Author: Sharjeel Babar

Pakistan Tehreek-e-Insaf (PTI) has indicated its readiness to engage with the government by agreeing to participate in the upcoming All-Parties Conference (APC). PTI Founder Imran Khan, speaking informally to the media at Adiala Jail, explained that this decision aims to promote national unity and stability amid ongoing challenges. Emphasizing the party’s commitment to Pakistan’s well-being, he stated, “We will join the APC convened by the prime minister for the sake of Pakistan.” Imran Khan also expressed concerns about the recently announced Azm-e-Istehkam operation, highlighting its potential failure if the interim Afghan government is not consulted. He cautioned, “If we carry…

Pakistan has introduced new taxation measures on prize bonds and lottery winnings through the Finance Bill 2024. Under these provisions, individuals and entities holding prize bonds will now be subject to a uniform tax rate of up to 15%. Meanwhile, winnings from lotteries will incur a tax rate of 20%. Regarding investments in Sukuks, individuals and Associations of Persons (AOPs) earning returns below Rs1 million will face a 10% tax rate. For companies and other entities investing in Sukuks, the tax rate will be higher at 25%. For higher returns exceeding Rs1 million, individuals and AOPs will be taxed at…

Pakistan cricket enthusiasts have a thrilling prospect ahead as the Pakistan Cricket Board (PCB) has confirmed the inclusion of a highly anticipated match against their arch-rivals, India, in the initial schedule for the upcoming ICC Champions Trophy. Scheduled for March 1st, the marquee clash will unfold at the iconic Gaddafi Stadium in Lahore. The PCB has submitted a draft schedule to the ICC, placing New Zealand and Bangladesh alongside Pakistan and India in Group A. Group B is set to feature Australia, England, South Africa, and Afghanistan. The Board of Control for Cricket in India (BCCI) has stated that all…

The Pakistan Petroleum Dealers Association (PPDA) has announced a nationwide strike starting July 5, in response to the government’s decision to impose a 0.5% advance turnover tax in the recent budget. According to PPDA Chairman Abdul Sami Khan, this additional tax burden threatens to destroy the already struggling petrol pump business, which is operating with minimal profit margins amidst high inflation. Khan emphasized that the dealers have no choice but to close their businesses due to the unfair tax, and that they have been unable to get satisfactory answers from the finance minister regarding their concerns. The PPDA is demanding…

Benchmark KSE-100 Index surges by 606 points, reaches 80,839 points

BCCI Secretary Jay Shah has confirmed that Indian cricket stars Virat Kohli and Rohit Sharma will participate in the ICC Champions Trophy, set to be hosted by Pakistan next year. In an interview with the Press Trust of India (PTI), Shah affirmed that these senior players will play crucial roles in India’s squad for the prestigious ODI tournament. Shah expressed confidence in India’s cricketing depth following their victorious T20 World Cup campaign in the Caribbean, where they defeated South Africa in a thrilling final. He emphasized India’s aspirations to win upcoming tournaments, including the Champions Trophy and the World Test…

The Pakistan Stock Exchange (PSX) has achieved a historic milestone by surpassing the 80,000-point mark, setting a new record in the country’s financial markets. Throughout the trading day, the PSX demonstrated strong performance, with the KSE-100 Index showing substantial gains across multiple sessions: During the first session, the index surged by 447 points, crossing the 80,000-point threshold and establishing a strong start for the day. In the second session, the momentum continued with the index rising by 760 points to reach 80,313 points, reflecting sustained investor confidence and pushing the market to new heights. By noon, the PSX reached a…

The Meteorological Department reported that Karachi is experiencing southwest winds blowing at a speed of 22 km per hour, with a current temperature of 32 degrees Celsius. Despite this, the perceived heat intensity is 38 degrees. The department forecasts that the maximum temperature for the day could reach 37 degrees Celsius, while the minimum temperature recorded was 31.5 degrees Celsius. The humidity level is currently at 70 percent. Karachi faces significant air quality challenges. It is now ranked as the 11th most polluted city in the world and has become the fifth most polluted city in Pakistan. The concentration of…

The Indian cricket team, having clinched victory in the T20 World Cup 2024 final against South Africa on Saturday, faces an extended stay in Barbados due to severe weather conditions. Their return home has been delayed significantly as Hurricane Beryl has led authorities to close the airport, grounding all flights. The team remains confined to their hotels amid uncertainty about when they can depart. Hurricane Beryl, categorized as a powerful Category 4 storm, poses considerable risks with wind speeds surpassing 130 mph. Predicted to impact the Windward Islands, it may bring a storm surge of 6 to 9 feet and…

In another blow to consumers grappling with inflation, the federal government, led by Prime Minister Shehbaz Sharif, has announced significant increases in petrol and diesel prices. According to a notification issued by the Ministry of Finance on Sunday, petrol prices will surge by Rs7.45 per litre, while diesel will see a steep hike of Rs9.56 per litre. The Ministry attributed the price adjustments to a recent upward trend in international petroleum markets over the past fortnight. The Oil & Gas Regulatory Authority (OGRA) has calculated these new consumer prices based on these international price fluctuations. Importantly, there will be no…