Day: March 11, 2026

ISLAMABAD: Auditors have declared the deputation, absorption and promotion of former chief executive officer of the Engineering Development Board (EDB) Engineer Khuda Bukhsh as illegal. Documents revealed that he had promoted himself along with some other officials while serving as the EDB CEO with a “look-after” charge. Other officials promoted were Raazia Shaikh, M Shahzad and Asim Ayaz. During audit, the auditors observed that according to Serial No 27(iv) of ESTA Code Volume-I (Civil Establishment Code), the normal tenure of deputation was three years, extendable by a further period of…

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LAHORE: The Implementation Committee on Diamer-Bhasha and Mohmand Dams (ICDBMD) met on Tuesday to discuss matters related to land acquisition and the resettlement of locals. Commissioner Diamer Astore Division briefed the committee about compliance with the decisions made during the previous meeting and the issues pertaining to payment of compensation to the affectees, particularly the “Missing and Double Chula (Household) Package”. GM (Land Acquisition and Resettlement) of the Water and Power Development Authority (Wapda) spoke about the leftover land, mutation of land, Ginni Pozzolan, Tangir Hydropower Project and boundary dispute…

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LAHORE: The State Bank of Pakistan (SBP)’s decision to maintain the policy rate at 10.5% presents an opportunity to expand targeted credit for the manufacturing sector while safeguarding macroeconomic stability, according to a review released by the Institute of Cost and Management Accountants of Pakistan (ICMA). In its latest assessment of the Monetary Policy Statement, ICMA’s Research Department said the central bank’s decision to hold the policy rate reflected rising uncertainty triggered by conflict in the Middle East, which has pushed up global fuel prices, freight and insurance costs. According…

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Fears of a petrol shortage in Pakistan began to subside on Tuesday as oil shipments began arriving at Port Qasim after fuel prices surged amid the ongoing US-Iran conflict in the Middle East. According to Port Qasim Authority (PQA) spokesperson Asad Altaf Hussain Warsi, the vessel Torm Damini has already discharged about 37,000 metric tonnes of gas oil at Port Qasim over roughly 40 hours and is scheduled to sail tonight. “The tanker Nave Atropos, carrying around 50,000 metric tonnes of Mogas (motor gasoline) from Singapore, arrived at Port Qasim…

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KARACHI: Workers’ remittances sent by overseas Pakistanis declined on a month-on-month basis in February, though inflows remained above the $3 billion mark, with the United Arab Emirates (UAE) emerging as the largest source of remittances during the month, overtaking Saudi Arabia, which has traditionally been Pakistan’s top remittance corridor. According to data released by the State Bank of Pakistan (SBP), remittances amounted to $3.29 billion in February 2026, down about 5% compared to $3.46 billion recorded in January. However, inflows were 5.2% higher than the $3.13 billion received in February…

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