The federal cabinet on Tuesday approved the extension of licences for 86 foreign pilots currently employed in Pakistan for the past two years. The decision, made during a meeting chaired by Prime Minister Shehbaz Sharif, followed a recommendation from the Cabinet Division. The cabinet also approved a three-year licence validation for foreign pilots hired in 2025, according to a press release fr
The federal government has claimed over Rs225 billion in receivables from K-Electric, that also include an overwhelming Rs186.5bn as mark up on a principal liability of Rs38.8bn. The power division, in its monthly report, put the power sector’s circular debt at Rs2.381 trillion as of end-Nov 2024. The debt stood at Rs2.678tr in Nov 2023 — a reduction of around 11pc. The monthly circular debt
The National Assembly Standing Committee on Finance and Revenue has endorsed the Federal Board of Revenue’s (FBR) efforts to prevent black money in real estate and formed a sub-committee to review the proposed tax amendment bill with relevant stakeholders. The committee meeting, chaired by MNA Naveed Qamar, reviewed the Tax Laws (Amendment) Bill 2024 and appointed a sub-committee to resolve the
Prime Minister Shehbaz Sharif ordered an inquiry into the alleged procurement violations in a dredging contract awarded by the Karachi Port Trust (KPT). Documents reveal that KPT recommended awarding the dredging contract to a Chinese company despite the technical committee’s concerns against this firm. A four-member committee has been formed, led by the chairman of PM’s Inspection Commissio
Bulls dominated proceedings at Pakistan Stock Exchange (PSX) on Monday as investors took encouragement from relative political stability and a marked improvement in macroeconomic indicators. Market players resorted to cherry-picking of stocks, helping the KSE-100 index to add over 550 points to its tally. Current account surplus, a significant increase in foreign direct investment (FDI) and exp