Category: Popular News

Govt to Impose Rs77/litre Petroleum Levy on Furnace Oil from July 1 under IMF Agreement

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IMF-Oil

ISLAMABAD: The federal government is poised to levy a Petroleum Levy (PL) of Rs77 per litre (Rs82,077 per metric ton) on furnace oil starting July 1, 2025, as part of amendments to the Petroleum Levy Ordinance, 1961, introduced through the Finance Act 2025-26. This measure aligns with Pakistan’s commitments under the IMF’s Resilience and Sustainability Facility (RSF) programme. In addition to the PL, a Carbon Levy of Rs2.5 per litre (Rs2,665/MT) will also be imposed on furnace oil in FY2025-26, increasing to Rs5 per litre in FY2026-27. The agreement with…

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Sindh Presents Rs3.45 Trillion Budget for FY2025-26 Amid Opposition Uproar

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Sindh-BUDGET

KARACHI: Amid vociferous protests from opposition lawmakers, Sindh Chief Minister Syed Murad Ali Shah on Friday unveiled a Rs3.451 trillion deficit budget for the fiscal year 2025-26 — marking a 12.9% increase over last year’s outlay of Rs3.056 trillion. The budget includes a 12% salary increase for government employees in grades BS-1 to BS-16, a 10% raise for officers in BS-17 to BS-22, and an 8% hike in pensions. Lawmakers’ salaries are also set to align with those of other provincial assemblies starting July. Presenting what he termed a “relief-oriented”…

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Tel Aviv Hit by Iranian Missile Strikes

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telaviv attack

Central Tel Aviv was impacted by ballistic missiles fired from Iran on Friday, after Israel said it had detected dozens of missiles launched from Iran and was working to intercept them. Israeli paramedics said they were treating five injured people and Israeli officials urged people to take shelter. Israeli Defense Minister Israel Katz said Iran had “crossed a red line” by firing missiles at populated civilian areas in Israel. Supreme Leader Ayatollah Ali Khamenei earlier said Israel “should expect severe punishment” for Israel’s wide-ranging attack on the country’s nuclear program…

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Iran fires missiles at Israel in response to attacks

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Iran fires missiles at Israel

TEL AVIV/DUBAI/WASHINGTON, June 13 (Reuters) – Iran launched retaliatory airstrikes at Israel on Friday night, with explosions heard in Jerusalem and Tel Aviv, the country’s two biggest cities, following Israel’s biggest-ever military strike against its longstanding enemy. Air raid sirens sounded across Israel as authorities urged the public to take shelter. Missiles were seen over Tel Aviv’s skyline, with the military saying Iran had fired two salvos.

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Oil jumps over 7% after Israel strikes Iran

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Oil falls

HOUSTON: Oil prices jumped over 7% on Friday to multi-month highs after Israel launched air strikes against Iran, sparking Iranian retaliation and raising worries about a disruption in Middle East oil supplies. Brent crude futures were up $4.94, or 7.12%, to $74.30 a barrel at 1442 GMT, after hitting an intraday high of $78.50, the strongest level since January 27. U.S. West Texas Intermediate crude was up $4.72, or 6.94%, at $72.75, touching its highest since January 21 at $77.62 earlier in the session. Friday’s gains were the largest intraday…

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