ISLAMABAD: The government is preparing to reduce the income-tax burden on salaried individuals in the upcoming federal budget while leaving salaries and pensions unchanged, a step aimed at extending comparable fiscal relief to workers in both the public and private sectors, Dawn newspaper reported on Monday.
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Trump rejects Iranian counteroffer on ending Persian Gulf war, as fragile ceasefire faces fresh tests
ISLAMABAD: President Donald Trump on Sunday dismissed Iran’s formal response to the latest US proposal for ending the war in the Persian Gulf as “TOTALLY UNACCEPTABLE,” delivering a sharp setback to diplomatic efforts aimed at reopening the Strait of Hormuz and halting a conflict that has disrupted global energy markets and tested a month-old ceasefire.
Pakistan to debut in Chinese debt market with $250 million panda bond next week
ISLAMABAD: Pakistan is poised to tap Chinese capital markets for the first time with a yuan-denominated bond issue next week, Finance Minister Muhammad Aurangzeb said, as the government moves to strengthen foreign-exchange reserves and broaden its sources of external financing.
Iran delivers response to US proposal to end Gulf war, via Pakistan, as drone attacks and shipping disruptions persist
ISLAMABAD: Iran has formally transmitted its response to the latest US proposal aimed at ending the more than two-month-old war in the Persian Gulf, delivering the reply through Pakistani mediators, Iranian state media reported Sunday.
15 police officers killed in suicide bombing at northwestern Bannu checkpost
BANNU: Militants rammed an explosives-laden vehicle into a police checkpost in the northwestern Khyber Pakhtunkhwa province late on Saturday, triggering a powerful blast that killed 15 officers and touched off a fierce gunfight, authorities said on Sunday.
Military chief warns of ‘far-reaching and painful’ consequences for any future aggression by India
RAWALPINDI: Field Marshal Syed Asim Munir, the chief of defence forces and chief of army staff, warned on Sunday that any future “misadventure” against Pakistan would produce “extremely far-reaching and painful” consequences for the aggressor, delivering the message at a high-profile military ceremony marking the first anniversary of the country’s victory in last year’s brief but intense conflict with India.
Pakistan says fuel-price increase required by IMF deal despite stable global markets
ISLAMABAD: The petroleum minister on Saturday defended the government’s decision to raise petrol and diesel prices by nearly Rs15 a liter, saying the increase was required to honor commitments made to the International Monetary Fund even though global oil markets had shown no major swings.
Pakistan marks first anniversary of ‘Marka-e-Haq,’ hailing military standoff with India as a defining victory
ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday said that Pakistan “can neither be intimidated nor subdued by any aggressor,” as the government observed the first anniversary of the military confrontation with India that the country has christened Marka-i-Haq, or Battle of Truth.
Pakistan and Bangladesh sign agreement to combat drug trafficking as bilateral ties continue to warm
ISLAMABAD: Pakistan’s Interior Minister Mohsin Naqvi and his Bangladeshi counterpart, Salahuddin Ahmed, signed a memorandum of understanding on Saturday aimed at deepening cooperation against drug trafficking and narcotics abuse, officials said.
Pakistan returns to LNG spot market with Qatar supplies still stalled
ISLAMABAD: Pakistan LNG Ltd. invited international suppliers Saturday to bid for two spot cargoes of liquefied natural gas, the second tender in a week, as deliveries from its primary supplier Qatar stayed blocked by continued restrictions in the Strait of Hormuz.