Latest News

Iran Avenue is the new name of the highway in Islamabad, Pakistan.

Published

2 weeks ago

Farwa

The federal government has decided to rename Eleventh Avenue in Islamabad as Iran Avenue. The federal cabinet has decided to proceed with the CDA summary’s distribution.

It should be mentioned that the CDA has commenced work on Eleventh Avenue.

In Pakistan, Raisi
Today marks the official start of President Ebrahim Raisi’s three-day visit to Pakistan from Iran.

Along with senior officials and a high-level delegation of cabinet members, the Iranian president arrived at the nation’s capital with his spouse.

Pakistan’s ambassador to Iran, Mudassir Tipu, and Housing Minister Mian Riaz Hussain Pirzada met Raisi upon his arrival at the Islamabad airport, according to the Foreign Office (FO).

According to the foreign office, the Iranian president will meet with Pakistan’s president, speaker of the National Assembly, Senate chairman, and prime minister during his visit, which runs from April 22 to 24.

To improve commerce, bilateral ties, and cooperation in the energy, agricultural, and other areas, the officials will hold talks.

According to the foreign office, the parties will have discussions about working together on regional and international matters as well as bilaterally to combat the shared menace of terrorism.

The gas pipeline project, bilateral relations, security cooperation, and the investigation of possible free trade agreements are all on President Raisi’s agenda, according to sources.

A combined special economic zone between Pakistan and Iran has also been decided upon in an effort to strengthen economic ties between the two nations.

The signing of the Memorandum of Understanding (MoU) with Iran during President Ebrahim Raisi’s travel to Pakistan on April 22 (Monday) has been approved by the federal cabinet,

According to sources, the draft of the memorandum of understanding (MoU) between the two countries has been finished, and it states that a special economic zone will be built on the border between Ramdan and Gabad.

According to insiders, the Joint Special Economic Zone will be created at the level of governments.

Business

Pakistan’s gold prices continue to decline.

Published

12 hours ago

Farwa

The price of ten grams of 24 carat gold dropped by Rs 1,201 to Rs 205,418 from Rs 206,619, while the price of ten grams of 22 carat gold dropped to Rs 188,300 from Rs 189,400, according to the All Sindh Sarafa Jewellers Association.

Silver, priced at Rs. 2,620 per tola and Rs. 2,254.80 per ten grams, stayed at that level. As reported by the organization, the price of gold dropped by $11 on the global market, to $2,297 from $2,308.

Business

Price of LPG “slashed” by Rs. 20 per kilogram

Published

12 hours ago

Farwa

Sources claim that LPG rates have been lowered by Rs 20, making the cost per kilogram drop from Rs 280 to Rs 260.

It is noteworthy to remark that the costs of LPG were reduced by Rs 20 per kilogram earlier, resulting in a total reduction of Rs 40 per kilogram within a few weeks.

The price of liquefied petroleum gas for the month of May 2024 was lowered by the Oil and Gas Regulatory Authority (OGRA) on April 30.

The LPG tariffs were lowered by Rs 11.88 to Rs 238.46 per kilogram in accordance with the OGRA’s notice. On Wednesday, May 1, 2024, the new rates will go into effect.

In April of last year, the price per kilogram of LPG was Rs 250.34. pricing reduction of Rs 140.18 has resulted in a new pricing for home LPG cylinders set for May 2024 of Rs 2813.85.

The OGRA reported a drop in liquefied petroleum gas pricing in April. The price of LPG is now Rs 250.34 per kg instead of Rs 256.78 due to a reduction of Rs 6.44 per kg.

The price of the household cylinder was fixed at Rs 2954.03 for the month of April, down from Rs 3030.12, a decrease of Rs 76.9.

Business

ADB delegation stops by FBR headquarters

Published

12 hours ago

Farwa

Senior Director ADB Tariq Niazi oversaw the expedition, which also involved Sana Masood, Farzana Noshab, and Senior Public Sector Management Specialist Laisiasa Tora. The meeting included presentations from economists as well, according to an FBR press release.

The officers focused on structural and policy adjustments as they discussed the Domestic Resource Mobilization Program’s implementation at the meeting.

$300 million was given to the Pakistani government by ADB in December 2023 as a result of the hard work and dedication of FBR. Better laws, regulations, and institutional capability for the FBR were established by Sub-Program I.

With the $300 million in funding provided by the Asian Development Bank (ADB) to the Government of Pakistan in December 2023, the delegation conveyed satisfaction with the program’s effective launch.

The FBR also underlined how crucial digitization is to recording the economy and boosting productivity in a sustainable way.

In order to promote the Government of Pakistan’s Digital Tax Administration Project, both parties decided to look into measures to improve their cooperation.