Karachi: According to the sources, the Foreign Minister, Mr. Bilawal Bhutto, has announced the establishment of weather-resilient places that will benefit the flood victims. The announcement was made at a conference held on November 14, 2022.
The Sindh government has planned to develop weather-resilient houses for flood victims. The initiative taken is a revolutionary step towards confronting climate challenges that might occur in the future. According to the news sources, Mr. Bilawal chaired a meeting on 14th November to evaluate the detrimental effects of the flood caused by heavy rains in Sindh. In that meeting, he also decided to take measures to benefit the flood victims. He stated that with rising heavy rains and climate changes every year, the Sindh government has decided to construct weather-resilient houses that will survive droughts, downpours, storms, floods, and other climate challenges.
The Sindh Chief Minister, Mr. Syed Murad Ali Shah, also attended the meeting and briefed Mr. Bilawal about the current situation of flood damages. The Sindh Chief Minister divulged that almost 1.7 million houses are entirely or partially damaged and need construction or replacement. He also stated that providing shelter to evacuated flood victims is the most initial task to achieve. To establish whether-resilient houses, the Sindh government has gathered funds worth PKR 220 billion from World Bank. Mr. Murad Ali Shah stated that they are going to develop homes for flood victims that will be worth PKR 300 billion.
The No Objection Certificate (NOC) for Faisal Town Phase 2 is in the pre-launch stage and will be authorized soon by the Rawalpindi Development Authority (RDA) by the deadline. Faisal Town Phase II is an exclusively launched project developed by renowned developers named Zedem Developers.
Moreover, this residential society is the 5th successfully launched project by Mr. Abdul Majeed, who is famous in the field of real estate. The housing society offers top-notch amenities developed on international infrastructure standards to live a serene and opulent lifestyle. The residential project is primely located at Thalian Interchange with direct access to M-2 Motorway.
Islamabad: As per the latest news, the government has launched a development initiative whose worth is about Rs. 40 billion for 20 poor, backward districts to implement uplift initiatives in 60 months in 4 provinces of Pakistan.
The expected cost of the project is on a 50/50% basis between the federal and provincial governments. The Planning Minister, Mr. Ahsan Iqbal, who is the head of the Central Development Working Party (CDWP) has approved this project.
The 20 districts were selected based on Multidimensional Poverty Index (MPI) scores. The 20 selected districts are Balochistan’s 11 districts which include Sherani, Kohlu, Jhal Magsi, Barkhan, Killa Abdullah, Zhob, Musakhel, Dera Bugti, Jaffarabad, Ziarat, and Killa Saifullah. Sindh’s 5 districts include Sujawal, Thatta, Tharparkar, Kashmore, and Badin. Khyber Pakhtunkhwa’s 3 districts include Torghar, Shangla, and North Waziristan. Punjab’s 1 district includes Rajanpur.
The uplift initiative in these districts will be in the areas of connectivity through roads, solarisation of off-grid areas, access to broadband services and internet, and improvement of agri-livestock and mineral value-chain, dairy, and fish farming. There will be an investment in skill development and scholarship for students and the setting up of common border markets.
The federal and provincial governments will make sure to do an in-depth assessment of the project to see whether it is going accordingly or not.
The main purpose of this project is to promote growth and equitable development through investments in infrastructure and human capital development in the poorest districts of Pakistan and to contribute to decreasing regional inequality and strengthening national integration and harmony in the country.
The government is taking steps to reduce the percentage of withholding tax in the tax regime. In 2022, the percentage contribution of withholding taxes and indirect taxes was lowered to about 65.8% in the first four months and a down of 67.15% in the same period in the previous year.
During the current year’s budget, maximum provisions were introduced as direct taxes. These amendments were aimed at taxing wealthy people by including provisions like super tax, CVT on foreign assets, rental income on the assets of wealthy people, and higher rates for companies that are getting huge profits, like banks. These provisions alone have a revenue impact of almost Rs. 250 billion.
Lahore: As per the latest updates, the Formula 2 Cars (F2) Race Track will launch in Lahore Smart City. It will bring the feeling of thrill and adrenaline to people who are up for such thrilling races.
This F2 Race Track will attract more people from Lahore who will be a part of this riveting and fascinating sport. F2 Race Track racing or karting is basically road racing modified motorsport with open-wheel, four-wheeled vehicles known as ‘Go Karts”. These karts are usually raced on scaled-down circuits, while some professional races are also held on this racing track.
Lahore Smart City is considered Pakistan’s first smart city developed jointly by Habib Rafique Pvt. Ltd. (HRL) and Future Development Holdings Pvt. Ltd. (FDHL). This housing society offers all the best facilities and amenities that a person requires while searching for a home. The housing venture is an LDA-approved project and is located at a prime location right next to the N-5 National Highway.