Islamabad, July 14, 2024 – Pakistan is scheduled to review petroleum prices for the second half of July on Monday, July 15, 2024, with new prices taking effect from July 16, 2024.
(more…)Category: Pakistan
-
Pakistan Denounces Attack on Former US President Donald Trump
Islamabad, July 14, 2024 – Pakistan on Sunday vehemently condemned an assault on former US President Donald Trump, who was injured during an election campaign event. This incident, which has shocked the international community, highlights the pervasive dangers associated with political violence.
(more…) -
Pakistan Targets Foreign Entities with New Tax Rules
Karachi, July 14, 2024 – Pakistan has introduced measures through the Finance Act 2024 to capture significant economic presence by non-resident entities in Pakistan, aiming to close tax avoidance loopholes and broaden the tax base.
(more…) -
Petroleum Prices Set to Rise in Pakistan from July 16th
Islamabad, July 13, 2024 – The citizens of Pakistan may be in for some unwelcome news at the pump as petrol and diesel prices are expected to rise significantly in the second half of July. Industry sources suggest an increase effective from July 16th, driven by rising global oil prices.
(more…) -
PM Shehbaz Expresses Satisfaction Over Clinching IMF Loan
Islamabad, July 13, 2024 – Prime Minister Muhammad Shehbaz Sharif expressed deep satisfaction on Saturday following Pakistan’s successful negotiation of a staff-level agreement with the International Monetary Fund (IMF) for a new $7 billion loan program. The agreement, spanning over 37 months, is poised to bolster Pakistan’s economy amidst ongoing financial challenges.
(more…) -
PM Shehbaz Unveils Energy Subsidy for Low-Income Households
Islamabad, July 9, 2024 – Prime Minister Shehbaz Sharif announced on Tuesday a Rs50-billion energy subsidy package aimed at easing the financial burden on low-income households consuming less than 200 units of electricity.
(more…) -
Pakistan Receives $30.25 Billion in Workers’ Remittances in FY24
Karachi, July 9, 2024 – Pakistan received $30.25 billion in workers’ remittances during the fiscal year 2023-24, according to a report by the State Bank of Pakistan (SBP) released on Tuesday. This represents an 11 percent increase compared to the $27.33 billion received in the preceding fiscal year.
(more…) -
Saudi Group Secures Stake, Invests in Retail Oil Sector in Pakistan
Saudi Arabia’s Asyad Holding Group has successfully secured a controlling stake in Shell Pakistan Limited. The Competition Commission of Pakistan (CCP) granted approval for this acquisition, allowing Asyad Holding to acquire a dominant 77.42 percent ownership and control of Shell Pakistan.
(more…) -
Pakistan Strengthens Oversight of Foreign Gifts and Donations
Karachi, Pakistan – July 7, 2024 – The Pakistan government has implemented stricter regulations governing the receipt of foreign gifts and donations by public officials and organizations.
(more…) -
PM Shehbaz Directs Tapping Full Potential of Maritime Trade
Karachi, July 7, 2024 – Prime Minister Muhammad Shehbaz Sharif on Sunday directed the relevant authorities to take special initiatives to tap the full potential of maritime trade and to spur economic growth.
(more…)