Lawmakers are raising alarms over a massive National Highway Authority (NHA) contract, accusing the body of awarding a multibillion-rupee road project to a joint venture previously blacklisted for poor performance. The controversy centers on the Carec Tranche-III highway project, worth roughly Rs170 billion and funded by the Asian Development Bank (ADB). Parliamentary committees reviewing the…
In a push to tighten regulation of cash transactions and nudge businesses toward digital payments, the Federal Board of Revenue (FBR) has introduced a Rs200,000 ceiling on cash payments at retail outlets as well as on cash-on-delivery (CoD) purchases in e-commerce. The restriction, outlined in Income Tax Circular No. 02 of 2025-26, extends the same…
Pakistan’s latest Medium-Term Debt Management Strategy (MTDS) for FY2026-28, published by the Finance Division’s Debt Management Office, outlines a new approach to tackle rising debt challenges. The government plans to lean on financial hedging tools to curb foreign exchange volatility while simultaneously broadening domestic debt markets with instruments like futures, swaps, and Sharia-compliant securities. Tackling…
The federal government is preparing to dispatch senior officials to the United States later this month as part of its push to privatise the Roosevelt Hotel, a landmark property in New York owned by Pakistan International Airlines (PIA). According to official documents, a delegation from the Privatisation Commission — including the Prime Minister’s Advisor on…
Pakistan has stepped into a leading role at the ongoing negotiations for a Global Plastics Treaty, pressing for a framework that treats developing nations fairly and ensures they have access to green financing and technology. At the Fifth Session of the Intergovernmental Negotiating Committee on Plastic Pollution (INC-5.2) in Geneva, Pakistan’s Climate Change Minister, Dr….
Pakistan is preparing to launch a nationwide digital tracking system for petroleum products within the next month, a move officials say could help plug revenue leaks worth hundreds of billions of rupees each year. The initiative follows the National Assembly’s approval of the Petroleum (Amendment) Act 2025, which grants authorities new powers to combat fuel…
Pakistan has intensified its online counterterrorism efforts, shutting down hundreds of social media accounts tied to banned militant groups and flagging hundreds more for removal. According to official figures, the National Cybercrime Investigation Agency and the Pakistan Telecommunication Authority (PTA) have identified more than 850 accounts promoting proscribed organisations such as Tehreek-e-Taliban Pakistan (TTP), the…
The National Bank of Pakistan (NBP) released its latest foreign exchange rates on Friday, offering a snapshot of how major global currencies are trading against the Pakistani rupee. Key Movements in Major Currencies Other Notable Rates High-Value Gulf Currency Market ContextThese rates apply to “ready transactions” and are primarily relevant for importers, exporters, and financial…
Pakistan’s appetite for second-hand clothing has reached unprecedented levels, with imports hitting $511 million in the 2024–25 fiscal year — a sharp rise from $434 million a year earlier. In volume terms, imports jumped from 990,266 tonnes to well over a million tonnes, underscoring how inflation and falling purchasing power are reshaping the country’s shopping…
In a move that has sent ripples through the tech world, AI startup Perplexity AI has submitted an unsolicited $34.5 billion cash bid for Google’s Chrome browser. The offer significantly exceeds Perplexity’s own valuation and signals the company’s ambitions to tap into Chrome’s vast user base, a critical asset in the competitive race for AI-powered…