People familiar with the discussions told the Daily that the terms of the possible alternative settlement, known as a deferred prosecution agreement, or DPA, are still subject to change. A DOJ official involved in the case, Glenn Leon, chief of the fraud section criminal division, said in an email to a civil party lawyer seen […]
Out of the Rs70 billion, an amount of Rs30 billion will be the impact of increase in property valuations and the remaining Rs40 billion is estimated to be collected through a higher withholding tax on the revised valuations and the new withholding tax rates. The statement about property valuation was made during a meeting of […]
A shooter opened fire at an Arkansas supermarket on Friday, killing three civilians and wounding 10 other people, including two police officers, Arkansas State Police said. The suspect was also wounded in a shootout with police, Arkansas State Police Director Mike Hagar told reporters. The shooting occurred at the Mad Butcher grocery in Fordyce, a […]
Secretary Ministry of Economic Affairs Dr Kazim Niaz and Country Director ADB Yong Ye signed the loan program. Kazim Niaz thanked the ADB for its continued support of Pakistan’s critical development needs and rehabilitation efforts in a post-flood context. According to the ADB official ‘X’ handle, the agreement aimed at assisting Pakistan drive sustainable investment […]
According to sources, Pakistan and the International Monetary Fund (IMF) have made significant progress in virtual negotiations. Sources revealed that the IMF expressed satisfaction over the tough economic decisions taken in the budget, acknowledging the positive role of political parties in the budget. Sources further added that the monetary fund also appreciated the limitation of […]
Pakistani Rupee on Friday gained 09 paise against the US Dollar in the interbank trading and closed at Rs 278.51 against the previous day’s closing at Rs 278.60. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, were Rs 277.8 and Rs 280.7 […]
A series of countries have recognized the State of Palestine amid the war between Israel and Hamas, drawing strong rebukes from Israeli officials. Confirming its commitment to international law, equality of nations, sovereignty, and peaceful coexistence, the Republic of Armenia recognizes the State of Palestine Yerevan said. Armenia added that it is genuinely interested in […]
China is pushing for Visa and Mastercard to lower their bank card transaction fees in the country, as part of an effort to facilitate payments for foreign visitors, Bloomberg News reported, citing a person familiar with the matter. The Payment & Clearing Association of China is negotiating with global card issuers including Visa and Mastercard […]
The regulatory authority has sent its proposal of fixed charges of Rs200-1,000 a month in the electricity bills to the government, which will give the final nod to impose the fixed charges. According to the proposal, the domestic consumers using 301-400 units a month will pay from July 1, 2024, the fixed charges of Rs200 […]
Finance Minister Muhammad Aurangzeb chaired the meeting. According to sources, a notification for the dissolution of these boards will be issued after the Cabinet ratifies the decision. The committee has approved the formation of new boards for nine out of the eleven state-owned power companies. The Cabinet Committee’s approval came on the recommendation of the […]
