The government’s agreement to purchase power from a generation project was prematurely terminated on Thursday, according to Hub Power Company Ltd., Pakistan’s largest private utility. The move follows a statement made by Power Minister Awais Leghari to Reuters last month that the government was renegotiating agreements with independent power producers (IPPs) to lower electricity tariffs as household and business expenses soar. The company informed the Pakistan Stock Exchange in a notice that the government and market operator, the Central Power Purchasing Agency (CPPA), agreed to settle the company’s outstanding receivables until October 1. It stated that in an action taken…
Author: Raja Zahid Khanzada
The JPP is a non-profit legal action firm with its headquarters in Lahore that fights for the most vulnerable Pakistani prisoners who are facing the most severe punishments at home and abroad. The third edition of the non-profit organization’s annual report, titled Death Penalty in Pakistan: Data Mapping of Capital Punishment in honor of the 22nd International Day Against the Death Penalty. In Pakistan, there were 6,161 people awaiting execution, up from 6,039 in 2023, according to the report. With 2505 inmates, Punjab had the highest number, followed by KP with 2311. The number stood in contrast to previous patterns,…
On Thursday, Finance Minister Muhammad Aurangzeb said that companies evading sales tax were to blame for 50% of the tax leakage that the government had previously estimated to be Rs7 trillion. Together with FBR Chairman Rashid Langrial, the finance minister addressed a press conference in Islamabad and stated that he wanted to address the “war on tax fraud” by raising the tax-to-GDP ratio to 13 percent. He stated, “It is crucial that we incorporate you all and have a discussion based on facts.” This is certainly not a 10,00 feet level conversation — this is definitely not a profound conversation.”…
Before a three-day gathering being organized by the Pashtun Tahaffuz Movement (PTM), which was recently banned, a grand jirga named Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur to resolve peace-related issues in the province. The PTM was banned by the federal government on Sunday because it posed a threat to national security and peace. On Tuesday, the KP government issued a public warning against any association and prohibited its officials and employees from participating in the three-day Pashtoon Qaumi Jirga, also known as the Pashtun Qaumi Adalat. Section 144 was also imposed on the district by retired Captain Sanaullah Khan,…
Safoora Taimur, the victim, was attacked on Wednesday as she was walking to school. The unidentified man who had been following her pulled out a gun and shot her in the head, according to police, about 7:30 in the morning. The assailant then fled the scene with her phone after the shooting. Safoora Taimur died instantly when she fell to the ground. Several news channels showed footage from a CCTV camera that showed the suspect following the teacher for some time. Before the fatal attack, the victim, who appeared to be aware that he was being followed, turned to look…
A spokesperson for the Chinese foreign ministry, Mao Ning, stated that she was unaware of reports that Pakistani authorities were attempting to restrict the movements of Chinese citizens during the SCO meeting next week due to a security risk posed by militant groups targeting them. Ning made this comment amid reports that Pakistani authorities had made that decision, citing three security officials and an internal security note. The Chinese Embassy in Pakistan said in a statement on Monday that two of its citizens had died, one had been injured, and that there had been “some local casualties.” Head of the…
Following Sean “Diddy” Combs’ arrest on charges of sex trafficking, Hailey Bieber shared a throwback picture of her husband, Justin Bieber. The picture seemed to convey a subtle message. The 27-year-old model shared a photo from 2017 in Queensland, Australia, in which the 30-year-old “Peaches” singer was giving the middle finger to paparazzi. On Monday, she posted the image with the caption “Mood” to her Instagram Story. At the time, Justin, who was standing on Makepeace Island, which he had rented from Sir Richard Branson for his stay and was wearing striped swim trunks and no shirt, told the media…
The 130-member delegation was greeted by Musadik Malik and Jam Kamal Khan, among other ministers, at the Noor Khan Airbase. On Wednesday, a high-level Saudi delegation led by the Kingdom’s Investment Minister, Khalid bin Abdulaziz Al-Falih, arrived in Islamabad for a three-day visit to finalize $2 billion in business-to-business (B2B) investment proposals. The 130-member delegation was greeted at the Noor Khan Airbase by Ministers Musadik Malik of Petroleum and Jam Kamal Khan of Commerce. Representatives from a variety of industries, including energy, mining, minerals, agriculture, business, tourism, industry, and labor, make up the delegation. This diplomatic trip, which comes before…
The Pakistani rupee has fluctuated modestly in relation to important foreign currencies. The current exchange rate for buying USD is Rs278.50, and the current exchange rate for selling USD is Rs279.75. The British pound (GBP) currently trades at Rs361.50 for buying and Rs365.10 for selling, a slight increase from its previous rates of Rs360.90 for buying and Rs364.50 for selling. For buying and selling, the Euro (EUR) is currently worth Rs302.85 at Rs305.85. The UAE Dirham (AED) is traded at Rs75.35 for buying and Rs76.10 for selling in the Gulf region, while the Saudi Riyal (SAR) is traded at Rs73.50…
On Wednesday, the Pakistan Stock Exchange experienced a significant uptick, causing the KSE-100 index to reach an intraday high of 86,146 points. This is the third day in a row that there have been gains, which have been fueled by expectations of lower interest rates and foreign investment. The KSE-100 index gained 254 points at the start of the market, quickly reaching a new high of 85,918 points. The index increased by 484.83 points during the session, surpassing the previous record of 86,000 points. The rally is attributed to a variety of factors, such as anticipated interest rate cuts and…
