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World Bank Greenlights $70 Million Loan for 'Connected Punjab' to Onboard 2.1 Million Citizens via Expanded Fiber Broadband
The Sindh government has filed a review petition in the Supreme Court against the June 10 acquittal of MQM workers Rehman Bhola and Zubair Chariya in the 2012 Baldia factory fire case. Filed by Prosecutor General Shabbir Shah, the petition argues the SC verdict ignored key medical, eyewitness, and chemical evidence regarding the tragedy that claimed over 260 lives.
News Desk
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Sri Lanka Slashes Fuel Prices Up to 6% as Global Oil Eases Following Middle East Ceasefire Developments
Sri Lanka has announced an official fuel price cut of up to six percent, lowering diesel to 382 rupees and petrol to 414 rupees per liter. The reduction marks the island nation's first major energy relief since prices spiked by 50 percent following the outbreak of Middle East hostilities in February, aligning with a cooling global oil market as the US and Iran agree to diplomatic talks.
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No Change at the Pumps: Government Freezes Petrol and Diesel Prices 'Till Further Orders'
The federal government has announced that petrol and high-speed diesel prices will remain unchanged at Rs299.50 and Rs311.47 per litre "till further orders." The price freeze maintains the massive relief cuts enacted last week, locking in a reprieve for commuters and logistics sectors after a volatile spring that saw wartime fuel costs peak at a historic Rs458 and Rs520 per litre.
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Federal Government Discontinues Target Fuel Subsidies for Bikers and Farmers as Global Oil Prices Crash
The federal government has ended its emergency fuel subsidy program for bikers, public transport operators, and small farmers, citing the recent sharp decline in global oil prices. Managed by Deputy PM Ishaq Dar, the targeted relief scheme—originally launched when the Iran conflict drove petrol to a record Rs458 per litre—has been shelved now that domestic petrol prices have dropped back to Rs299.50 per litre.
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Global Oil Prices Drop 2% as U.S.-Iran Swiss Summit Concludes with Sanctions Relief Hopes
Global oil prices dropped over 2% on Monday, with Brent crude falling to $78.89 a barrel after U.S.-Iran talks in Switzerland concluded with Tehran securing critical export waivers. The diplomatic breakthrough is expected to allow 1.5 million barrels per day of Iranian crude to re-enter international markets, neutralizing early morning price spikes triggered by brief shipping closures in the Strait of Hormuz.
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Human Over Financial Capital: Lawmakers Urge Transition From Fiscal Consolidation to Climate Adaptation
A cross-party panel of lawmakers and financial experts, convened by MNA Shaista Pervaiz, has urged the government to align the Federal Budget 2026–27 with Pakistan's demographic and climate realities. Warning that the country's population is projected to reach 400 million by 2050, the forum emphasized that sustainable economic growth is impossible without prioritizing climate resilience, girls' education, and maternal healthcare over basic fiscal consolidation.
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PIA Handover to New Owners Set for June Deadline After Regulatory and IMF Clearances
The privatization of PIA will be fully completed before the end of June 2026, transferring 100% control to a private consortium led by Fatima Fertilizer and Fauji Fertilizer. Backed by an IMF-cleared 15-year tax exemption on aircraft leases and equipment, the deal opens the door for an aggressive FY27 state pipeline that includes outsourcing Karachi and Lahore airports and selling five power distribution companies.
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Balochistan Assembly Passes Record Rs1.189Tr Fiscal Budget for FY 2026–27
The Balochistan Assembly has passed a Rs1.189 trillion provincial budget for FY 2026–27, approving all 118 demands for grants with zero cut motions from the opposition. Presenting a split of Rs797.8 billion for non-development and Rs291 billion for development, the budget prioritizes civil pensions, law enforcement, healthcare, and infrastructure development.
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