10 Facts

08/08/2022

BIRMINGHAM: The gold delivered in record-smashing style, a 56-year medal drought in track and field for Pakistan at the Commonwealth Games ended, Arshad Nadeem sank to his knees and prostrated.

This meant a lot. This was incredible. Against all the odds, without his coach and with his throwing elbow heavily taped due to injury, Arshad won the javelin throw final at the Alexander Stadium with a monster 90.18-metre throw on Sunday evening.

Achieving that distance in his fifth throw, he came on top in a field that included world champion Anderson Peters, former Olympic champion Keshorn Walcott and former Commonwealth and world champion Julius Yego.

01/08/2022

Yamaha YB125Z (Red/Black) price has seen a massive jump of Rs. 18,000 and now it will cost Rs. 273,000 as compared to old rate of 255,500.

10/07/2022

03/07/2022

The Pakistan Petroleum Dealers Association (PPDA) on Sunday announced that it will be going on a nationwide strike as of July 18, shutting down petrol stations all over the country, in the wake of rising oil prices.

The PPDA chairman Abdul Sami Khan, in a statement, said that it was not possible to continue petroleum sales at the current rate. He announced that petrol pumps will remain closed following July 18 until the margin on petroleum products is increased.

The statement was issued after an emergency meeting was called by the PPDA where it was decided that a minimum commission margin of six per cent was required for the stations to continue operating.

The officials lamented that the current margin of 3.5 per cent was not sustainable.
Source: https://tribune.com.pk/story/2364478/petroleum-dealers-threaten-shutting-down-stations-in-protest

26/06/2022

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan announced on Saturday that his party would organise a power show in Islamabad’s Parade Ground and begin nationwide protests against rising inflation and amendments in the NAB law from July 2.

The former premier lashed out at the “imported government” for its bid to turn Pakistan into a “banana republic”, saying the amendments in the anti-graft body’s laws would drive the country towards destruction as Rs1,100 billion of public money looted by the corrupt mafia has been pardoned through the amendments.

Addressing people through a live broadcast on Saturday, the PTI chairman said that the current rulers wanted to silence people by spreading fear among them but urged the masses to “break the idol of fear” and come out against the imported government for the sake of the future of their children, as “thieves” were hell-bent on destroying everything.
Source: https://tribune.com.pk/story/2363299/imran-announces-anti-govt-rallies-in-major-cities-on-july-2

26/06/2022

Ghee manufacturers have whooped in profitable delight over making more than Rs300 billion by jacking up rates on account of price-hike of international edible oil, petroleum products and dollar fluctuation in six months from Jan-June 2022.
To satiate their hunger for making extra buck, they keep shifting the burden on to consumers on one pretext or the other but never lower ghee prices no matter edible oil and petroleum products’ rates drop or dollar gets stable. In the international market, the price of RBD Palm oil price from Jan 1, 2022 to June 24, 2022, ranged between $1312/ton and $1495/ton while it touched a maximum of $2048/ton on March 2.
The ghee manufacturers made extra profits with the increase in international RBD Palm oil price by linking the hike to domestically produced items. The cycle of import is normally 30-45 days. In case, an L/C (Letter of Credit) for a RBD Palm oil consignment opened on Jan 1, 2022, is likely to have delivery in next 30-45 days (from Feb 1 to Feb 15, 2022.
The manufacturers, who opened L/Cs in January at $1315/ton, should have sold ghee/cooking oil produced from it at the import price but the situation was otherwise. They instead of selling it at import price sold it at $1450-1570/ton rates. Thus, they made almost $255/ton extra money.
Average monthly consumption of ghee/cooking oil in Pakistan is around 350,000 ton. The industry gets Rs150/kg extra profit each month by jacking up rates on account of international RBD Palm Oil, POL price-hike and dollar fluctuations. Thus, it earns an extra profit of Rs150,000 on per ton and the figure touches Rs52 billion on 350,000 ton.
The ghee manufacturers kept on increasing prices during the last six months without fear besides demanding the government reduce duty/tax rates to help bring down the rates of ghee/cooking oil.
Now, RBD Palm Oil prices in the international market are on the decline. But the manufacturers are still following the same formula they adopt while increasing ghee/cooking oil prices. Rather, they claim that ghee/cooking oil being sold in the domestic market is produced on costly RBD Palm oil.
When contacted, Pakistan Vanaspati Manufacturers Association Chairman Tariqullah Sufi said that the local ghee/cooking oil prices had already started declining. He said the prices had gone down from Rs6 to Rs8 per kilogram in the last few days. He, however, made it clear that the prices of ghee/cooking oil would not come to the previous rates. Replying to a question about justification for the price-hike despite a decline in RBD Palm oil prices, he said the situation would normalise in 15-20 days. The RBD Palm oil prices will come to January 2022 level, he said, adding that it will not impact the domestic price. “If the price of one thing goes up in Pakistan, it never comes down again,” he remarked.

24/06/2022

Pak Suzuki Motor Company (PSMC) has reportedly decided to discontinue one of its top-selling cars, Cultus. According to reports, Cultus will be officially discontinued in the coming months.
Reports state that the sales of Cultus were affected by the sales of Alto and Swift, with the company aiming to promote Swift more actively and increase the sales of Alto.
Data from the Pakistan Automotive Manufacturers Association (PAMA) shows that PSMC sold over 9,800 units of Alto in March this year. The number dropped to 5,000 in April. The sales slightly rebounded to around 5,400 in May.

24/06/2022

KARACHI: The Higher Education Commission (HEC) has asked the vice-chancellors (VCs) of the public universities to promote the consumption of local drinks such as lassi and sattu as this will “increase employment and generate income for the public” amid the ongoing financial crisis in the country.

HEC acting chairperson Dr Shaista Sohail, in a circular, drew the VCs' attention to the financial crisis confronting Pakistan and asked them to take a “leadership role and think of innovative ways to provide relief to the lower-income groups and the economy as a whole”.
Source: https://www.thenews.com.pk/latest/968872-financial-crunch-promote-lassi-and-sattu-hec-tells-vcs

24/06/2022

KARACHI: Pakistani athletes have won three more medals — one silver and two bronze — on Friday to finish in overall third position in the fourth Mas-Wrestling World Championship in Russia.

According to Nawab Furqan Khan, the president of the Pakistan Mas-Wrestling Federation, Pakistan’s Ali Azhar had to settle for the silver medal in the 70 kg weight category after going down against Russia’s Nikanorov Valery in the final.

Two other athletes — Muhammad Alam and Shiraz Ali — ended their campaign with bronze medals in their respective categories.
Source: https://www.geo.tv/latest/424301-pakistan-secure-three-more-medals-in-fourth-mas-wrestling-world-championship

20/06/2022

LAHORE (Dunya News) - The Punjab government on Monday set Rs 3.62 billion target for traffic rules violation fine for the next financial year.

An increase of Rs20 crore has been made in the target as compared to the current financial year.

In the case of e-challan, a target of 40 crore challans has been set. While, a target of Rs68.98 crore has been set for driving license fees.

The traffic police department will have to collect Rs6.3 billion in all fines and fees.

Source: https://dunyanews.tv/en/Pakistan/656747-Punjab-government-sets-Rs3-62-bn-target-for-traffic-rules-violation-fine

19/06/2022

ISLAMABAD:
Senate Standing Committee on Finance has approved 100 per cent increase in the vehicle registration tax for non-filers and directed the Federal Board of Revenue (FBR) that whatever legislation is done should be brought in the form of a bill and not through ordinances.
The Senate panel met under the chairmanship of Saleem Mandviwalla on Saturday. The meeting was attended by senators Sadia Abbasi, Talha Mehmood, Zeeshan Khanzada, Anwarul Haq Kakar besides FBR Chairman Asim Ahmad and member policy and other officials.
The FBR officials revealed that Pakistanis will have to pay one per cent capital value tax (CVT) on their declared property in Dubai, London and New York.
The FBR plans to raise Rs10bn by levying 1pc capital value tax (CVT) on liquid foreign assets of Pakistanis, another Rs8bn from 1pc CVT on foreign immovable properties of Pakistani residents and another Rs10bn from an increase in advance income tax on luxury vehicles above 1600cc.
The committee chairman directed the FBR officials that whatever legislation is done should be brought in the form of a bill and not through ordinances.
The FBR chairman while briefing the meeting maintained that the issue of Pakistan Pharmaceutical Manufacturers Association (PPMA) refunds had been resolved. The PPMA representative told the committee that the refunds had not been made for the last four-and-a-half-months.
The FBR officials noted that the vehicle registration tax for non-filers had been increased by 100 per cent. Mandviwalla suggested that small vehicles whether owned by filers or non-filers should not be taxed.
Opposing the stance, the FBR chairman maintained that they wanted to “document the economy” and approved 100 per cent increase in vehicle registration tax for non-filers.
He further said that a non-filer would have to pay five per cent tax on the purchase of a property.
The FBR officials further observed that flying allowance for a pilot had been included in his salary. Earlier, the flying allowance was taxed at 7.5 per cent.
The committee chairman objected to the point, saying the salary of a pilot was already taxed. The panel opposed taxation by merging flying allowance into the salary.
The revenue board representatives said that the exemption of capital gains tax on property was being withdrawn for retired and serving army employees. The exemption was also being revoked for the government employees. The recommendation was approved by the committee.
The Senate body was told that the Supreme Court tax fund had been exempted from tax. Senator Sadia said it was not the apex court but the government’s job to increase the water reserves.
The FBR officials said that private NGOs including some foreign ones were already exempted from tax.
The standing committee reviewed the recommendations forwarded by the departments concerned regarding income tax, sales tax and customs tax in the Finance Bill 2022. It also deliberated on the suggestions about Islamabad Capital Territory Ordinance.
Source: https://tribune.com.pk/story/2362289/100-increase-in-vehicle-registration-tax-approved

18/06/2022

Last Friday, this old man gave away free petrol worth Rs. 700/- to 90 people who couldn't afford daily fuel due to rising prices at Orangi Town 5 number. The old man approached the pump owner and asked to fill the fuel tank of deserving rickshaw and bike drivers who couldn't afford expensive fuel, he was holding a pen and paper with which he was counting the people receiving the fuel. People of Karachi are always helpful to each other, salute to this old man.Last Friday, this old man gave away free petrol worth Rs. 700/- to 90 people who couldn't afford daily fuel due to rising prices at Orangi Town 5 number. The old man approached the pump owner and asked to fill the fuel tank of deserving rickshaw and bike drivers who couldn't afford expensive fuel, he was holding a pen and paper with which he was counting the people receiving the fuel. People of Karachi are always helpful to each other, salute to this old man. .