Punjab govt revises property, motor tax rates
LAHORE - Caretaker Punjab government has approved several amendments in the property tax and motor vehicle tax rates across the province. Punjab caretaker cabinet approved these proposals sent by the Secretary Excise, Taxation and Narcotics Control Department (ET&NC) in the recent meeting. The cabinet permitted the department to conduct a fresh survey for assessment of property tax in Punjab. He hoped that from January 1, 2024, property tax would be assessed according to the new survey. Earlier, the survey of immoveable properties for property tax was conducted in 2014.
Source:The Nation
July 31, 2023 13:11 UTC
The UAE: The Middle East’s Teflon Nation
The United Arab Emirates resembles US ‘Teflon President’ Ronald Reagan. UAE President Mohammed bin Zayed doesn’t need to worry about performance ratings. The UAE’s Teflon coating has long dampened the effect of allegations of loose money laundering and sanction compliance controls and human rights abuses, and repeated revelations about covert surveillance and monitoring operations beyond the country’s borders. However, the Teflon shield, the product of one of the Middle East’s most successful nation branding campaigns, may be fraying at the edges. The Fortress deal scrutiny does not mean the UAE’s Teflon is irreparably damaged.
Source:The Nation
July 31, 2023 12:17 UTC
Will this IMF lifeline be any different from the others?
Last year in August, I wrote about “IMF Deals Sans Political Stability.” After a year of painful struggle, we have finally secured a Standby program from the International Monetary Fund (IMF), but political chaos continues to loom large. In our longstanding relationship with the IMF dating back to the 1950s, we have engaged in 12 standby agreements (SBA) and 10 extended fund facilities (EFF) programmes. Therefore, the IMF has now become more prescriptive, introducing a band of a maximum ±1.25% average between the interbank and open market rates during any consecutive 5-business day period. It will be interesting to observe whether remittances are restored post-market-based exchange rate mechanism or if there is a more insidious factor contributing to the continuous fall. The writer is a financial market enthusiast and is attached to Pakistan’s stocks, commodities and emerging technologyPublished in The Express Tribune, July 31st, 2023.
Source:The Express Tribune
July 31, 2023 08:21 UTC
PM inaugurates 1263MW thermal power plant project in Punjab
Prime Minister Muhammad Shehbaz Sharif inaugurated on Sunday various development projects across Punjab, including a 1,263 megawatts (MW) thermal power plant in Jhang with a capacity of generating 10 billion inexpensive units annually. The PM launched various projects, including Rs50 billion Medical City, Rs52b National Health Support Programme and Rs30b Population Welfare Programme. Besides, he broke ground for SL-3 Lahore Ring Road project, Shadara to Kala Shah Kaku Metro Bus extension project and inaugurated a 1263 MW Punjab Thermal power plant in Jhang with a capacity of generating 10 billion inexpensive units annually. He said that under China Pakistan Economic Corridor (CPEC), the PML-N government had initiated Haveli and Baloki power plants with power generation of 1,200MW each, besides, a 1150MW Bhikki project in Punjab. The prime minister also regretted that due to PTI’s sit-ins at D-Chowk in 2014, President Xi’s visit to Pakistan was postponed.
Source:The Express Tribune
July 31, 2023 00:06 UTC
Hot, humid weather forecast for Sindh
KARACHI - Pakistan Meteorological Department on Sunday predicted hot and humid weather for most parts of the Sindh province during the next 24 hours. However, light rain is forecast for coastal areas of the province at isolated places during the period. The Minimum and maximum temperatures were recorded in Karachi 32-34 degrees Centigrade, Hyderabad 33-35 degrees Centigrade, Sukkur 36-38 degrees Centigrade, Thatta 32-34 degrees Centigrade, Mohenjodaro 36-38 degrees Centigrade, Dadu is 39-41 degrees Centigrade, Mithi 34-36 degrees Centigrade, and in Nawabshah 37-39 degrees Centigrade. Mainly, hot and humid weather is likely to prevail in the province.
Source:The Nation
July 31, 2023 00:00 UTC
PIA loses Rs19b due to cancellation of scheduled flights in one year
ISLAMABAD: The Pakistan International Airlines (PIA) has lost Rs19 billion due to the cancellation of scheduled flights in one year. The figures revealed that PIA lost Rs19 billion due to the cancellation of flights during one year in 2021. This loss to PIA was due to the cancellation of more than four thousand flights. During the 2021 audit of the Flight Operations Department, it was seen that PIA’s domestic and foreign scheduled flights were 23 thousand 636. Out of 23 thousand 636, 4 thousand 305 flights were cancelled, which is 18 percent of the total scheduled flights.
Source:Pakistan Today
July 30, 2023 21:31 UTC
Russia accuses Ukraine of new drone attack on Moscow
Russian law enforcement officers and emergencies ministry members work at an accident scene near the damaged office building in the Moscow City following a reported Ukrainian drone attack in Moscow, Russia, July 30, 2023. PHOTO: REUTERSRussia's Defence Ministry said it had brought down three Ukrainian drones early on Sunday that had been trying to attack Moscow. The incident followed what Russia said was a similar Ukrainian attempt to attack Moscow with two drones last Monday, one of which was brought down close to the headquarters of the defence ministry. The Defence Ministry said two drones had crashed in the Moskva-Citi district after being brought down using radio-electronic equipment. Glass and debrisA young woman who gave her name only as Liya described the Moscow incident.
Source:The Express Tribune
July 30, 2023 17:48 UTC
Season-ticket sales are down as Aztecs enter Year 2 at Snapdragon Stadium
San Diego State football season ticket sales are running 23 percent behind 2022 totals, with 10,307 season tickets sold so far this year compared to 13,400 at this point last year. The Aztecs are aiming for the “12,000 range” in season tickets this season, Walker said. That would be in line with sales from 2017-19, the last three seasons at SDCCU Stadium, though higher ticket prices at Snapdragon have significantly increased revenue. Group sales will be more of a priority this season, Walker said. “This year, we’re doing group functions, having larger groups come out and do tailgates and those sort of things.”It is an unusually front-loaded home schedule, with four games at Snapdragon Stadium in the season’s first five weeks.
Source:The Express Tribune
July 30, 2023 17:28 UTC
CPEC model of two nations adherence to joint construction, sharing of high-quality resources: Chinese scholar
As of 2022, the CPEC had brought $25.4 billion in direct investment to Pakistan and created about 236,000 jobs there. It helped Pakistan generate 8,000 megawatts of electricity and build 886 kilometres of national core transmission grid, according to the Chinese Embassy in Pakistan. While China and Pakistan have kept on promoting high-quality development of the CPEC, Western media use debt trapsť and unqualified projects to smear the BRI project. Danish, a manager of Power-China’s construction project group in Pakistan, told the Global Times that in the field of green energy, Pakistanis are impressed by the technology accumulation and construction efficiency of Chinese companies. Power-China has completed the construction of 22 wind power projects in Pakistan, with a total installed capacity of 1.14 million kilowatts.
Source:The Nation
July 30, 2023 16:36 UTC
One-sided, negative 'propaganda' making PTI more popular, claims Asad Qaiser
PTI leader Asad Qaiser has claimed that one-sided and negative propaganda against his party is making it more popular. In a video message, Qaiser called for an end to what he called ongoing ‘propaganda’ against his party. He said they (rulers) were in misconception and more negative propaganda would make the PTI more popular. Qaiser said whether the alleged ploy to keep the party out of the upcoming elections would bring stability to the country. The PTI leader said only the nation would decide whether to bring the PTI chairman back to power or someone else.
Source:The Nation
July 30, 2023 16:23 UTC
Hot, humid weather expected in most parts of country: PMD
Hot and humid weather is expected in most parts of the country during the next twelve hours. Rain wind and thundershower is expected at scattered places in northeast Punjab, Pothohar region, Khyber Pakhtunkhwa, northeast Balochistan, Kashmir and Gilgit-Baltistan. Temperature of some major cities recorded this morning:Islamabad twenty-five degree centigrade, Lahore twenty-four, Karachi twenty-nine, Peshawar twenty-six, Quetta twenty-two, Gilgit eighteen, Murree seventeen and Muzaffarabad twenty-one degree centigrade. According to weather forecast of Met Office for Indian Illegally Occupied Jammu and Kashmir, partly cloudy weather with chances of rain-wind and thundershower is expected in Srinagar and Pulwama while cloudy weather with chances of rain-wind and thundershower in Jammu, Leh, Shopian, Baramula and Anantnag. Temperature recorded this morning:Srinagar, Pulwama and Shopian sixteen degree centigrade, Jammu twenty-five, Leh eight, Anantnag and Baramula fifteen degree centigrade.
Source:The Nation
July 30, 2023 16:23 UTC
Analysts say nation is united to defeat the menace of terrorism
Analysts say nation is united to defeat the menace of terrorismMaulana Abdul Khabeer Azad (Chairman Ruyat-i-Hilal Committee): We condemn the attack on JUI-F convention in Bajaur in the strongest terms. Our valiant armed forces and security forces are ever ready to foil the nefarious designs of enemies. Today, the whole nation should be united to remove these elements from our ranks. The people, society and the media should stand behind their security forces in their mission to rid the country of terrorists. We need to devise new and stringent laws to deal with the menace of terrorism.
Source:The Nation
July 30, 2023 15:14 UTC
Siraj vows to extend support to teenage victim
Jamaat-e-Islami (JI) Emir Sirajul Haq vowed on Saturday to play his role in providing justice to 14-year-old maid Rizwana. Siraj inquired after the health of the maid at the General Hospital. He said that what happened to Rizwana was shameful for the entire nation. Such a shameful incident also happened in Rawalpindi," Siraj said. Assuring justice to the victim's parents, Siraj said he will fully cooperate with Rizwana.
Source:The Nation
July 30, 2023 03:39 UTC
Take Five: Big or bigger?
Keep calm and bet on sterlingWhen the BoE meets on Aug 2, policymakers will finally have something to cheer about. Inflation hasn’t accelerated since February and there are signs that widespread price pressures are starting to abate. It’s taken policymakers eight months to bring inflation down to 7.9%, from a peak of 11.1%. Between now and its next meeting in September, the Fed gets two sets of jobs data – and inflation numbers – to pore over. The ECB just hiked rates – as expected – again and the ‘will they’ or ‘won’t they’ lift rates in September debate is well under way.
Source:The Express Tribune
July 29, 2023 20:25 UTC
The debate over military courts
“In 2015 military courts were introduced as a necessary evil for a two-year period. In 2017, military courts were extended for another two-year period, which now expires at the end of March. “The debate stands framed even without discussion on the issue: if you are a patriot, you must be pro all things military, including military courts. Our parliament can engage in a meaningful debate about extension of military courts, by summoning from the defence ministry record of trials conducted by military courts so far and determining through application of mind whether the process in place meets basic standards of fairness. Will the Supreme Court move a notch up from where it left the issue of military courts in 2015?
Source:The Express Tribune
July 29, 2023 15:31 UTC