Business Archives - Page 10 of 37

Australia Greenlights the World’s Largest Solar Hub

23Aug

By Aqsa AzamNo Comments

Business

Australia Greenlights the World’s Largest Solar Hub

Australia is planning to build the world's largest solar hub and battery farm. SunCable, the project, will cost an estimated $24 billion and generate enough clean energy to power three million homes in Australia. Additionally, the project will export excess energy to Singapore via an undersea cable, supplying about 15% of the city-state's electricity needs. Australia has given the green light to the world's largest solar hub and battery farm. This project is set to become the largest solar energy project in the world. The project, spearheaded by the SunCable company, is backed by tech billionaire and green energy advocate Mike Cannon-Brookes. Moreover, it will cost around $24 billion and aims to generate enough electricity to power three million homes. The solar farm will be located...

Government Considers Income Tax Relief for Salaried Workers

3Aug

By Tahreem AkramNo Comments

Business, Pakistan

Government Considers Income Tax Relief for Salaried Workers

In response to economic challenges, the federal government is looking into providing income tax relief for salaried individuals. Prime Minister Shehbaz Sharif has directed his economic team to explore options for financial assistance. Sources from the Ministry of Finance reveal that the government is considering a relief package worth Rs 40 billion. This package would benefit individuals earning up to Rs 100,000 per month. The goal is to offer support to those in lower salary brackets who are facing increasing economic pressures. Before finalizing any decisions, the government plans to consult with the International Monetary Fund (IMF) to ensure that the relief package aligns with existing financial agreements. The proposed relief would not come from the annual budget but would be f...

Pakistan Unveils Rs5 Million Support Package for Families of Missing Persons

3Aug

By Tahreem AkramNo Comments

Business, Pakistan

Pakistan Unveils Rs5 Million Support Package for Families of Missing Persons

The government of Pakistan has announced a significant financial assistance package for the families of missing persons. Each affected family will receive Rs5 million as part of this initiative. This decision, made by the cabinet, aims to support families who have been suffering for more than five years due to the disappearance of their loved ones. Government sources clarified that this financial assistance is not compensation but a rehabilitation grant to help families cope with their losses. They stressed that they are taking every possible step to address the issue of missing persons, resolving 78% of cases in recent years. They are continuing efforts to solve the remaining 22% of cases, and all state institutions are implementing strict measures. The sources emphasized that the ...

Govt Likely to Cut Petrol Price by Rs5.50 per Litre from Aug 1

3Aug

By Tahreem Akram1 Comment

Business, Pakistan

Govt Likely to Cut Petrol Price by Rs5.50 per Litre from Aug 1

Starting August 1, 2024, the Pakistani government is planning to reduce the prices of petrol, diesel, kerosene oil, and high speed diesel (HSD) in a bid to provide relief to consumers. Sources from government and industrial sectors anticipate that the price of petrol will decrease by Rs5.50 per litre, bringing the new price to Rs270.10 per litre. Similarly, diesel prices are likely to see a significant drop of Rs11.06 per litre. The government expects kerosene oil, widely used across the country, to become more affordable with a projected reduction of Rs5.84 per litre. Meanwhile, the price of High Speed Diesel (HSD) could decrease by Rs11.06 per litre, making it more accessible for various industries reliant on diesel fuel. Global Factors Lower Petrol Prices This decision comes a...

RDA Seals 18 Educational Institutions For Violating Rules

2Aug

By Aqsa Azam1 Comment

Business, Pakistan

RDA Seals 18 Educational Institutions For Violating Rules

The Rawalpindi Development Authority (RDA) has taken strict action against 18 educational institutions in the city. Moreover, the RDA sealed these institutions for violating building regulations by engaging in unauthorized construction and failing to pay commercial status fees. The Rawalpindi Development Authority (RDA) recently sealed 18 educational institutions that are privately owned for not following the rules. The RDA Enforcement Squad, with the help of local police, targeted unauthorized buildings. Meanwhile, the operation focused on areas like the Asghar Mall Housing Scheme, Eidgah Scheme, and Dosehra Ground Scheme. The enforcement action targeted establishments operating without proper approvals and No Objection Certificates (NOCs). In addition, authorities found that thes...