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Relief for Consumers: Kerosene Oil Price Slashed by Rs48.29 per Liter Following Petrol and Diesel Price Cuts
The federal government has slashed the price of kerosene oil by Rs48.29 per liter, bringing the new retail rate down to Rs233.90 effective immediately. This follows a major relief package where petrol and diesel prices were recently cut by Rs74 and Rs67 per liter, respectively.
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Pakistan Axing Machine-Readable Passports in Full Mandatory Shift to Biometric E-Passports
Pakistan is fully transitioning to biometric e-passports to eliminate identity fraud and allow citizens to use automated e-gates at global airports. Chairing an immigration overhaul meeting, Interior Minister Mohsin Naqvi also announced that all passport offices will go entirely cashless from July 1, 2026, alongside the upcoming rollout of a global doorstep passport delivery system integrated with the Pak ID platform.
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Imports Choke Surplus: Pakistan’s Current Account Surplus Plummets to $255M as Easing Curbs Re-open Trade Gap
State Bank data shows Pakistan's current account surplus narrowed to $255 million in May 2026 as an 8% import surge pushed the goods trade deficit past $30 billion. While record remittances of $38.11 billion and historic IT exports of $4.18 billion kept the overall balance of payments stable, local gold prices jumped back to a record Rs455,236 per tola following a brief jeweler association strike.
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National Assembly Passes Bill Granting Telecom Firms Right to Install Towers on Private Property
The National Assembly has passed the Pakistan Telecommunication Reorganisation Amendment Bill, legally forcing private homeowners and public entities to provide space for telecom towers and optical fiber. Under the new law, which has been sent to the Senate, any property owner or tenant refusing access to licensed telecom operators will face a massive fine of Rs50 million.
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Karachi Bus Owners Declare Indefinite Strike Starting June 18 Over ‘Excessive’ Traffic Fines
The Karachi Bus Owners Association has announced an indefinite public transport strike starting June 18, 2026, to protest heavy traffic fines and digital challans. The strike—led by association president Farooq Ahmed—comes in response to a recent tech-driven traffic police crackdown on wrong-way driving, threatening to leave thousands of daily commuters stranded across the metropolis.
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IMF Rejects Tax Relief on Student Stationery While Mandating Eased Used-Car Imports
The IMF has rejected Pakistan's proposal to exempt children's pencils and exercise books from an 18% sales tax, even as it mandated easing used-car imports and lifting vehicle age limits. Meanwhile, the National Assembly Finance Committee approved new asset-freezing powers under the Customs Act with third-party safeguards, while the FBR admitted its large-trader registration drive fell short by over 60,000 businesses.
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‘Out of the ICU’: Khawaja Asif Declares Pakistan Solvent, Projecting 7% Growth Within Two Years
Defense Minister Khawaja Asif declared in the National Assembly that Pakistan's economy has left the "ICU" and is on track for 7% growth, while touting the nation's key role in brokering the U.S.-Iran peace deal despite India's attempts to ignore it. Meanwhile, Health Minister Mustafa Kamal fiercely criticized the 82% population-based NFC award formula, warning it rewards population growth and creates a massive infrastructure crisis.
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No New Taxes: Chief Minister Maryam Nawaz Approves Rs5.34Tr Punjab Budget for FY2026–27
Punjab Chief Minister Maryam Nawaz Sharif has chaired the 35th provincial cabinet meeting to approve a tax-free, Rs5.34 trillion budget for FY2026–27. Dubbed a "budget of hope," the multi-trillion-rupee plan balances hefty federal revenue commitments with localized public relief, while the Punjab Revenue Authority has been directed to expand internal revenue collection without burdening citizens.
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