Category: Islamabad

Islamabad:PML-N leader Kausar Kazmi welcomed a high-powered American delegation, led by esteemed hedge fund manager Gentry Beach, who expressed strong interest in investing in Pakistan, rekindling hopes of revitalising economic ties between Islamabad and Washington.

In an exclusive conversation with a private news channel, PML-N leader Kausar Kazmi expressed optimism that the relationship between Pakistan and the US would experience a significant revival under the administration of Donald John Trump, building on the renewed interest shown by American investors like Gentry Beach.

He termed the development as a "landmark progress", revealing that American investor Gentry Beach had previously been misled by a distorted image of Pakistan, but now acknowledges the country's true potential.

Kazmi stated that the current government aims to foster robust relationships with neighbouring countries, including the United States of America.

He further termed the influx of foreign investment as a highly positive sign, indicating that investors have renewed trust in Pakistan's rebuilding efforts, adding, that this surge in foreign investment is a significant boost to Pakistan's economy, reflecting the country's potential for growth and development.

Responding to a query, Kausar Kazmi lamented that fake news had severely tarnished Pakistan's image, eroding investor trust.

However, he noted that the situation is now improving, citing Gentry Beach's acknowledgement of being misled by false narratives, he mentioned.

Beach's willingness to revisit his perception of Pakistan is a positive sign, Kazmi added, indicating a revival of investor confidence in the country.

Islamabad:The District and Sessions Court in Islamabad on Thursday awarded death sentence to two accused namely Ayaz bin Tariq and Afaq Ahmad in a case pertaining to uploading of blasphemous content on social media.

Additional District and Sessions Judge Muhammad Afzal Majoka heard the case.

The accused were found guilty of posting offensive material online, leading to their conviction under multiple legal provisions.

The case was registered by the FIA Cyber Crime Cell Islamabad in 2021.

The court sentenced both accused to death under Section 295-C and imposed a fine of Rs 500,000. They were also sentenced to life imprisonment under Section 295-B. Additionally, the court awarded three years of imprisonment and a Rs 100,000 fine under Section 298-A.

Under Section 11 of PECA, the court sentenced both individuals to seven years in prison and imposed a fine of Rs 100,000.

Islamabad:Pakistan's solar revolution is rewriting the energy landscape as communities and businesses take control of their power supply. With 22 GW of solar panels imported in just 18 months, the country is undergoing a mass shift towards decentralized solar solutions.

This was discussed at the Great Solar Rush Conference 2025, hosted by Renewables First and the Pakistan Solar Association on Thursday, said a press release.

In her opening remarks, Senator Sherry Rehman emphasized the urgency of policy alignment with this people-led transformation, stating, 'Pakistan has emerged as a market leader in South Asia for solar adoption. We should not be disabling this revolution; we should be enabling it.' She warned that failure to integrate solar into national planning would stall Pakistan's progress on energy security and economic stability.

Zeeshan Ashfaq, CEO of Renewables First, highlighted the economic realities driving this transition. 'Millions of people are rushing towards installing solar PV panels-not because of climate change but because economics make perfect sense.'

Ali Majid, General Manager of Longi, proposed that public sector projects should be mandated to use 'Made in Pakistan' panels to attract international investment in local assembly plants.

Waqas Moosa, Chairman of the Pakistan Solar Association, reinforced that Pakistan's solar adoption rate is one of the highest globally.

Syed Faizan Ali Shah, Member of the Prime Minister's Solarization Committee, revealed that Pakistan's daytime electricity demand has fallen by 10 TWh annually due to the solar surge, creating imbalances for grid operators.

Dr. Fiaz Chaudhary, Chairman of NTDC, said to address the operational challenges, Pakistan's grid must urgently integrate smart metering and distributed energy controls.

Umer Farooq of LUMS Energy Institute emphasized that Pakistan's energy planning must shift from a top-down approach to decentralized, smart-grid solutions to balance supply and demand efficiently.

As solar becomes a dominant energy source, market liberalization through the Competitive Trading Bilateral Contract Market (CTBCM) is essential.

Salman Amin, a Member of the Competition Commission of Pakistan, stated, 'A competitive electricity market will lead to more efficient resource allocation, increased innovation, better service quality, and stakeholder adoption of cleaner, cost-effective technologies'.

Industry representatives present at the event stressed the need for lowering wheel charges in the CTBCM model to promote market participation.

While commenting on the monopolistic nature of the power sector Usama Mela, Member of the National Assembly and Member of the Energy and Economy Forum, commented that as long as independent power producers are subject to guaranteed returns, they do not represent competitive businesses.

He agreed that greater competition in the power sector is the sensible way forward. However, it must be considered within the larger context of grid issues and capacity payments.

Member of National Assembly Dr. Nafisa Shah emphasized that there is a need to gradually open up the power sector for competitive trade under the CTBCM model while also considering the past contracts and decisions that are clogging the system.

Sonia Dunlop, CEO of the Global Solar Council, delivered the closing remarks, highlighting Pakistan's remarkable solar growth on the global stage. 'Pakistan was the market that surprised so many all over the world,' she stated, noting that Pakistan is contributing significantly to the 600 GW of solar deployed worldwide in 2023.

The conference reinforced a message: Pakistan's solar transition is unstoppable.

Islamabad:The prudent policies, administrative measures and relief measures implemented by the government helped in effectively curb inflationary pressures amid significant drop in the inflation rate and price of essential items.

Inflation during the first six months of FY2024-25 (July-December) declined to 7.2% compared to 28.8% in the same period last year, said the Ministry of Finance in a press statement issued here.

In December 2024, inflation was recorded at 4.1%, the lowest in 80 months (since April 2018, when it stood at 3.96%).

The sharp decline in inflation is attributed to exchange rate stability, prudent fiscal management, and improved supply arrangements for essential commodities. Strict action against illegal foreign exchange companies, smuggling, and hoarding has helped stabilize the exchange rate, boost market confidence, and ensure a steady supply of goods, it added.

The Sensitive Price Index (SPI), which tracks the weekly price movement of 51 essential items, has shown a continuous decline over the last four weeks of January 2025. In the week ending on 23rd January 2025, the SPI decreased by 0.77%. During this period, prices of 12 items decreased, 14 increased, and 25 remained stable, indicating overall stability or a downward trend in the prices of essential goods.

The Economic Coordination Committee (ECC) had observed an abnormal increase in the prices of pulses and chicken in early November and took corrective measures. As a result, the price of gram pulse declined by Rs 52.5 per kg (from Rs 411.3 to Rs 358.8), and mash pulse decreased by Rs 37.4 per kg (from Rs 528.3 to Rs 490.9).

Similarly, chicken prices dropped by Rs 20.1 per kg (from Rs 460.6 to Rs 440.5), and the price of a 20kg wheat flour bag fell significantly from Rs 2816.5 to Rs 1794.3, a reduction of Rs 1022.2.

Over the past four weeks, significant price reductions have been observed in tomatoes, potatoes, pulses, eggs, and LPG.

Islamabad:The District and Sessions Court in Islamabad on Thursday adjourned the case against Pakistan Tehreek-e-Insaf (PTI) leader Rauf Hassan without a hearing, as the challan was not submitted.

Judicial Magistrate Abbas Shah was scheduled to hearing the case.

Hassan faces charges for allegedly propagating against state institutions. The trial will commence once the challan is submitted.

However, the court adjourned the case till February 26, as further legal proceedings depend on the challan's submission.

Islamabad:The Civil Service Academy (CSA), Lahore and the Health Services Academy (HAS) have formalized a collaboration through signing of a Memorandum of Understanding.

Director General CSA, Lahore Farhan Aziz Khawaja and Vice Chancellor HAS Prof. Dr. Shahzad Ali Khan signed the accord that aims at capacity-building of civil servants to foster innovation, research, sustainable development, healthy aging and preventive care.

The objective of the MoU is to drive an impactful change and advance public health initiatives in the country, said a press release from HSA.