Business

Flash Floods in Tripura: 10 Dead, Thousands Displaced
Business

Flash Floods in Tripura: 10 Dead, Thousands Displaced

Ten people have lost their lives due to the massive floods in Tripura, including a 12-year-old girl. Over 34,000 people have been forced to leave their homes and live in relief camps. The flood situation worsens, with heavy rainfall continuing and rivers overflowing. The floods affect multiple states in northeast India, including Tripura, Assam, Meghalaya, and Sikkim. Tripura, a state in northeastern India, is facing one of its worst flood situations in decades due to relentless heavy rains. The floods in Tripura, which began earlier this week, have claimed the lives of 10 people, including a 12-year-old girl. The most affected areas are in South Tripura, Gomati, and Khowai districts. More than 34,000 people have been forced to leave their homes. Over 6,600 families taking refuge in...
Australia Greenlights the World’s Largest Solar Hub
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
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
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
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...