The All Punjab LPG Distributors Association said that the government’s recent crackdown against the LPG market has led to the closure of numerous LPG shops and caused a backlash from shopkeepers and consumers alike. In a letter to Deputy Commissioner Lahore, the association has voiced strong opposition to the crackdown, labeling it as “unacceptable” and accusing the government of committing an “economic murder” of thousands of LPG shopkeepers. The association has called on Chief Minister Punjab to intervene and halt the crackdown immediately. According to the association, the shutdown of LPG shops has created a shortage of LPG in the…
Category: Tech and Telecom
Will We Ever See Peak Shaheen Afridi Again?
“What a beauty, he’s on absolute fire, they can not play him!” — Feels like a lifetime ago, doesn’t it? Remember that T20 World Cup in 2021 when a baby-faced Shaheen Afridi ripped through India’s top order? The teenage sensation had the cricket world at his feet. That year was his peak, snagging a whopping 78 wickets in 36 international matches and then winning the ICC Player of the Year award for 2021. But the young star’s story was just beginning. In 2022, at 21 years old, Shaheen Afridi led the Lahore Qalandars to their first-ever PSL title, breaking a…
Govt Once Again Fails to Approve Solar Panel Policy
The government has once again delayed approving a new policy for solar panel manufacturing due to ongoing uncertainty over whether to promote solar energy or protect imported fuel-based power generation. This delay has adversely affected the investment plans of Sinotec Solar Corporation, a leading US manufacturer of solar panels, reported Express Tribune. The company plans to relocate its factory from Thailand and set up an automatic plant for high-end solar panel manufacturing for export purposes. Last week, the Economic Coordination Committee (ECC) of the Cabinet deferred the approval of the solar panel manufacturing policy for 2024. It bears mentioning that…
Pakistan Fintech Association Urges Strong Governance, Greater Distribution Partnerships for Raast
The Pakistan Fintech Association (PFA) is calling on all fintech companies, both regulated and non-regulated, to place a heightened emphasis on robust governance and compliance structures. Considering the evolving financial landscape and regulatory expectations, PFA said in a statement that it stands ready to support fintechs in achieving and maintaining these standards. Emphasizing Strong Governance and Compliance PFA urges fintech companies to adopt and reinforce strong governance frameworks and compliance measures. This is essential not only for regulatory adherence but also for sustaining customer trust and ensuring long-term success. PFA is committed to assisting fintech’s in navigating these requirements by…
Senate Committee Rejects Proposal of 18% Sales Tax on Mobile Phones
The Senate Standing Committee on Finance and Revenue has rejected the government’s budget proposal to impose an 18 percent sales tax on mobile phones priced up to $200 (approximately Rs. 56,000). Committee members rejected the new tax during a session on Saturday with Senator Saleem Mandviwala in the chair. Committee member Anusha Rehman said mobile phones are essential items rather than luxury goods. She argued that imposing such a tax would disproportionately affect cheap phones, making them unaffordable for many consumers. The senator said the federal government is putting too much burden on the poor for the International Monetary Fund.…
Chairman Finance Committee Criticizes FBR for Using Aggressive Tactics to Meet Tax Targets
Chairman Senate Finance Committee Salim Mandviwala has criticized the Federal Board of Revenue (FBR) for using aggressive measures to meet its revenue collection targets. The Senator made these remarks while addressing media persons a day earlier, expressing concerns about the economic impact of increased taxes. He also warned that a 10 percent rise in inflation is likely due to the new tax measures in federal budget 2024-25. Highlighting the dire economic situation in Pakistan, Mandviwala criticized the current taxation strategy, noting that the imposition of taxes on basic items will significantly increase inflation. He added that the government is unable…
Senate Panel Recommends Mandatory Credit/Debit Card Transactions for Purchases Exceeding Rs. 30,000
The Senate Standing Committee on Finance and Revenue convened its 9th consecutive session to finalize recommendations on the Finance Bill 2024-25. During the meeting, the committee extensively deliberated on the Sales Tax Provisions of the Money Bill 2024. Chaired by Senator Saleem Mandviwalla, the session was attended by committee members including Senators Sherry Rehman, Farooq Hamid Naek, Anusha Rahman Ahmad Khan, Shahzaib Durrani, and Fesal Vawda. Senator Zeeshan Khanzada also attended as a special invitee, alongside representatives from the Federal Board of Revenue (FBR) and other relevant departments. The committee revised the amendment related to the liability for tax payments…
Pakistan Manufactured Over 13 Million Mobile Phones in First Five Months of 2024
The local manufacturing/ assembling plants manufactured/ assembled 13.08 million mobile handsets during the first five months (January-May) of the calendar year 2024 compared to 0.76 million imported commercially. Official data revealed that the locally manufactured/assembled 2.23 million mobile handsets in May compared to 0.11 million imported commercially. The locally manufactured/assembled 13.08 million mobile phone handsets included 4.98 million 2G and 8.1 million smartphones. Besides, as per the PTA data, 61 percent of mobile devices are smartphones, and 39 percent are 2G on the Pakistan network. Local manufacturing/assembling of mobile handsets declined by around four percent during the calendar year 2023,…
Telecom Industry Warns New Budget Taxes on Phones, Services Will Hamper Digital Progress
The telecom industry raised alarms over the proposed imposition of taxes on mobile handsets and telecom services in the country. The recently proposed budget for the fiscal year 2024-25 includes an 18 percent GST on mobile phones valued under $500 and a 25 percent tax on phones over $500. Telecom operators argue that these new taxes will hamper digital progress and exacerbate the digital divide in the country as a majority of the population is unable to afford the high cost of connectivity. Affordability remains one of the primary causes of the digital divide in Pakistan, where 20 percent of…
AI Gone Wrong: TikTok Tool Lets Users Create Offensive Content
In a security snafu, TikTok accidentally shared a link to an unfinished version of its new AI tool. This tool allows users to create videos featuring digital avatars that can speak anything. Unfortunately, the early version lacked safety measures, and some users, like CNN, were able to generate videos containing harmful content, including quotes from Hitler and dangerous messages. While this unpolished version has been taken down, TikTok assures users that the final, secure tool is still on track for launch. TikTok’s new advertising tool, Symphony Digital Avatars, launched this week with a surprising glitch. The tool allows businesses to…
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