Pakistan Petroleum Dealers Association (PPDA) Chairman Abdul Sami Khan has expressed serious concerns over the amendment to the Petroleum Act 1934, followed by the rising smuggling of petroleum products and a network of illegal petrol pumps. Addressing a press conference at the Karachi Press Club (KPC) on Saturday along with PPDA members, he said one of the main amendments relates to granting u
The country has unveiled its first Power Equipment Manufacturing Dashboard, a real-time digital tool to monitor localisation progress, assess vendor capacity and identify strategic investment opportunities under the Power Sector Indigenisation Plan (PSIP). The launch took place during the National Consultative Workshop on the Power Sector Indigenisation Roadmap, organised by the
A World Bank study says the General Sales Tax (GST) has the largest marginal contribution to the national poverty increase, while GST payments account for over 7 per cent of households’ pretax expenditure, which leads to further impoverishment among poor and vulnerable households. The Effects of Taxes and Transfers on Inequality and Poverty in Pakistan says the GST has the largest negative
In a significant development, the International Monetary Fund (IMF) and Pakistani authorities have reached a preliminary agreement on a comprehensive financial framework, paving the way for continued negotiations on the budget for fiscal year 2025-26. Officials in the finance ministry indicate that discussions are set to advance in the coming days, with the goal of finalising crucial fiscal pol
In a groundbreaking move to transform Pakistan into a global leader in digital innovation, the government has announced the allocation of 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power Bitcoin mining and artificial intelligence (AI) data centres. The government recently decided to legalise cryptocurrency to lure international investment in Pakistan. The