Islamabad, November 19, 2024 – The Economic Coordination Committee (ECC) of the Cabinet has approved a winter package designed to increase electricity demand while reducing the country’s reliance on natural gas during the colder months.
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PM Shehbaz Orders Crackdown on Sugar Sector Tax Evasion
Islamabad, November 19, 2024 – Prime Minister Muhammad Shehbaz Sharif has directed a coordinated effort by the Federal Board of Revenue (FBR), Federal Investigation Agency (FIA), and Intelligence Bureau to address tax evasion, undocumented sugar sales, and price manipulation in the sugar sector.
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November Inflation in Pakistan Expected to Hit Record Low
Karachi, November 19, 2024 – Pakistan’s headline inflation, based on the Consumer Price Index (CPI), is projected to drop to a 78-month low for November 2024, according to analysts at Topline Securities Limited.
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Defence Minister Opens IDEAS 2024 Expo in Karachi
The 12th edition of the International Defence Exhibition and Seminar (IDEAS 2024) kicked off at the Karachi Expo Centre on Tuesday, with Federal Minister for Defence and Defence Production, Khawaja Muhammad Asif, formally inaugurating the event. The exhibition, which runs until November 22, 2024, has attracted over 350 high-level delegations from 55 countries, making it a key regional event for the global defence industry.
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Pakistan Gets $500M ADB Loan for Climate Adaptation Program
Islamabad, November 19, 2024 – Pakistan and the Asian Development Bank (ADB) formalized a $500 million loan agreement on Tuesday under the Climate and Disaster Resilience Enhancement Program (CDREP), signaling a significant step toward addressing the country’s climate challenges and disaster vulnerabilities.
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Senate Opposes VPNs Blockage, Warns of $400M Freelancer Loss
The Senate Standing Committee on Information Technology and Telecommunication has strongly opposed the proposed blockage of Virtual Private Networks (VPNs) from November 30, citing potential losses of $400 million in IT remittances. The committee, chaired by Senator Palwasha Mohammad Zai Khan, criticized the move as illegal, noting no law permits blocking such technology.
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Weekly SPI Inflation Increases by 0.55%
Islamabad, November 15, 2024 – The Sensitive Price Indicator (SPI), which measures weekly inflation, recorded an increase of 0.55% for the week ending November 14, 2024, according to the Pakistan Bureau of Statistics (PBS). The rise reflects notable price hikes in essential commodities, impacting households across the country.
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PM Shehbaz Urges Nation to Pray for Rain Relief
Islamabad, November 14, 2024 – Prime Minister Shehbaz Sharif on Thursday appealed to the public to observe Namaz-e-Istisqa, or prayers for rain, across the nation, urging citizens to seek Allah Almighty’s mercy to ease the prevailing dry conditions. The Prime Minister’s call emphasizes the importance of collective prayers in mosques throughout the country to invoke divine intervention for rain amid growing environmental concerns.
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First-Ever Direct Cargo Vessel Arrives in Bangladesh from Pakistan
Chittagong, November 13, 2024 – In a historic development, a direct cargo vessel from Karachi, Pakistan, docked at the port of Chittagong, Bangladesh, marking the establishment of the first-ever direct maritime link between the two neighboring countries. This pioneering route is anticipated to significantly enhance logistical efficiencies, streamline supply chains, and reduce transit times between Pakistan and Bangladesh, fostering closer trade ties in the region.
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Pakistan Set to Escalate Petroleum Prices from November 16
Islamabad, November 13, 2024 – Pakistan is preparing to implement another surge in petroleum prices, marking the second increase within November, as reported by official sources. This anticipated adjustment, effective from November 16, 2024, is driven by escalating premiums on petroleum products in the global market, which have significantly raised import costs and strained domestic resources.
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