Category: Uncategorized

  • ‘Good news’ coming soon on electricity prices: Shehbaz Sharif

    ‘Good news’ coming soon on electricity prices: Shehbaz Sharif

    Prime Minister Shehbaz Sharif said on Wednesday that he will give the nation “good news” regarding reduced electricity costs and a new economic reform plan.

    “Today, there is inflation. People are worried about electricity bills and other problems. However, if not all is good in the country, not all is bad,” said the PM.

    “Our primary focus is on reducing power prices to provide relief to domestic consumers, agriculture, industry, exports, and business sectors. This is essential to navigate the current economic challenges. The competitiveness of our exports is directly linked to affordable electricity,” stated the premiere in an address to newly appointed officials of power distribution companies (DISCOS) on Tuesday.

    He highlighted that the Special Investment Facilitation Council (SIFC) was committed to lowering energy costs, which have placed a significant burden on the debt-ridden nation.

    He pointed out DISCOS’s inefficiencies and corruption, which have led to power theft costing around Rs 500 billion annually.

    “This is your greatest challenge. The government has deliberated on how to improve the system. You must give your best,” the PM stated, stressing that DISCOS officials’ appointments have been made on merit.

  • Why will there be no spectators at Pakistan- Bangladesh test?

    Why will there be no spectators at Pakistan- Bangladesh test?

    The second Test match between Pakistan and Bangladesh will be played in Karachi without spectators.

    According to a statement issued by the Pakistan Cricket Board (PCB), the second Test match between Pakistan and Bangladesh will be played from (August 30 to September 3). Construction work at the National Stadium in Karachi to prepare for the Champions Trophy 2025, is going on. Keeping the safety of spectators in mind, the Board has decided that fans will not be allowed in the stadium.

    The Board has also suspended the sale of tickets for the Karachi Test, with the money to be refunded.

    PCB is currently focused on hosting the ICC Champions Trophy 2025 and upgrading the stadium, as it is Pakistan’s first major tournament since 1996.

  • Imran Khan demands judicial council if Faiz’s arrest linked to May 9

    Imran Khan demands judicial council if Faiz’s arrest linked to May 9

    Founder Pakistan Tehreek-e-Insaf (PTI) Imran Khan has suggested that a judicial commission be formed if Gen Faiz’s arrest is related to May 9 events.

    His lawyer, Intezar Panjutha, addressed the media on Tuesday after holding a meeting with Khan.

    In an unprecedented move, the country’s former spymaster, Lt-Gen (retd) Faiz Hameed, was detained by military authorities and court martial proceedings were initiated against him on charges of corruption, misuse of authority and violating the Pakistan Army Act as announced by the ISPR on Monday.

    PTI has been unusually quiet on the entire matter, with Khan saying that it is an ‘internal matter’ of the Army distancing his party from it.

    Panjutha also stated that Khan believed it was time for the CJP Isa to step back, emphasising that PTI’s three seats were stolen and given to PML-N on Monday.

  • Gold rate hits Rs257,700 per tola following Rs1,200 single-day gain

    Gold rate hits Rs257,700 per tola following Rs1,200 single-day gain

    Gold prices in Pakistan saw an increase on Tuesday, aligning with a rise in international rates. The price of gold per tola in the local market climbed to Rs257,700, reflecting a gain of Rs1,200.

    Similarly, the price of 10-gramme gold rose to Rs220,936, up by Rs1,029, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This follows a steady price of Rs256,500 per tola on Monday.

    Internationally, gold prices also experienced an uptick. APGJSA reported that the international rate for gold reached $2,458 per ounce, with a premium of $20, marking an increase of $19 for the day.

    In contrast, silver prices remained stable at Rs2,850 per tola.

    Last month, gold prices saw a significant rise, reaching a record high of Rs257,300 per tola after increasing by Rs2,400.

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  • ISI officials under Faiz took diamond ornaments, 400 tola gold from Top City raid, petition reveals

    ISI officials under Faiz took diamond ornaments, 400 tola gold from Top City raid, petition reveals

    The petition against former spymaster General Faiz Hameed has revealed a shocking details of the allegations filed by Kanwar Moeez Khan, the proprietor of Top City.

    The petition, filed on Nov 2023, read that Pakistan Rangers and Inter-Service Intelligence (ISI) raided the Top City Housing Society office and took away gold, diamond ornaments, money and other valuables.

    The petition stated that Faiz Hameed’s brigadier cousin contacted him for a meeting after the Rawalpindi Anti-Terrorism Court (ATC) acquitted him.
    The petition revealed that the former DG told Moeez that he would return all other items except 400 tola gold and cash.
    It further read that retired brigadiers Naeem Fakhar and Ghaffar of ISI ‘’forced’’ the petitioner to ‘’pay four crore rupees in cash’’ and ‘’sponsor a private TV network for a few months’’.

    Earlier, Zahida Javed Aslam, a Pakistani-born British national, filed a complaint claiming Moeez was her employee and fraudulently transferred land in his name.

  • A Pakistan First: Secure Construction-Linked Property Payment Plan in DHA Islamabad

    A Pakistan First: Secure Construction-Linked Property Payment Plan in DHA Islamabad

    Islamabad — One Homes, a leading British investment group that builds tailor-made luxury properties for overseas Pakistanis has announced another Pakistan first: the first-ever construction-linked payment plan.

    The construction-linked payment plan addresses the specific pain points of overseas Pakistani property investors, providing greater transparency and security. By implementing these measures, One Homes plans to empower clients to confidently make property investments in their Motherland, assuring their financial interests are protected.

    On this occasion, Aqib Hassan, Chief Commercial Officer of One Homes, commented on the new offering and its purpose, “We understand the hesitation many overseas buyers experience when purchasing property in Pakistan. Over the years, our sole focus and our company ethos have been to cater to their requirements, from our five-star branded hotel apartments in Islamabad to our luxurious resort-style destinations.”

    He added, “The introduction of Pakistan’s first construction-linked payment plan is a testament to our commitment to providing safe and secure property investment in Pakistan. This latest initiative is meant to create a trustworthy environment where investors feel their financial interests are secure as they establish a deeper connection with their Motherland.”

    Another feature of the smart homes tailor-made for overseas buyers is the single suites with ensuite bedrooms and multifunctional spaces, catering to the dynamic needs of modern families. Both features are industry firsts in Pakistan’s property market, offering overseas investors upscale properties that combine the charm of Pakistan with contemporary facilities.

    Located in DHA Phase 3 an area which is benefitting from major infrastructure investments including the Islamabad Expressway and DHA interchange that have halved travel times to the city centre. Property prices in the area have increased by over 153.87% in the last 4 years according to official data released. 

    The development is adjacent to the newly established Roots Ivy International University and minutes away from the soon-to-be-opened Dolmen Mall City, Pakistan’s premier shopping destination, and a championship golf course. Along with that, it is bordered by the Takht Pari National Forest, giving it a touch of natural beauty and tranquillity.

    One Homes is committed to upholding international standards in services, amenities, and living, a hallmark across their projects. They each feature state-of-the-art fitness centres, infinity pools, and bespoke concierge services.With projects valued at $435 million in Pakistan, including developments like One Canal Road in Lahore and the recently launched Amaya Panoramas in Islamabad, One Homes is poised to put Pakistan’s real estate on the map.

  • Pakistan Army arrests former spy master Faiz Hameed in Top City Case

    Pakistan Army arrests former spy master Faiz Hameed in Top City Case

    The Pakistan Army has arrested former spy master Lt General Faiz Hameed (Retd) in the Top City Case.

    He has been accused of abuse of power by the owner of Top City Housing Society, Mueez Ahmad Khan.
    The army has issued a statement that an inquiry was conducted into the complaints in compliance with the order of Pakistan’s Supreme Court (SC).

    The military’s media wing stated that appropriate disciplinary action has been initiated after the investigation into Faiz Hameed, the former Chief of Inter-Service Intelligence (ISI).

    ISPR said that, ”several incidents of violation of the Army Act have also come to light after Faiz Hameed’s retirement and the process of Field General Court Martial has also been started”.

  • CJ-led SC bench reinstates three PML-N leaders’ NA membership

    CJ-led SC bench reinstates three PML-N leaders’ NA membership

    A three-member bench of the Supreme Court of Pakistan, headed by Chief Justice Qazi Faez Isa, restored the Election Commission of Pakistan’s (ECP) order to recount three Pakistan Muslim League-Nawaz (PML-N) members constituency results while reinstating them.

    The SC bench declared the Lahore High Court’s decision null and void while hearing the recount petitions of three different polling stations of NA-154, NA-81, and NA-79.

    However, the decision was made with a majority of 2-1, with Justice Aqeel Abbasi issuing a dissenting note.

    The court reinstated the election commission’s decision regarding the recount of votes for three PML-N members: Azhar Qayyum Nahra, Abdul Rehman Kanju, and Zulfiqar Ahmed.

  • Official vehicles, motorcycles in Lahore to display national flag

    Official vehicles, motorcycles in Lahore to display national flag

    Chief Traffic Officer (CTO) Lahore, Amara Azhar, has ordered the display of the national flag on all government vehicles and motorcycles.

    In a statement Azhar announced that traffic police are making extensive arrangements for Independence Day. During the celebrations, additional personnel will be deployed at Greater Iqbal Park, Wagah, and other key locations.

    She also mentioned that special measures are being implemented to address issues such as wheeling and racing.

    The CTO stated that temporary speed bumps will be installed to manage traffic during Independence Day celebrations.

  • Inflation increases again after short respite

    Inflation increases again after short respite

    The weekly inflation rate in the country has risen again, according to the Bureau of Statistics.

    Data indicates that the inflation rate has increased by 0.30 per cent, raising the annual inflation rate to 17.96 per cent.

    The report shows that prices for 23 items rose, while prices for seven items fell during the week, and 21 items remained stable.

    Increase in prices:

    • Onions increased by 32.23 % in one week.
    • Eggs rose by 4.28%
    • Garlic by 3.23%
    • LPG by 1.73%.

    Other items with rising prices this week include dal mash, dal moong, and potatoes.

    In contrast, the price of tomatoes decreased by 19.12% over the week, while bananas became cheaper by 1.55% and wheat flour by 1.39%.

    It is worth noting that there was a slight decrease of 0.12% in the weekly inflation rate last week.