Category: Latest News

KATI Demands Immediate Withdrawal of Levy on Captive Power Plants

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New-Project67

ISLAMABAD: The Korangi Association of Trade and Industry (KATI) has called upon Federal Minister for Petroleum and Natural Resources Ali Pervaiz Malik to immediately withdraw the recently imposed levy on Captive Power Plants (CPPs), describing the move as unjustified and detrimental to industrial growth. In a formal letter addressed to the minister, KATI President Ikram Rajput challenged the rationale behind the levy, which has been introduced to eliminate the perceived tariff differential between captive power generation and grid electricity. He argued that the government’s comparison framework is fundamentally flawed and…

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Shehbaz Sharif Invites U.S. International Development Finance Corporation to Expand Financing in Energy, Mining and IT Sectors

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Shehbaz-Sharif

WASHINGTON: Prime Minister Shehbaz Sharif on Friday invited the U.S. International Development Finance Corporation (DFC) to enhance its financing portfolio in Pakistan, particularly in the energy, mines and minerals, agriculture, and information technology sectors. The prime minister extended the invitation during a meeting with DFC Chief Executive Officer Benjamin Black on the sidelines of the inaugural meeting of the Board of Peace. He highlighted Pakistan’s improving macroeconomic indicators, the government’s commitment to structural reforms, and the country’s increasingly attractive investment climate. Benjamin Black was accompanied by DFC’s Head of Investments…

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Ahsan Iqbal Warns of Rising Poverty and Inequality Over Seven Years, Calls for Export-Led Growth Strategy

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ahsan-iqbal

ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal has revealed that Pakistan’s poverty rate has increased significantly under the 2024–25 estimates, with national poverty rising from 21.9 percent to 28.9 percent over the past seven years. Launching the Poverty and Inequality Estimates 2024–25 on Friday, the minister stated that rural poverty surged from 28.2 percent to 36.2 percent, while urban poverty climbed from 11 percent to 17.4 percent during the same period. “Poverty and economic inequality have increased over the last seven years due to irresponsibility and inconsistent economic…

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IMF spox says EFF reforms helped stabilise Pakistan’s economy

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IMF

The International Monetary Fund (IMF) has said that Pakistan’s policy efforts under its Extended Fund Facility (EFF) programme have “helped stabilise the economy and rebuild confidence” with fiscal performance described as “strong”. Speaking at a weekly press briefing on Thursday, IMF Communications Director Julie Kozack said a staff team is expected to visit Pakistan from February 25 to hold discussions on the third review under the EFF and the second review under the Resilience and Sustainability Facility (RSF). Kozack noted that Pakistan currently holds a primary fiscal surplus of 1.3% of gross domestic product…

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US Supreme Court strikes down Trump’s global ‘Liberation Day’ tariffs

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US Supreme Court

America’s top court has struck down some of US President Trump’s most sweeping tariff moves, concluding that he violated federal law by imposing the duties on nations around the world. In a six-to-three vote, the US Supreme Court decided that the International Emergency Economic Powers Act (IEEPA) does not empower the president to unilaterally impose tariffs. The judgment throws out the sweeping “Liberation Day” announcement made in April 2025, which saw Trump impose tariffs across US trading relationships and shake up key shipping markets.

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