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…
Author: Mawadat Fatima
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…
ISLAMABAD, AUGUST 15: A major turning point in the digital transformation of the area has been reached as Telenor Pakistan proudly announces the introduction of its cutting-edge 4G internet services in Hunza as well as the upgrading and extension of its network in Gilgit and Skardu. This action is expected to improve connectivity, boost regional travel, and propel the expansion of e-commerce in Skardu, Hunza, and the larger Gilgit-Baltistan area. Telenor Pakistan is extending high-speed mobile internet to the center of one of the most scenic and isolated regions of Pakistan by modernizing its cellular infrastructure. This development not only…
ISLAMABAD, AUGUST 15: KARACHI: the Pakistani rupee finished at Rs278.70 on Thursday, unchanged versus the US dollar during interbank trade. The purchasing and selling values of the dollar on the open market were Rs 279.30 and Rs 280.40, respectively, according to the Forex Association of Pakistan (FAP). The State Bank of Pakistan (SBP) reports that the price of Euro rose by Rs 2.35 to conclude at Rs 306.87 compared to the previous day’s closing of Rs 304.52. The British Pound saw a gain of Rs 1.25, finishing at Rs 358.08, compared to the previous day’s closing of Rs 356.83. The…
