Islamabad, Sep 3: Pakistan has advanced in its efforts to secure pledges from outside sources of funding, which will facilitate the launch of the new $7 billion International Monetary Fund (IMF) program. In a televised speech, Finance Minister Muhammad Aurangzeb stated that the federal government anticipates receiving final loan approval from the IMF Executive Board on schedule. In addition, Aurangzeb stated that the government would not “take back” the proposed tax on merchants and would instead raise it to at least 13 percent of GDP. According to him, the tax-to-GDP ratio of 8.8% is unsustainable at this point. In order…
Author: Mawadat Fatima
Islamabad, Sep 3: Residents in Punjab will likely suffer more financial strain as a result of the impending introduction of a new property tax by the government. The Punjab Excise and Taxation Department has been instructed to create a comprehensive list of all residential properties in the province by the end of next month, according to a private news channel. Homes that are five marlas or larger will be subject to this new tax, whose rates are determined by the property’s assessed value. Properties that are worth more than Rs. 5 million will be subject to this tax rate.The action…
Islamabad, Sep 3: Later this week, Lenovo will present a new range of cost-effective Copilot Plus PCs at the IFA trade expo. The enlarged Copilot Plus family will include two intriguing variants powered by an as-yet-unannounced 8-core Qualcomm Snapdragon X Plus CPU, according to leaked marketing documents released by well-known source Evan Blass. These new laptops are expected to be less expensive than the Copilot Plus PCs that are on the market right now. The IdeaPad 5x 2-in-1, a convertible laptop with a 14-inch OLED display, and the IdeaPad Slim 5x, a stylish clamshell notebook with a 14-inch OLED display…
Islamabad, Sep 3: Microsoft’s Windows 11 operating system has overtaken Windows 10 in usage among Steam users for the first time since its release in 2021, potentially marking a turning point in the new OS’s adoption rate, at least for gaming. Even after Microsoft declared that it would stop supporting Windows 10 in October 2025, the older operating system was still quite popular among users. But the most recent information from Steam’s August hardware survey indicates a change. While Windows 10 usage decreased by a similar amount to 47%, Windows 11 usage increased by more than 3% to reach 49%.…
In August 2024, Pakistan’s trade deficit decreased by more than 20 percent, reaching an 11-month low of $1.675 billion. Data released on Tuesday by the Pakistan Bureau of Statistics (PBS) show that the trade deficit of the nation decreased by 20.5 percent in August 2024 compared to the $2.108 billion reported in August 2023. Additionally, the trade deficit decreased by 12% from the $1.904 billion recorded in July 2024. August 2024 exports totaled $2.743 billion, up 18.9 percent from the previous month and 15.9 percent from the same month the year before. Imports went down by 1.3 percent in August…
Islamabad, Sep 3: Bangladesh won the second Test at Rawalpindi Cricket Stadium to seal a historic 2-0 series victory over Pakistan. It was their first-ever series win against the hosts. On the last day, the Tigers took six wickets as they pursued a goal of 185 runs. Veteran cricketers Shakib Al Hasan and Mushfiqur Rahim led the way, finishing undefeated with scores of 21* and 22*, respectively. Bangladesh won their historic series against Pakistan thanks to their calm collaboration, which also marked their first-ever Test series win. Opening batsman Zakir Hasan got Bangladesh’s run chase off with a blistering forty-odd…
Islamabad, Sep 3: LDA teams sealed eighteen properties on Multan Road as part of an operation against commercial fee defaulters, as directed by LDA DG Tahir Farooq. Director of Town Planning Zone 2, Ahmed Saeed, supervised the operation under the direction of Chief Town Planner 1, Asad Zaman. The action also featured police and the LDA Enforcement Squad. Electronic stores, paint stores, workshops, furniture stores, and other businesses were among the sealed premises; they are all in debt to the tune of millions of rupees for commercial fees. Before the operation, Asad Zaman pointed out that these properties had received…
Islamabad, Sep 3: Pakistan is now subject to additional requirements from the International Monetary Fund (IMF) following Punjab’s decision to provide a two-month electricity subsidy of Rs. 14 per unit. According to Express Tribune, the lender has stipulated that the subsidy must terminate by September 30 and has further forbidden any province government from implementing such subsidies during the 37-month Extended Fund Facility (EFF) program. The Punjabi government’s plan to give away solar panels valued at Rs. 700 billion to customers who use up to 500 units per month is in jeopardy because of these circumstances. Provincial governments are also…
Islamabad, Sep 3: If the revenue shortage persists in September 2024, the Federal Board of Revenue (FBR) may increase the 1 percent rate on 31 different types of withholding taxes starting next month. The FBR has created a mini-budget proposal on WHTs in this regard. The information indicates that there are currently 31 different kinds of withholding taxes that apply to different financial transactions. Should the Federal Bureau of Revenue (FBR) continue to experience insufficient tax revenue during the final month of the first quarter (July–September) of 2024–2025, the FBR has suggested raising withholding tax rates by one percent. The…
Islamabad, Sep 3: The dates for the 2025 International Cricket Council (ICC) World Test Championship final, which will take place at Lord’s in London, have been formally announced. June 11–15 is when the historic one-off Test match is slated to take place; June 16 is set aside as a backup date in case of inclement weather. The World Test Championship final will be staged at the storied Lord’s Ground for the first time ever. The previous two finals were held at Southampton (2021) and The Oval (2023), which Australia and New Zealand won, respectively. The top two teams from the…
