Pakistan Army Chief Highlights Local and International Defense Technologies at IDEAS 2024

Pakistan Army Chief Highlights Local and International Defense Technologies at IDEAS 2024

Pakistan Army Chief General Syed Asim Munir on Wednesday attended the International Defense Exhibition and Seminar (IDEAS) 2024 in Karachi, where he reviewed the latest weapons and defense technology presented by local and international exhibitors. According to the army’s media wing, Inter-Services Public Relations (ISPR), the event held at the Karachi Expo Center also gave…

Pakistan Inaugurates First Maritime Science and Technology Park

Pakistan Inaugurates First Maritime Science and Technology Park

Karachi: Pakistan on Wednesday achieved a major milestone with the inauguration of its first Maritime Science and Technology Park (PMSTP) in Karachi. The initiative was launched during the International Defense Exhibition and Seminar (IDEAS) 2024 under the chairmanship of Chief of Naval Staff Admiral Naveed Ashraf. The facility is expected to play a game-changing role…

Banks introduce fees on large deposits to meet lending targets, avert tax

Banks introduce fees on large deposits to meet lending targets, avert tax

Pakistani banks have started charging fees on large savings accounts to meet the government’s advance-to-deposit ratio (ADR) requirement and avoid additional taxes. The move is part of a broader strategy to boost private sector lending amid mounting financial pressures. The first bank to do so was Bank Al Falah, which announced the monthly fee on…

Pakistan’s banks impose fees on deposits to avoid govt tax: report 

Pakistan’s banks impose fees on deposits to avoid govt tax: report 

Pakistan’s banks are adding new fees on some savings accounts to discourage deposit outflows as they seek to boost their loan-to-deposit ratios to avoid punitive taxes from the government. Meezan Bank Ltd., the country’s largest lender by profitability, said in an email to its customers that it will impose a 5% monthly fee on savings…

Consumers miss out on Rs60bn relief due to Neelum Jhelum closure, debt adjustments

Consumers miss out on Rs60bn relief due to Neelum Jhelum closure, debt adjustments

The National Electric Power Regulatory Authority (NEPRA) has revealed that due to power outages, distribution companies (Discos) and K-Electric (KE) Consumers missed out on an expected financial benefit of Rs 60 billion during the first quarter of FY 2024-25. 969 MW Neelum Jhelum Hydro Power Project (NJHPP) and Karachi Nuclear Power Debt Re-Profiling Plant-II (Kanoop)….

FBR finalizes plan targeting unregistered high-net-worth individuals

FBR finalizes plan targeting unregistered high-net-worth individuals

The Federal Board of Revenue (FBR) has finalized an enforcement plan to enhance revenue collection targeting unregistered high net worth individuals including non-filers and zero income declarers. . This initiative has been taken on the instructions of Prime Minister Shahbaz Sharif. FBR has completed its ground work for implementation plan at field formation level. The…

Govt mulls slashing rooftop solar buyback tariff to Rs7.5-11 per unit  

Govt mulls slashing rooftop solar buyback tariff to Rs7.5-11 per unit  

The government is considering reducing the tariff for electricity generated from rooftop solar panels under the net metering system from Rs 21 per unit to Rs 7.5-11 per unit. Currently, consumers exporting electricity to the grid through solar panels are compensated at the rate of two rooftop solar units for one grid unit, but this…

Billionaire Gautam Adani of India's Adani Group charged in US with bribery, fraud

Billionaire Gautam Adani of India’s Adani Group charged in US with bribery, fraud

NEW YORK: Gautam Adani, the billionaire chairman of Indian conglomerate Adani Group and one of the world’s richest men, has been indicted in New York for his role in an alleged multibillion-dollar bribery and fraud scheme, US officials said. prosecutors said Wednesday. Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay…