ISLAMABAD, AUGUST 20: According to government papers reviewed by Bloom Pakistan, since the trade ban in August 2019, Pakistan has solely imported life-saving medications from India. In 2023–24, Pakistan imported $278 million worth of goods from India, but for the fourth year in a row, its exports were worth zero dollars. Pakistan’s imports totaled $352 million in FY22 but dropped sharply to $27.6 million in FY23. From FY13 to FY19, Pakistan’s average yearly export to India was $300 million, while its average annual import was $1.5 billion. Both countries froze their bilateral commerce in August 2019. Since August 2019, official…
Author: Mawadat Fatima
ISLAMABAD, AUGUST 20: The Commissioner of the IR Corporate Tax Office in Islamabad, Faisal Mushtaq Dar, has been served with a contempt of court show cause notice by the Islamabad High Court (IHC) for making misleading representations in court regarding the enforcement of directives made by the Federal Tax Ombudsman. Bloom Pakistan was informed by sources that the IHC has issued a stern order against FBR Commissioner, CTO, Islamabad, for failing to appear in person on August 29, 2024, due to a contempt of court case. Let a show-cause notice be issued to respondent Muhammad Faisal Mushtaq Dar, CIR, Islamabad,…
ISLAMABAD, AUGUST 19: The nation’s national organization for independent contractors, the Pakistan Freelancers Association (PAFLA), has urged the appropriate authorities to solve the current internet problems and move quickly to get services back up and running. It is essential for independent contractors to have a steady and secure internet connection in order to do their work without interruption and keep adding to the nation’s foreign exchange reserves. Tufail Ahmed Khan, President and CEO of PAFLA, brought attention to the fact that throughout the previous three weeks, freelancers have been dealing with sluggish internet speeds and frequent disruptions. They have lost…
ISLAMABAD, AUGUST 19: The Punjab government has launched a large-scale electricity relief package for residential consumers, which is a big development. Through the Lahore Electric Supply Company (LESCO), 37 million energy users will benefit from the relief measures, which are valued at Rs. 15 billion, over the course of the next two months. 1.925 million households would see an increase in their electricity prices of Rs. 8 billion starting in August. In September, an extra Rs. 7.2 billion will be given to 1.75 million customers. With an impact on 57.75 million and 52 million units of power, respectively, LESCO intends…
ISLAMABAD, AUGUST 19: On August 19, skywatchers in Pakistan are in for a treat as a super blue moon illuminates the sky. This uncommon celestial phenomenon will be witnessed for the first time this year. This magnificent occurrence comes after the world’s most watched celestial events of the previous year, which included the super blue moon on August 30 and the sturgeon moon on August 1. According to the Space and Upper Atmosphere Research Commission (Suparco), Pakistan will witness its first supermoon of the year at 11:26 PM tonight. The supermoons that are coming up are scheduled for September 18,…
ISLAMABAD, AUGUST 19: The nation’s export remittances for information technology and IT-enabled services (ITeS), which include call center and computer services, showed a roughly 4% decrease in the first month of the current fiscal year, July, coming in at $286 million as opposed to $298 million in June 2024. Official data indicates that remittances from IT exports rose by around 34% year over year in July 2024 from $214 million in the same month the previous year. Remittances for IT exports surged by 24 percent to $3.223 billion in the fiscal year 2023–24 from $2.596 billion in 2022–23, the all-time…
ISLAMABAD, AUGUST 19: In the Gulrez neighborhood, an unlawfully built plaza was sealed by the Rawalpindi Development Authority (RDA). An occupation mafia constructed the plaza without getting the required approval or NOC. The Airport police station crew assisted in the operation against the unauthorized commercial construction. The commercial unlawful building and its additional building plan were sealed and seized in accordance with the DG RDA’s directions, and a formal complaint was filed against the parties involved. The plaza was built without a site plan approval, hence the RDA had originally sent letters to the owners of the properties. According to…
Apple’s iPhone releases are usually widely anticipated occasions that grab the interest of customers, industry watchers, and techies alike. This also applies to the iPhone 16 and iPhone 16 Pro, with rumors and conjecture generating excited ahead of its formal release. The release date for these upcoming smartphones has reportedly been suggested, and it appears Apple will continue to adhere to its custom of releasing its flagship goods in the autumn. Surprisingly if you ask certain AI services when the next Apple launch is anticipated to happen, they will tell you that date as well. However, generally speaking, only a…
ISLAMABAD, AUGUST 19: The Senate Functional Committee on Problems of less Developed Areas discussed the implementation of recommendations made in its previous meeting regarding details of actions taken against corrupt QESCO officials contributing to power theft in Baluchistan over the past five years. Senator Agha Shahzaib Durrani highlighted those details provided by QESCO indicated that officers had terminated the services of Individuals on absurd grounds of personal bias. Surprisingly, in one case, an SDO had terminated the service of an individual for not showing interest in drive against power theft but in another case only minor penalty was imposed on…
ISLAMABAD, AUGUST 19: In July 2024, the number of cars imported more than doubled to $23.29 million in orders. In local currency, these imported vehicles were worth about Rs6.45 billion. Alongside this increase in car imports, there was also an increase in car assembly operations; in July 2024, $34.2 million worth of parts were imported. These parts were valued more than Rs9.5 billion in local currency, demonstrating a strong market for both fully assembled (FBU) and completely disassembled (CKD) auto kits. This pattern is noteworthy because, despite economic difficulties and pressure from inflation, Pakistan continues to observe rising car demand.…