Islamabad: As reported by the State Bank of Pakistan (SBP), overseas workers sent USD 30.3 billion home in the fiscal year 2023–24 (FY24), a 10.7% rise from USD 27.3 billion in FY23. The news was obtained from a July 9 story. The data indicates that this increase is the result of more money being moved through authorized routes. In June 2024, remittances dropped 3% month-on-month to USD 3.16 billion...
Islamabad: On July 11, a meeting known as the All Project Progress Review was convened in the Committee Room of the Federal Government Employees Housing Authority (FGEHA) under the direction of Director General Capt. Muhammad Zafar Iqbal (retd). The purpose of the conference was to discuss the progress and status of several important housing projects. The meeting was attended by the Chief Engineer,...
Punjab Chief Minister (CM) Maryam Nawaz has launched an initiative to provide 1,224 free flats for workers in Taxila and Sundar labor colonies, according to a news source on July 11. This move aims to enhance the welfare and living conditions of workers in the region. During a high-level meeting, significant decisions were made to boost workers' welfare. These decisions included a comprehensive review of...
Lahore: As reported by a news source on July 10, the Federal Board of Revenue (FBR) modified its tax withholding (WHT) regulations impacting motor vehicle transactions, salary income, and the purchase and purchase of immovable property. These changes, effective from July 1, 2024, are expected to streamline tax collection processes and ensure greater compliance across various sectors. As per the details,...
Lahore: The Provincial Development Working Party (PDWP) approved several major development projects worth over PKR 24 billion, as reported on July 10. This substantial financial commitment reflects the government's dedication to enhancing infrastructure, sustainability, and economic growth within the province. The conference, presided over by Barrister Nabeel Awan, reportedly approved PKR 9 billion for...
Islamabad: After a period of stability around PKR 1200, cement prices have recently adjusted, now averaging PKR 1409 per bag, as reported in a news article on July 10. The costs differ depending on where you are in Pakistan; Islamabad is PKR 1458, Lahore is PKR 1500, Sargodha is PKR 1460, and Peshawar is PKR 1500. These changes follow the new Budget and an increase in the Federal Excise Duty (FED) on...
Islamabad: According to the Pakistan Bureau of Statistics, the cost of a 50 kg bag of cement has increased significantly in Pakistan, to as much as Rs1,500, as of July 8. This steep price increase is significantly impacting construction projects, particularly in major cities like Lahore and Peshawar. Details indicate that Peshawar and Lahore are the two cities most impacted by this price increase. In just...
Islamabad: According to a report on July 8, the Federal Board of Revenue (FBR) has declared the availability of new refund forms for the tax year 2024. This announcement is part of a broader effort to streamline the tax filing process and improve compliance among various taxpayer categories. The specifications indicate that the new forms are intended for salaried individuals, businesses, associations of...
Details indicate that going forward, the CDA will only purchase electric motorcycles, which is a big step in the right direction to reduce pollution in the environment. By phasing out conventional motorcycles and introducing eco-friendly electric buses, the CDA aims to significantly reduce the city's carbon footprint. This transition is part of a sweeping environmental initiative designed to promote...