Sindh govt with Dewan Group to Introduce 500 Electric Taxis
Special Assistant to Chief Minister of Sindh for Investment and Public-Private Partnership, Syed Qasim Naveed Qamar, met Dewan Muhammad Yousuf Farooqui, the head of Dewan Group, to discuss the ambitious project. During the meeting, Dewan Farooqui highlighted that Dewan Group is working on a project to introduce 500 electric taxis across Sindh, with an estimated cost of Rs.2.5 billion.
Mehfooz
Bank Alfalah Secures Qist Bazaar’s Growth with Rs.55 Million Equity and Rs.460 Million Credit Line
Bank Alfalah, one of Pakistan’s leading financial institutions, has reinforced its commitment to financial inclusion by increasing its investment in Qist Bazaar, Pakistan’s rapidly growing buy-now-pay-later (BNPL) platform catering to essential purchases of people with minimal and easy instalments.
HBL Microfinance Bank and IFC Finalize $80 Million Risk Sharing Agreement
HBL Microfinance Bank (HBL MfB) has signed a US$ 80 million Risk Sharing Agreement (RSA or the facility) with the International Finance Corporation (IFC), a member of the World Bank Group.
FBR to Enhance Monitoring of Bank Transactions Exceeding Declared Income
The Federal Board of Revenue (FBR) has announced plans to closely monitor bank transactions that exceed individuals’ declared income to strengthen tax compliance and curb financial irregularities.
Over 100 Pakistani IT Companies Participating in LEAP 2025
Pakistani IT companies are aggressively exploring new and emerging tech markets particularly the Kingdom of Saudi Arabia (KSA), as more than 100 firms providing IT and IT-enabled services are participating in LEAP 2025, one of the world’s major tech trade fairs, being held in Riyadh, Saudi Arabia.
Spotify Reports Q4 2024 Earnings
Spotify released its Q4 2024 earnings, closing Q4 stronger than ever by outperforming across key metrics and celebrating the first full year of profitability.
Pakistan and Türkiye Discuss Collaborative Initiatives in IT, 5G, and AI
Minister of State for Information Technology and Telecommunication Shaza Fatima Khawaja and Türkiye’s Ambassador to Pakistan, Irfan Neziroglu discussed avenues for collaboration in information technology, 5G, and artificial intelligence (AI).
FPCCI Backs New Tax Incentives to Boost Real Estate Sector
Mr. Atif Ikram Sheikh, President FPCCI, has appreciated the proposed tax measures to facilitate investments into real estate and construction sectors by the general public as 4 percent tax rate on sale and purchase of property has been a major obstacle in the development and commercial activities.
Mobile Phone Import Value Falls 7.46% to $733.425 Million Over Six Months
The import of mobile phones into the country has witnessed a decrease of 7.46 percent during the first six months of the current fiscal year (2024-25) as compared to the corresponding months of last year.
Task Force Suggests Scrapping CVT and Section 7E to Revive Real Estate Sector
The Task Force for the development of the housing sector has recommended abolishing Section 7E of the Income Tax Ordinance and Capital Value Tax (CVT) in Islamabad. Additionally, they propose reducing transaction taxes on the buying and selling of immovable properties.