued its streak of record-breaking performances for the seventh consecutive session on Friday. Buoyant investors, driven by aggressive value-hunting across various sectors, propelled the KSE 100 index to achieve a historic closing above 75,000 for the first time. Ahsan Mehanti from Arif Habib Corporation noted that factors such as the current account surplus of $491 million in April, indicating rising remittances and exports, along with the country’s foreign exchange reserves climbing to $14.62 billion, maintained the market’s bullish sentiment. Additionally, reports suggesting the government’s commitment to securing a five-year extension…
The Meteorological Office that high-pressure systems in the upper atmosphere are expected to induce heatwave conditions across most regions of Pakistan, particularly in Punjab and Sindh, starting from May 21. These conditions are anticipated to escalate into severe heatwaves from May 23 to 27. The forecast predicts daytime temperatures in Sindh and Punjab to be 4 to 6 degrees Celsius above normal between May 21 and 23. Subsequently, temperatures are projected to rise further, reaching 6 to 8 degrees Celsius above normal from May 23 to 27. Islamabad, Khyber Pakhtunkhwa, Kashmir, Gilgit-Baltistan, and Balochistan are also likely to experience above-average…
