Islamabad, Nov 8: The government will also introduce a new surcharge on fossil fuels to help it pull in more money, but the FBR has not mentioned when it will impose this surcharge. According to FBR report 1 percent above increase required for attaining the 13.7 percent Tax-GDP ratio in 2028-29 would be levied through new surcharges on fossil fuels. expanding more the tax base of provincial taxes and augmenting the non-tax revenue collection of the Federal Government. Fossil Fuels According to the report, the IMF Executive Board also completed the 2024 Article IV consultation with Pakistan and approved a…
Author: Mawadat Fatima
Islamabad, Nov 8: Qualcomm ended a very strong fiscal Q4 and fiscal year 2024 with very good company performances. Q4 revenues have increased by 19% to the same Q4 in the previous year while the net income has risen by 96%. It was a major factor in a 9% Increase in full – year revenue and a 40 percent leap in net profits over fiscal 2023. It also replenished quite a lot of capital to its shareholders in its fourth quarter of the fiscal 2020. The company paid out $ 947 million to its shareholders in the form of dividends,…
Islamabad, Nov 8: In today’s fast-paced world, car troubles can be a major hassle, disrupting your daily routine and costing both time and money. Imagine having an expert mechanic at your fingertips, diagnosing issues, and guiding you through repairs—all without leaving your driveway. Fix your car with ease – download AutoSquad now, and experience a smarter, more convenient way to manage car maintenance and repairs. AutoSquad is the ultimate solution for car owners who want to save on repairs, avoid unnecessary trips to the shop, and ensure their vehicle is always in top shape. Why AutoSquad is a Game-Changer AutoSquad…
Islamabad, Nov 8: Pakistan’s sugar mills are ready to start the new crushing season from 21st of November as confirmed Sugar Advisory Board (SAB) as well as Federal Minister of industries Rana Tanveer Hussain. The above decision requires all sugar mills to commence milling from the set date in order to do so effectively and contribute to the national sugar value chain. Particular focus has been made to ensure timely payments for the sugar cane farmers. Mills that will not adhere to these measures are likely to have their licenses to export sugar withdrawn as a clear indication of government’s…
Islamabad, Nov 8: After a powerful performance in the first match, Pakistan and Australia are all set for the second ODI People around the globe are eagerly waiting to witness an amazing match again. Since both teams are desperate to start the scoring in this closely fought series, today’s game expects spectacular display, clutch shots and memorable run of play. Can phenomenally powerful batting and aggressive bowlers again rise to the occasion to overpower Australia, or will the Aussies use their wealth of experience and fighting spirit to tilt the series in their favor? In this Pakistan vs Australia 2nd…
Islamabad, Nov 7: Overseas Pakistani Group Bids Rs 1.25 Trillion for PIA A group of Overseas Pakistani, known as Al-Nahang, has proposed a bid exceeding Rs 1.25 trillion for the privatization of Pakistan International Airlines (PIA). The group has forwarded an email to the Minister of Privatization, Minister of Aviation, Minister of Defense, and other relevant officials detailing their proposal. The key points of their offer are. Debt Settlement: Al-Nahang has offered to pay off PIA’s Rs. 250 billion debts. No Employee Layoffs: The group has promised not to lay off any employees, instead offering a 100% increase in salaries over…
Islamabad, Nov 7: Karachi Board Extends Matric Exam Deadline Again The deadline to submit forms for the matriculation exam has been extended for the second time, and there will be no late fee. The Acting Director of Examinations, Zaheeruddin Bhutto, declared on Wednesday that the revised submission period for examination forms for the annual Class IX exams in 2025, which includes both science and general groups, will take place from November 6 to November 19, 2024. This extension is available for both regular and private candidates, permitting government schools to submit forms during this timeframe without incurring any late fees.…
Islamabad, Nov 7: Xiaomi Speeds Up SU7 Electric Car Production Amid Surge in Orders Xiaomi’s electric vehicle (EV) manufacturing facility is preparing to boost output in the final two months of 2024 to accommodate increasing demand. The SU7, which is Xiaomi’s inaugural EV model and was introduced in March, is now being manufactured at the company’s facility in Beijing. This factory currently has a production capacity of 150,000 units annually, and plans are in place to enhance this capacity. The facility reached 160% capacity in October, producing more than 20,000 units. Xiaomi plans to increase its monthly production to 24,000…
Islamabad, Nov 7: Utility Stores Sugar Price Decrease Big Cut in Per Kg Price Announced The Utility Stores Corporation (USC) has revealed a significant decrease in sugar prices, reducing it by Rs13 per kilogram, which now sets the price at Rs140 per kg across all its locations. This prompt change provides much-needed relief for consumers as the prices of essential goods continue to rise. The decrease in price resulted from fruitful discussions between USC and sugar manufacturers, who accepted to reduce their selling price to USC by Rs17 per kg. The prior cost of sugar at utility stores was Rs153…
Islamabad, Nov 7: Saudi Arabia and UAE Invest $26.8M in Pakistan In the first quarter of current fiscal year, Pakistan’s foreign investment increased by 48%, demonstrating the country’s economic recovery. China made the largest investment of $404 million, followed by Hong Kong, the United Kingdom, and the United States, while Saudi Arabia and the United Arab Emirates invested a total of $26.8 million. The Special Investment Facilitation Council (SIFC), a special civil-military organization established in 2023 to expedite investment in important industries including mining, tourism, and agriculture, is responsible for this rise. The creation of the SIFC aimed to steady…
