After the Elec­t­ion Commission of Pakistan (ECP) barred the caretaker government from moving ahead with its controversial plan to restructure the Federal Board of Revenue (FBR), caretaker Finance Minis­ter Shamshad Akhtar said the restructuring roadmap approved by all stakeholders will be ‘operationalised’ by the elected government. The caretaker minister revea­led this plan during a televised address after the federal cabinet …

The European Union has raised concerns that Hong Kong’s plan for a new national security law may weaken the city’s freedoms, with business leaders calling for greater clarity. City leader John Lee on Tuesday unveiled a legislative proposal that would introduce new categories of security crimes — on top of an existing national security law imposed by Beijing in 2020. Lee said …

The Lahore High Court (LHC) on Wednesday directed the Pakistan Electronic Media Regulatory Authority (Pemra) to ensure that former prime minister Imran Khan as well as the candidates of all political parties were given “free and unrestricted” access to media ahead of the forthcoming February 8 general elections. The order was passed by Justice Shams Mehmood Mirza on a petition …

LAHORE: Embarking on a new era of opulent living, One Home, Pakistan’s leading luxury developer, is unveiling an extraordinary promotion for discerning homeowners. Elevate your lifestyle by buying an apartment with One Homes and get a prestigious Mercedes in your driveway. This unparalleled offer, available for a limited time until February 29th, 2024, sets a pioneering benchmark in the landscape …

ISLAMABAD: Pakistan and Dubai on Thursday inked two agreements worth over $3 billion on cooperation in railways, economic zones and infrastructure projects. According to an official press release, the inter-governmental framework agreements were signed to strengthen relations in the marine and logistics sectors, including the establishment of a dedicated freight corridor and economic zone near Karachi. “The rail-based dedicated freight …

KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves fell below $7 billion for the first time in the current fiscal year, posing challenges for the government to stabilise the exchange rate and meet debt servicing obligations. The SBP on Thursday reported a $136 million decline in reserves to $6.904bn due to debt repayments. This outflow of dollars brought …

ISLAMABAD: The World Bank on Wednesday announced that its board of directors had approved the long-awaited $350 million loan ‘2nd Resilient Institutions for Sustainable Economy (RISE-II) Operation’ to Pakistan to support key macroeconomic reforms in energy, taxation and business environment. The financing “aims to strengthen fiscal management and promote competitiveness for sustained and inclusive economic growth”, the Washington-based multilateral lender …

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday approved an additional across-the-board charge of Rs1.15 per unit for electricity consumers throughout the country, including K-Electric, and also concluded the process of imposing another Rs1.72 per unit on K-E consumers for the next three months — January to March 2024. Effectively, K-Electric consumers would have to pay a cumulative …

ISLAMABAD: The Pakistan Telecommunication Company Ltd (PTCL) said on Thursday it has signed a share purchase agreement with Telenor Pakistan to buy 100 per cent of its shares based on an enterprise value of Rs108 billion ($380 million). The deal, structured on a cash-free, debt-free basis, is subject to regulatory approvals and customary closing conditions, the PTCL said in a …

ISLAMABAD: The special court on Thursday accepted the Federal Investigation Agency’s plea seeking an in-camera trial of former prime minister Imran Khan and ex-foreign minister Shah Mahmood in the cipher case. It began the cipher trial afresh at the Adiala district jail after the pair were indicted for a second time yesterday, according to reporters allowed to attend the hearing. The cipher case pertains …