Islamabad, Dec 5: Pakistan Customs has implemented a new regulation that prohibits government officials from using tempered and smuggled vehicles in an attempt to stop the abuse of power. This action is a component of continuous initiatives to guarantee responsibility and stop the misuse of seized automobiles for private gain. The goal of the program is to allay growing concerns about Customs officers abusing thousands of vehicles that have been seized for personal gain. All No Objection Certificates (NOCs) previously granted for smuggled automobiles used by government officials have been revoked in accordance with the new rules. The number of…
Author: Iqra Khan
Islamabad, Dec 5: To make the procedure of registering cars and obtaining desired license plates easier, the Punjab government has introduced a cutting-edge e-auction system. Through a specialized mobile app and web platform, this new effort enables users to register automobiles and take part in online auctions for the number plates they want. The e-auction program registration is now open and will stay open until December 31, 2024, giving people plenty of time to choose and bid on the vehicle numbers they want. The program, which was created by the Punjab Excise and Taxation Department in partnership with the Punjab…
Islamabad, Dec 4: Under the direction of Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, the National Tax Council (NTC) met today at the Finance Division. Key federal and provincial stakeholders convened the meeting to address important issues pertaining to harmonization and tax reforms. Realizing the full revenue potential from under-taxed sectors, especially real estate, property, and agricultural income, was emphasized during the discussion, which took place in the framework of the recently signed National Fiscal Pact between the Federation and the Provinces. Federal and provincial finance secretaries, the chairman of the Federal Bureau of Revenue (FBR), the finance…
Islamabad, Dec 4: In a major move toward improving youth education, Chief Minister (CM) of Punjab Maryam Nawaz launched the “Honhaar Scholarship Program” on Wednesday. Scholarship checks were distributed to students as part of the inauguration ceremony at Punjab University, which also marked the establishment of an e-portal for easy program access. With an estimated worth of Rs. 130 billion, the Honhaar Scholarship Program seeks to assist 30,000 students a year. The importance of the program was emphasized by Provincial Education Minister Rana Sikandar Hayat, who said it will assist thousands of young people in realizing their academic goals. Details…
Islamabad, Dec 4: Today in the Finance Division, Senator Muhammad Aurangzeb, the Federal Minister for Finance, met with a delegation from METRO AG Germany. Alfred Graannas, the Federal Republic of Germany’s ambassador to Pakistan, accompanied the trip, which was led by Atila Yenisen, Executive Vice President METRO AG Germany. Aurangzeb informed them of the current macroeconomic reforms and their beneficial effects on the economy’s stability and future growth during the meeting. The minister also emphasized how the overall business and economic activity has improved due to the notable decline in inflation and the falling interest rate. In addition, he said,…
Islamabad, Dec 4: The merging of Silkbank (PSX: SILK) with United Bank Limited (PSX: UBL) has been accepted by the banks’ board of directors. This means that all of Silkbank’s operations will be combined through a share swap arrangement with UBL. Silkbank’s completion of the Amalgamation Agreement, Amalgamation Scheme, and other supporting papers for the proposed amalgamation. In exchange for 325 already-issued shares of the Bank, each with a face value of PKR 10/-, one (1) new ordinary share of UBL with a face value of PKR 10/-, 27,944,188 ordinary shares of UBL other than rights issues were issued. The…
Islamabad, Dec 3: Pakistan Refinery Limited (PSX: PRL) made it clear on Wednesday that it has not committed to importing crude oil from Russia and has not entered into any agreements. PRL responded to recent news reports indicating that it has agreed to import Russian crude oil at discounted prices in a notice to the Pakistan Stock Exchange (PSX). It further stated, “We are still dedicated to openness and will notify our stakeholders of any updates directly through our official channels.” Musadik Malik, the minister of petroleum, also made it clear on Wednesday that no contract has been signed for…
Islamabad, Dec 3: Microsoft has increased its attempts to get customers to migrate to Windows 11 as the end-of-life date for Windows 10 draws near in October 2025. Nonetheless, a lot of people still install Windows 11 on machines that don’t fit the system specifications. Microsoft has now explicitly warned consumers who are running Windows 11 on unsupported hardware of this. Windows 11 will alert users to compatibility problems by displaying a watermark if a computer does not satisfy the minimal requirements. The hazards are explained in a new notice on Microsoft’s support page: The minimum system requirements for Windows…
Islamabad, Dec 3: The Punjab Treasury Department’s announcement that annual pension increases for public servants will no longer be granted is expected to greatly impact retirees. This move, which Secretary of Finance Mujahid Sher Dil formally announced, affects three pension groups that were previously eligible for annual increases. Pension increases approved by memoranda in 2011, 2015, and 2022 will no longer be applicable to retirees as of right now. In particular, the 2015 circular’s paragraph 1 pension increase, the 2011 circular’s paragraph 2 pension increase, and the 2022 Finance Department letter’s paragraph 1 pension increase have all been withdrawn. In…
Islamabad, Dec 3: According to a recent research by the Academy of Research, Pakistan is currently experiencing a serious housing crisis, with families and individuals facing a scarcity of nearly 2.1 million dwellings to live in. According to the study, almost 38.3 million individuals in the nation lack access to suitable housing. Among these, 2.52 million people are looking for housing in cities. The survey also shows that 10 million families live in subpar housing, and almost 13 million individuals live in overcrowded situations. The study found that the most severe and complex housing shortages are seen in cities like…
