The federal government has decided to transfer Rs50 billion to the provincial government of Sindh for executing its emergency housing project. According to sources, the decision was taken in a recent meeting of the Economic Coordination Committee (ECC) of the cabinet. The Ministry of Planning, Development and Special Initiatives proposed that an amount of Rs30 billion allocated in the budget
The government, led by Minister for Planning, Development, and Special Initiatives Ahsan Iqbal, is accelerating the development of Islamabad's Information Technology Park to establish it as a regional IT hub. In a progress meeting with officials, including Korea's Ambassador to Pakistan, Park Kijun, Iqbal emphasised advancing this project in line with the prime minister's vision. Spanning 66,89
The National Electric Power Regulatory Authority (Nepra) has approved a reduction in electricity rates of up to Rs1.28 per unit on account of fuel charges in September 2024. According to Nepra's statement, the Central Power Purchasing Agency Guarantee Limited (CPPAG) had initially submitted a request for a 71 paisa per unit reduction in fuel charges. The regulator conducted a public hearing on the
Public sector employees hired from the next fiscal year onward will no longer be eligible for state-funded pensions upon retirement, as part of significant pension reforms, Finance Minister Muhammad Aurangzeb announced on Wednesday. Speaking to the media on the sidelines of 'The Future Summit - What Matters Now,' Aurangzeb explained that, under the reforms, employees will contribute from their
After a strong start following an overnight record closing, the stock market tumbled on Wednesday as equity investors became unsettled by the election of Donald Trump as the 47th president of the United States, pushing the KSE 100 index into the red. Talking to Dawn, Tahir Abbas of Arif Habib Ltd said a section of investors indulged in profit-taking after Trump’s win, fearing a change of polici