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Pakistan welcomes Japan’s interest in the Reko Diq mining project – SUCH TV

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Pakistan welcomes Japan’s interest in the Reko Diq mining project – SUCH TV



Federal Minister for Petroleum Ali Pervaiz Malik on Thursday welcomed the Japan Bank for International Cooperation’s (JBIC) interest in Pakistan’s landmark Reko Diq mining project, calling it an important step toward strengthening bilateral ties in the mining and energy sectors.

The announcement came during a meeting in Islamabad between Minister Malik and a JBIC delegation led by Taro Kato, Director General of Mining and Metals Finance, the ministry reported.

Minister Malik appreciated Japan’s confidence in Pakistan’s economic potential, saying, “The mining sector has made remarkable progress, and we are committed to making it a key pillar of our economy.”

He assured the JBIC delegation of full support from both federal and provincial governments and emphasized that the Reko Diq project would set a benchmark for responsible and sustainable mining practices in Pakistan.

Malik also highlighted the government’s broader plan to streamline the regulatory framework and attract international investment, positioning Pakistan as a prime destination for global mining and energy projects.

Taro Kato noted growing interest from Japanese investors in Pakistan and expressed JBIC’s willingness to expand cooperation beyond mining into the wider energy sector.

Kenichiro Kitamura, JBIC’s Chief Representative for the Middle East, said that high-level engagements like this would enhance Japanese investor confidence, build trust, and lay the foundation for mutually beneficial partnerships.

The meeting concluded with both sides reaffirming their commitment to close collaboration, aiming to leverage Japan’s financial and technological expertise to unlock Pakistan’s natural resource potential.



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Waiting For The 8th Pay Commission? Here’s How Inflation Could Decide Your Salary Hike

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Waiting For The 8th Pay Commission? Here’s How Inflation Could Decide Your Salary Hike


New Delhi: Central government employees across India are eagerly waiting for the implementation of the 8th Pay Commission, which is expected to revise salaries, pensions, and allowances. These revisions are decided based on the fitment factor, a key multiplier that takes into account inflation, employee needs, and the government’s financial capacity. Inflation plays an important role in these revisions, as it directly affects cost of living and the real value of salaries.

The history of pay commissions shows how inflation and wages have moved together over the years. The 5th Pay Commission was implemented in 1997, when average inflation stood at 7 percent and the minimum monthly pay was fixed at Rs 2,550. While this commission simplified pay scales and introduced dearness relief, salaries eventually lagged behind inflation. In 2008, during the 6th Pay Commission, inflation was around 8–10 percent and the minimum monthly pay was raised to Rs 7,000, an increase of Rs 4,450. This commission brought in structural reforms by introducing pay bands and grade pay, resulting in sharper salary hikes.

The 7th Pay Commission came into effect in 2016, with inflation averaging 5–6 percent. At this time, the minimum salary was set at Rs 18,000, a jump of Rs 11,000 from the previous commission. The 7th Pay Commission introduced the pay matrix system, made pension rules more generous, and even sparked conversations about work-life balance.

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Looking ahead, the 8th Pay Commission is tentatively expected to be implemented in 2026, with inflation projected at around 6–7 percent. According to Ambit Institutional Equities, salaries could rise by 30–34 percent under the new commission. However, the government has not yet released official details. Reports suggest that the revised pay scale will account for inflation, economic growth, and a push towards fairer compensation across different roles.

The structure of government salaries typically includes four major components. Basic pay makes up about 51.5 percent of total income, while dearness allowance accounts for nearly 30.9 percent. House rent allowance contributes around 15.4 percent, and transport allowance adds another 2.2 percent. Together, these allowances and revisions are designed to cushion employees against inflation and help maintain their standard of living.

With the 8th Pay Commission on the horizon, government employees are hopeful of a significant salary revision that reflects rising costs and economic realities. While projections hint at a 30–34 percent hike, the final decision rests with the government, and employees across the country are waiting keenly for an official announcement.

 

 



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Peak time rail fares scrapped on ScotRail trains

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Peak time rail fares scrapped on ScotRail trains


Debbie JacksonBBC Scotland News

Getty Images A close-up image of a train ticket from Edinburgh to Glasgow Central, held in someone's hand. The ticket is orange and white.Getty Images

From 1 September, there will be no more peak fares on ScotRail trains

Peak rail fares have been scrapped on ScotRail trains, meaning passengers will no longer pay higher prices for travelling on busy weekday trains.

Until now, many ScotRail tickets were based on the time of travel. Edinburgh to Glasgow peak times will be almost 50% cheaper, with trips between Perth and Dundee a third lower.

The Scottish government-owned operator said its aim was to get more commuters out of cars and onto trains.

Season tickets and fares on routes with peak time prices are unchanged. Multi-journey flexipass tickets have been adjusted with smaller savings.

Peak ScotRail fares used to cover tickets bought for travel before 09:15 on weekdays and certain services between 16:42 and 18:30.

A pilot scheme scrapping peak-time fares, a policy championed by the Scottish Greens, was introduced in 2023 but ended in September 2024 after ministers said the costs of the subsidy could not be justified.

However, in his programme for government speech in May, First Minister John Swinney announced that peak fares would again be scrapped.

Speaking at the launch of the scheme in Edinburgh on Monday, he said it would help people to move “from their cars onto trains”, which would provide environmental benefits.

He added: “This is financially sustainable because it’s an investment in the rail network and it’s an investment in the people of Scotland.

“People in Scotland simply travelling from Edinburgh to Glasgow on a daily basis will see their travel costs fall by almost 50%. That’s a massive saving when people are struggling financially.”

ScotRail ticketing will also be more straightforward and flexible under the new system, the firm has said.

How is scrapping peak fares being paid for?

A digital billboard at Queen Street Station in Glasgow  says "Peak fares. Gone for good."

ScotRail has launched a marketing campaign to promote the cheaper fares

ScotRail has been owned and run by the Scottish government since 2022.

In October 2023 the rail firm started a year-long trial of scrapping peak fares with the aim of persuading more people to swap car journeys for rail travel.

Last year, Scottish ministers announced the trial had “limited success” and would not be extended.

An evaluation of the first nine months of the trial found passenger levels increased by a maximum of about 6.8%.

This represented around four million extra rail journeys, of which two million are journeys that would previously have been made by private car.

However, the scheme required a 10% rise to be self-financing.

Scotland’s Transport Secretary Fiona Hyslop also said at the time that the pilot “primarily benefited existing train passengers and those with medium to higher incomes”.

The evaluation found the estimated cost of the scheme was “in the annual range of £25m to £30m per annum (in 2024 prices) with the possibility of being as large as £40m”.

Swinney said he expected the annual cost to be between £40m to £45m each year and lead to a “huge saving” for individuals.

If the new scheme does not become self-financing through an increase in passenger numbers, the costs will be met from the ScotRail budget.

This is made up of revenue from passenger fares and the £1.6bn the Scottish government puts into rail services every year.

Getty Images A ScotRail train arrives at Waverly station in Edinburgh in the sunshine, the castle in the background. People are making their way off the train and up the platform.Getty Images

ScotRail ticketing will be more simple and flexible under the new system

Joanne Maguire, managing director at ScotRail told BBC Scotland News: “We are really excited at the opportunity to get more customers out of their cars and onto the railway.

“If you are travelling from Edinburgh to Glasgow you will see a saving of about 50%.

“From Inverkeithing to Edinburgh, you will save 40% and between Inverness and Elgin it is 35% – so it’s great news for our passengers.”

Ms Maguire said the trial period had seen an increase in passenger numbers and that ScotRail had enjoyed a successful summer of moving customers around to numerous big leisure events.

She added that the goal now was to grow the commuter passenger base.

Tommy Whitelaw, who has a bald head and is wearing glasses, is seen from the mid-chest up. He appears to be middle-aged, has a friendly expression and is smiling. He is wearing a dark olive green or greyish-green jacket or windbreaker with a zipper and a hood.  In the background is a train station with large windows with reflective glass showing a city street scene beyond, including a light-coloured building with arched windows.

Passenger Tommy Whitelaw said the end of peak fares made a huge difference

‘Deeply unfair tax’

Several passengers at Glasgow’s Queen Street station told BBC Scotland News they were unaware that peak time fares had been dropped – but welcomed the move.

Student Robbie McCormack said: “I commute every day for college and it’s quite expensive.

“I’ll be able to save throughout the week, save more college money and get something else for lunch.”

Passenger Tommy Whitelaw travels across Scotland giving talks to charities and care homes.

He said the end of peak fares removed the limits on when many people could travel.

He added: “It makes a difference to everybody, its our duty to make everything achievable for people.

“The cost of living shrinks our world, this is one way to open it up a wee bit.”

Susan Watts, from Leeds, told BBC Your Voice that peak fares should be scrapped UK-wide.

She said: “Our complicated fare system is enough to put anyone off using trains.

“In Italy, I paid the same price for a ticket when I turned up an hour before as if I’d booked months earlier – the price is just the price.”

Green MSP Mark Ruskell said peak rail fares were a “deeply unfair tax” on people who had no say over when they needed to travel.

“I am delighted that we are finally rid of them,” he said.

“I’m glad that the Scottish government has finally listened to the Greens, the trade unions and the rail users who were responsible for securing the initial pilot.”

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Commercial LPG cylinders cheaper by Rs 51.50; ATF cut by 1.4%, domestic gas prices unchanged – The Times of India

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Commercial LPG cylinders cheaper by Rs 51.50; ATF cut by 1.4%, domestic gas prices unchanged – The Times of India


Prices of aviation turbine fuel (ATF) and commercial LPG were reduced on Monday, bringing partial relief to airlines and businesses, though domestic cooking gas rates remain steady.Aviation turbine fuel (ATF) prices were cut by 1.4 per cent on Monday, while commercial LPG cylinders became cheaper by Rs 51.50, reflecting a decline in global benchmark rates, PTI reported.According to state-owned fuel retailers, jet fuel in the national capital was cut by Rs 1,308.41 per kilolitre, or 1.4 per cent, to Rs 90,713.52 per kl. This comes after two consecutive monthly hikes since July, which together raised ATF prices by Rs 8,949.38 per kl in line with spurt in international oil rates triggered by geopolitical tensions and trade wars.Fuel accounts for nearly 40 per cent of operating costs for airlines, and the cut is expected to ease some of the pressure, though carriers did not immediately comment on the move. In Mumbai, ATF was priced at Rs 84,832.83 per kl, down from Rs 86,077.14, while in Chennai and Kolkata prices were revised upward to Rs 94,151.96 and Rs 93,886.18 per kl, respectively. Rates vary across cities depending on local taxes like VAT.Alongside, the price of commercial LPG used in hotels and restaurants was reduced by Rs 51.50 per 19-kg cylinder, with the new rate in Delhi at Rs 1,580. This marks the sixth straight monthly cut since April, with cumulative reductions totalling Rs 223 per cylinder. Rates were last cut by Rs 33.50 on August 1.While oil prices remain volatile globally, benchmark LPG rates have softened because of subdued demand during summer months. Domestic LPG prices, however, remain unchanged at Rs 853 per 14.2-kg cylinder, after a Rs 50 hike in April.Public sector oil firms — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) — adjust ATF and cooking gas rates on the first day of every month based on international benchmarks and currency exchange rates.Petrol and diesel prices have been frozen since mid-March last year, when they were cut by Rs 2 a litre ahead of general elections. Petrol costs Rs 94.72 a litre in Delhi, while diesel is priced at Rs 87.62.





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