Author: Admin

Govt May Miss Rs1.16tr Petroleum Levy Target Amid Oil Price Surge Following Israel-Iran Conflict

Admin
oil and gas

ISLAMABAD: The federal government is likely to miss its revised petroleum levy (PL) target of Rs1,161 billion for FY2024-25, as surging global oil prices — triggered by Israel’s recent attacks on Iran — drive up local fuel costs and dampen consumption. Following the attacks, international petrol prices climbed by \$1.98 per barrel to \$73.79, while high-speed diesel (HSD) rose by \$2.54 per barrel to \$78.68. This could translate into a domestic hike of Rs4.38 per litre for petrol and Rs5.02 for HSD from June 16, 2025. Petrol and HSD costs…

Read More

Consumers Demand Audit of Power Firms Ahead of Rs455bn Tariff Hike

Admin
New-NEPRA

ISLAMABAD: Electricity consumers have urged the National Electric Power Regulatory Authority (Nepra) to conduct a comprehensive audit of power distribution companies (DISCOs) before approving their request to recover Rs455 billion through increased tariffs. During a public hearing held by Nepra on Friday, stakeholders criticized the lack of transparency in the interim tariff applications submitted by eight DISCOs under the multiyear tariff (MYT) regime for FY2025-26 to FY2029-30. Karachi Chamber of Commerce and Industry (KCCI) representative Tanveer Bari emphasized the need for DISCOs to disclose their investment plans, highlighting that many…

Read More

KP Unveils Rs2.12 Trillion Tax-Free Budget with Record Development Outlay and Salary Hikes

Admin
KP-Budget

PESHAWAR: The Khyber Pakhtunkhwa (KP) government on Friday announced a Rs2.119 trillion tax-free budget for FY2025-26, featuring a record Rs547 billion development outlay, a projected cash surplus of Rs157 billion, and a minimum wage increase to Rs40,000. Finance Minister Aftab Alam Afridi presented the budget in an unprecedented session requisitioned by the government after Governor Faisal Karim Kundi withheld approval for its convening — a rare move in the province’s legislative history. The budget includes a 10% salary hike for government employees and a 7% rise in pensions. No new…

Read More

Sindh Presents Rs3.45 Trillion Budget for FY2025-26 Amid Opposition Uproar

Admin
Sindh-BUDGET

KARACHI: Amid vociferous protests from opposition lawmakers, Sindh Chief Minister Syed Murad Ali Shah on Friday unveiled a Rs3.451 trillion deficit budget for the fiscal year 2025-26 — marking a 12.9% increase over last year’s outlay of Rs3.056 trillion. The budget includes a 12% salary increase for government employees in grades BS-1 to BS-16, a 10% raise for officers in BS-17 to BS-22, and an 8% hike in pensions. Lawmakers’ salaries are also set to align with those of other provincial assemblies starting July. Presenting what he termed a “relief-oriented”…

Read More

Tel Aviv Hit by Iranian Missile Strikes

Admin
telaviv attack

Central Tel Aviv was impacted by ballistic missiles fired from Iran on Friday, after Israel said it had detected dozens of missiles launched from Iran and was working to intercept them. Israeli paramedics said they were treating five injured people and Israeli officials urged people to take shelter. Israeli Defense Minister Israel Katz said Iran had “crossed a red line” by firing missiles at populated civilian areas in Israel. Supreme Leader Ayatollah Ali Khamenei earlier said Israel “should expect severe punishment” for Israel’s wide-ranging attack on the country’s nuclear program…

Read More