ISLAMABAD, AUGUST 16: Arshad Nadeem, the gold winner from Pakistan at the Olympics, has revealed his audacious goal to compete in javelin throw competitions till the 2032 Summer Olympics. During a news conference at the Governor House in Karachi, the renowned athlete expressed his goals of securing more worldwide recognition for Pakistan. Arshad Nadeem, who created history in the 2024 Summer Olympics in Paris with his gold medal victory, declared his intention to retain his championship in 2028 and, if health permits, to compete in the 2032 Summer Olympics. He said, This is just the beginning of my journey. I…
Author: Mawadat Fatima
ISLAMABAD, AUGUST 16: The purpose of Punjab University’s Alumni Scholarship Endowment Fund (ASEF) is to support worthy students in their pursuit of higher education by offering financial aid. The PU Alumni Office met on Thursday under the direction of Vice Chancellor Prof. Dr. Khalid Mahmood to discuss the proposal. Prominent dignitaries in attendance were Prof. Dr. Mumtaz Anwar Chaudhry, Director of the PU Alumni Office, and Prof. Dr. Hafiz M. Anwaar Asghar, Director of Planning & Development. Prof. Mahmood brought up during the conference how alumni all across the world financially support research and teaching at their alma institution. The…
ISLAMABAD, AUGUST 16: Before making any real estate purchases, the public is urged by the Rawalpindi Development Authority (RDA) to confirm the condition of housing societies. In order to get proper information on the legality of housing societies, Director General Kinza Murtaza recommended prospective investors to visit the official website, www.rda.gop.pk or use the resources available at the RDA office. She emphasized that, as of right now, 359 housing plans in Rawalpindi have been found to be unlawful, while 71 housing schemes have been authorized and 74 are for evaluation. “We are dedicated to raising public awareness, and the status…
ISLAMABAD, AUGUST 16: On Thursday that BYD, a Chinese producer of electric vehicles (EVs), is collaborating with Mega Conglomerate Pvt., a Pakistani business group, to establish an EV facility in Karachi. The facility at Port Qasim will be finished by mid-2026. At its brand debut on Saturday, BYD will introduce three vehicles, including an SUV and a sedan, for the Pakistani market. Following an increasing trend, BYD has entered Pakistan, a market that has historically been controlled by Japanese manufacturers like Toyota and Honda. By the end of this year, the business hopes to start selling cars through dealerships in…
ISLAMABAD, AUGUST 16: In Punjab, Cement prices are expected to increase by Rs. 75 starting today or next Monday. Cement producers in Punjab, according to Topline Securities, have been granted a court-issued stay order in exchange for providing bank guarantees. The government set new raw material royalty rates earlier this month, setting them at 6% of the cement or clinker ex-factory sale price for Punjabi industrial facilities. The royalty charge resulting from the ex-factory price will be recorded in the books as a non-cash item at first. Cement prices in are expected to rise by as much as Rs. 75…
ISLAMABAD, AUGUST 16: The first recorded case of mpox, a more infectious form of monkeypox, outside of Africa has been verified in Sweden. This trend prompts concerns over the possibility of the virus—which has so far mostly been isolated in Africa—spreading throughout the world. Olivia Wigzell, Director-General of the Swedish Public Health Agency, stated that the afflicted person caught the virus while traveling through an area of Africa that was undergoing a major outbreak. Wigzell gave assurances in a news conference that the patient had gotten the proper attention and direction in accordance with the agency’s health guidelines. For the…
ISLAMABAD, AUGUST 16: The Sindh provincial administration has said that new education reforms have allowed schools that had been shuttered for lack of instructors to reopen. 2,889 schools have reopened, according to Sindh Education Minister Syed Sardar Ali Shah, who also promised that no school will stay closed because there are not enough personnel to teach the students. He clarified that in order to bring the teaching and learning process back to life, a “Teachers Placement Committee” was set up to suggest assigning instructors to these shuttered institutions. 2,587 teachers have been hired at the taluka level as part of…
ISLAMABAD, AUGUST 16; President Asif Ali Zardari has supported the Federal Tax Ombudsman’s (FTO) ruling in telecom operators’ cases, which found that the Federal Board of Revenue (FBR) had not engaged in maladministration in carrying out the recommendations of the Alternative Dispute Resolution Committee. The Pakistani President has issued an order pertaining to the cases of telecom providers in this respect. The complainant firm, according to the complaints, is primarily involved in providing cellular telecommunication services and has set up a cellular mobile network in Pakistan with licenses granted by the Pakistan Telecommunication Authority. These are the brief facts of…
ISLAMABAD, AUGUST 16: The federal government issued an Ijarah Sukuk bond at the Pakistan Stock Exchange on Thursday, raising Rs. 119 billion against an auction objective of Rs. 100 billion. This was the major bourse’s 12th auction for the Ministry of Finance. There were notable changes to the rates for the Government Investment Securities (GIS) auction. The 1-year discounted rate dropped by 123 basis points to 15.99 percent. While the 5-year fixed-rate return (FRR) decreased by 61 basis points to 14.38 percent, the 3-year FRR fell by 63 basis points to 15.0017 percent. The variable-rate return (VRR) for the three-year…
ISLAMABAD, AUGUST 16: Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), has requested asset information for every official in the Inland Revenue Service and Pakistan Customs Service ranging in grade from 17 to 22. The FBR Member Administration has been instructed by the tax authorities to provide asset information for every IRS and customs officer. As of right now, the FBR employs around 20,000 people in BS-17 to BS-22, including 1,275 officers in the Pakistan Customs Service and roughly 600 in the Inland Revenue Service. According to sources, each year, the officers of the Customs and Inland…
