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The Punjab government is considering a package for individuals who consume up to 300 units of energy.

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Punjab Finance Minister Mujtaba Shujaur Rehman announced on Thursday that the provincial government is developing a package specifically for individuals who use up to 300 units of electricity. This initiative aims to alleviate the financial burden on low-income groups, who have been disproportionately impacted by ongoing inflation.

During an interview with a journalist outside the Punjab Assembly, Shuja stated that the scheme would be included in the upcoming budget for the fiscal year 2024–25.

According to the statement, Chief Minister Maryam Nawaz had already established a committee, and there was potential for the announcement to be made prior to the budget. It was also mentioned that more than 25 million households in Punjab had a power use of 300 units or less.

The provincial minister attributed the repeated increases in gas and electricity tariffs to the federal government, while highlighting that the rise was a consequence of the PTI’s inefficiency during its time in power.

The founder of PTI previously asserted that he would never choose to borrow funds from the IMF and other sources and instead would opt for taking his own life. Mujtaba informed the media that the PTI’s tenure resulted in an increase in the national debt that exceeded the total accumulated debt of Pakistan over a span of 70 years.

He asserted that Punjab’s economic well-being surpassed that of other provinces and pledged to enhance tax revenue. He also acknowledged the efforts of Shehbaz Sharif, the former chief minister, in addressing this matter.

Shuja asserted that the 2024–25 budget, which will be presented in June, will be exceptional. He also stated that the PML-N has made significant progress in generating revenue.

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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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