ISLAMABAD, Pakistan – May 20, 2025 – Pakistan is planning a significant reduction in import duties over the next five years as part of its National Tariff Policy 2025-30. This strategic move aims to boost industrial growth and exports by fostering a more competitive trade regime. Under the plan, which is set to be initiated in the fiscal budget for 2025-26, the country will streamline its customs duty structure. The number of customs duty slabs will be trimmed from five to four, and the maximum duty rate will be gradually lowered from the current 20% to 15%. Specifically, the existing…
Author: Web Desk
ISLAMABAD, Pakistan – May 20, 2025 – Prime Minister Shehbaz Sharif on Tuesday directed the immediate and effective implementation of ongoing reforms within the Federal Board of Revenue (FBR), placing a strong emphasis on the digitization and automation of the tax system. Chairing a high-level review meeting, the Prime Minister underscored the necessity for decisive action to rectify what he termed “70 years of mismanagement” in the tax system. He stated that while maximum facilitation would be extended to honest taxpayers and legitimate businesses, those involved in tax evasion would face stringent legal action without any concessions. The Prime Minister…
ISLAMABAD, Pakistan – May 20, 2025 – The National Accounts Committee (NAC) announced on Tuesday that Pakistan’s economy grew by 2.4% in the third quarter of the fiscal year ending in June, while also revising upwards the growth prospects for the current fiscal year. In a statement, the committee approved a projection of 2.68% provisional growth in GDP for FY25, which would bring the size of Pakistan’s economy to an estimated $410.96 billion. Brokerage firm Topline Securities, in a note, indicated that the average quarterly growth for the first nine months of FY25 (9MFY25) was estimated at approximately 1.8%. The…
Microsoft has reached an agreement to host Elon Musk’s Grok AI chatbot on its cloud servers. This deal comes just days after Grok garnered significant attention for generating offensive responses, including comments about “white genocide” in South Africa. Despite the controversy, both companies assert that this collaboration will enhance the chatbot’s capabilities and help maintain its appropriate behavior. Speaking at a Microsoft-hosted event, Musk stated that his company’s models “aspire to truth with minimal error,” acknowledging, “There’s always going to be some mistakes that are made.” The Grok chatbot recently ignited controversy by responding to unrelated user prompts with unsubstantiated…
Interlune has unveiled a prototype of its novel moon-mining machine, designed specifically for harvesting helium-3. “When you’re operating equipment on the moon, reliability and performance standards are at a new level,” stated Rob Meyerson, co-founder and CEO of the Seattle-based startup Interlune, as reported by Space.com. The machine is engineered to churn up 110 tonnes (100 metric tons) of lunar dirt, or regolith, per hour to extract helium-3. This isotope is considered a potential fuel source for future fusion reactors due to its rarity on Earth but believed abundance on the moon. “The high-rate excavation needed to harvest helium-3 from…
Spanish telecom company Telefonica announced that ongoing network update works had caused a communication outage affecting fixed landlines for some businesses and the emergency line 112 in certain regions of Spain on Tuesday. The company confirmed that its teams were actively working to restore services, and the emergency lines had already been reinstated. This disruption occurs merely four weeks after Spain and Portugal experienced a catastrophic nationwide power outage that plunged both countries into darkness. According to DownDetector, the networks of all major providers in Spain, including that of Spanish telecom giant Telefonica, are currently down. Customers are reportedly unable…
The Pakistan Cricket Board (PCB) and the Bangladesh Cricket Board (BCB) have successfully reached an agreement following discussions, confirming that the Bangladesh national cricket team will tour Pakistan for a T20I series. This decision was finalized after a detailed meeting in Dubai involving PCB Chairman Mohsin Naqvi and BCB Chairman Nazmul Abedin, alongside BCB President Faruque Ahmed. Initially, a five-match series was planned, but it has now been curtailed to three matches. As per the agreement, Bangladesh will play a three-match T20 International series against Pakistan. All three fixtures are confirmed to be hosted in Lahore. PCB Chairman Mohsin Naqvi…
Pakistan’s promising fast bowler, Kashif Ali, is optimistic that his robust performances in first-class cricket and his maiden stint with English county Kent in the ongoing County Championship will help him solidify a permanent place in Pakistan’s Test team. From making his Test debut in a home series against the West Indies to experiencing county cricket in England for the first time, the 30-year-old describes this period as the most “blessed” phase of his life, both on and off the field. He shared his thoughts exclusively with Geo News at the iconic Lord’s Cricket Ground, following a match between Kent…
The Pakistan baseball team delivered another commanding performance on Tuesday afternoon, decisively defeating India with a lopsided 14-1 score in the West Asia Baseball Cup semifinal held in Karj, Iran. The mercy rule was invoked after seven innings, as Pakistan’s overwhelming lead left no opportunity for an Indian comeback. The defending champions began the game aggressively, scoring five runs in both the first and third innings to establish firm control. Third baseman Hussain led Pakistan’s offensive charge, going 2-for-4 at the plate with two RBIs (runs batted in) and four runs scored. Center fielder Wasim Akram and designated hitter Muhammad…
Surgeons at a hospital in Los Angeles, California, have successfully performed the world’s first human bladder transplant, hospital officials announced. The groundbreaking surgery, which took place on May 4 at Ronald Reagan UCLA Medical Center, represents a promising advancement for other patients who suffer from severe bladder disorders. The recipient of this innovative procedure was Oscar Larrainzar, a 41-year-old father of four. Several years prior, a significant portion of his bladder had been removed due to cancer, as stated by the University of California, Los Angeles, in a Sunday statement. Larrainzar later had both of his kidneys removed due to…
