Meezan Announces Installment Plan for Electric Bikes

The crippling fuel price inflation in the past year has prompted motorists to consider electric bikes as a possible alternative.Realizing the opportunity, Meezan Bank has launched an installment plan for electric bikes (e-Bikes). The offer seeks to co…

The crippling fuel price inflation in the past year has prompted motorists to consider electric bikes as a possible alternative.

Realizing the opportunity, Meezan Bank has launched an installment plan for electric bikes (e-Bikes). The offer seeks to compete with those of other bike makers and is available on all bikes, both petrol-powered and electric.

The service entails the following benefits and conditions:

Only available to Meezan Bank debit and credit card holders.

Financing period of up to two years.

Downpayment: Minimum 15% of the cost of the vehicle and a maximum of 50% of the bike’s price.

Monthly installments as low as Rs. 7,461.

Rs. 1,800 non-refundable processing fee.

Immediate ownership transfer.

Other bike makers such as Atlas Honda, Yamaha, and Suzuki have also launched installment plans exclusive to their bikes. Although, the inflated fuel and bike prices have taken a toll on their sales in the last few months.

E-bikes are starting to gradually catch on among Pakistanis, albeit with the realization that petrol-powered bikes are still better when it comes to longer journeys.

Source: Pro Pakistani

Shop Owners and Traders Will Not Follow Government’s Energy Saving Plan

All Pakistan Traders Association (APTA) has opposed the government’s decision to close markets and commercial centers by 8 pm starting from 1 July as a measure to conserve energy, as announced by the Planning and Development Minister, Ahsan Iqbal in a…

All Pakistan Traders Association (APTA) has opposed the government’s decision to close markets and commercial centers by 8 pm starting from 1 July as a measure to conserve energy, as announced by the Planning and Development Minister, Ahsan Iqbal in a press conference in Islamabad on Tuesday.

The decision was made during a meeting of the National Economic Council (NEC), chaired by the Prime Minister (PM), Shehbaz Sharif, where estimated budget figures were also approved.

The plan encompassed several measures, such as closing markets at 8:30 pm and wedding halls at 10 pm, promoting the use of efficient electronic appliances, reducing power consumption in government offices by 40 percent, imposing additional duties on inefficient electric fans, adopting LED bulbs, introducing electric bikes, phasing out petrol-run motorcycles, and reducing street lighting capacity to 50 percent.

The PM’s Office (PMO) wants to ensure provincial governments’ involvement in implementing the National Energy Conservation Plan. They highlighted the potential reduction in the country’s fuel import bill by over 10-15 percent or Rs. 1 billion in a short period.

Minister Iqbal expressed hope that provincial governments would ensure the implementation of the approved energy conservation package, which could potentially save the country up to $1 billion annually.

In response to the decision, APTA President Ajmal Baloch suggested that the government should reconsider its plan to close shops by 8 pm. He asserted that the shops would not be closed so early during the summer season. Baloch emphasized the importance of the energy minister engaging in dialogue with traders to effectively address this matter.

According to Atiq Mir, a Karachi trader’s leader, the decision would not be successful. Mir criticized the decision as unilateral, asserting that traders were not consulted, and highlighted the negative impact it would have on the business community.

He also raised concerns about the performance of power companies, which have not shown improvement over the years, further pointing out that previous decisions to close businesses early had not yielded any positive outcomes.

Source: Pro Pakistani

Govt to Tax Industrial Units Located in Ex-FATA Region From July 1

The government has decided to impose taxes on the industrial units of iron/steel, plastics, ghee, textile, and other sectors located in the erstwhile Federally Administered Tribal Areas/Provincially Administered Tribal Areas from July 1, 2023.The taxa…

The government has decided to impose taxes on the industrial units of iron/steel, plastics, ghee, textile, and other sectors located in the erstwhile Federally Administered Tribal Areas/Provincially Administered Tribal Areas from July 1, 2023.

The taxation measure would be taken through the Finance Bill 2023 which will not issue exemptions to be expired on June 30, 2023. Thus, the withdrawal of the exemption would have a positive impact on the revenue collection of the FBR in 2023-24.

The sales tax exemption would also expire on the supplies of electricity from June 30, 2023, to all residential and commercial consumers in tribal areas except steel and ghee or cooking oil industries.

At the time of the merger of the erstwhile Federally Administered Tribal Areas/ Provincially Administered Tribal Areas in Khyber-Pakhtunkhwa in 2018, tax exemptions had been granted to these areas for five years up to June 30, 2023. Currently, several industrial units located in these areas are manufacturing different goods including iron and steel, plastic, ghee, textile, etc.

It allowed the use of non-customs paid vehicles in erstwhile FATA/ PATA for a period of five years ending on June 30, 2023. However, these vehicles would not be allowed to cross over to other areas of the country. On the expiry of the five years relaxation period (June 30, 2023), the vehicles would be regularised on payment of leviable duty and taxes.

These units import raw materials through the seaport in Karachi without payment of sales tax and income tax. However, these units are required to sell the finished goods only in the newly-merged districts of erstwhile Fata/ Pata and not in the tariff areas/ other districts of the province or in other provinces.

Source: Pro Pakistani

Middle East, strategic economic partner of Pakistan: Ahsan

Minister for Planning and Development Ahsan Iqbal has said there are vast opportunities of cooperation between Pakistan and the Middle Eastern countries in diverse areas.Addressing a conference in Islamabad on Wednesday, he said Pakistan can modernize…

Minister for Planning and Development Ahsan Iqbal has said there are vast opportunities of cooperation between Pakistan and the Middle Eastern countries in diverse areas.

Addressing a conference in Islamabad on Wednesday, he said Pakistan can modernize its agriculture sector by attracting a sizeable investment from the Middle Eastern countries.

He said we have to create a Green Revolution 2.0 in the country where we not only fulfill our domestic food requirements but also export the agriculture products.

Ahsan Iqbal said there is also a great scope of cooperation in the areas of IT, energy, mining, and tourism and skills development.

The Minister for Planning said Middle East is a strategic economic partner of Pakistan. He said countries in the Gulf Cooperation Council have always stood by Pakistan in difficult times and proved to be a reliable partner.

Alluding to the recent developments in the Middle East especially the joining of SCO by Saudi Arabia and the role played by China in KSA-Iran rapprochement, the Minister for Planning and Development said that according to an estimate, trade between the GCC and the emerging Asian nations will increase to over six hundred billion dollars by 2030.

He said since Pakistan has a close relationship with all these countries, there are opportunties for the country to align itself with these changes.

Source: Radio Pakistan

FM, Governor Karbala discuss Pak-Iraq issues of mutual interest

Foreign Minister Bilawal Bhuttho Zardari called on Governor of Holy Karbala Nssaif Jassem Al-Khattabi in Baghdad on Wednesday.According to foreign office, they discussed issues of mutual interest during the meeting.Both the leaders discussed ways to f…

Foreign Minister Bilawal Bhuttho Zardari called on Governor of Holy Karbala Nssaif Jassem Al-Khattabi in Baghdad on Wednesday.

According to foreign office, they discussed issues of mutual interest during the meeting.

Both the leaders discussed ways to facilitate Pakistani Zaireen during pilgrimage as well as ways to enhance collaboration in all areas of mutual interest.

Source: Radio Pakistan

Curbing spread of polio virus, our resolve: Qadir Patel

Minister for National Health Services Abdul Qadir Patel says curbing the spread of poliovirus is our resolution for this year and Pakistan is well ahead on the path of complete elimination of the disease.Talking to media in Islamabad on Wednesday, he …

Minister for National Health Services Abdul Qadir Patel says curbing the spread of poliovirus is our resolution for this year and Pakistan is well ahead on the path of complete elimination of the disease.

Talking to media in Islamabad on Wednesday, he said due to strenuous efforts of the government cooperation of the partners and donors, poliovirus has become limited to some border districts of Khyber Pakhtunkhwa. He said only one case of polio was so far been reported in the current year.

Abdul Qadir Patel expressed the hope that we will soon eliminate the poliovirus from the entire country.

He also thanked the armed forces and other law enforcement agencies, partners, and donors for their cooperation in the fight against the poliovirus.

Source: Radio Pakistan

Chairman Senate reaffirms Pakistan’s resolve to further augment relations with Russia

Chairman Senate Sadiq Sanjrani has underscored the positive momentum in Pakistan-Russia relations and the mutual desire to expand cooperation in various fields, including trade, economy, security, defense, culture, education, and people-to-people cont…

Chairman Senate Sadiq Sanjrani has underscored the positive momentum in Pakistan-Russia relations and the mutual desire to expand cooperation in various fields, including trade, economy, security, defense, culture, education, and people-to-people contacts.

He was addressing members of the Russian Federation Council during the Plenary Session in Moscow on Wednesday.

Emphasizing the historical ties and the prospects of enhancing bilateral relations between Islamabad and Moscow, the Chairman Senate expressed confidence that the evolving global landscape would further strengthen bilateral ties and open new avenues of cooperation. He said Pakistani business community has shown significant interest in expanding trade relations with Russia.

Acknowledging the significance of parliamentary friendship groups in Pakistan and Russia, Chairman Senate appreciated the personal role of Speaker of the Council of the Russian Federation Madam Valentina Matviyenko in revitalizing Pakistan-Russia relations. He called for regular, open, and constructive dialogue between parliaments worldwide to foster a deeper understanding among nations.

He emphasized the vital role of parliamentary cooperation and effective diplomacy in strengthening bilateral relations and resolving regional and international issues. He stressed for a proactive role of the Pakistani parliament in finding innovative solutions to global challenges such as economic recession, pandemics, climate change, Islamophobia, extremism, and transnational terrorism

Besides, Chairman Senate expressed gratitude for President Putin's support in developing Pakistan-Russia relations and acknowledged his mention of Pakistan in the context of trade connectivity. He highlighted the recent inauguration of a commercial shipping service between Pakistan and Russia, which signifies the potential for bilateral investment, economic growth, job creation, and technological advancement.

Sadiq Sanjrani emphasized the shared world view between Pakistan and Russia, emphasizing the UN Charter and adherence to international law as the basis for contemporary international relations. He appreciated President Putin's stance against the desecration of holy personalities and burning of holy books.

He extended a special invitation to Madam Valentina Matviyenko to visit Pakistan. He concluded by reaffirming the commitment to further augment, consolidate, deepen, and broaden the friendship between Pakistan and Russia, paving the way for a more peaceful, prosperous, and interconnected world.

Source: Radio Pakistan

Pakistan, China sign MoU for development of water resources, environmental protection

Pakistan and China have signed a memorandum of understanding for bilateral cooperation in the utilization and sustainable development of water resources and environmental protection.The MoU between Chang Jiang Water Resources Commission and Water and …

Pakistan and China have signed a memorandum of understanding for bilateral cooperation in the utilization and sustainable development of water resources and environmental protection.

The MoU between Chang Jiang Water Resources Commission and Water and Power Development Authority was signed in a ceremony at Pakistan embassy in Beijing.

Pakistan Ambassador to China, Moin Ul Haque and Vice Commissioner of CWRC, Wu Daoxi signed the agreement.

Speaking on the occasion, Ambassador Moin Ul Haque said that the MOU will pave the way for bilateral cooperation in the utilization and sustainable development of water resources and environmental protection.

Source: Radio Pakistan