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Auto sector warns draft law may ‘criminalise’ business

The country’s auto sector has raised strong objections to the draft Motor Vehicles Industry Development Act 2025, warning that instead of promoting growth, the proposed law risks stifling investment, inflating costs, and even criminalising legitimate business practices. Industry leaders argue the legislation was drafted without consulting stakeholders and hands sweeping powers to bureaucratic b

Mostly small items, mementos among gifts received by public office-holders

Apart from the affluent sheikhs of Qatar and Saudi Arabia, who lavished Pakistan’s dignitaries — including visiting bureaucrats — with expensive gifts, mainly wristwatches, Prime Minister Sheh­baz Sharif received a traditional golden dagger during the first six months of 2025. The Toshakhana record, made public by the cabinet division for the period between January and June 2025, lists high-val

Move disappoints trade, industry

Barring foreign investors, local business leaders have expressed concern over the State Bank of Pakistan’s (SBP) decision to keep the policy interest rate unchanged at 11 per cent, arguing that the move could stifle investment, raise production costs, and delay economic recovery. While foreign investors largely supported the decision, domestic business groups criticised it as overly cautious, p

Balochistan Public Accou­nts Committee probe uncovers billions in financial irregularities

The Public Accou­nts Committee of the Baloch­istan Assembly on Monday uncovered billions of rupees in financial irregularities, including unsurrendered savings and funds improperly held in private bank accounts by government officials, according to a review of recent audit reports. The commitee’s meeting, presided over by Chairman Asghar Ali Tareen, identified what it called serious lapses in f

Hyderabad Electric Supply Company fined Rs100m

The National Electric Power Regulatory Authority (Nepra) on Monday imposed a Rs100 million fine on Hyderabad Electric Supply Company (Hesco) for continuing excessive loadshedding on commercial grounds, violating laws and regulations. Nepra had earlier fined Hesco Rs50m in April 2024 for loadshedding based on aggregate technical and commercial (ATC) losses despite no shortfall in power generatio