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Pakistan Approves Major $6bn Oil Refining Policy
Pakistan has approved the long-awaited Brownfield Refining Policy, unlocking nearly $6 billion in investments to modernize existing oil refineries. The policy will boost Euro-V fuel production, increase petrol and diesel output, reduce furnace oil production, and strengthen Pakistan's energy security through major refinery upgrades and investment incentives.
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Punjab EPA Mandates Free Plastic Bags Starting September 6
Starting September 6, the Punjab Environmental Protection Agency (EPA) will prohibit businesses from charging customers for plastic bags. This mandate aims to stop retailers from profiting off plastic, which has discouraged the use of eco-friendly alternatives. While plastic bags must now be provided for free, businesses are still permitted to charge for reusable or recyclable non-plastic options. Violators face fines up to Rs50,000, potential store closures, and legal action.
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Sindh Government Distributes Solar Kits to Tharparkar and Ghotki Households
The Sindh government has distributed solar home system kits to 140 households in Tharparkar and Ghotki as part of the "Roshan Ghar – Roshan Sindh" initiative. Funded by the Sindh Energy Department and executed by the Sindh Rural Support Organization (SRSO), the project aims to bring clean, reliable, and affordable solar energy to 275,000 households across 30 districts. To ensure the sustainable and safe use of the systems, all recipients underwent training on equipment installation, operation, and maintenance.
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Punjab Secures USD 70 Million World Bank Loan to Accelerate Digital Transformation
The World Bank has approved a $70 million loan for the Connected Punjab Programme (CPP) to boost the province’s digital infrastructure, public services, and cashless payment adoption. The initiative aims to reduce regulatory barriers to broadband investment, with goals to expand fixed broadband coverage to 9.9 million people and improve access to digital government services for 28.9 million citizens by June 2031. Additionally, the program focuses on financial inclusion, targeting 350,000 active cashless payment users and increasing women's participation in digital services to 30% by 2031.
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President Zardari Approves Finance Act 2026 to Drive Revenue Growth
President Asif Ali Zardari has enacted the Finance Act 2026, launching a comprehensive suite of tax and tariff measures that took effect on July 1, 2026. The legislation aims to achieve a tax collection target of PKR 15,264 billion for the 2026-27 fiscal year by generating PKR 1.02 trillion through enhanced enforcement, digitalization, and new tax levies. While introducing higher taxes on luxury items and specific sectors, the Act also provides PKR 143.4 billion in import-stage tax relief through adjusted duties and removed exemptions. Key initiatives include the Retailer Formalisation Scheme, supply chain digitalization, and the use of algorithmic tax assessment to broaden the revenue base.
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SG Power Completes Strategic Pivot from Power Generation to Healthcare
SG Power Limited has officially transitioned from an independent power producer to the healthcare and pharmaceutical sector, following approval from the Securities and Exchange Commission of Pakistan (SECP). This strategic pivot enables the company to manufacture, trade, and maintain medical devices, hospital supplies, and pharmaceutical products. The company, which previously focused on electricity generation, plans to utilize approximately Rs535 million raised through a recent rights issue to support this business diversification and fuel future growth initiatives.
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Gold Prices Dip in Pakistan Following Global Market Decline
Gold prices in Pakistan declined on Monday, June 29, 2026, as domestic rates tracked a drop in international markets. The price of 24-karat gold fell by Rs2,300 to settle at Rs428,936 per tola, while 10-gram gold decreased by Rs1,972 to Rs367,743. Silver also saw a reduction, falling by Rs69 to Rs6,324 per tola
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Pakistanis support 5% tax on social media influencers
A survey by the Press Network of Pakistan (PNP) reveals that most Pakistanis support the government’s proposed 5% withholding tax on social media influencers, agreeing that creators should contribute to the national tax system. However, respondents emphasized the need for a balanced approach, strongly favoring income-based exemptions for small creators and the implementation of government incentives to support digital entrepreneurship. While there is concern that the tax could discourage young talent, the public generally views this measure part of the Finance Bill 2026—as a necessary step to bring the growing digital economy into the formal tax net.
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OGDCL Commences Production at Sahito-1 Gas Well in Sindh
OGDCL has begun gas production from the Sahito-1 well in Sindh’s Khairpur district, currently yielding 6.0 million standard cubic feet per day (MMSCFD). The gas is processed at the Sinjhoro Plant and integrated into the Sui Southern Gas Company Limited (SSGCL) network. OGDCL, which holds a 75% interest in the Khewari Exploration Licence, plans to gradually increase production as surface facilities expand to support the monetization of indigenous hydrocarbon resources.
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