ISLAMABAD, AUGUST 6: It was disclosed on Monday that Pakistan Post has halted package reservations to the US for a month, causing substantial losses totaling hundreds of thousands of dollars. Aside from e-commerce orders, the Pakistan Post’s booking suspension also affected online orders. This development has affected the country’s earnings in addition to halting the sale of Pakistani goods in the US. The Pakistan Post’s sources said that the booking halt was caused by American shipping companies not receiving their due reimbursement. The utility blamed insufficient parcel wrapping for the stoppage. The Directorate General of Pakistan Post’s inquiry report identified…
Author: Mawadat Fatima
ISLAMABAD, AUGUST 6: The registrar office has already transferred urban properties through sale deeds, and the Capital Development Authority (CDA) plans to halt transferring them further. According to specifics, the decision makes the registrar office a more practical option for property transactions in Islamabad by addressing the difficulties of transferring property through the CDA, which necessitates many No Objection Certificates (NOCs). Previously, properties having conveyance or lease deeds could only be subsequently transferred by a sale deed at the Joint Sub Registrar’s office, avoiding the CDA’s one-window facility, according to the CDA property manual. The CDA revised its handbook in…
ISLAMABAD, AUGUST 6: up order to fill up the gaps between fees and the administrative costs of managing licenses and spectrum, the Pakistan Telecommunication Authority (PTA) has decided to amend the radio frequency spectrum and license fee for radio-based services (RBS). According to PTA, no changes have been made to the radio frequency spectrum or license price for RBS since they were first put into place in 2000. The fee revision was made to account for the disparities that existed between RBS rates and the administrative expenses incurred in managing licenses, in addition to a spectrum that has been steadily…
ISLAMABAD, AUGUST 6: The zero-rating of petroleum items into sales tax exemption in the budget (2024–25) will result in an annual savings of roughly Rs. 20 billion for the government. The Finance Act 2024 has modified the status of Motor Spirit (Petrol), High-Speed Diesel, Kerosene, and Light Diesel Oil (LDO) from taxable to exempt supplies in relation to sales tax. The status change will result in an increase in revenue of between Rs. 18 and 20 billion. Due to a shift in the status of petroleum goods from zero-rating sales tax to sales tax exemption, the industry is no longer…
ISLAMABAD, AUGUST 6: We mourn the violence and tragic loss of life that has taken place in recent weeks in Bangladesh,” the World Bank stated. Washington: After Bangladesh’s Prime Minister Sheikh Hasina quit and left, the World Bank announced on Monday that it was evaluating how the current situation might affect its loan agreement with that nation. Following a crackdown on rallies that started as protests against preferential job quotas and turned into a movement calling for Hasina’s removal, hundreds of people died. This led to Hasina’s resignation. “We pray for a speedy and peaceful conclusion and lament the violence…
ISLAMABAD, AUGUST 6: Judge Mehta stated, “Google is a monopolist and has behaved as one to preserve its monopoly.” According to the BBC, a US judge found that Google used monopolistic tactics to crush rivals and preserve its hegemony over online search and search advertising. This decision is a major setback for Alphabet, the parent company of Google, and it may fundamentally alter the business models of top internet companies. In 2020, the US Department of Justice filed a lawsuit against Google, alleging that the firm held approximately 90% of the market share for online searches. This prosecution is part…
ISLAMABAD, AUGUST 6: The Tajir Dost Scheme, the Federal Board of Revenue (FBR) has made available to trader’s flexible advance tax rates (Trader-Friendly Scheme). In accordance with the revised rates, 78% of localities will be subject to a monthly tax of Rs $5,000. The following rates of taxation are established under the scheme: Rs 10,000 for 14% of the areas, Rs 20,000 for 5% of the territories, Rs 30,000 for 2% of the areas, Rs 45,000 for 0.6 percent of the regions, and Rs 60,000 for 0.32 percent of the areas. Furthermore, under the system, traders who pay their taxes…
ISLAMABAD, AUGUST 5: According to authorities, criminals are utilizing the well-known Google Maps program to transport narcotics throughout Pakistan by taking advantage of technology. Dealers in the Khyber area have established a covert distribution network by exchanging GPS information and utilizing chat applications. They may send pharmaceuticals across the country using this technique, called the “Location Network,” in place of more conventional face-to-face transactions. These traffickers place narcotics in predetermined sites around various cities and villages, eschewing the conventional hand-to-hand exchanges. They take pictures of these locations, post the pictures, and use WhatsApp to communicate with the district’s major merchants.…
ISLAMABAD, AUGUST 5: Today, the Pakistani rupee (PKR) opened trading at 278 in the interbank market, but it began the week down versus the US dollar. It closed in red vs the US dollar, remaining negative throughout the day. During today’s session, it recorded significant losses compared to the majority of the other major currencies. Today, it lost about Rs. 5 to the Euro. The interbank rate closed at 278/$, where it had spent most of the day. Today’s open market rates were rigidly set at the 278 level across a number of currency exchanges. The PKR lost 13 paisas…
ISLAMABAD, AUGUST 5: An international airline located in the United Arab Emirates was fined Rs. 100,000 by a consumer court in Sialkot for giving a customer subpar service. Passenger Fatima Saba from Sialkot filed a complaint with the district consumer court, claiming that she had purchased a ticket from Faisalabad to Istanbul (Turkiye) on April 17, 2024. When Saba got to the airport, she saw that the airline had canceled the trip without telling her in advance. In addition, she did not get a refund for her ticket and the trip was not rescheduled. The petitioner submitted the necessary paperwork…
