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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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Peshawar-Torkham Motorway Faces Major Restructuring Amid Cost Surge
The government is restructuring the Peshawar-Torkham Motorway project after costs ballooned from an initial PKR 41.44 billion to nearly PKR 130 billion. Despite a USD 460 million World Bank loan secured in 2019, construction has been stalled for over five years, largely due to outdated cost estimates and failed bidding rounds. Under the revised plan, the 55-kilometre Southern Link Road has been removed from the scope, and the main expressway will now be split into three construction packages. Authorities are currently negotiating a loan extension with the World Bank to proceed with the revised project based on updated 2025 construction rates.
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Punjab Unveils AI-Driven "Liquid Tree" to Combat Urban Smog
Punjab Chief Minister Maryam Nawaz Sharif has launched Pakistan’s first Environment Protection Agency (EPA)-certified "Liquid Tree," a bio-artificial system designed to combat smog and improve urban air quality. Developed through seven months of research, the system utilizes an AI-monitored, algae-based bioreactor—using a highly effective species identified in Sukkur—to absorb carbon dioxide and release oxygen. This initiative will initially be deployed in major shopping malls as a space-efficient alternative to traditional afforestation in congested urban areas, forming a key part of the government's broader strategy against climate change and environmental degradation.
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High-End Phones Set for Rs. 14,000 Price Drop from July 1
In the 2026-27 budget, the government has introduced a 20% reduction in regulatory duty on high-end imported mobile phones, effective July 1, 2026, which will lower costs by Rs. 14,000 per device. However, the FBR Chairman advises against broader duty cuts, arguing that premium imports are purchased by affluent consumers and that current tax structures are vital for revenue, with flagship phones contributing 58% of import tax revenue despite making up only 16% of units. Instead, the FBR is prioritizing support for the local assembly industry which serves 95% of the market and recommends that future tax relief be strictly limited to entry-level phones in the $31–$200 range to assist price-sensitive buyers.
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Pakistan International Airlines Set to Transition to Private Ownership in June
The privatization of Pakistan International Airlines (PIA) is set to be finalized by the end of June 2026, transferring 100% control to an Arif Habib-led consortium. The transition follows the completion of all local and international regulatory requirements, including a 15-year tax exemption for aircraft-related operations approved by the IMF. Alongside the PIA sale, the government has unveiled an ambitious privatization roadmap for FY2026-27, which includes the outsourcing of major international airports, the sale of five power distribution companies (DISCOs), and the privatization of two major financial institutions.
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Pakistan Sets Full Transition to E-Passports to Modernize Travel
The Pakistani government has announced a comprehensive shift to e-passports to enhance security, reduce fraud, and ensure global compatibility. While a timeline for phasing out machine-readable passports is pending, the transition will allow citizens to utilize e-gate facilities worldwide. Alongside this upgrade, the government is digitizing services by introducing a cashless payment system for all passport offices starting July 1, 2026, and launching home-delivery services for passports. Additionally, online applications will be streamlined through the Pak ID platform, and a new policy for business passports is currently under development.
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Federal Government to Fully Fund Gilgit-Baltistan’s 100MW Solar Initiative
Prime Minister Shehbaz Sharif has reaffirmed that the federal government will fully fund a 100MW solar energy project for Gilgit-Baltistan to address the region’s chronic electricity shortages. The initiative includes an 18MW solarization project for public buildings and an 82MW project for residential areas, with the Prime Minister mandating an accelerated timeline and independent third-party validation to ensure transparency throughout the development.
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