Islamabad, Sep 19: Car financing in Pakistan has continued its downward trend for the 26th consecutive month, showing an 18.3 percent year-on-year (YoY) drop to Rs. 227 billion by the end of August 2024, down from Rs. 278 billion in the same period last year, according to data from the State Bank of Pakistan (SBP). This reflects a roughly Rs. 700 million declines compared to July 2024, highlighting the stagnation in the auto sector despite improvements in consumer inflation and adjustments to the central bank’s lending rate. In contrast, personal loans on credit cards surged 24.5 percent YoY to Rs.…
Author: Mawadat Fatima
Islamabad, Sep 19: The government of Pakistan is set to appoint a new Chief Executive Officer (CEO) for the Pakistan Software Export Board (PSEB), filling a leadership gap that has persisted since August 2022. A panel of three top candidates has been submitted for final approval following a detailed selection process. The position was re-advertised on April 7, 2024, and attracted 234 applications. After a thorough evaluation, 16 candidates were initially shortlisted, with six eventually presented to the PSEB Board of Directors for final review during a meeting on June 3, 2024. The Ministry of Information Technology and Telecommunication (MoITT)…
Islamabad, Sep 19: The Federal Board of Revenue (FBR) has received 1.772 million income tax returns for the tax year 2024 as of September 17, 2024. This marks a significant increase of 844,748 returns compared to the 928,049 returns filed during the same period in FY2023. In addition to the rise in filings, the FBR collected Rs. 17.2 million in admitted tax through these returns, a sharp increase from the Rs. 3.875 million collected last year. This surge in tax revenue is attributed to the withdrawal of exemptions and the elimination of minimum tax requirements, leading to a higher comparable…
Islamabad, Sep 19: Cotton arrivals in Pakistan have dropped to a 40-year low as of September 15, 2024, plummeting by 64%, according to the Pakistan Cotton Ginners Association (PCGA). This year, only 1.434 million bales have been reported compared to 3.933 million bales during the same period in 2023. The past two weeks saw just 0.208 million bales arriving—a steep 77% decline from last year’s 0.892 million bales. Punjab’s output has been particularly hard-hit, with only 0.538 million bales reported, compared to 1.544 million bales in 2023. Sindh performed relatively better, recording 0.895 million bales, which was 66% more than…
Islamabad, Sep 19: Tax cases amounting to Rs. 3.76 trillion are currently pending across various judicial platforms, including the Supreme Court, High Courts, and Appellate Tribunals, according to sources from the Federal Board of Revenue (FBR). This backlog has significantly hampered the FBR’s ability to recover these funds, with the volume of unresolved cases steadily increasing over recent years. In Appellate Tribunals alone, pending cases have surged from Rs. 1.46 trillion to Rs. 2.235 trillion. As of June 2024, Rs. 105 billion remains tied up in 3,450 cases pending before the Supreme Court. Other courts are also dealing with a…
Islamabad, Sep 19: The Sindh government has unveiled plans for an online auction of special vehicle number plates, with the goal of raising funds to build homes for flood victims. Excise Minister Sharjeel Memon announced that the auction would feature three premium categories—platinum, gold, and silver—during a meeting held on Wednesday. A dedicated online portal will allow individuals to bid for these exclusive number plates. The Sindh Excise Department expects significant interest in the auction, which will take place within a limited time window. In addition, the department plans to launch a reselling portal for those interested in trading their…
Islamabad, Sep 19: Long before smartphones ruled communication, pager device were vital tools for staying connected, especially for professionals in high-stakes environments. While they may seem outdated now, real-life stories: when pager device saved the day remind us of their critical role in life-saving situations. One such instance occurred in the 1980s during a severe snowstorm that knocked out power and phone lines in a rural town. While traditional communication methods failed, rescue teams used pagers to coordinate efforts and save stranded families. This is just one example of how pagers proved essential in emergencies. In another case, a pager…
Islamabad, Sep 19: French Man Admits in Court to Drugging his wife, inviting men to ‘mass rape’ her Dominique Pélicot, now 71, faces 20 years in prison if convicted. While he previously confessed to investigators, the court testimony will be crucial for the panel of judges to decide on the fate of some 50 other men standing trial next to him, all accused of raping Gisèle Pélicot. The man, whose identity remains confidential for legal reasons, admitted to the court that he had incapacitated his wife to facilitate the abuse. His confession has shocked many and sparked significant public and legal…
Hezbollah and Israel: A Timeline of Conflict provides a comprehensive overview of the evolving and intense relationship between Hezbollah and Israel, emphasizing key moments in their ongoing conflict. Origins and Early Conflict (1980s-1990s): 1982: Hezbollah emerges in Lebanon following the Israeli invasion aimed at expelling the Palestine Liberation Organization (PLO) from Lebanon. 1985: Hezbollah announces its manifesto, calling for the removal of Israeli forces from Lebanon and the establishment of an Islamic state. Intensification and Major Confrontations (2000s): 2000: Israel withdraws from southern Lebanon after a prolonged occupation, which Hezbollah views as a victory. 2006: The 34-day Lebanon War erupts…
Islamabad, Sep 19: Infinix Zero 40 5G smartphone with 144 Hz refresh rate, 50 MP front lens. Key Specifications: Display: 6.78-inch FHD+ AMOLED, 144 Hz refresh rate, Corning Gorilla Glass 5. Battery: 5,000 mAh with a 45 W charger in the box, 20 W wireless charging support. Processor: MediaTek Dimensity 8200 Ultimate, 12 GB LPDDR5x RAM, up to 512 GB UFS 3.1 storage. Software: Promises 2 Android upgrades and 3 years of security patches. Cameras: Rear: 108 MP main with OIS and EIS, 50 MP ultrawide. Front: 50 MP. Video: 4K 60 FPS front and rear, Vlog Mode available. Pricing:…
