Islamabad, Oct 9: The agreements were signed between Pakistan and Saudi Arabia worth $2 billion said PM Shehbaz on Tuesday. The federal government plans to ink around 30 investment deals with the Saudi delegation, which is starting its Pakistan visit today, as said by Commerce Ministry source. These pacts will cover sectors that include farming, information technology, construction materials, petroleum products, and energy. The delegation will also discuss the food security crisis, export of meat and export of Pakistani rice. Informed sources said that the existing deals related to mining, oil refineries, as well as railways, will be reviewed with…
Author: Mawadat Fatima
Islamabad, Oct 9: Shehroze Kashif Becomes Youngest Pakistani to Conquer All Eight-Thousander Peaks 22-year-old Shehroze Kashif has achieved the distinction of being the youngest Pakistani to scale all 14 peaks exceeding 8,000 meters. This remarkable accomplishment was completed early this morning when Kashif reached the summit of Shishapangma, standing at 8,027 meters. Kashif’s successful ascent of Shishapangma solidifies his reputation as a legendary mountaineer and makes him the second Pakistani to conquer this formidable challenge, following in the footsteps of Sarbaz Khan. Khan recently became the first Pakistani to ascend all 14 eight-thousanders after his own successful climb of Shishapangma.…
Islamabad, Oct 9: FBR increase taxes on late filers The Lahore High Court (LHC) has ruled that the increased withholding tax rates for late income tax return filers will not apply to transactions, returns, or assessments finalized before the enactment of the Finance Act 2024. In this context, the LHC passed a judgment on Tuesday in response to a petition submitted by the Defence Housing Authority. The court’s ruling mentioned that the petition requests the court to declare that the amendments made to section 100BA, along with Rule 1-A of the Tenth Schedule, introduced through the Finance Act 2024 in…
Islamabad, Oct 9: Fashion Trends Must followed this winter season. As winter draws near, it’s time to refresh your clothing collection with the newest style trends. This winter is centered around combining coziness with elegance. Here are some essential trends to help you make an impression. Ample Outer Garments Ample outer garments are a significant Fashion Trends this winter. Whether you opt for a large puffer coat or a lengthy wool overcoat, layering is crucial. This look not only keeps you warm but also infuses a casual feel into your ensemble. Match your roomy coat with slim-fit jeans or tailored…
Islamabad, Oct 9: CDA Chairman Addresses Electricity Issues in Park Enclave Capital Development Authority (CDA) Chairman Muhammad Ali Randhawa on Tuesday instructed the relevant department to address the electricity supply issue in Park Enclave II and III. During a meeting, the CDA chairman urged for swift decisions regarding the cancellation of allotments for those in default in Park Enclave. He also directed the Estate Wing to resolve matters concerning Built-Up Properties (BUP) in Park Enclave, as well as E-12/1 and E-12/4. Throughout the meeting, the Finance Wing presented a thorough briefing on the CDA Chairman Addresses Electricity Issues, emphasizing revenue…
Islamabad, Oct 9: World Bank Housing Reconstruction Disbursement Delays in Balochistan According to the World Bank Country Director, Najy Benhassine, the $2 billion commitment was announced at the Donors Conference held in Geneva in 2023 as World Bank assistance to aid the government of Pakistan in its response to the 2022 floods. To date, over $2 billion has been allocated for implementation through a three-pronged strategy: Immediate Response, Reconstruction and Rehabilitation, and Resilience. He elaborated that $454 million has been made accessible via existing projects, $277 million designated for immediate response, $177 million for reconstruction and rehabilitation, and resilience, while…
Islamabad, Oct 9: Electric Buses in Islamabad City Plans Complete Shift to Green Transport by 2025 On Tuesday, Chairman Muhammad Ali Randhawa of the Capital Development Authority (CDA) deliberated on extensive strategies to transition commercial vehicles to electric energy. During a session, Randhawa highlighted the significance of this shift, asserting that the project signifies a crucial move toward establishing a more sustainable and efficient public transport system in Islamabad. The switch from conventional buses to electric buses is anticipated to revamp the city’s transportation framework while significantly decreasing its carbon emissions. The chairman urged for an examination of the possibility…
Islamabad, Oct 9: Transport Fares Remain High Despite Significant Petroleum Price Cuts Federal Minister for Planning Ahsan Iqbal led a session of the National Price Monitoring Committee, which noted that the reduction in fuel prices has not been adequately reflected in lower transport fares, raising concerns. Officials from the Pakistan Bureau of Statistics (PBS) delivered a comprehensive report on the current inflation scenario. PBS pointed out a notable inconsistency between the prices of several food items and those in the open market. The PBS also underscored significant differences between wholesale and retail prices for certain key goods at both the…
Islamabad, Oct 9: The Sugar Advisory Board (SAB) has granted approval for sugar mills to export 500,000 tons of sugar, with the stipulation that mills must commence the sugarcane crushing season prior to November 21, 2024. This decision was made during a meeting held on Tuesday, chaired by Federal Minister for Industries and Production, Rana Tanveer Hussain. During the meeting, it was revealed that as of September 30, 2024, 0.826 million metric tons of sugar stock remained available. Additionally, farmers have planted 1,192 thousand hectares of land for the 2024-25 season, reflecting a 1.05 percent increase compared to the 2023-24…
Islamabad, Oct 8: SBP Raises Retail Portfolio Limit to Rs. 300 Million The State Bank of Pakistan (SBP) announced on Monday that the regulatory retail portfolio limit will be increased from Rs. 180 million to Rs. 300 million, effective immediately, as stated in a circular. The circular also mentioned that all other instructions regarding this matter will remain unchanged. This adjustment references previous guidelines on Minimum Capital Requirements from 2020 and aims to provide regulatory relief to mitigate the impacts of COVID-19. The State Bank of Pakistan’s (SBP) decision to increase the regulatory retail portfolio limit to Rs. 300 million…
