Category: Latest News

Iran Strikes Tel Aviv and Haifa, Fueling Fears of Full-Scale Middle East WarDozens killed and wounded as G7 summit puts Israel-Iran conflict at top of agenda

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Israel-Iran

TEL AVIV/DUBAI/WASHINGTON – Iranian missiles rained down on Tel Aviv and Haifa on Monday, killing at least 10 people and wounding dozens more in a dramatic escalation of hostilities that has alarmed world leaders and sparked fears of a broader Middle East war. According to Israeli media, three people were killed in central Israel, while emergency responders reported about 30 injured in Haifa, where fires erupted near the city’s power plant. Residential buildings in Tel Aviv were also hit, and live footage showed missiles streaking across the skies over Tel…

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Karachi Faces Urban Flood Threat as Drain Cleaning Delayed Monsoon preparedness stalled by funding bottlenecks; experts warn of severe flooding risk

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Urban-Flood

KARACHI – With the Pakistan Meteorological Department predicting 20–30% above-normal rainfall in Karachi and interior Sindh, the city remains vulnerable to urban flooding due to the delayed cleaning of its storm water drains—an issue compounded by the Sindh government’s slow release of funds. Despite repeated warnings and past flood disasters, the Karachi Metropolitan Corporation (KMC) has yet to receive the necessary funds for cleaning its 586 drains, including 41 major nullahs. Sources told The Express Tribune that the KMC has requested Rs650 million for the 2024 monsoon season, but historically…

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Sindh CM Opposes 18% GST on Solar Panels, Allocates Rs25 Billion for Solar Projects

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KARACHI – June 14, 2025: Sindh Chief Minister Syed Murad Ali Shah, in a detailed post-budget press conference, strongly opposed the federal government’s proposed 18% General Sales Tax (GST) on imported solar panels, calling it unjust and counterproductive to the nation’s clean energy goals. Highlighting Sindh’s commitment to renewable energy, the Chief Minister announced a significant allocation of Rs25 billion for solar projects, which will also contribute to climate change mitigation. He acknowledged the rising poverty linked to the stringent IMF fiscal constraints but emphasized that the provincial government is…

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PSO Eyes Rs732bn Receivables as Profit Climbs 14% Despite Market Pressures

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KARACHI: Pakistan State Oil (PSO) has reported a 14% year-on-year rise in profit, reaching Rs15 billion during the first nine months of FY2024–25, despite persistent circular debt challenges and market share pressures. In a corporate briefing held Friday, PSO revealed that total receivables had ballooned to Rs732 billion by the end of March, including Rs325 billion in principal from SNGPL alone. Efforts to recover outstanding dues—especially the Rs200 billion in Late Payment Surcharges—remain a top priority, although a definitive debt resolution plan is still awaited. Since February 2024, SNGPL has…

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FPCCI Condemns 18% Tax on E-Commerce and Solar Panels, Calls for Immediate Withdrawal

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FPCCI-Project

KARACHI: Muhammad Amaan Paracha, Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has sharply criticized the federal budget 2025–26, saying it falls short of the expectations of trade, industry, and the general public. He denounced the imposition of 18% tax on e-commerce transactions, arguing it will suppress the potential of unemployed youth who had found income opportunities through online platforms. “This move is unjust and counterproductive,” he remarked. Paracha also strongly opposed the 18% sales tax on solar panels, warning it will drive up prices…

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