Global demand is expected to “level off” at 106 million barrels per day (bpd) toward the end of this decade while overall supply capacity could reach 114 million bpd — resulting in a “staggering” surplus of eight million bpd that oil markets should prepare for, the IEA said. The forecast comes days after the OPEC+ […]
Saudi Arabia’s Public Security Department announced measures to ensure a smooth and secure Hajj 2024. Effective from midnight on the fifth of Dhu Al-Hijjah until the end of the 13th day, unauthorized vehicles will be prohibited from entering the holy sites. According to Public Security, individuals transporting pilgrims without valid Hajj 2024 permits will face […]
the International Monetary Fund (IMF) has conditioned the reduction of income tax slabs. The proposal includes an increase of 10 percent in tax on the monthly income of salaried class between Rs 3-5 lakh, enhancing the maximum tax limit from 35% to 45% and applying the maximum tax limit to annual income exceeding Rs 60 […]
The Pakistan Muslim League-Nawaz (PML-N) led federal government will present its first growth-oriented budget for the fiscal year 2024-25, with an estimated outlay of over Rs18 trillion. According to proposals, Pakistan has planned to get tax from the real estate sector in three slabs. Filter buying property worth Rs50 mln will have to pay 3 […]
Sindh Chief Minister Syed Murad Ali Shah, who is also holding the portfolio of finance, will present the budget in the Sindh Assembly at 3 pm. According to a letter issued by the provincial finance department here, the Sindh cabinet will meet tomorrow at the CM House to approve the FY24-25 budget. The federal government, […]
40 high-capacity locally manufactured wagons with the help of Chinese technology have been inducted into the PR fleet. CEO of Pakistan Railways Aamir Baloch inaugurated the induction of wagons. The high-capacity wagons, designed as per international standards, are capable of transferring 70 tonnes of loads at the speed of 100 kilometers per hour. Baloch said […]
The prime suspect, Sheikh Rashid, and his partners are under direct investigation for allegedly embezzling billions of rupees from sugar dealers and traders. NAB DG Lahore has formed a team to conduct immediate investigations, and the inquiry has begun against Sheikh Rashid, Kashif, and Faisal. The NAB spokesperson said that Sheikh Rashid’s four warehouses in […]
Blinken, on a four-country swing around the Middle East to push Hamas to accept the truce proposal, will meet the top leadership of Qatar, which has transmitted messages to the Palestinian group. Hamas, responding to the plan laid out on May 31 by President Joe Biden, proposed amendments late Tuesday including a ceasefire timeline and […]
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb will present the budget on the National Assembly floor. The budget will be aimed at mitigating the people’s sufferings, transforming the agriculture sector, promoting information technology (IT), and boosting exports the government sources said The government also claimed that in addition to fiscal management, revenue mobilization, […]
The first-of-its-kind training was jointly organized by the Turkish Naval Forces and the Pakistan Navy. The purpose of the training was to train the ship’s crew for various naval operations and to further strengthen mutual relations between the two navies. During the training, Commander Golcuk Naval Base, Commanding Officer Istanbul Naval Shipyard visited PNS Babur. […]
