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Over 10 million people in Pakistan at risk of poverty amid high inflation, low growth: World Bank – Pakistan Observer

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Over 10 million people are at risk of falling into poverty in Pakistan due to high inflation and low economic growth.

World Bank’s biannual Pakistan Development Outlook report revealed that poverty alleviation efforts were insufficient in the country facing serious challenges of foreign reserves, high inflation, low GDP growth and food insecurity.

‘Pakistan’s GDP growth is projected to be 1.8 per cent and inflation is 26 per cent. Approximately 98 million Pakistanis are already below poverty line while 10 million more at risk of slipping into poverty due to high inflation and limited wage growth in construction, trade, and transportation’, reveals the report.

Pakistan’s foreign reserves will remain as low as 1.3 months of total imports despite successful completion of the International Monetary Fund (IMF) Stand-By Arrangement (SBA) and continued rollovers by friendly states. Pakistan will continue to face liquidity issues in the medium term due to trade deficit and limited access to external financing, says the report.

“In the absence of major and sustained economic reforms, Pakistan is expected to continue to face foreign exchange liquidity issues due to the trade deficit and limited access to external financing,” the report says.

Inflation will remain on the higher side due to higher domestic energy prices. Consumer price inflation is projected to remain elevated at 26pc in FY24.

“The increase in prices is driven by domestic gas, electricity, and fuel tariff adjustments resulting in significant increase in domestic energy prices,” the report says.

“Growth in private consumption is projected to decline to 1.7pc in FY24, due to decrease in real incomes because of high inflation and import management measures.”

However, inflation will gradually moderate in FY25–26 due to a high base effect and as global commodity prices ease. The current account deficit (CAD) is expected to remain low due to import management measures.

“The CAD is expected to remain low at 0.7pc of GDP in FY24 and to further narrow to 0.6pc of GDP in FY25 and FY26,” the report further says.

Pakistan

Honda CD70 Dream Latest Price, Installment Plans – Sep 2024 Update – Pakistan Observer

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Honda remains leader in bikes market, with its top-selling units like CD 70, and that’s without making any major changes as the entry-level bikes look almost same for a long time. As the CD-70 remains its most selling model, bikes like the CD-70 Dream and Pridor are considered a niche products.

Despite failing to achieve top sales, CD 70 Dream is still in the market, featuring air-cooled, 4-stroke engine that delivers smooth performance and impressive fuel economy, often averaging around 60-70 km/l, making it ideal for daily commuting.

The bike looks better with stylish and modern design with attractive graphics, as compared to simple CD70. People also like its comfort as built quality remains optimum, comparing to other players.

Its pricing makes it accessible to a wide audience, including students and working professionals, solidifying its status as a favorite among motorcycle enthusiasts in Pakistan.

As bikes prices remain out of hands, people are having hard time to upgrade their ride while companies also face low sales.

Honda CD 70 Dream Price

The price of Honda CD70 Dream is Rs168,900 in September 2024.

Honda CD 70 Dream Installments

Installment Plans Monthly Payments 
3 months Rs56,300
6 months Rs28,300
9 months Rs21,890
12 months Rs17,200
24 months Rs10,170
36 months Rs7,800

 

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Check Property Ownership in Lahore, other Punjab cities Online – Pakistan Observer

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If you live in Lahore or any other city in Punjab; you might have faced difficulties in getting land record in previous years, but now the government made the land verification process smooth with digitization.

To curb the menace of land mafia and to help residents of Punjab, the government rolled out a systematic process and also eased the process of property transfers and real estate transactions.

A new verification system is Live by provincial authorities to check the legitimacy of properties available for purchase or investment across the region of 110 million people.

The relevant authority in this regard is Punjab Land Record Authority which oversees management and maintenance of land records. You can get different services, including ability to search for and view land records, as well as request copies of documents.

Check Property Ownership Online 2024

Here’s Step by Step Guide To Check property ownership

Step 1: Please visit PLRA portal at Punjab-zameen.gov.pk.

Step 2: Find ‘Property Registration,’ on home and click on https://rodportal.punjab-zameen.gov.pk/.

Step 3: It will ask you to select your district and service center.

Step 4: You can search by different options including Bahi number, ID card, registration number, or by person name.

Step 5: After entering details, please advance to ‘Search’ to get the land ownership.

With latest updates, you can check data on number of property transfers in last 36 months.

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Suzuki Bolan discontinued in Pakistan after 36 years; Here’s replacement for ‘Carry Dabba’ – Pakistan Observer

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LAHORE – Finally, it’s time to say goodbye to the iconic Suzuki Bolan as Pak Suzuki pulled plugs to replace the minivan with another model. Over the last 3.5 decades, Suzuki Bolan enjoyed decent sales and was valued for its flexibility, serving a multi-passenger vehicle and for commercial purposes.

Amid shift in auto landscape in Pakistan, Bolan becomes latest drive to be discontinued after Suzuki Mehran, which you can still spot.

Pictures of Suzuki Bolan’s last batch surfaced online, and Pakistanis hit nostalgia as many grew up in this vehicle. The final chassis number marked as 01151691. The country’s oldest automaker and maker of Bolan also confirmed discontinuation of the 800cc Carry Dabba.

The company decided to replace Bolan for its outdated design and lack of safety features. Amid its low sales, consumer demand for a modern replacement like Changan Karvaan increased.

Suzuki Every to Replace Bolan

Suzuki earlier mentioned that Every will replace Bolan, and one of its recent model was unveiled at a recent auto show.

The launch of Every models faced delays due to import challenges and it is expected to launch in mid October.

Suzuki Bolan Price in Pakistan

 

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Gold prices reach historic high in Pakistan – Pakistan Observer

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