Category: Popular News

ISLAMABAD, June 17, 2025 — In a major setback for Pakistan’s energy sector, the International Monetary Fund (IMF) has rejected the government’s proposals for \$6 billion in refinery upgrade projects aimed at producing cleaner Euro-V standard petrol and diesel, prompting the Special Investment Facilitation Council (SIFC) to call an emergency meeting on Wednesday to formulate revised proposals. Senior officials from the Petroleum Division confirmed that new proposals would be discussed, although they warned these may lead to an escalation in project costs, ultimately to be borne by petroleum consumers. To…

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ISLAMABAD, June 17, 2025: The Directorate General of Audit (Power) has accused the Power Division of failing to provide essential documents related to the National Electricity Policy (NEP) 2021 and the National Electricity Plan (2023–27), hindering the progress of a special audit. In a letter addressed to the Secretary Power, Director Audit (Power) Meesam Abbas Khawaja stated that he was assigned the special audit task on June 2, 2025, and had issued three formal requisitions requesting the necessary records. However, no relevant documents or supporting evidence have been submitted to…

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ISLAMABAD, June 17, 2025: Pakistan and the United States have made significant progress in their bid to resolve longstanding trade issues, particularly the reciprocal tariffs imposed during President Donald Trump’s earlier term, as top officials from both nations held a virtual meeting on Monday. Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick led the talks, which focused on enhancing bilateral trade, investment, and economic cooperation. The Ministry of Finance, in a statement issued Tuesday, said both sides reaffirmed their commitment to a mutually beneficial trade deal and agreed…

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ISLAMABAD/QUEBEC, June 17, 2025: The G7 summit concluded in turmoil as leaders of the world’s leading industrial democracies issued a joint call for de-escalation in the Middle East, urging an immediate halt to hostilities between Israel and Iran, while US President Donald Trump abruptly exited the summit amid soaring regional tensions. In a joint communiqué released by host country Canada, the G7 — comprising the US, UK, France, Germany, Italy, Japan, and Canada — stressed the need to resolve the Iranian crisis and secure a ceasefire in Gaza. The statement…

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