Category: Latest News

ISLAMABAD: Prime Minister Shehbaz Sharif has approved the immediate withdrawal of all fuel conservation and additional austerity measures that were introduced on March 9, 2026, while keeping the revised market operating hours in place. According to a notification issued by the Cabinet Division, the decision marks the end of temporary fuel-saving and austerity steps implemented in response to regional developments following the escalation of the Middle East conflict. However, the government has confirmed that the updated business hours announced on June 3 and June 10 will remain unchanged until further…

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ISLAMABAD: The International Monetary Fund (IMF) has reportedly rejected Pakistan’s proposal to impose a reduced 1% sales tax on New Energy Vehicles (NEVs), including electric vehicles (EVs), creating fresh uncertainty over the finalisation of the country’s Auto Policy 2026-31. According to sources, the government presented a proposal to the IMF on Thursday seeking a concessional tax regime for environmentally friendly vehicles. The proposal included a sales tax rate equivalent to 50% of the standard 18% sales tax on hybrid vehicles and a nominal 1% sales tax on NEVs. However, the…

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ISLAMABAD: The government has unveiled an attractive investment framework offering up to 20 percent returns and greater operational flexibility to attract buyers for the privatisation of three major power distribution companies (DISCOs) later this year. Prime Minister’s Adviser on Privatisation, Muhammad Ali, said the government is restructuring the transaction model to ensure investor confidence while safeguarding consumer interests. The move is aimed at facilitating the successful privatisation of Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO) during October, November, and December 2026.…

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ISLAMABAD: Pakistan is expected to witness a significant reduction in petroleum product prices, with estimates suggesting a possible cut of Rs70 to Rs100 per litre, as international crude oil prices continue to decline sharply following easing geopolitical tensions in the Middle East. The anticipated relief comes after reports of a US-Iran ceasefire agreement and improved global energy supply outlook, which have already triggered a steep fall in international oil prices. Officials indicate that the government is preparing to pass on the full benefit of the global price decline to consumers.…

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