Gold Archives - Page 3 of 6

Russia seeks AI partnership with China amid Western sanctions

President Vladimir Putin has instructed Russia’s government and its largest bank, Sberbank, to strengthen cooperation with China in the development of artificial intelligence (AI). The instructions, published on the Kremlin’s website, follow Putin’s earlier announcement that Russia would collaborate with BRICS countries and others to advance AI technology. Putin has directed Sberbank, which leads Russia’s […]

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Pakistan to train and export pilots for regional aviation needs

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The Civil Aviation Authority (CAA) has launched a programme to train and export skilled pilots, addressing the regional shortage of cockpit crew and creating opportunities for Pakistan’s aviation sector. Director General CAA, Nadir Shafi Dar, confirmed the initiative and noted the significant demand for pilots in the Asia Pacific region. He explained that the programme

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FBR introduces ‘digital eye’ to monitor sugar mills

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The Federal Board of Revenue (FBR) has launched a new initiative to monitor sugar mill production through digital surveillance, replacing the previous track-and-trace system. The move is part of broader efforts to curb tax evasion and ensure transparency in the sugar sector. According to a notification issued under S.R.O. 2082 (I)2024, the FBR will implement

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Pakistan’s December imports hit $5.2 billion, highest in two years

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Pakistan’s monthly goods imports reached $5.2 billion in December 2024, marking the highest figure in two years and an $800 million increase compared to November 2024’s $4.4 billion. This rebound comes after a dip to $4.5 billion in December 2023, reflecting renewed momentum in trade flows and regional partnerships. Imports from Iran saw a significant

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Software Boom or Bust: Why Pakistan Needs Factories First?

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Pakistan’s software exports are booming, with ambitious targets of $25 billion by 2029. But can software alone uplift a nation of over 240 million? This video explores the role industrialization plays in sustainable economic development, drawing lessons from countries like Germany, Japan, Bangladesh, and Indonesia. Discover why robust manufacturing, better governance, and infrastructure are essential

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President promulgates Income Tax (Amendment) Ordinance, revising tax structure for banks

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President Asif Ali Zardari on Monday night promulgated the Income Tax (Amendment) Ordinance, 2024, introducing significant changes to the taxation structure of banks by amending the First and Seventh Schedules of the Income Tax Ordinance, 2001. Under the ordinance, a tax rate of 44% has been set for banking companies for the tax year 2025.

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K-Electric seeks Rs4.98/unit relief for November fuel charge adjustment

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K-Electric has submitted a provisional monthly fuel charge adjustment (FCA) request for November 2024, proposing a relief of Rs4.98 per kilowatt-hour (kWh) for its customers. The National Electric Power Regulatory Authority (NEPRA) has scheduled a public hearing on January 15, 2025, to evaluate K-Electric’s proposal. Following the hearing, NEPRA will determine the final FCA amount

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President orders banks to compensate fraud victims with Rs24.136 million

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President Asif Ali Zardari has directed six banks to compensate 31 victims of bank fraud with financial relief totaling Rs24.136 million, following decisions by the Banking Mohtasib. The president upheld the Banking Mohtasib’s rulings in favor of the affected customers, delivering justice after the banks challenged these decisions through separate representations. The victims had initially

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Fauji Fertilizer Bin Qasim delisted from PSX following merger with FFC

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The Pakistan Stock Exchange (PSX) has announced the delisting of Fauji Fertilizer Bin Qasim Limited (FFBL) following its merger and amalgamation with Fauji Fertilizer Company Limited (FFC). According to a notice issued by the PSX, the delisting will take effect from Tuesday, December 31, 2024. The decision comes after the fulfillment of all necessary requirements

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SSGC cuts 50% gas for captive power generation in January

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The Sui Southern Gas Company (SSGC) has announced a 50% reduction in gas supply for captive power generation from January 1 to 31, 2025, due to severe shortages caused by depleting reserves. In a notice issued to industrial associations, SSGC cited a pressing deficit in indigenous gas supplies, noting that priority will be given to

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