KARACHI: The suspension of production by Millat Tractors Ltd (MTL) has led to the closure or slowdown of operations at parts vendors, potentially resulting in worker layoffs. MTL’s production halted after assembling and selling fewer than 1,000 units in August, attributed to uncertainties surrounding GST refund mechanisms following the imposition of a 10% GST on tractor sales from July 1, 2024. The Federal Board of Revenue (FBR) has yet to establish a system to differentiate between farmers, who are subject to the 10% GST, and non-farmers, who face an 18% GST. This lack of clarity is affecting operations. Bolan Castings…
Author: Hasnain Abid Khanzada
ISLAMABAD: Senators at a house committee meeting on Friday raised concerns about meeting the 7% export target set for the automotive industry, citing the potential failure of locally-made vehicles to meet international standards. The Senate Standing Committee on Industries and Production, chaired by Aon Abbas, established a three-member sub-committee led by Saifullah Sarwar Khan Nyazee to review the country’s electric vehicle (EV) policy. Officials reported that following the government’s export target of 7% for 2024-25, companies obtained a court stay order, claiming they could not meet the target. Senator Saleem Mandviwalla expressed regret over the subpar quality of domestic vehicles,…
ISLAMABAD: Pakistan has requested Saudi Arabia to increase its lending by approximately $1.5 billion, raising its total exposure from $5 billion to $6.5 billion, to help address the external financing gap required for the IMF’s 37-month bailout package pending executive board approval. According to informed sources, all three key bilateral partners—Saudi Arabia, China, and the UAE—must confirm their $12 billion loan rollovers to Pakistan through their executive directors at the IMF. In response, the Pakistani government has established a finance minister-led committee, including Power Minister Awais Leghari and Minister of State Ali Pervez Malik, to advance negotiations with Chinese authorities…
ISLAMABAD: For the third consecutive fortnight, the prices of major petroleum products—petrol and high-speed diesel (HSD)—are projected to decrease by approximately Rs5-6 per litre starting September 1. This decline is attributed to lower international market prices. Sources indicate that the prices of petrol and HSD fell by $2 to $2.30 per barrel in the past fortnight. Based on the final exchange rate and current tax rates, a reduction of Rs5 to Rs5.50 per litre is anticipated for both products. Currently, the average price of petrol on the international market is around $80.40 per barrel, down from $82.50 per barrel. HSD…
ISLAMABAD: The Supreme Court on Friday expressed regret over the flawed investigations and prosecutions in a high-profile case, which it said had caused suffering to both the accused and the victims’ families and left the crime unaccounted for. Chief Justice of Pakistan (CJP) Qazi Faez Isa, leading a five-judge Shariat Appellate Bench, noted that better work by investigators and prosecutors could have avoided the “travesty.” The bench, including Justices Naeem Akhtar Afghan, Shahid Bilal Hassan, Dr. Mohammad Khalid Masud, and Dr. Qibla Ayaz, reviewed an appeal by Imran aka Mani challenging a Federal Shariat Court (FSC) order upholding a 2004…
ISLAMABAD: An official report released on Friday has categorized Pakistan’s education system as performing at a “low” level and highlighted critical areas needing improvement to enhance education outcomes. The District Education Performance Index (DEPIx) Report 2020-23, published by the Planning Commission, indicates that Pakistan’s national average score in the DEPIx is 53.46, placing the country in the “low” performance category. Among the five domains assessed, “infrastructure and access” scored the highest at 58.95, showing some progress in expanding educational opportunities. The “inclusion” domain, which covers equity and technology, followed as the second-highest. The report revealed that “public financing” received the…
ISLAMABAD: The United Nations has called on Pakistan to ratify the International Convention for the Protection of All Persons from Enforced Disappearance and allocate sufficient human, technical, and financial resources to develop and implement measures aimed at preventing and addressing enforced disappearances, particularly among ethnic minority groups. During a meeting in Geneva on Friday, the UN Committee on the Elimination of Racial Discrimination released its findings on Pakistan, urging the government to take all necessary actions to investigate and prosecute reports of enforced disappearances involving ethnic and ethno-religious leaders, politicians, public officials, and human rights defenders. The Committee emphasized that…
ISLAMABAD: The United Nations Development Programme (UNDP) has successfully wrapped up a $3.7 million initiative aimed at enhancing disaster preparedness and response in Pakistan’s coastal areas, focusing on reducing tsunami risks and mitigating their impact on coastal communities. The project, titled “Strengthening Tsunami and Earthquake Preparedness in Coastal Areas of Pakistan,” was completed in collaboration with the Economic Affairs Division and the Provincial Disaster Management Authorities (PDMAs) in Sindh and Balochistan, with support from Japan. This initiative has significantly bolstered disaster readiness and resilience in the coastal communities of Malir and Keamari in Sindh and Gwadar in Balochistan. Key achievements…
ISLAMABAD: The UK immigration system is moving towards a fully digital format, eliminating the need for physical documents such as Biometric Residence Permits (BRPs), vignette stickers, and ‘wet ink stamps,’ announced the British High Commission (BHC) on Friday. Under the new system, individuals granted a visa to stay in the UK for more than six months—such as for work or study—will need to create a UKVI online account to access their eVisa, which will serve as their online immigration status record. Those with visas for less than six months, like tourists, will not need to create a UKVI account. High…
ISLAMABAD: Imran Khan, former Prime Minister and PTI leader, announced on Friday that the party’s highly anticipated August 22 rally in Islamabad has been postponed to September 8. This decision was made to prevent a repeat of the May 9 violence. Speaking to the media after a court session related to a £190 million corruption case at Adiala Jail, Khan explained that his meeting with Azam Khan Swati on August 22 was to discuss planned protests by other political and religious parties in Islamabad on the same day. Khan dismissed suggestions that Swati acted as an intermediary with government officials,…
