Tik Tok Pakistan Election Day
TECH NEWS

Tips From TikTok To Maintain The Integrity Of Polls

Tips From TikTok To Maintain The Integrity Of Polls

February 7, 2024 / By Zunair Tahir / Tech News



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Pakistan Army Logo
Pakistan News

Army Placed On Standby In Islamabad On Election Day

Army Placed On Standby In Islamabad On Election Day

February 7, 2024 / By Zunair Tahir / Pakistan News


Approximately fourteen platoons, each with nineteen police officers carrying tear gas cannons and shells, were stationed at various locations.

Twelve and twenty-six of these standby platoons, each with ten members, are deployed with SDPOs and SHOs, while five such platoons, each with eighteen members, are also deployed with the IGP.


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Punjab government
Pakistan News

The Govt May Block The Internet Due To A “Security” Concern On Election Day

The Govt May Block The Internet Due To A “Security” Concern On Election Day

February 7, 2024 / By Zunair Tahir / Pakistan News



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2023 New Year Celebration Pakistan
Pakistan News

Pakistani New Year’s Eve celebrations: Where Can I See The fireworks?

Pakistani New Year’s Eve celebrations: Where Can I See The fireworks?

December 27, 2023 / By Zunair Tahir / Pakistan News


Islamabad/Rawalpindi:

Karachi:

Lahore:


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Sports-Pakistan
Sport News

Budget For Sports Has Been Significantly Reduced

Budget For Sports Has Been Significantly Reduced

June 10, 2023 / By Zunair Tahir / Sport News


With the government granting Rs1.9 billion to the Ministry of Inter-Provincial Coordination (IPC) for 14 existing and three new sports projects, the development budget for the sports industry has been severely decreased.

The government set aside Rs3.4 billion last year for 12 current and seven new program.

The IPC ministry oversees the federal sports sector even though it devolved following the 18th constitutional amendment.

READ MORE: What Actually New Budget 2023-24 Is For ???

A new program named “Revamping and provision of sports facilities at Kashmore” has been allocated Rs20 million, according to budget records.

The district in which IPC Minister Ehsanur Rehman Mazari resides has a total cost of Rs950 million for this project.

At a cost of Rs130 million, Rs30 million has been set aside to develop 250 minor sports complexes, while Rs150 million has been committed for the National Games.

At the Pakistan Sports Complex in Islamabad, Rs103 million has been set aside for building and repairing roads, pavements, etc., and Rs120 million will be used to establish a biomechanical lab.

Similar to this, Rs 100 million has been set aside for the appointment of international coaches to teach national athletes, and Rs 98 million would go towards laying synthetic turf on the football pitch and athletic track at Sports Centre Karachi.


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Budget Pakistan 2023-24
Pakistan News

What Actually New Budget 2023-24 Is For ???

What Actually New Budget 2023-24 Is For ???

June 10, 2023 / By Zunair Tahir / Pakistan News


The budget for fiscal year 2023–24, like the majority of recent budgets, places a significant emphasis on borrowing money to finance expenditures, despite the fact that a sizable portion (more than 50%) of current expenses go towards debt payment.

Despite a narrative that indicates otherwise, the process taken to create this year’s budget wasn’t particularly novel, but some of the actions were.

The government has significantly raised the amount of money that may be sent from outside Pakistan without any questions being asked about the source, which is one of them.

A “bar on asking nature and source of unexplained income/assets” is proposed to be placed on this ceiling, which would be raised from Rs5 million to $100,000 (approximately Rs30 million). This action is most likely an effort to increase the nation’s diminishing foreign exchange reserves, which are now less than $4 billion and barely cover a month’s worth of imports.

In an effort to stop the flow of dollars out of the nation, the administration has also suggested raising the withholding tax rate on payments made to “non-residents through debit/credit or prepaid cards” from 1 to 5 percent. If this proposal were to be ultimately accepted, all foreign online purchases (including those from Netflix and Amazon) would become more expensive.

Another new initiative put up by the finance minister aims to make it easier for small and medium-sized businesses (SMEs) to receive bank loans.

Ishaq Dar brought up a central bank program that allows SMEs to refinance their debts at a 6 percent markup during his address. But he emphasized that banks are reluctant to lend to SMEs since they frequently lack a credit history.

The finance minister stated that this will be fixed by the government taking up 20% of the risk for loans made to SMEs under this program.

The budget for this year also included incentives for IT experts and services, giving Pakistani freelancers who provide IT services to overseas businesses the status of a cottage industry. Therefore, independent exporters won’t need to submit a sales tax report.

Additionally, “old and used vehicles of Asian makes above 1300cc” imports are no longer subject to set duty and tax ceilings.

This implies that reconditioned 1300cc automobiles from China and Japan, which have a considerable market in Pakistan, would probably cost more. Smaller vehicles like the Mira and Alto would not be impacted by this change.

The budget for this year also included incentives for IT experts and services, giving Pakistani freelancers who provide IT services to overseas businesses the status of a cottage industry. Therefore, independent exporters won’t need to submit a sales tax report.

Additionally, “old and used vehicles of Asian makes above 1300cc” imports are no longer subject to set duty and tax ceilings.

This implies that reconditioned 1300cc automobiles from China and Japan, which have a considerable market in Pakistan, would probably cost more. Smaller vehicles like the Mira and Alto would not be impacted by this change.

The budget offered, among other important sales tax or customs duty exemptions:

Customs tariffs on nappy and sanitary product raw components are exempt.
Customs charges on prawns, prawns and juveniles imported for breeding in industrial fish farms and hatcheries are exempt.

The prohibition on buying second-hand clothes has been lifted. The exemption of contraceptives and their accessories from sales tax.

For nonresident individuals who possess a National Identify Card for Overseas Pakistanis/Pakistan Origin Card and purchase real estate using foreign remittances sent from overseas, there is a 2 percent final withholding tax exemption.

For a builder, a 10% tax liability reduction or Rs. 5 million, whichever is less, and for a person, a 10% tax liability reduction or Rs. 1 million, whichever is less, for three years of self-construction of a home.

In contrast, there were several actions that may affect the average person’s finances:

The elimination of the sales tax exemption for foods sold in large quantities under brand names or trademarks.

An increase in the lower rate of sales tax on supplies produced by point-of-sale shops selling leather and textile items from 12 percent to 15 percent.

The suggested tax rate for electric power transmission services is 15%.

0.6 percent advance adjustable withholding tax will once again be applied to cash withdrawals made by inactive taxpayers.

An increase in the rate of withholding tax on payments made to non-residents using debit, credit, or prepaid cards from 1 percent to 5 percent. (Taxpayers who are not active pay two to ten percent).

It is suggested to impose a federal excise levy of Rs 2,000 per energy-inefficient fan and Rs 20 per cent of the value on incandescent bulbs.


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Ishaq Dar
Pakistan News

Dar Again Eliminates The Option Of A Default

Dar Again Eliminates The Option Of A Default

June 3, 2023 / By Zunair Tahir / Pakistan News


Reforms are promised by the finance minister for “long-term improvement” of the nation.

Ishaq Dar, Pakistan’s finance minister, again ruled out the idea of a default on Saturday and pledged that changes are being prepared for the “long-term improvement” of the nation.

The finance czar promised to work with other government officials to help the nation overcome its present economic difficulties while speaking to a delegation from the Karachi Chamber of Commerce and Industry in Islamabad.

Dar said that the Ministry of Finance will start a revolution in agriculture and create a sovereign wealth fund. He added that he is committed to take actions that have previously been disregarded and that the IT industry would also be a priority of his.

The group was also told by the finance minister that there is “no technical justification” for the IMF program’s postponement, which is unprecedented.

He insisted that Pakistan was an independent nation with trillions of dollars’ worth of assets.

Dar said that the nation has over $100 billion in foreign liabilities, but just one asset, its gas infrastructure, is valued between $40 and $45 billion.

The business sector was also urged by the finance minister to make fair expectations for the 2019 budget, and the administration promised to work with them.

Dar’s remarks came a day after a cabinet member said that Pakistan’s request to lessen the need of arranging $6 billion in new loans had been denied by the global lender, leaving the government with little choice except to attempt to resurrect the arrangement.

Minister of State for Finance Dr. Aisha Pasha stressed that Pakistan’s only choice was to return to the IMF in a policy statement delivered at the National Assembly Standing Committee on Finance.

Dr. Pasha claims that Pakistan asked the IMF to take into consideration lowering the $6 billion external funding demand based on fresh data on the current account deficit, but the Fund declined. The other $3 billion was to be arranged after the staff-level agreement, she said, but the IMF insisted on “demonstrating the $6 billion.” She went on to say that there was an understanding to arrange $3 billion before the agreement.

The statement from the ministry of finance shows that the IMF has not altered its position despite a call from Prime ministry Shehbaz Sharif to IMF Managing Director Kristalina Georgieva.

The IMF has already paid out $3.9 billion of the overall $6.5 billion rescue package during the previous four years, with the remaining amount depending upon the conclusion of three outstanding assessments.


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Pakistan News

Iran & Pakistan Link Their Power Networks To Increase Electricity Trade

Iran & Pakistan Link Their Power Networks To Increase Electricity Trade

March 14, 2023 / By Zunair Tahir / Pakistan News


LEBANON – According to IRNA, Iranian Energy Minister Ali-Akbar Mehrabian has declared the conclusion of a power transfer line to Pakistan’s neighbour in an effort to increase energy trades between the two nations.

According to reports, the two nations formally agreed to use the aforementioned transmission line on Monday for the exchange of up to 200 megawatts (MW) of energy in the near future.

In a ceremony witnessed by both of the aforementioned men, the aforementioned contract was inked.

On the margins of a meeting with Dastgir-Khan before the signing event, Mehrabian told the press that the 200 megawatt energy transmission line between Iran and Pakistan was planned and constructed in less than a year.

He declared that the line had undergone all required tests and trials and was now electrified.

“There were positive talks about the interchange of power through this connection in today’s meeting with the Pakistani minister of energy,” Mehrabian continued.

The official estimated that the present yearly trade between the two nations is worth over two billion dollars and added that the building of this line will increase the amount of electricity exchanged between the nations to 200 megawatts, which will significantly strengthen the economic ties.

For his part, Dastgir-Khan referred to his earlier visit to Iran, saying that during this trip, “efforts were made to reach a final agreement and the progress of the previous agreements regarding the electricity exchanges between the two countries through the electricity transmission line was pursued.”

He continued, underscoring the significance of strengthening and expanding ties between the two nations, saying:

“It is anticipated that we will observe the growth of energy trades between the two nations with the final agreement following the creation of technical and business teams.”

The two neighboring nations’ energy ministers met for the second time in less than a year at this conference. During his visit to Tehran in June of last year, Dastgir-Khan conferred with Mehrabian.


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The Long Wait Is Over! Pakistan’s Auto Policy for the Years 2021-2026 Is Here

The Long Wait Is Over! Pakistan’s Auto Policy for the Years 2021-2026 Is Here

July 7, 2021 / By Zunair Tahir / Automotive News


Auto Policy has finally been revealed by the federal government. Khusro Bakhtiar, the Federal Minister for Industries and Production, spoke during a news conference on the new strategy.

We’ve been hearing a lot of stories and speculations concerning automobile price increases in Pakistan. Despite repeated warnings, the situation for automobile users in the country remained uncertain. The wait, however, is now over. Pakistan’s new Auto Policy 2021-2026 has been announced by the government. According to the information given, there is undoubtedly good news for automobile aficionados. Furthermore, the new Auto Policy is good news for automobile buyers in the lower middle and middle classes. Let’s go straight into the specifics!


Impact On Cars

Vehicle Prices Have Dropped

The long-awaited decision has finally arrived. Vehicle costs have been decreased as a result of the new Auto Policy. Vehicles with engines up to 850cc would have their costs reduced to as low as PKR 105,000 under the new policy. When it comes to 1000cc vehicles, costs might drop as low as PKR 146,000. Furthermore, if we look at the Toyota Yaris and Honda City in particular, the costs will drop by up to PKR 125,000.

Here is the Auto Policy for the Years 2021-2026.

  • In the following 1-2 days, new car prices will be applied.
  • To put an end to the “ON Money” mentality, the buyer must register the vehicle in his or her own name.
  • 3,75,000 new employment will be created in the auto industry.
  • The auto sector has a production capacity of 4,15,000 vehicles per year. Pakistan manufactured 1,64,000 cars last year.
  • Cars with engines up to 850cc will have their prices reduced by up to Rs. 105,000.
  • 1000cc rates would be reduced by up to Rs140,000.
  • For one year, the import tariff on electric vehicles (EVs) would be cut from 25% to 10%.
  • If the automobile is delayed for more than 60 days (2 months), the firm will be charged KIBOR + 3%.
  • The automobile industry is taxed to the tune of Rs350 billion.
  • The government is working on a policy for auto development and export. Not only will the policy be focused on the domestic market.

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