Pakistan News

Islamic New Year – July 29, 2022

Islamic New Year – July 29, 2022

July 29, 2022 / By Zunair Tahir / Pakistan News


The first day of Muharram, the first month in the Islamic calendar, is the Islamic New Year, often referred to as the Arabic New Year or the Hijri New Year. The first year of this calendar started in the year 622 of the Gregorian calendar, when the Prophet Muhammad and his followers moved from Mecca to Medina.

Days in the Islamic calendar start at dusk. Because the Islamic year is 11 to 12 days shorter than the calendar year, the event always happens on a different day. Muharram, also known as the month of memory, is revered by Muslims all around the world and is marked with rituals and prayers.

The name “Hijri” comes from the word “Hijra,” which means migration. The journey of the Prophet Muhammad from Mecca to Medina in 622 AD marks the beginning of the Islamic calendar.

WHEN IS ISLAMIC NEW YEAR 2022?

The first day of Muharram, the first month in the Islamic calendar, marks the start of the Islamic New Year, also known as the Arabic New Year or the Hijri New Year. The lunar-based, 354-day Islamic calendar is short. This year, the Gregorian calendar’s July 29 falls on the Islamic New Year.

HISTORY OF ISLAMIC NEW YEAR

Muslims in the seventh century CE experienced religious discrimination due to their beliefs at Mecca and other places. In order to establish a Constitution that outlined Muslims’ rights and obligations, Muhammad and his companions fled to the city that would eventually be known as Medina. This movement is known as the Hijra. Islamic New Year remembers this historic occasion since it is a significant event in the Muslim religion.

For Muslims worldwide, it’s vital to mark more than simply the first day of Muharram, the first month of the Islamic lunar year. The whole month has a sacred meaning. For instance, the 10th day, Ashura, which commemorates Noah leaving the Ark and Moses crossing the Red Sea, occurs in Muharram, the second most solemn occasion after Ramadan.

It is also the anniversary of the passing of Hussein, the grandson of Muhammad, among Shia Muslims. They observe memorial services to remember the event. Shias participate in memorial parades known as “matam,” when males congregate in the street to do traditional chest-beating. This is especially true for people in Afghanistan, Bahrain, India, Lebanon, and Pakistan. Muharram is a time of serious prayer and introspection for Sunnis as they bring in the new year.

Islamic New Year slips back year after year, creating a type of “cycle,” because the lunar calendar is 11 or 12 days shorter than the Western solar calendar. This is done so that followers of the faith might encounter the same variety of climatic conditions and weather occurrences as all the historical characters in their sacred texts.

Asking Muslim acquaintances about Muharram might be an intriguing way to learn more about this significant religious and cultural occasion. To celebrate the Islamic New Year, Muslims individuals might also share their experiences, thoughts, and emotions with others.

ISLAMIC NEW YEAR BY THE NUMBERS

4 – the number of days Eid al-Adha is celebrated by Muslims.
3 million –  the estimated number of Muslims who travel to Saudi Arabia for the annual pilgrimage of Hajj.
2– the number of Eid festivities in a year observed by Muslims.
6- the number of denominations of Islam most Muslims fall under.
5- the number of fundamental ‘Pillars of Islam’ that secure a Muslim believer’s faith.
1.8 billion – the estimated number of Muslims in the world, as of 2015.
2nd –the ranking of Islam as the fastest-growing religion in the world
3.45 million –the estimated number of Muslims of all ages living in the U.S
114 – the number of chapters in the Holy Quran.
570 A.D. –the year of birth of the Prophet Muhammad.

Jazz Logo
Pakistan News

Jazz Urges Workers To Prepare For Consequences

Jazz Urges Workers To Prepare For Consequences

July 27, 2022 / By Zunair Tahir / Pakistan News



In an internal message distributed earlier this week to the staff of the firm, Jazz CEO Aamir Ibrahim expressed his concern on the economic future of the nation and its negative impact on Jazz’s operations on Tuesday.

As we begin to make certain difficult but essential decisions, I am raising the degree of this problem to critical, according to the official message from the Telco Chief that Profit was able to receive.

CEO Warns Of Tough Times Ahead

This report continues the series of incidents that highlight the dire state of telecom firms in recent years. Rising operational expenses as a result of high inflation and rising energy prices are an issue for the business. (Read Profit’s article, Telcos Energy Concerns: Needless Whining or a Genuine Problem, for more information.)

Additionally, due to the high cost of capital and a declining rupee, the international players in the industry have reduced their expectations of profits from Pakistani operations. The benchmark rate used to determine how much value the cash flows generated in the future would have in comparison to the current day is the cost of capital. (E.g. A 250ml juice box was Rs15 a few years ago; today, the identical item costs Rs25. As a result, the Rs 15 is now worth less than it was a few years ago.)

High interest rates, risk premium—a presumed return for making investments in high-risk jurisdictions—and securities are the main causes of the cost of capital. Reputable economist Professor Aswath Damodaran has assessed Pakistan’s equity risk premium to be above 15%, greater than nations like India, Bangladesh, Egypt, and other African nations.

These changes have reduced the value of Telenor ASA’s local businesses, which are owned by Telenor Pakistan. The recoverable amount of its assets in Pakistan is now projected to be about $600 million, down from $850 million due to this impairment. (Read more about it in Profit’s piece Telenor Impairment: Has the group given up?)

Furthermore, PTCL reported a net loss of Rs 3 billion in its financial statements for the six months ended June 30, 2022, as a result of high operational costs brought on by the rise in energy prices and skyrocketing interest rates, which increased its finance costs.

In the corporate message, Jazz’s CEO also acknowledged the aforementioned difficulties, saying, “We have all individually been touched by the growing cost of products and services. Even jazz is not immune to the current economic downturn. In actuality, the interest rate increase and the dramatic increase in gasoline and energy prices have a significant impact on us.

In Pakistan, cellular mobile operators (CMO) are in constant need of a business strategy that would enable them to escape the vicious cycle of low average revenues, growing operational expenses, and consequently slim profit margins.


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

LPG Domestic Cylinder
Pakistan News

Great News For Inflation-Stricken People Of Pakistan

Great News For Inflation-Stricken People Of Pakistan

July 7, 2022 / By Zunair Tahir / Pakistan News


Distributors have announced a drastic reduction in LPG prices following a reduction in prices by manufacturing companies.

According to Chairman LPG Distributors Association Irfan Khokhar, the price of domestic cylinder has been reduced by Rs 120 and the price of commercial cylinder by Rs 450.

It will be great relief for the people of Pakistan through the tough times going on and people also needed less price because Eid-Ul-Adha is round the corner and people of Pakistan are very found of eating and cooking.

READ MORE: Pakistan Cut The Army’s Budget By RS72 Billion In Order To Finalize IMF Agreement

He said that OGRA had fixed the price at Rs 148725 per metric ton for July 2022 while Pak Arab Refinery has reduced its price by Rs 13723 per metric ton, after which Parco has fixed the new price at Rs 135000 per metric ton.

The state-owned production company OGDCL has set a production price of 140,000 per metric ton. According to Irfan Khokhar, the price of LPG in the market has come down from Rs 220 to Rs 210 per kg, after which the price of domestic cylinder has come down by Rs 120 and the price of commercial cylinder by Rs 450.

READ MORE: Is Johnny Depp Returning To ‘Pirates Of The Caribbean’

According to the chairman of the LPG Distributors Association, the domestic cylinder will now be available nationwide at Rs 2,480 and commercial at Rs 9,530. He said that LPG would be 55% cheaper than petroleum and 65% cheaper than diesel. If the government follows our policy, the price can come down dramatically. LPG is the fuel of the future in Pakistan.

Irfan Khokhar said that Sui Gas will not come even in summer, both Sui Gas companies SNGPL and SSGC are losing billions of rupees annually.


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

Pakistan Army Budget
Pakistan News

Pakistan Cut The Army’s Budget By RS72 Billion In Order To Finalize IMF Agreement

Pakistan Cut The Army’s Budget By RS72 Billion In Order To Finalize IMF Agreement

July 6, 2022 / By Zunair Tahir / Pakistan News



In order to satisfy a key requirement of the International Monetary Fund (IMF) concerning establishing primary budget surplus in the next fiscal year, Pakistan has reduced the armed forces development plan by Rs72 billion or one-fifth of the amount provided on June 10.

One of the key requirements of the IMF for the resumption of the bailout package is having a primary budget surplus of Rs153 billion, or 0.2 percent of the national GDP. Now, Finance Minister Miftah Ismail is hoping to get an agreement on the personnel level by the end of this week.

READ MORE: How Long Will The Series Of Pre-Monsoon Rains Last In Pakistan?

The initial budget, which the government presented to the National Assembly on June 10, included Rs363 billion in funding for the initiative to develop the armed forces. On the other hand, the amended budget, which the Ministry of Finance made public after receiving National Assembly approval, shows that the budget provision has been cut to Rs291 billion.

The armed forces development program has been reduced by Rs72 billion, or around 20%. The funding is extra to the standard defense budget. Due to financial restrictions and IMF-imposed restraints, the armed forces development program has been cut for the second time in as many years.

The previous administration had set aside Rs340 billion for this purpose during the previous fiscal year, however the budget records reveal that only Rs270 billion was actually spent. The Express Tribune has previously reported that the previous administration had agreed to cut funding for the military’s contingency duties.

When contacted, a representative of the Ministry of Finance stated that the military development program needed to be scaled back in order to lower total spending levels and put the country in a position to meet the IMF’s main budget surplus objective.

On the strength of provincial cash surpluses of Rs750 billion, the government has set the primary budget surplus target at Rs153 billion, or 0.2% of GDP. However, the provincial budgets do not account for the savings of Rs. 750 billion, and the IMF requested that the government obtain the support of the provinces through memoranda of understanding (MoUs).


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

Pakistan News

Petroleum Prices Further Jacked Up

Petroleum Prices Further Jacked Up

July 1, 2022 / By Zunair Tahir / Pakistan News



Miftah Ismail, the finance minister, stated on Thursday that the International Monetary Fund (IMF) programme must be revived despite the rise in petroleum development levies of Rs. 10 on gasoline and Rs. 4 on diesel.

The finance minister, who spoke at the news conference alongside Musadik Malik, stated that the new price of gasoline will be Rs 248.75 after midnight following PDL’s Rs 10 per litre rise and Rs 4.85 increase in its price.


Petroleum Price in Pakistan Today

PRODUCTPRICES
PetrolPKR 248.74
High Speed Diesel (HSD)PKR 276.54
Light Diesel Oil (LDO)PKR 230.26
Kerosene OilPKR 211.43

Following a rise of Rs 8.23 in price and Rs 5 in tax, he stated that diesel, which was already priced at Rs 263, would now cost Rs 276.54 per liter.

Similarly, he stated that light diesel, whose price was Rs 207, would be Rs 226.15 per liter after 12am as a result of a hike of Rs 13.68 in price and Rs 5 tax. Kerosene oil, whose price was Rs 211, would now be Rs 230 following an increase of Rs 18 in price and Rs 5 PDL per liter.

Ismail stated that these rates will go into effect at midnight in order to make up for a deficit of Rs 230 billion during the fiscal year that ended on June 30th, 2022.

These costs have to go up because of the nation’s unprecedented high budget deficit of Rs. 5 trillion.

He claimed that although the administration made every effort to alleviate the situation, there was no choice but to raise prices because of the sharp rise in costs.

READ MORE: 2022 CAR PRICE LIST IN PAKISTAN

These levies were required because the government reinstated the IMF’s EFF program, which had been broken by the previous administration and whose time frame and funding had both been raised. The initiative would now last four years and include an increase of $2 billion over its initial budget.

According to Musaddiq Malik, the Oil and Gas Regulatory Authority (OGRA) Ordinance was amended by Imran Khan’s previous administration to allow the regulator to pass on set gas rates to the general public in 40 days.

He said that the division had sought advice from oil refineries about the possibility of importing oil from Russia. He insisted that the Russian envoy had previously confirmed Imran Khan’s earlier claim that PTI was in talks with Russia over the acquisition of cheaper oil.

He said that the government will soon begin importing coal from Afghanistan and that vehicles needed for electricity generating would receive Pakistani visas at the border.

He said that the government was in talks with a number of foreign nations for a long-term LNG deal since spot purchases were extremely expensive and the government had to reject one LNG proposal for the July window.


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

Pakistan News

Load Shedding Is A Top Trend, Memes Are Starting To Appear

Load Shedding Is A Top Trend, Memes Are Starting To Appear

June 30, 2022 / By Zunair Tahir / Pakistan News



After a long load shedding across the country, the micro-blogging website Twitter ‘load shedding’ has become a top trend, humorous memes from users began to go viral.

Almost 18 thousand tweets has been done on the twitter by the hashtag #loadshedding and it has been trending so far people have been very creative with the hashtag and tried different memes and many types of advices has been posted on the twitter so far.

A user named Mir Hamza shared a picture of Karachi on Twitter and wrote that the city of lights has become a city of darkness nowadays. The City Karachi is very famous for been what it has been called the city of lights and hours and hours of load shedding has been going on may in Karachi due the weather it is almost damn hot out their and the government has been failed to provide any type of relief to the people of Karachi.

And in other cities of Pakistan especially i belong to Lahore and in Lahore 10 to 12 hours of load shedding has been going on And the Prime Minister Shahbaz Sharif also stated that in the up coming month of July load shedding will be increased and their is a lot of humidity in the city and the government is testing the patience level of the people through out the country.

Another user wrote that spending the night without electricity has now become a norm while a user named Shiraz shared the benefits of load shedding. And now if the load shedding is less then people are curious about what will be going on and started different types of thoughts.

It may be recalled that according to sources in the Power Division, the power shortfall has exceeded 7,500 MW due to which the duration of load shedding has also increased. The total power generation in the country is 21,700 MW while the demand is more than 29,000. And the government just tell us the figure that this is the loss that is going on and we have to do more power cuts and doesn’t provide the solution of the problem.

Due to hot weather in Karachi, the power shortfall has increased from 250 to 300 megawatts to 400 to 500 megawatts. Karachi weather is hot and humidity level also increases and people in one family uses more then 1 AC in the house and the Price of electricity also increase and still people have no choice to pay heavy bills and still load shedding goes on and pay full bill.

And in many cities of the country people have found many ways of stealing the electricity and the Electricity board knows about this issue and doesn’t pay full attention on this issue people of this types should be put in jail and make heavy fines that other people should learn some lesson and doesn’t steal the electricity.


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

Coronavirus Cases Logo
Pakistan News

Pakistan Confirms 382 New Coronavirus Cases, Including 2 Fatalities

Pakistan Confirms 382 New Coronavirus Cases, Including 2 Fatalities

June 27, 2022 / By Zunair Tahir / Pakistan News



According to statistics issued by the National Institute of Health Pakistan on Monday morning, Pakistan recorded 382 new coronavirus cases during the previous 24 hours (Sunday), along with two virus-related fatalities.

The number of fatalities has increased to 30,390, or a ratio of 2.0%, according to the NIH figures, following the inclusion of 2 more deaths.

After performing 13,412 tests, the coronavirus positive rate in Pakistan reached 2.85 percent, with 382 new instances of the virus appearing in the last day. The number of cases now stands at 1,534,270.

There are 4,632 current cases in the nation, and 87 individuals are in serious condition.

In the past 24 hours, 267 additional recoveries were reported, bringing the total number of recovered cases to 1,499,248 with a 97.7% recovery rate.

Punjab

The number of cases in Punjab, the most populated province in the nation, has increased by 69 in the past 24 hours, bringing the total to 508,112 with 2,757 active cases. The number of coronavirus deaths in Punjab increased by 1, bringing the total to 13,569, while 491,786 individuals have recovered from the virus thus far.

Sindh

In the past 24 hours, Sindh has added 260 additional cases, bringing the total number of cases in the province to 579,530 with 4,183 active cases. The death toll from the terrible disease in Sindh has now reached 8,110, with 567,237 persons having recovered from the virus in the province as of yet.

Khyber Pakhtunkhwa

In the past 24 hours, 17 new cases have been reported in Khyber Pakhtunkhwa, bringing the total to 219,937 with 727 active cases. As the mortality toll remained at 6,324, the province reported no additional virus-related deaths. So far in the province, 212,886 individuals have recovered from the infection.

Balochistan

Balochistan did not report any new cases, bringing the total to 35,525 with 39 ongoing cases. The province did not disclose any further deaths, leaving the total at 378. In the province, 35,108 individuals have so far recovered from the infection.

Islamabad

In the past 24 hours, 32 additional cases have been reported in Islamabad, bringing the total to 136,028 with 862 active cases. The death toll rose to 1,026 despite no additional fatalities being reported in the Federal Capital. 134,140 patients have so far been successfully treated in the nation’s capital.

Azad Jammu and Kashmir

Azad Jammu & Kashmir reported 4 additional cases throughout the course of the previous day, bringing the total to 43,379 with 70 active cases. The death toll stood at 792 as no fresh fatalities were reported. Since the virus first appeared, 42,517 people have recovered.

Gilgit-Baltistan

No new cases were reported in Gilgit-Baltistan over the past 24 hours, bringing the total to 11,759 with 22 active cases. The province has not reported any further deaths, thus there are now 191 total fatalities. 11,546 people had successfully recovered from the fatal illness.


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

Pakistan News

How Long Will The Series Of Pre-Monsoon Rains Last In Pakistan?

How Long Will The Series Of Pre-Monsoon Rains Last In Pakistan?

June 22, 2022 / By Zunair Tahir / Pakistan News



More rains are forecast for today and tomorrow Wednesday in most cities of Pakistan.
Zaheer Ahmad Babar, director of the Islamabad Meteorological Department’s forecast center, told Urdu News that “there will be more or less rains in the whole country for two days.”
Asked about the danger of floods, he said that apart from floods in the rivers of Khyber Pakhtunkhwa, Galyat and Kashmir, there are also dangers of landslides in the hilly areas.

Regarding the weather conditions in major cities, he said that Islamabad, Lahore, Faisalabad, Sargodha and other major cities will also receive more rains, so there is a possibility of urban flooding.

Similarly, according to the June 20 forecast of Meteorological Center Islamabad, humid winds are entering the upper and central parts of the country, which will continue till the next day.

According to the press release, strong winds and thundershowers are expected in Khyber Pakhtunkhwa, Punjab, Islamabad, Gilgit-Baltistan, Kashmir, Sindh and North East Balochistan on June 21. Heavy rains and thundershowers are also expected in some areas.

According to the weather forecast for June 22, strong winds and thundershowers are expected in Khyber Pakhtunkhwa, Gilgit-Baltistan, Kashmir, Upper Punjab and Islamabad.

Rain with gusts of wind and thunderstorms is expected while the weather will remain humid in other parts of the country.
Similarly, on June 23, it has been reported that the weather will be hot and humid in most parts of the country on this day.

Heavy rains on Monday caused roof collapses and flooding in various parts of the country, killing eight people. Was
On the same day, several low lying areas in Punjab like Dera Ghazi Khan, Rahim Yar Khan, Mandi Bahauddin, Rawalpindi, Jhelum, Chakwal, Murree, Multan, Bahawalpur and Layyah were flooded.
Similarly, three people were killed in two separate roof collapse incidents in Layyah while about 20 km from Sibi.


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

Pakistan News

Negotiations Between IMF and Pakistan, On What Terms Agreed?

Negotiations Between IMF and Pakistan, On What Terms Agreed?

June 22, 2022 / By Zunair Tahir / Pakistan News



Ongoing talks between Pakistan and the IMF to revive the loan program have come close to success. According to Finance Ministry officials, the government has promised to impose 2.5 per cent income tax on those earning Rs 6 to 12 lakh per annum and gradually levy Rs 50 per liter on petroleum products.

According to Finance Ministry officials, the public has been assured of a gradual levy of Rs 50 per liter on petroleum products from July 1. In the first phase Rs 10 per liter and after that Rs 5 per liter will be charged. A total of Rs 750 billion has been targeted to be collected in levies next year.

Apart from this, Pakistan will also collect 1 to 4% income support levy from individuals and companies earning Rs. 150 million to 300 million per annum, while those earning Rs. Has been warned.


READ MORE

The US Dollar Set A New Record


Under the agreement, Pakistan was to increase the tax collection from the salaried class by Rs 125 billion but in the budget the government gave relief of Rs 47 billion instead of increasing the tax which was objected to by the IMF. The government’s move has resulted in a loss of Rs 47 billion in revenue, which has stalled talks with the IMF.

Now the government has once again come out in support of changing the tax slab and those earning Rs 6 lakh to 12 lakh per annum will be taxed at 2.5 per cent instead of Rs 100 which will be approved by the National Assembly through the Finance Bill.

The IMF demanded that the subsidies on oil and electricity be abolished, which was gradually abolished by the current coalition government, after which the IMF’s demand for petroleum levy was accepted and the levy was gradually implemented. Will As a result, prices of petroleum products are likely to rise further from July 1.

According to officials, the total volume of the budget is being increased from Rs 9,500 billion to Rs 9,900 billion at the request of the IMF. The FBR’s annual tax target has been increased by Rs. 436 billion. The FBR will now collect Rs 7440 billion instead of Rs 7004 billion.

Esther Perez Ruiz, the IMF’s representative in Pakistan, said that significant progress had been made in negotiations with Pakistani officials regarding the 2022-23 budget. Talks are underway between IMF staff and Pakistani officials aimed at strengthening macroeconomic stability in the new fiscal year.

According to Finance Ministry officials, an agreement at the staff level will be reached in the next few days as soon as the draft Memorandum of Economic and Financial Policy is received from the IMF. After which the IMF executive board will approve the next tranche of one billion dollars.

Pakistan has already received 3 3 billion out of the 6 6 billion loan program. The loan program has been stalled since March this year.

In this regard, Minister of State for Finance Dr. Ayesha Ghous Pasha said that the previous government had reached an agreement with the IMF on all the demands including personal income tax reforms and we have tried to complete the same incomplete work. We tried to give relief but we are bound by the agreement so we have to accept the condition of IMF.

According to him, the previous government was also in favor of raising petroleum levy and electricity prices. We are not doing anything that is not included in the agreement of the previous government with the IMF, because without it the fire.


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

Pakistan News

The US Dollar Set A New Record

The US Dollar Set A New Record

June 20, 2022 / By Zunair Tahir / Pakistan News


Delays in the agreement with the International Monetary Fund (IMF) and the depreciation of the exchange rate have continued to increase the pressure on the rupee and the value of the dollar in the interbank market has exceeded Rs 210 while the dollar is trading between Rs 215 and 220 in the open market.


READ MORE

2022 CARS PRICE LIST IN PAKISTAN


The rupee continues to depreciate in the country and even today the value of the dollar has been recorded in the interbank market.

Market sources attribute the rising value of the dollar to the fact that Pakistan and the International Monetary Fund (IMF) have not yet restored the Extended Fund Facility (EFF). There are reservations that the authorities have allocated for the next financial year.

According to IMF estimates, even revenue measures in the budget are insufficient to meet the target of just over Rs. 7 trillion. The first draft of the Monetary Policy Memorandum was not received as some issues remained unresolved.

“We are working very closely with the IMF and will come to a conclusion soon,” he said. Is the target.


READ MORE NEWS…


2022 CARS (13) 2022 News (22) 2022 Tech News (13) 2024 Car Price In Pakistan (16) apple (27) Apple Inc (15) Automotive Blogs (14) Automotive News (231) Automotive News Pakistan (20) Auto News (152) Auto Sector (12) Blogs (11) car news (26) Car Prices (12) cars (46) cars of pakistan (47) Cricket (12) electric cars (13) entertainment news (15) F1 (23) F1 News (11) Formula 1 (12) Honda (13) Hyundai (12) Imran Khan (19) Imran Khan News (18) mg (14) MG Pakistan (17) new cars (34) news (384) news pakistan (16) News Update (22) pakistan automotive news (11) Pakistan Government (42) Pakistan News (81) PCB (23) proton (13) proton pakistan (15) PTI (22) Sports News (45) suzuki (18) Suzuki Pakistan (11) Tech News (72) Toyota (16) World News (15)

PreviousNext

You Want To Have Your Favorite Car?

We have a big list of modern & classic cars in both used and new categories.

Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Additional information
Click outside to hide the comparison bar
Compare
X