In another positive development, the United States has assured Pakistan that it will soften its travel advisory, enabling Islamabad to attract foreign investors. Adviser to PM on Commerce Abdul Razak Dawood while talking to media said US was going to soften the travel advisory. Removal of travel advisory would mean both countries can engage in business activities.
The US State Department has announced on its Twitter account that Trump administration is ready to approve $125 million for Pakistan to provide technical support to its fleet of F-16 aircraft. The programme has been sent to Congress for approval after being given a go-ahead by State Department. The good news comes immediately after PM Imran Khan’s visit to USA.
Internet and broadband services prices are about to reach a new high in Sindh, after the provincial government has decided to slap sales tax on the services. Effective from July 1, the exemption of sales tax has been withdrawn and all internet and broadband customers, irrespective of their speed or charges, will pay sales tax at the statutory rate of 19.5%.
The ambassador of United Arab Emirates (UAE), Hamad Obaid Alzaabi has revealed that the UAE Consulate will open a visa centre in Karachi this September. Opening first week of September, the visa centre will be UAE’s biggest facility in Asia. Similarly, another visa centre in Islamabad will be functional in October. The entire team for the centre would come from UAE.
Reko Diq mines, known for their enormous reserves of gold and copper are believed to have the world’s fifth largest gold deposit in them. The news of the treasures this mine holds is not new, as gold diggers have been attempting to explore it since 1992. It was not until 2000, that the Tethyan Copper Company made its way into Pakistani market.
Honda Atlas Cars Pakistan (HACP) has decided to shut down its plant for 10 days as its inventories piled up to 2,000 units on plummeting car sales amid rising prices due to imposition of new, higher taxes in budget and steep currency devaluation in recent weeks. Extremely low car sales during first week of July has prompted the company’s decision.
To give relief to the retailers, the Senate Standing Committee on National Health Services directed the Ministry to amend the law for relaxing ban on ‘Sheesha’ smoking in the country. After issuing the directive, Senator Ateeq Sheikh remarked that Sheesha is widely smoked everywhere in the world, and even after the ban people in Pakistan are still smoking at home.
Prime Minister Imran Khan has been extended an invite by Russia President Vladimir Putin to attend an economic conference in Vladivostok. The Eastern Economic Forum is scheduled to be held from September 4 to September 6 in Russia’s far eastern city. The EEF serves as a platform for the discussion of key issues in world economy and regional integration.
Pakistan Telecommunication Authority (PTA) and the FBR in a collaboration to curb smuggling of mobile phones have decided to reduce taxes on imported mobile phones to almost half. However, if international travelers fail to register their phones within a time frame of 60 days, they will have to pay an extra 10 percent fine with the tax.
In a survey carried out by Mercerl, Islamabad and Karachi have been rated among least expensive metropolitans in the world. The survey is based on the cost of over 200 items in each city – including housing, transport, food, clothing, household goods, and entertainment. Islamabad has been listed 203rd in the list of most expensive cities, while Karachi stands on 207.