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New rules spark slump in Pakistan real estate market

KARACHI: The federal budget 2016-17 and an amendment to the Income Tax Ordinance 2001 have begun to impact the real estate sector.

Pakistan’s real estate market has witnessed bullish trend for last four years and a drastic price hike in the last one year. Estate agents believe that after the budget announcement 2016-17 and the amendment, the scenario has changed and the market is cooling down.Read More »New rules spark slump in Pakistan real estate market

Pakistani car sales rise to 167,507 units

KARACHI: Sales of locally produced cars swelled to 167,507 units in July-May 2015-2016 as compared to 136,723 units in the same period of last fiscal year.

Low interest rate, improving law and order situation and overall improvement in country’s economic situation can be attributed to rising sales of cars, said Mohammad Tahir Saeed at Top Line Securities.

Toyota Corolla, with longest delivery time, continued to be the highest selling car with the sale of 53,410 units as compared to 46,680 units last year.

Combined sale of Honda Civic and City remained weak, far lower than Corolla, and stood at 23,800 as compared to 21,134 units, revealed figures released by Pakistan Automotive Manufacturers Association (Pama).Read More »Pakistani car sales rise to 167,507 units

Remittances growth slows to 5.6pc

Overseas Pakistanis sent home remittances worth $17.841 billion during July-May 2015-16, reflecting a year-on-year growth of 5.6 per cent, the State Bank of Pakistan (SBP) said on Friday.

Remittances stood at $16.898bn during the same period of the preceding fiscal year.

However, this year’s growth rate was much lower than the 17.9pc recorded in the 11-month period of 2014-15.

Remittances are expected to touch $19bn during the outgoing fiscal year, with the addition of another $1bn this month.

The country’s dependence on Arab countries for remittances has further increased this year. Of the total, about $11.505bn (64.5pc) was remitted from the region.

The region is the biggest importer of manpower from Pakistan but the trade with the region is highly imbalanced and is vastly in favour of Arab countries.

The 11-month remittances were higher than the foreign exchange reserves held by the SBP built on borrowing from international financial institution (IFIs) and raising dollars through selling of bonds in the international market.Read More »Remittances growth slows to 5.6pc

WHY THEN ATTEST?

Muhammad Javed

 

This 68 years old acute diabetic patient surrounded by different old age worries could not control his abrupt and spontaneous burst of laughter. Reading  a few minutes back when surfing the net he came across a PDF “Handbook for Overseas Pakistanis” on the websites both of the Honourable Federal Ombudsman and the Ministry of Foreign Affairs.  The Handbook highlights, proudly, how showing the affection for Overseas Pakistanis the Federal Ombudsman had advised the Foreign Office (in addition to Higher Education) for early attestation of documents submitted by Overseas Pakistanis for the purpose.

Read More »WHY THEN ATTEST?

INDIAN CRUELTIES IN KASHMIR

ALI SUKHANVER

According to a recent report, an estimated 68,000 people have died in the fighting and ensuing crackdown by Indian forces till now. Resentment over Indian rule in the disputed region is now mostly expressed through street protests. The people of Kashmir have to face a new kind of atrocity at the hands of the Indian security forces every day but the cruelest one is the disgrace of Kashmiri women. Dr Anjana Chatterjee is a Kolkata based activist and anthropologist. While speaking at a seminar ‘Experience of Detainees’ in Srinagar, Chatterjee referred to a Human Rights Watch report, ‘Disgracing of women is being used as a war weapon by the Indian Army to punish Kashmiris for their demand of right to self-determination, 7000 Kashmiri women have yet been gang raped in homes, streets and army camps by Indian troops in occupied Kashmir.’ This situation calls for sincere attention and efforts of the international forces who claim to be the care-takers of the suffering humanity throughout the world.Read More »INDIAN CRUELTIES IN KASHMIR

MILITANTS IN INDIA

ALI SUKHANVER

On 27th July 2015, The Washington Post published a report regarding the gun-battle between the Indian security forces and the so-called militants in Gurdaspur, a border town in Indian Punjab. The report was prepared by Ashok Sharma, an Indian journalist. According to the details the militants first attacked a moving bus and then stormed into a police station. The incident took lives of more than ten innocent people including four policemen. This fight Read More »MILITANTS IN INDIA