Islamabad, October 22, 2024 – The Pakistan Meteorological Department (PMD) issued a warning on Tuesday, highlighting that the next two weeks will be crucial for dengue cases across the country due to favorable atmospheric conditions. According to the PMD, while dengue cases are expected to decrease in November, the prevailing weather in the short term could contribute to a rise in infections.
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Pakistan Sets Bold Path to Interest-Free Banking by 2028
Pakistan is on the cusp of a historic shift in its financial landscape as the newly-passed 26th Constitutional Amendment Bill, 2024, sets January 1, 2028, as the deadline to eliminate Riba (interest-based banking) from the country’s economic system.
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Updated Petroleum Prices in Pakistan from October 16, 2024
ISLAMABAD, October 16, 2024 – In a significant move, Pakistan has announced a revision in petroleum prices, marking the second adjustment for October. This revision comes as part of the government’s ongoing effort to align domestic fuel prices with fluctuating international market rates. The new prices take effect from October 16, 2024.
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PM Shehbaz Announces Termination of Agreement with Five IPPs
Islamabad, October 10, 2024 – In a decisive move, Prime Minister Shehbaz Sharif on Thursday announced the termination of power purchase agreements with five Independent Power Producers (IPPs), a landmark decision aimed at alleviating the financial burden on the nation’s electricity consumers.
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Cabinet Approves ISMO Setup for Low-Cost Electricity
Islamabad, October 9, 2024 – In a transformative step towards revolutionizing Pakistan’s electricity market, the Cabinet Committee on Energy has officially approved the establishment of an Independent System and Market Operator (ISMO).
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Petrol Prices in Pakistan Plunge by 23.51% Over Past Year
Islamabad, October 4, 2024 – Pakistan has witnessed a sharp decline in petrol prices, with the cost per liter plunging by a staggering 23.51% over the past year, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. This marked reduction comes as a welcome respite for consumers amid fluctuating global oil markets and domestic economic pressures.
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Unclear Tax Liability Becomes Major Obstacle in PIA Privatization
ISLAMABAD: The privatization of Pakistan International Airlines (PIA) has encountered a significant setback as unresolved tax liabilities and labor issues have deterred pre-bidding parties from moving forward.
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Pakistan Sets Diyat at Rs 8.10 Million for Fiscal Year 2024-25
Islamabad, October 3, 2024 – The Government of Pakistan has officially announced the amount of diyat (compensation) for the fiscal year 2024-25, setting it at Rs 8.10 million. This figure, equivalent to the value of 30,630 grams of silver, was confirmed by the Ministry of Finance through a circular issued on October 2, 2024.
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Pakistan, Malaysia Vow to Strengthen Bilateral Ties in Key Sectors
Islamabad, October 3, 2024 – Pakistan and Malaysia reaffirmed their commitment to further bolster bilateral cooperation in key sectors including trade, economy, banking, food technology, and agriculture. This pledge was made during a high-profile meeting between President Asif Ali Zardari and the visiting Malaysian Prime Minister Dato’ Seri Anwar Ibrahim at Aiwan-e-Sadr. The meeting, attended by senior Pakistani officials and ministers, focused on fortifying strategic partnerships between the two nations.
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Pakistan’s Petroleum Sales Surge by 20% YoY in September 2024
Karachi, October 1, 2024 – Pakistan’s petroleum sales witnessed a significant surge of 20% year-on-year (YoY) in September 2024, reaching a total of 1.27 million tons, according to data released by analysts at Arif Habib Limited.
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