Tech and Telecom

With the 2024 T20 World Cup set to take place in the USA and the West Indies, Imad Wasim could prove to be a ‘Game-Changer’ for the Shaheens. Pakistan is already out of form and lacking skill in the spin department, which is where Imad Wasim can excel. His experience in the Caribbean Premier League (CPL), especially during the Powerplay overs make him the “X factor” in Pakistan’s quest to reach the tournament final. Imad’s stats in the West Indies highlight his potential impact. He concedes a boundary only once every 7.9 balls in the Caribbean, which is the best…

To facilitate digital payments at the Cattle Markets for the sale of sacrificial animals for the upcoming Eid Ul Adha, the State Bank of Pakistan (SBP) has temporarily enhanced the transaction/balance limit for various categories of accounts from 31st May to 20th June 2024. The initiative aims to address the issue of significant cash-based transactions that take place during this period by promoting digital channels as a safe and convenient alternative payment mode. The accounts for which limits have been enhanced include, Branchless Banking L-1, Asaan Account/Asaan Digital Account, and Merchant Account where a maximum balance limit of Rs. 5…

The government is planning to raise the General Sales Tax (GST) rate by 1 percent in the upcoming 2024-25 budget to woo the International Monetary Fund (IMF). If implemented, the GST rate would help generate Rs. 180 billion in tax revenue. There is also a proposal to standardize the GST rate across all sectors, reported TheNews. The IMF has also demanded to increase the Personal Income Tax (PIT) rate to 40 percent, however, the plan to tax pensioners pocketing over Rs. 100,000 has been dropped for now. The IMF has shared its draft report with Pakistani officials, urging strict measures…

Khyber Pakhtunkhwa (KP) Chief Minister (CM) Ali Amin Gandapur has announced that the families of police and other government officials who were martyred in the line of duty will be allotted residential plots in housing schemes. CM Gandapur has instructed the relevant authorities to compile data on the heirs of these officials and establish the necessary procedures for the allotment. This decision was made during the first meeting of the Housing Department, held at the Chief Minister’s House in Peshawar on Wednesday. The meeting was attended by Special Assistant to Chief Minister for Housing Amjad Ali Khan, Principal Secretary to…

Sindh Governor Kamran Tessori announced a new initiative on Wednesday to provide free breakfast to schoolchildren across the province, ARY News reported. Speaking at a ceremony in Karachi, the Governor introduced the “Governor’s Initiative for Free Breakfast for Students,” aimed at providing free breakfast to children in government schools. Tessori cited a survey indicating that many children in Sindh miss breakfast due to poverty and inflation, with some having gone without milk for two years and others without eggs for six months. He noted that similar to the 50,000 children enrolled in the Governor’s House’s IT program, no schoolchild will…

The Punjab government has decided to allocate separate barracks for beggars in jails across the province. Punjab Secretary Home, Noor-ul-Amin Mengal, stated that beggars will face imprisonment and that the law will be enforced accordingly. On Wednesday, the Home Secretary visited the District Jail Faisalabad, inspecting the visitor’s room, kitchen, hospital, and both male and female barracks. He assessed the quality of food provided to prisoners and instructed the food authorities to conduct surprise visits on a monthly basis. Mengal directed that prisoner visitor rooms across the province be developed to international standards, including the use of air conditioners during…

A Deputy Superintendent of Police (DSP) assigned to the Anti-Vehicle Lifting Cell (AVLC) in Karachi has been caught red-handed selling stolen motorcycles. ARY News’ “Sar-e-Aam” team, led by anchorperson Iqrar ul Hassan, conducted a sting operation at the AVLC office, where DSP Nijabat Hussain was found selling stolen motorcycles. The sting operation revealed that the DSP had been selling motorcycles recovered after theft without informing the original owners. Citizens complained about DSP Hussain’s involvement in illegal activities while he was posted at AVLC East. As part of the sting operation, the Sar-e-Aam team purchased two motorcycles from the DSP for…

A cabinet meeting was held under the chairmanship of Sindh Chief Minister Murad Ali Shah in which some important decisions were taken including collection of property tax from the cantonment areas. It was decided in the meeting that the Cantonment Board would recover the property tax according to its method keep 2% of service charges and give the rest to the Sindh government. In the cabinet meeting, approval was also given to introduce a joint Sindh Business One Stop Shop of 16 different departments in the province. According to the spokesperson of Chief Minister House, Murad Ali Shah also directed…

Pakistan’s renewable natural capital, valued at $474 billion (13.6 percent of the nation’s total wealth), is under imminent threat as it faces rapid depletion, says the World Bank. The Bank in a working paper “Targeting national restoration actions for ecosystem services” stated that the country grapples with critical environmental issues driven by a rising population, urbanization, and fossil fuel use, including overused natural resources, increasing air and water contamination, dwindling energy reserves, and deforestation. Diverse geographical and climatic conditions expose it to various natural disasters, from earthquakes and floods to tsunamis, droughts, cyclones, and hurricanes, the Bank noted. The study…

The government is likely to restore tax exemption status for Private Equity and Venture Capital Funds in the coming budget (2024-25) having negligible revenue impact on Federal Board of Revenue (FBR) tax collection in the next fiscal year. Sources informed that the FBR is reviewing this budget proposal of the Securities and Exchange Commission of Pakistan (SECP) for 2024-25. The argument is that exemption would have far reaching effects on start-up investment as compared to over Rs. 3 million revenue impact of this exemption. The proposal is the reinstatement of tax exemption status for Private Equity and Venture Capital Fund…