Construction Projects in Punjab to Generate Rs 1,767.15 Billion in Economic Activities

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Prime Minister Imran Khan was informed that construction sector projects in Punjab would fetch Rs. 353.43 billion in investment, generate economic activities worth Rs. 1,767.15 billion and create 315,678 job opportunities. The Prime Minister was given a detailed briefing about Housing, Construction, and Development in Punjab and Khyber Pakhtunkhwa by the Chief Sectaries of both …

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Pakistan to Issue Green Bond for Hydropower Projects

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Pakistan’s government is planning to issue a $500 million green bond in the next few months to help boost its development of hydroelectric power, Bloomberg reported. Adviser to Prime Minister Imran Khan on climate change, Malik Amin Aslam, spoke to the media saying that this bond will be denominated in Euros and is the first by …

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Pakistan To Cross Rs. 100 Billion ECommerce Trade In 2021

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 Pakistan’s first EdTech company specializing in e-commerce and digital trade education and practices to train Pakistani youth to sell on Daraz platform. Extreme Commerce and Daraz signed a memorandum to improve eCommerce and digital trade literacy in the country. Although, the State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) are working to introduce a platform that will facilitate …

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Pakistani start-up introduces voice search

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Firms in the e-commerce sector are introducing new innovations with every passing day in a bid to enhance market share as well as digital penetration in Pakistan. Recently, Shopsy.pk, a Pakistani startup operating in the e-commerce space, integrated voice search on its platform to assist customers to use their voice to navigate its website and application. The …

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CCP Set to Punish Ghee and Cooking Oil Manufacturers Over Price Hike

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After busting cartels in sugar and cement sectors, the Competition Commission of Pakistan (CCP) is set to punish the most powerful and influential owners of the ghee and cooking oil sector. Top CCP officials told Propakistani that the Competition Commission of Pakistan has issued notices to the ghee and cooking oil manufacturers for collectively increasing …

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New Ordinance on Overseas Pakistanis, Own Money, Electric Vehicles and Super Tax Explained

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In order to promote ease of doing business and digitalization, the Securities and Exchange Commission of Pakistan (SECP) has launched a portal for expeditious bank account opening of newly registered companies. The online portal provides banks real-time access to statutory records of companies, thus enabling them to open corporate accounts without seeking physically certified copies …

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New Ordinance on Overseas Pakistanis, Own Money, Electric Vehicles and Super Tax Explained

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The government has promulgated Tax Laws Amendment Ordinance 2021 so as to introduce the following major measures: To facilitate non-resident Pakistanis to open non-resident Pakistani Rupee Value Accounts (NRVAs); Extended 4 percent Super Tax on banks indefinitely beyond the tax year 2021; Imposed withholding tax (Rs. 50,000-Rs. 200,000) on persons who sell locally manufactured vehicles …

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