Author: Our Correspondent

By our correspondent ISLAMABAD: Federal Information Minister Ataullah Tarar has vowed that the attempts by a small group of terrorists to destabilize Pakistan will fail, and that the ‘Fitna-e-Hindustan’ (India’s mischief) in Balochistan will be eliminated at any cost. Speaking at a press conference in Islamabad, Tarar said Pakistan responded responsibly to Indian aggression, with India’s narrative facing defeat on every front. Ataullah Tarar credited Field Marshal Asim Munir’s strategy for the success, saying divine support was with Pakistan in all battles. “We have defeated India not just militarily but diplomatically as well,” he said, praising the efforts of Deputy…

By our correspondent ISLAMABAD: A delegation from the Muttahida Qaumi Movement-Pakistan (MQM-P) met Prime Minister Shehbaz Sharif to discuss the upcoming federal budget and push for key development demands, the party said in a statement on Wednesday. According to the MQM-P spokesperson, the meeting focused on the country’s broader economic challenges as well as region-specific concerns, with a particular emphasis on Karachi and other urban centers in Sindh. During the talks, MQM-P urged the federal government to allocate Rs25 billion for Karachi and Rs10 billion for Hyderabad in the new fiscal year’s development package. The delegation also called for special…

By our correspondent ISLAMABAD: The Asian Development Bank (ADB) has approved a significant financial package of $800 million to support Pakistan’s ongoing economic reforms, signaling continued international confidence in the country’s efforts to stabilize and grow its economy. The agreement, recently signed in Islamabad, comprises a $300 million loan dedicated to enhancing resource utilization through targeted structural reforms. This loan forms part of a broader $800 million program, which also includes a $500 million policy-based guarantee from the ADB, designed to back the government’s reform agenda and provide fiscal assurance. Dr Kazim Niaz, Secretary of the Economic Affairs Division, represented…

By Zahid Karani KARACHI: The Pakistan Tanners Association (PTA) has expressed optimism over the upcoming federal budget, hoping for an export-friendly framework that could help the leather sector achieve $2 billion in exports under the Uraan Pakistan program. PTA Chairman Hamid A. Zahur outlined key budget proposals and raised concerns over recent tax policy developments impacting the industry. The association has recommended that the export sector remain under the original fixed tax regime, while proposing an increase in turnover tax from 1% to 1.5% to boost government revenue. Zahur urged the government to avoid shifting exporters to the final tax…

The government aims to curb illicit practices while modernizing payment systems, transforming a sector essential to everyday life and the nation’s commerce By our correspondent ISLAMABAD: The government is set to introduce significant measures aimed at encouraging digital transactions and reducing tax evasion in the upcoming Finance Bill. A key part of this strategy involves discouraging cash payments by imposing additional charges on certain purchases made with cash, signaling a determined effort to bring more financial activity into the formal economy. One of the most notable proposals is an added charge of up to Rs3 per liter on petrol bought…

By our correspondent KARACHI: The Power Division has formally approached the National Electric Power Regulatory Authority (NEPRA) with a request to revisit the existing tariff structure of K-Electric, signaling growing concern at the highest levels over the company’s performance and financial sustainability. The move reflects the government’s broader push to instill greater accountability and efficiency across the power sector. Federal Minister for Power, Owais Leghari, was unequivocal in his message, stating that the power sector can no longer afford to accommodate inefficiencies—whether they originate from public institutions or private operators. In a clear warning, he said that relying on repeated…

By our correspondent ISLAMABAD: Federal Planning Minister Ahsan Iqbal has announced the cancellation of 118 development projects worth around Rs1 trillion, in a bid to save Rs100 billion immediately. Speaking to reporters in Islamabad, he said the government would now prioritise the completion of key infrastructure initiatives, including the Hyderabad-Sukkur Motorway, within the next three years. Iqbal confirmed that Rs1 trillion has been earmarked for development in the upcoming fiscal year, with Rs250 billion allocated specifically for Balochistan. However, the overall development budget is Rs10 billion less than last year’s figure, reflecting the country’s ongoing financial constraints. Among the strategic…

By our correspondent ISLAMAABD: Federal Minister for Railways Muhammad Hanif Abbasi has announced the operation of five special trains on Eid ul Adha to facilitate holiday travelers. Speaking to the media in Islamabad, Abbasi said the decision was part of broader efforts to revive and modernize Pakistan Railways. Hanif Abbasi revealed that the department’s annual revenue has reached Rs83 billion, with Rs42 billion generated from passenger services, Rs29 billion from freight, and Rs13 billion from other sources. He added that the railway is independently paying its employees’ salaries and is currently producing 1,413 new wagons. He further announced a new…

By our correspondent ISLAMABAD: Members of the Senate Standing Committee on IT and Telecom voiced serious reservations regarding the National Crypto Council, questioning its legal framework and authority during a recent committee meeting chaired by Palwasha Khan. Senators Humayun Mehmood and Kamran Murtaza were particularly critical. Kamran Murtaza asked whether the parliament had been consulted on the council’s formation and if it had any legal backing, stressing that every council requires legislative support. Humayun Mehmood challenged whether the prime minister’s executive order alone could establish such a body and argued that the crypto council’s mandate should lie with the IT…

Chairing a key meeting of the Prime Minister-appointed committee, Akhtar stressed the urgent need to align Pakistan’s legal frameworks with global norms to attract investors By our correspondent ISLAMAABD: In a clear signal of the government’s renewed drive to stabilise the economy and regain investor trust, Special Assistant to the Prime Minister Haroon Akhtar has announced an ambitious legal reform agenda aimed at overhauling Pakistan’s investment climate. Central to this effort is the proposal for a new and improved bankruptcy law, which officials believe will lay the groundwork for a more secure and attractive environment for foreign and local investors…