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Listen to article KARACHI: Those drafting the upcoming budget face a formidable set of challenges: the mammoth and still growing debt burden, the skyrocketing cost of living for the poor, and the seemingly intractable trade deficit, to name just a few. But by far the biggest challenge is the mismatch between income and expenses. This has led…
ISLAMABAD: The federal government is likely to impose a five-year levy on vehicles powered by petrol and diesel in the upcoming fiscal year 2025-26 budget to promote electric vehicles (EVs) and has decided to establish an EV Fund to support the transition toward electric mobility. Sources said that if approved and implemented, this levy could…
Listen to article LONDON/MOSCOW: The world’s largest group of oil producers, OPEC+, stuck to its guns on Saturday with another big increase of 411,000 barrels per day for July as it looks to wrestle back market share and punish over-producers. Having spent years curbing production – more than 5 million barrels a day (bpd) or 5% of…
Listen to article LAHORE: Stakeholders in Pakistan’s growing coffee sector are urging the government to eliminate the 28% combined Regulatory Duty (RD) and Additional Customs Duty (ACD) on bulk instant coffee imports, arguing the current levy is stifling industry growth and preventing the development of a domestic coffee market. The duties were imposed in June 2021 under…
Listen to article ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has reiterated the government’s resolve to revive the Pakistan Development Forum later this year – a platform that fosters strategic dialogue between the government of Pakistan and its development partners. During a meeting with newly appointed World Bank Country Director for Pakistan Bolorma…
SpaceX’s next-generation Starship spacecraft atop its Super Heavy booster is launched on its ninth test at the company’s launch pad in Starbase, Texas, US, May 27, 2025. — Reuters SOUTH PADRE ISLAND: SpaceX´s prototype Starship exploded over the Indian Ocean on Tuesday, capping another bumpy test flight for the rocket central to billionaire Elon Musk´s…
Listen to article ISLAMABAD: Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan held a meeting with the All Pakistan Ceramic Tiles Manufacturers Association, which was attended by representatives from 10 leading Pakistani manufacturers and four Chinese firms, who discussed opportunities for collaboration and growth. Key issues that came up for discussion included…
Finance Minister Muhammad Aurangzeb said on Monday that there was no proposal in the budget to increase salaries of the armed forces more than the civilian government employees and assured that the nation's defence needs would be fully met. In a media interaction after attending a seminar, the finance minister also said that India did…
KARACHI: Netflix recently dropped the fourth volume of acclaimed animated anthology series Love, Death & Robots,.created by David Fincher and Tim Miller. Since 2019, Fincher and Miller have crafted this sleek universe where opportunities for top-of-the-line animation and exciting, genre-bending stories are in abundance. However, after six years and four volumes, it seems that the…
Listen to article KARACHI: Pakistan doesn’t just need a better Federal Board of Revenue (FBR); it needs a new social contract on taxation. As long as the system treats taxpayers like suspects and protects evaders like VIPs, nothing will change. The trust deficit between taxpayers and tax administrators, outdated systems, lack of institutional autonomy, governance weaknesses and…
