As Pakistan aims to boost its tax revenues in the 2024-25 budget, the Federal Board of Revenue (FBR) chief has announced that electricity and gas connections of non-filers will be suspended, along with their SIM cards. In a recent development, the Senate’s Standing Committee on Finance and Revenue approved the proposal to impose a foreign travel ban on non-filers. The decisions were made during a session chaired by Saleem Mandviwalla. FBR Chairman Zubair Tiwana informed the Senate committee that non-filers would face actions under the Income Tax General Order (ITGO). However, exemptions would be provided for nationals undertaking Hajj, Umrah,…
Author: Saifullah
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Celebrated Pakistani actress Saba Qamar once again charmed her fans on Saturday with her captivating presence in a sleek black outfit. Saba Qamar took to Instagram to post a series of new photos that left her followers in awe. She wore a chic black shirt and trousers, paired with her loose hair and delicate expressions, which garnered widespread admiration. Saba Qamar captioned the photos, “In black attire, but my heart is filled with light.” Social media users have been flooding the comment section with compliments, appreciating the actress’s elegance and beauty.
The Sanghar police on Saturday registered a case against unknown individuals at the Mangli police station, sidestepping charges against an influential landlord accused of severing a camel’s leg. The incident occurred in the Mandh Jamrao area of Sanghar when an enraged landlord allegedly cut off a camel’s leg after the animal strayed onto his agricultural land. The landlord, along with his employees, captured the camel and inflicted the injury with a sharp tool. The camel’s owner, Somar Bhan, protested at the Sanghar Press Club, carrying the severed leg and decrying the landlord’s cruelty. Bhan stated that the landlord mutilated the…
Robbers in Faisalabad made off with Rs10 million in broad daylight on Saturday, targeting traders outside the cattle market. According to the police, a scuffle broke out between the traders and the robbers during the robbery, resulting in injuries to three traders. Despite the confrontation, the robbers successfully escaped with the money. No casualties were reported during the incident. The police have registered a case and initiated an investigation, assuring that efforts are underway to apprehend the culprits soon.
The price of 24-karat gold in Pakistan decreased by Rs200 per tola, settling at Rs241,300 on Saturday, compared to Rs241,500 the previous day. Similarly, the price for 10 grammes of 24-karat gold dropped by Rs171, from Rs207,047 to Rs206,876, according to the All Sindh Sarafa Jewellers Association. In the 22-karat category, the price for 10 grammes also experienced a decline, falling from Rs189,793 to Rs189,636. Conversely, the prices of silver remained stable. The cost of one tola of silver held steady at Rs2,750, while the price for 10 grammes of silver remained unchanged at Rs2,357.68. Despite the domestic decline, the…
Prime Minister Shehbaz Sharif emphasized the significant financial benefits of the E-Office system, projecting that its implementation could save the national exchequer billions of rupees. During a crucial review meeting in Islamabad, the PM discussed the transition of federal government ministries and institutions to the E-Office platform. He noted that reducing paper usage would not only lead to substantial cost savings but also positively impact the environment. “The primary objective of adopting the E-Office system is to enhance public service delivery and promote transparency within the government,” PM Shehbaz stated. He stressed the need to accelerate the transition process and…
As global oil prices continue to fall, there is growing optimism that petrol prices in Pakistan may decrease. The government is expected to announce the new prices at midnight on June 15, 2024, which will remain effective until the end of the month. Today, global oil prices declined, reversing some of their weekly gains due to a broader financial market risk-off sentiment and indications of strong global supply. Brent crude traded near $82.41 per barrel, marking a 0.41 percent decrease for the day but a 3.65 percent increase for the week. Similarly, West Texas Intermediate (WTI) crude was priced at…
The Karakoram International University (KIU) Syndicate has decided to shut down its sub-campuses in Chilas, Ghizer, and Hunza due to severe financial constraints, jeopardizing the future of 1,500 students and over 100 staff members. The decision was made during an emergency meeting chaired by KIU Vice-Chancellor Dr. Attaullah Shah. The university is grappling with a Rs300 million shortfall, which has now increased by an additional Rs200 million due to the federal government’s salary hike decision. The combined deficits of KIU and the University of Baltistan (UoBS) now stand at Rs500 million and Rs150 million, respectively. Dr. Shah expressed deep concern…
The Pakistan Stock Exchange (PSX) continued its upward trajectory on Friday, with the KSE-100 index climbing by 498.61 points or 0.65 percent to reach a historic high of 76,706.7. This follows Thursday’s remarkable gain of 3,411 points or 4.7 percent, marking the largest increase since the International Monetary Fund’s (IMF) bailout package last year. Positive investor sentiment was bolstered by the government’s decision to keep the capital gains tax rate unchanged. Starting the week at 73,754 points, the PSX closed at 76,706 points, marking an increase of 2,952 points over five trading sessions. During Friday’s trading session, the index fluctuated…
Sindh Chief Minister Syed Murad Ali Shah, who also serves as the Finance Minister, presented the budget for the fiscal year 2024-25 in the Sindh Assembly on Friday. Addressing the budget session, CM Murad Ali Shah announced a total budget outlay of Rs3.056 trillion for the province. Key Highlights of the Budget: Salary Increases: 30% raise for Sindh government employees in grades 1 to 16 22% raise for employees in grades 17 to 22 15% increase in pensions Minimum wage raised from Rs35,550 to Rs37,000 Sector Allocations: Rs519 billion allocated for education Rs334 billion allocated for the health sector Rs56…
