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Karachi’s several areas to face gas suspension today

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  • Gas pipeline damaged in Clifton area. 
  • Pipeline was serving several localities around Clifton.
  • Areas include different blocks, phases in Clifton, Gizri etc.

KARACHI: The Sui Southern Gas Company (SSGC) on Wednesday said that the gas supply will be affected in several areas of Karachi after a gas pipeline located in Bath Island and Clifton got damaged today. 

“A 16-inch dia[meter] gas pipeline located in Bath Island, Clifton got damaged/ruptured today. SSGC had to reduce/stop gas pressure in this pipeline, serving a number of localities around the Clifton area,” wrote the gas supply company on its X account. 

The company said that the gas supply in different blocks and phases in Clifton, Gizri, Defence Housing Authority (DHA), Gizri, Punjab Colony, Delhi Colony, Old City area, Mai Kolachi and surrounding areas, Bath Island, Sultanabad, Ziauddin Hospital, Dolmen Mall, Movenpick, Mariott and PC hotels will be affected. 

It said the SSGC’s teams are on site to complete maintenance work by tomorrow morning “so that the gas supply is resumed at the earliest”.

While the repair work is on, residents in the above areas will face supply issues, the company added. 

Last week, the SSGC announced plans to suspend gas supply to parts of Karachi. 

In a statement, the gas supply company said that it would be carrying out a gas distribution infrastructure development task on December 24 (Sunday), which would result in the suspension of gas to some parts.

The company elaborated that to carry out this “indispensable” task, the gas supply will remain suspended in Korangi’s industrial and residential areas from 9am to 8pm.

At the same time, for around 13 hours, gas will also remain suspended in parts of the Defence Housing Authority — one of the posh areas of the bustling metropolis.

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The total amount of Pakistan’s liquid foreign reserves is $15.95 billion.

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As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.

Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.

Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.

The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.

Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.

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In January 2025, RDA inflows reach 9.564 billion USD.

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Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

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FBR lowers Karachi’s built-up structure property valuation rates

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A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.

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