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Finance

China's CR450: The World's Fastest High-Speed Train Breaks Records

China’s CR450: The World’s Fastest High-Speed Train Breaks Records

China has unveiled the CR450 high-speed train prototype, setting new global benchmarks in speed, efficiency, and innovation. The CR450 achieved a record test speed of 450 km/h (280 mph) and is expected to operate at 400 km/h in commercial service. This revolutionary development surpasses its predecessor, the CR400, which has dominated high-speed rail travel since…

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CCP and PPRA Strengthen Partnership to Promote Transparency in Public Procurement

CCP and PPRA Strengthen Partnership to Promote Transparency in Public Procurement

The Competition Commission of Pakistan (CCP) and the Public Procurement Regulatory Authority (PPRA) have taken a significant step toward enhancing transparency, accountability, and fairness in public procurement processes by signing an addendum to their existing Memorandum of Understanding (MoU). This partnership focuses on utilizing the E-Pak Acquisition and Disposal System (e-PADS) to detect and prevent…

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Pakistan Embarks on the 7th Agricultural Census with Advanced Digital Tools

Pakistan Embarks on the 7th Agricultural Census with Advanced Digital Tools

ISLAMABAD: The Pakistan Bureau of Statistics (PBS) has launched the much-anticipated 7th Agricultural Census 2024, a groundbreaking initiative designed to leverage advanced digital tools for data collection. The census aims to address critical issues of food security, sustainable farming, and agricultural resilience by providing evidence-based insights for policy formulation.   Key Highlights: Nationwide Operations The…

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Comprehensive Pension Reforms in Pakistan: A Step Towards Fiscal Stability

Comprehensive Pension Reforms in Pakistan: A Step Towards Fiscal Stability

Pakistan's government has introduced significant pension reforms, aligning with the demands of international creditors like the International Monetary Fund (IMF) and the World Bank. These reforms, effective from January 1, 2025, aim to address the country’s fiscal challenges, enhance transparency, and ensure sustainability in public finances.   Key Highlights of the Pension Reforms Elimination of…

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NHA Implements Significant Toll Tax Hike on Highways and Motorways

NHA Implements Significant Toll Tax Hike on Highways and Motorways

The National Highways Authority (NHA) has announced a substantial increase in toll taxes across highways and motorways, marking the third hike this year. The revised rates, effective January 5, 2025, aim to bolster revenue to meet the rising operational and infrastructure maintenance costs.     Key Toll Tax Revisions: Islamabad-Peshawar Motorway (M1): Cars: Rs. 500…

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Petroleum Prices in Pakistan for January 2025: A Complete Update

Petroleum Prices in Pakistan for January 2025: A Complete Update

Overview of Price Revisions On January 1, 2025, the federal government of Pakistan announced a revised pricing structure for petroleum products. The changes are applicable for the next fortnight and reflect adjustments based on fluctuations in the international market. The Oil and Gas Regulatory Authority (OGRA) calculated the new consumer prices, which have been notified…

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Uraan Pakistan: A Bold Vision to Revolutionize Pakistan’s Economy and Create 5 Million Jobs

Prime Minister Shehbaz Sharif recently unveiled "Uraan Pakistan," a groundbreaking five-year economic plan designed to propel Pakistan toward sustainable and inclusive growth. Spanning from 2024 to 2029, this initiative—dubbed the "Home-Grown National Economic Transformation Plan"—seeks to redefine Pakistan's economic landscape through a strategic focus on innovation, resilience, and global competitiveness. A Vision for Economic Transformation…

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iPhone SE 4 – The Affordable Flagship for 2025

iPhone SE 4 – The Affordable Flagship for 2025

The highly anticipated iPhone SE 4 is set to launch in the first quarter of 2025, bringing significant upgrades to Apple’s budget-friendly lineup. This release marks a milestone as Apple integrates its in-house 5G modem, codenamed “Centauri,” into the device. The move reflects Apple’s strategic push to reduce reliance on Qualcomm, streamline its supply chain,…

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LDA Holds Transparent Balloting for Residential Plots in Lahore: Affordable Housing for All

LDA Holds Transparent Balloting for Residential Plots in Lahore: Affordable Housing for All

The Lahore Development Authority (LDA), in collaboration with the Punjab Information Technology Board (PITB), conducted computerized balloting for five and seven marla residential plots in Tajpura, Jubilee Town, and Johar Town. The event took place at the Expo Center and was attended by notable figures, including Punjab Minister for Housing Bilal Yasin, LDA Vice Chairman…

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Punjab Government to Launch Groundbreaking Electric Taxi Service for Cleaner and Greener Transportation

Punjab Government to Launch Groundbreaking Electric Taxi Service for Cleaner and Greener Transportation

The Punjab government has announced an innovative electric taxi service across the province, inspired by China’s successful electric vehicle (EV) taxi programs. This transformative initiative aims to address pressing environmental concerns and bolster economic growth. Spearheaded by Transport Minister Bilal Akbar Khan under the directives of Chief Minister Maryam Nawaz, the program is set to…

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Shocking Revelation: Pakistan’s Top 5% Evade Taxes Worth Rs. 1.6 Trillion

Shocking Revelation: Pakistan’s Top 5% Evade Taxes Worth Rs. 1.6 Trillion Tax evasion has long plagued Pakistan’s economy, with the top 5 percent of earners contributing disproportionately to the widening fiscal deficit. In a recent press conference, Chairman of the Federal Board of Revenue (FBR), Rashid Mahmood Langrial, and Finance Minister Muhammad Aurangzeb highlighted the…

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Trump’s Fight to Save TikTok: Navigating Free Speech and National Security Concerns

Trump’s Fight to Save TikTok: Navigating Free Speech and National Security Concerns

In a landmark legal battle, President-elect Donald Trump has urged the U.S. Supreme Court to delay a law that would ban TikTok from operating in the United States unless it is sold by its Chinese parent company, ByteDance. The ban is set to take effect on January 19, a day before Trump assumes office, putting…

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Flyadeal Expands Horizons: Scheduled Flights from Pakistan to Saudi Arabia Begin in 2025

Crackdown on Unpaid Token Taxes and New Vehicle Number Plate Policy in Islamabad and Sindh

Saudi Arabia's rapidly growing low-cost airline, Flyadeal, has unveiled its ambitious international expansion plans, marking its debut in South Asia with scheduled services from Pakistan to Saudi Arabia starting February 2, 2025. This milestone builds on the strong cultural, historical, and economic ties between the two nations. Flyadeal will initially operate flights connecting Karachi to…

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The Bald Eagle: America’s Official National Bird and a Symbol of Resilience

The Bald Eagle: America’s Official National Bird and a Symbol of Resilience

After serving as a symbol of strength and freedom for over two centuries, the bald eagle has officially been named the national bird of the United States. On Christmas Eve, President Joe Biden signed bipartisan legislation, finally granting this majestic bird the legal recognition it has long symbolized.   A Historic Symbol Recognized at Last…

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Arif Saeed and Khalid Mahmood Set to Lead Pakistan Olympic Association After Unanimous Support

Arif Saeed and Khalid Mahmood Set to Lead Pakistan Olympic Association After Unanimous Support

In a significant development for Pakistan’s sports community, Arif Saeed, President of the Pakistan Rugby Union (PRU), and Khalid Mahmood, President of the Pakistan Boxing Federation (PBF), are expected to be unanimously elected as the new President and Secretary of the Pakistan Olympic Association (POA). The elections are scheduled for December 30th in Lahore, with…

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SECP Approves Guidelines for Stock Splits and SBP Issues New Regulatory Framework for Exchange Companies

SECP Approves Guidelines for Stock Splits and SBP Issues New Regulatory Framework for Exchange Companies

ISLAMABAD, December 27, 2024: The Securities and Exchange Commission of Pakistan (SECP) has granted approval to the Pakistan Stock Exchange Limited (PSX) for issuing detailed guidelines on stock splits by listed companies. This move is expected to invigorate Pakistan's capital markets by enhancing liquidity and broadening investor access. On the same day, the State…

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Packages Limited Invests Rs. 3 Billion in StarchPack to Strengthen Operations

Packages Limited Invests Rs. 3 Billion in StarchPack to Strengthen Operations

In a significant move to bolster its presence in the starch industry, the Board of Directors of Packages Limited (PSX: PKGS) has approved a capital injection of up to Rs. 3 billion into its wholly owned subsidiary, StarchPack (Private) Limited. The investment, announced via a filing to the Pakistan Stock Exchange (PSX), reflects Packages Limited's…

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The Top 5% Wealthiest Pakistanis Owe Rs 1.6 Trillion in Unpaid Taxes: FBR

The Top 5% Wealthiest Pakistanis Owe Rs 1.6 Trillion in Unpaid Taxes: FBR

According to the Federal Board of Revenue (FBR) Chairman, the wealthiest 5% of Pakistanis owe a staggering Rs 1.6 trillion in unpaid taxes. This revelation has reignited discussions about economic inequality, tax evasion, and the urgent need for comprehensive tax reforms in Pakistan.   Breaking Down the Rs 1.6 Trillion Tax Gap The unpaid taxes…

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PTA's Authority to Access User Data: What It Means for Privacy

PTA’s Authority to Access User Data: What It Means for Privacy

The Pakistan Telecommunication Authority (PTA) has been granted sweeping powers to access user data and browsing history, raising significant concerns about privacy, security, and digital rights in the country. This move has sparked widespread debate among citizens, policymakers, and advocacy groups about its implications for internet freedom and individual privacy.   What Does PTA’s New…

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Pakistan's Agriculture Sector: A $10 Billion Opportunity with Tech Adoption

Pakistan’s Agriculture Sector: A $10 Billion Opportunity with Tech Adoption

Agriculture has been the backbone of Pakistan's economy for decades, contributing approximately 24% to the country's GDP and employing over 38% of the workforce. Yet, this vital sector operates far below its potential due to outdated farming practices, limited use of technology, and inefficient resource management. According to the Pakistan Software Houses Association for IT…

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