Author: Admin

ISLAMABAD: In a befitting response to industrialists’ claims about the erosion of the prime minister’s Rs4.04 per unit tariff relief package, the government on Thursday said it had provided Rs15 billion in free working capital to industry for 90 days and was now seeking to recover it through a Rs1.78 per unit fuel cost adjustment (FCA) in March.“This is not an additional cost. You were given a lower tariff. You enjoyed Rs15bn in free working capital for 90 days. Now cost recovery is being done through the FCA,” said Rehan Akhtar, representing…

PESHAWAR: Pakistan’s sec­urity forces swung into action after Afghan Taliban fighters launched unprovoked attacks along the border between both countries under the cover of darkness, the government said on Thursday night.However, they received “an immediate and effective response” from Pakistan’s security forces, the information ministry said in a statement.The action — dubbed ‘Ope­ration Ghazab Lil Haq’ — continued into the early hours of Friday, and by state media reports suggested the Pakistan Air Force (PAF) had joined the response, targeting Afghan positions, including an ammunition depot in Nangarhar province, inflicting…

Islamabad: A sub-committee of the National Assembly Standing Committee on Power has decided to register FIRs against residents of Hazara Electric Supply Company (HAZECO) allegedly holding company property worth Rs700 million in their homes, officials said on Wednesday. The sub-committee, including Babar Nawaz Khan, Shaikh Aftab Ahmed, Syed Waseem Hussain, and Syed Nosheen Iftikhar, reviewed HAZECO affairs and discussed the alleged retention of company materials such as transformers, wires, and poles. Convener Babar Nawaz Khan stated that a comprehensive report had been received, along with copies of identity cards of…

Karachi/Islamabad: Pakistan is well-prepared for the upcoming review by the International Monetary Fund (IMF) that could unlock a $1.2 billion disbursement, Finance Minister Muhammad Aurangzeb said on Wednesday as an IMF mission began discussions in Karachi. The visiting staff mission will undertake the third review under the Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), according to official statements issued by the IMF and the Ministry of Finance. The IMF delegation, led by Iva Petrova, has arrived in Pakistan and will remain in…