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OICCI calls for abolishing Rs5,000 notes

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A dealer counts banknotes of Rs5000 at a currency market in Pakistan. — AFP/File

The Overseas Investors Chamber of Commerce (OICCI) has called for a ban on Rs5,000 banknotes to prevent currency circulation, in its recommendations ahead of the budget 2024-25. 

This was one of the recommendations given by the body to the government ahead of the upcoming budget. The government intends to present the budget for fiscal year 2024-25 on June 7, but an official date is yet to be issued.

The OICCI, a body comprising of 200 multinational companies that represents foreign investors, has also suggested making the national tax number (NTN) mandatory for bank accounts, sale and purchase of the cars, sale of expensive properties, those undertaking foreign travels or acquiring memberships in different clubs.

Moreover, OICCI suggested setting up a Federal Board of Revenue (FBR) wing for investigation of assets and sources of income that do not fall in line with the requirements of non-filers, and abolition of exemption given to the pensioners.

The OICCI also suggested collection of income tax on all air tickets and imposition of withholding taxes on hoteling travel expenses.

It may be noted that calls for discontinuing the Rs5,000 banknote have been made in the past as a Pakistan Tehreek-e-Insaf (PTI) senator, Mohsin Aziz had tabled a resolution in the Upper House of Parliament seeking ban on the highest denomination of Pakistani currency to end the “corruption and rein in inflation”, last year.

Earlier in September 2023, former FBR chief Shabbar Zaidi insisted that the discontinuation of Rs5,000 notes and curbs on the physical movement of dollars was key to curbing the cash economy in the country.

Zaidi was of the view that currency circulation was very high in Pakistan and the Rs5,000 note provides convenience in the cash economy, adding that people have kept wealth in their lockers in dollars and Rs5,000 notes, which should be banned.

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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Pakistan

Gold prices reach historic high in Pakistan – Pakistan Observer

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