Tag: heavy

Telecom sector concerned over heavy taxes on services

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article image STAFF REPORT ISB: The SDPI’s Study Group on Information Technology and Telecommunication has said that Rs. 40 billion annual withholding tax on telecom consumers has caused the diversion of Foreign Direct Investment to other regional countries. Speaking on the occasion, Vice-President of Telenor Aslam Hayat said that withholding tax is imposed on those consumers, who either do not fall in the tax bracket or do not file tax returns and ultimately cannot get refunds. He revealed that…Read More

AutoGenie startup bags heavy funding from PakWheels

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article image STAFF REPORT LHR: AutoGenie which is PlanX (tech accelerator of Punjab Information Technology Board) based startup has successfully captured whoopie $100,000 funding from Pakistan’s most popular vehicles portal PakWheels.com. AutoGenie is an auto support entryway intended to help individuals in keeping up and repairing their vehicles from the solace of home. Their mechanics make house calls and just deal in genuine parts, taking out the 2 billion dollar misfortune that is generally…Read More

AutoGenie startup bags heavy funding from PakWheels

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article image STAFF REPORT LHR: AutoGenie which is PlanX (tech accelerator of Punjab Information Technology Board) based startup has successfully captured whoopy $100,000 funding from Pakistan's most popular vehicles portal PakWheels.com. AutoGenie is an auto support entryway intended to help individuals in keeping up and repairing their vehicles from the solace of home. Their mechanics make house calls and just deal in genuine parts, taking out the 2 billion dollar misfortune that is generally…Read More

Heavy Electrical Complex sold to kenya based company

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article image Staff Report ISB: Heavy Electrical Complex was sold to M/s Cargill Holdings Limited, a Kenya based company, for Rs. 1.34 billion by Privatization Commission (PC) of Pakistan this Saturday. Earlier, the sale of Heavy Electrical Complex was approved by the Cabinet Committee of Pakistan (CCoP) which was headed by Finance Minister, Ishaq Dar. The documents of the bidder M/s Cargill Holdings Limited were duly verified last month Earnest money of Rs. 25 million was only submitted by one…Read More

Heavy Electrical Complex sold to Kenya based company

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article image Staff Report ISD: Heavy Electrical Complex was sold to M/s Cargill Holdings Limited, a Kenya based company, for Rs. 1.34 billion by Privatization Commission (PC) of Pakistan this satruday. Earlier, the sale of Heavy Electrical Complex was approved by the Cabinet Committee of Pakistan (CCoP) which was headed by Finance Minister, Ishaq Dar. The documents of the bidder M/s Cargill Holdings Limited were duly verified last month Earnest money of Rs. 25 million was only submitted by one company…Read More

Forest deficiency still a problem despite heavy saplings

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article image STAFF REPORT ISB: Pakistan is a forest-deficient country and only 5.2 per cent of the area is covered with forests. Although millions of saplings have been planted in the twin cities of Rawalpindi and Islamabad this year, the country is still far from achieving an optimal percentage of its land covered by forests. "The sapling needs care which can be provided with water and fertilizers," said a teacher at the Arid Agriculture University’s Department of Environmental Science…Read More

Cotton crop target goes down after heavy rains

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article image STAFF REPORT MULTAN: Unexpected rains in May have destroyed the cultivated cotton besides reducing the wheat procurement target by 30 per cent. Experts say that climatic changes and discouraging agriculture policies are the reasons behind reduction in the wheat procurement and decline in cotton sowing by 1.7 million acres in southern Punjab. They said that growers are reluctant to go for re-sowing due to high expenditures and poor output. "The heavy rainfall is not only the…Read More

Heavy rains changing patterns for growers

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article image STAFF REPORT IBD: Pakistan is experiencing the worst effects of climate change as evident from longer spells of heavy rains and devastating floods for the fourth consecutive year. These threats include serious threats to agriculture and water resources and, in fact, the country’s economic fabric. Since 2010, monsoon rains and floods have been more ferocious than before, leaving the rural infrastructure and, above all, agricultural economy in a disarray. To save agriculture which is…Read More

SSUET students develop robot to lift heavy luggage

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STAFF REPORT KHI: Students of Sir Syed University of Engineering and Technology have developed an automatic robot which can take luggage up and down, left to right, work and guard with the rope.According to details, the robot named "Rope Climbing Surveillance" operates automatically or with the help of remote. It can also work according to the information fed to him. It has the ability to take heavy luggage to the highest and can bring it back.The camera which is fixed on the robot can…Read More

Telecom sector to remain heavy tax payer

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article image STAFF REPORT KHI: Telecommunications is amongst the most heavily-taxed sectors in Pakistan. The telecom operators have long been lobbying the government for a reduction in the GST rate of 19.5 per cent, which is collected in FED mode. The federal budget for next fiscal year did offer tax relief to a number of sectors and industries, but the telecom subscribers seem to be left out again for any respite.According to a market expert, the telecom subscribers lose nearly a third of their pre-paid…Read More