In a decision expected to offer relief to millions of electricity users, the federal government is poised to scrap the Rs35 monthly Pakistan Television (PTV) fee currently charged through electricity bills. Prime Minister Shehbaz Sharif is expected to make a formal announcement soon, ending a longstanding levy that affects over 40 million residential, commercial, and…
The State Bank of Pakistan (SBP) has said that it expects profit to reach Rs2.4 trillion in outgoing fiscal year 2024-25 ending in June. Speaking to analysts at a briefing following the rate cut decision the bank is on track to meet the government’s estimated target of Rs2.4 trillion. The central bank’s profit projection is…
The federal government has increased petrol prices once again, pushing the petrol price up by Rs 4.80 per litre. According to a notification issued by the Ministry of Finance, the petrol price has been increased by Rs4.80 per litre, bringing the new petrol price to Rs258.43 per litre. Similarly, the price of high-speed diesel has…
Amid government’s efforts to increase the tax revenue, Federal Board of Revenue (FBR) Chairman Rashid Mahmoud Langrial has defended proposed powers for the tax body to arrest CEOs, CFOs, and Board of Directors on tax fraud arguing that the FBR assumed the Code of Criminal Procedure (CrPC) powers. Speaking during a meeting of the Senate…
The UK government Tuesday said it will invest billions of pounds in the new Sizewell C nuclear power plant as it strives to meet its net zero and energy security targets. The £14.2 billion ($19 billion) investment will end “years of delay and uncertainty”, the UK Treasury said in a press release, adding it would…
There is no major relief expected for the public in the upcoming fiscal year 2025–26, as the government is seriously considering imposing sales tax on petroleum products and raising the petroleum levy. According to sources, a proposal is under review to impose a sales tax ranging from 3% to 5% on petroleum products, which are…
The receivables under the banner of petroleum levy are expected to hit historic mark in the next fiscal year as the government is estimated to get over Rs1,311 billion. Petroleum development levy (PDL) is all set to the record high of Rs1,311 billion mark after adding an additional amount of Rs194 billion during next fiscal…
The Power Division has categorically denied reports circulating on social media claiming that the government had imposed a ban on installing more than one electricity meter in a single residential unit. For the past few days, misleading claims have been circulating on social media platforms, claiming that the government has banned the installation of two…
A new report has just revealed some behind-the-scenes work that Prince William has seemingly been engaged in. The report, dropped by RadarOnline talks about the efforts he’s making to have Prince Harry and Meghan Markle removed permanently from the line of Succession. The well-placed source with the scoop into all of this, told the outlet,…
