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  • FBR imposes 400% tax increase on payments to non-residents via debit and credit cards

    The Federal Board of Revenue (FBR) has taken a significant step to discourage the outflow of foreign exchange reserves by raising the withholding tax (WHT) on payments to non-resident individuals through debit and credit cards. The move aims to curtail the substantial impact of such payments on the country’s foreign exchange reserves.

    The FBR recently issued Circular Number 2 of 2023, which outlines the amendments to the Finance Act 2023. As per the circular, the Finance Act 2022 had introduced section 236Y, subjecting payments to non-residents through debit/credit cards to a 1 per cent withholding tax rate for Active Taxpayer List (ATL) persons and 2 per cent for Non-ATL persons.

    However, considering the considerable foreign exchange outflows resulting from these transactions, the FBR has implemented a drastic increase in withholding tax rates through the Finance Act 2023. According to The News, for ATL persons, the withholding tax rate has been elevated from 1 per cent to 5 per cent, and for Non-ATL persons, it has been raised from 2 per cent to 10 per cent. This means a fourfold increase in tax rates for both categories of taxpayers as well as non-filers.

    According to estimates shared by the State Bank of Pakistan (SBP) with parliamentarians before the 2023-24 budget, monthly payments made through credit cards or debit cards amounted to approximately $70 to $100 million, resulting in an annual outflow of around $1 billion.

    In line with the Finance Bill, the FBR has been granted powers under Section 236Y to levy advance tax on individuals remitting amounts abroad through credit, debit, or prepaid cards. As per the Finance Bill 2022, the proposed advance tax rate on such remittances was set at 1 per cent of the gross amount remitted abroad.

    The implementation of the increased withholding tax is expected to have a considerable impact on curbing unnecessary foreign exchange outflows and strengthening the country’s forex reserves. It also serves as a measure to encourage individuals to transact responsibly and ensure the stability of the country’s economic landscape.

    As the FBR takes these steps to address forex challenges, stakeholders and taxpayers await the outcomes and potential adjustments in the overall economic landscape. The move also highlights the government’s efforts to strike a balance between promoting foreign investments and managing capital outflows to ensure sustainable economic growth in the country.

  • New study reveals more than 50% of marketers are using AI to boost content creation

    New study reveals more than 50% of marketers are using AI to boost content creation

    A comprehensive study conducted by Bynder, a leading digital asset management platform, sheds light on the numerous ways the marketing industry is leveraging AI technology to enhance efficiency in day-to-day tasks and explores the potential for further advancements in this domain.

    The study, which delved deep into Bynder’s customer base, comprising prominent global brands such as Spotify, Puma, and Five Guys, revealed that more than half (55 per cent) of respondents are currently employing AI tools in their content production processes. These AI integrations are primarily focused on automating repetitive and time-consuming tasks, including generating initial draughts (54 per cent), content optimisation (43 per cent), and ensuring correct spelling and grammar (42 per cent), among others.

    The marketing industry has been quick to integrate AI into various daily operations, encompassing brainstorming ideas, drafting engaging social media posts and landing page copy, crafting attention-grabbing headlines, establishing tone of voice guidelines, and conducting research tasks. Additionally, AI has proven valuable in reducing the time spent on laborious SEO activities such as generating meta-descriptions and translations. The most common tasks involving AI in this regard include content re-use (30 per cent), creating tone of voice guidelines (27 per cent), content governance (25 per cent), and translation tasks (25 per cent).

    Looking forward, the study’s respondents emphasised the need for businesses to consider how AI technology can enhance and streamline content production processes rather than simply replacing human input. To add even more value to content operations, the potential applications of AI suggested by respondents include personalising website content based on individual browsing history and preferences, developing chatbots to improve user navigation, and providing content recommendations derived from user behavior and sentiment analysis. Moreover, AI could simplify content creation by generating initial drafts that can later be refined by human teams.

    Respondents noted that training AI to comprehend a company’s intended tone of voice and speaker style could be beneficial. Furthermore, having AI make recommendations or automatically create and update timelines and revision histories could be advantageous from a broader perspective.

    However, while embracing AI technology, marketers emphasised that its primary purpose should be to improve the quality of content rather than solely focus on cost-cutting measures. They stressed the importance of striking the right balance between human expertise and AI capabilities to achieve optimal results.

    Warren Daniels, the CMO of Bynder, expressed satisfaction with how customers and marketers are leveraging AI to drive innovation and efficiency. At Bynder, the focus has been on developing AI and automation capabilities to empower marketers to maximise the value of their creative and editorial content. He emphasised that in today’s competitive landscape, creating exceptional content experiences is crucial for standing out, and responsible adoption of AI technology plays a pivotal role in enabling this.

    However, Daniels cautioned against replacing human creativity with AI. Instead, he advocated for integrating AI into existing processes in a way that frees up time for teams to concentrate on more creative endeavours. The creation of high-quality content demands thorough research, a genuine understanding of a brand’s core messages and tone of voice, and a touch of human empathy. AI should be harnessed in a managed or controlled manner to complement human creativity rather than hinder it.

  • 44 killed, 200 injured in suicide blast at JUI-F workers’ convention

    44 killed, 200 injured in suicide blast at JUI-F workers’ convention

    Almost 44 people have been killed in a suicide in a Jamiat Ulema Islam-Fazl (JUI-F) worker’s convention In Bajaur on Sunday. The caretaker Information Minister, Feroze Jamal Shah Kakakhel, told Geo News that the explosion occurred during a JUI-F leader’s address, resulting in more than 200 injuries.
    According to the district emergency officer, the injured are being transported to Timergara and Peshawar.

    Samiullah, a cameraman for Geo News, is one of the injured and has been taken to the Lower Dir district headquarter hospital as reports emerged that he is reportedly in severe condition.

    Inspector General of Police (IGP) of Khyber Pakhtunkhwa, Akhtar Hayat has confirmed that the first investigation indicated that the attack was a suicide bombing.
    Prime Minister Shehbaz Sharif directed officials to investigate the attack and identify those who are responsible for it.

  • Ye KP mein kya ho raha hai: Mexican woman flies to Pakistan to marry Facebook lover

    Ye KP mein kya ho raha hai: Mexican woman flies to Pakistan to marry Facebook lover

    Rosa, a 49-year-old woman from Mexico, has flown to Khyber Pakhtunkhwa (KP) to marry 18-year-old Izaz Ali, a young man she met on Facebook.

    According to Geo, a police official has confirmed that Rosa arrived in KP on June 17 with complete documentation to marry Ali, a resident of Buner.

    The two have married in a lavish ceremony, with Rosa changing her name to Ayesha after embracing Islam.

    According to DPO Shah Hassan, Ayesha flew back to Mexico on July 19. Ali is currently completing his Matric exams and will fly to Mexico once his results are out.

    This is the fourth case in recent weeks of a foreign woman flying to KPK to marry a local man. On Saturday it was revealed that 36-year-old Nicola from Chile flew to Upper Dir to marry Ikramullah, whom she had met on TikTok.

    READ MORE: Humaray paani mein kuch hai? In third love story this month, Chile woman flies to marry Pakistani lover

  • Cryptocurrency millionaire found dead: Dismembered body parts found in suitcase

    Cryptocurrency millionaire found dead: Dismembered body parts found in suitcase

    Trigger Warning: The following content contains discussions of violence, crime, and death.

    Argentinian cryptocurrency influencer Fernando Perez Algaba, who had been reported missing for more than a week, was tragically discovered deceased on Wednesday. According to a report by the New York Post, his remains were found inside a suitcase near a stream in Buenos Aires. The disturbing incident came to light when a group of children found the red suitcase containing body parts while playing by the stream on Sunday.

    Upon being informed by the children’s parents, the authorities initiated an investigation. The suitcase contained Algaba’s legs and forearms, while one of his arms was found in the stream. Subsequently, on Wednesday, the police located the missing head and torso. The dismemberment appeared to have been skillfully performed, indicating the involvement of someone with expertise in such matters.

    Autopsy results revealed that Algaba had suffered three gunshot wounds before his body was dismembered. The police were able to identify him through his fingerprints and distinctive tattoos on the body parts.

    Fernando Perez Algaba was a self-made millionaire based in Barcelona, known for showcasing his opulent lifestyle to nearly one million Instagram followers. He accumulated his wealth through luxury vehicle rentals and cryptocurrency sales. Algaba had been in Argentina for a week before his disappearance and alleged murder.

    The circumstances surrounding Algaba’s death led to the arrest of one individual, and the authorities are currently investigating the motive behind the crime. While they suspect that financial debts may have played a role in the tragedy, a comprehensive investigation is still underway.

  • Jewish group demands Prime remove ‘Bawaal’ over insensitive portrayal of Holocaust

    Jewish group demands Prime remove ‘Bawaal’ over insensitive portrayal of Holocaust

    The Bollywood film ‘Bawal’ has been slammed on social media for using the trauma of the Holocaust ss the backdrop of a domestic spat between a couple. Starring Jhanwi Kapoor and Varun Dhavan, the film revolves around a couple who travel around Europe to visit places central to World War II.

    The film had been met with intense scrutiny, with many calling out the film makers because of several dialogues. “Every couple goes through their Auschwitz” and “We all too are a little like Hitler, aren’t we? We aren’t satisfied with what we have. We want what others have,” are two of the objectionable lines in the film.

    READ MORE: Bawaal’s cringey comparison of Holocaust with relationships will give you second-hand embarrassment

    The Simon Wiesenthal Center (SWC), which preserves the history of the victims of the Holocaust, has now issued a public statement where they called for the streaming giant Amazon Prime to remove the film from its service for “outlandish abuse of the Nazi Holocaust as a plot device”.

    “Auschwitz is not a metaphor. It is the quintessential example of Man’s capacity for Evil,” spoke SWC Associate Dean and Director of Global Social Action, Rabbi Abraham Cooper.

    By having the protagonist in this movie declare that ‘Every relationship goes through their Auschwitz,’ Nitesh Tiwari, trivializes and demeans the memory of 6 million murdered Jews and millions of others who suffered at the hands of Hitler’s genocidal regime.

    If the filmmaker’s goal was to gain PR for their movie by reportedly filming a fantasy sequence at the Nazi death camp, he has succeeded. Amazon Prime should stop monetizing Bawaal by immediately removing this banal trivialization of the suffering and systematic murder of millions of victims of the Nazi Holocaust,” Rabbi Cooper concluded. 

  • ‘I was provoked by women who slipped into my dms’: Amir Khan

    ‘I was provoked by women who slipped into my dms’: Amir Khan

    British-Pakistani boxer Amir Khan, who has been alleged with infidelity and cheating on his wife Faryal Makhdoom, has offered an explanation for his behaviour.

    The Sun published an interview with Sumaira, a bridal model, who revealed incriminating text messages between the two with the boxer requesting her to send nudes.

    READ MORE: Amir Khan going to therapy to ‘stop sexting women’ apologises to wife

    The boxer has now offered a public apology to his wife, stating that he was provoked into cheating after many women contacted him on his Instagram account:

    Khan said on his Instagram, adding that his wife is not to blame. “I thank her for the help she got me. I like to apologise to those who I may have hurt. I made a mistake and I was provoked when they slip into my DMs.”

    Faryal had fuelled separation rumors by posting a cryptic note on her Instagram stories on Friday: “Fall in love with someone who doesn’t make you think love is hard.”

    According to Daily Mail, sources have that revealed the couple, who have been married for 10 years, had separated while Faryal decides if she wishes to end their marriage or not.

    ‘Faryal is taking time to think about whether or not to walk away. She’s going through a very difficult time and choosing to focus on her children while she and Amir continue to co-parent.’

  • Bibi Zainab (RA) remains a powerful feminist icon for commemorating the tragedy of Karbala

    Bibi Zainab (RA) remains a powerful feminist icon for commemorating the tragedy of Karbala

    The month of Muharram is a time of collectively mourning the heroic sacrifices of the Prophet’s family at the battle of Karbala. Among the many heroic figures there was Bibi Zainab (RA), the sister of Hassan and Hussain (RA) and daughter of Hazrat Ali.

    Had it not been for Zainab, that the tragedy of Karbala would have remained unknown because of the propaganda campaign Yazid and his followers launched to justify their crimes.

    Her efforts to preserve the incident in history ensured that generations ahead would remember the sacrifices of Hussain (RA).

    The third child of Hazrat Ali and Hazrat Fatima, Zainab stood beside her brother when he refused to swear allegiance to Yazid’s caliphate. It was these actions that drove Hussain and his followers out of Madinah to travel to Kufa.

    After the martyrdom of Hussain (RA), the camps were looted as tents comprising of women and children were set on fire and they were bound in chains, paraded barefoot back to Kufa and then Damascus, Syria, where they were thrown in to prisons. It was at this time that Zainab (RA) took control and became a voice for the people. She lost two sons, her brothers and nephews to the tragedy of Karbala, but rose to the occasion to ensure that the events are never forgotten.

    At Yazid’s palace in Damascus, Zainab (RA) gave a rousing speech, that has regarded her to this day as ‘The Hero Of Karbala’

    “In the name of Allah, The most Gracious, the most Merciful. All praise is due to Allah, the Lord of the worlds. May praise and salutations be upon my grandfather, the leader of Allah’s messengers and upon his progeny. O Yazid! Do you think that we have become humble and despicable owing to the martyrdom of our people and our own captivity? Do you think that by killing the godly persons you have become great and respectable and the Almighty looks at you with special grace and kindness? You have, however, forgotten what Allah says: The disbelievers must not think that our respite is for their good We only give them time to let them increase their sins. For them there will be a humiliating torment. (Quran 3:178)

    O son of the freed ones! Is it justice that you keep your women and slave-girls in seclusion but have made the helpless daughters of the Holy Prophet ride on swift camels and given them in the hands of their enemies so that they may take them from one city to another. It will be the day when Allah will deliver the descendants of the Holy Prophet from the state of being scattered and will bring all of them together in Paradise. This is the promise which Allah has made in the Holy Quran. Do not think of those who are slain for the cause of Allah as dead. They are alive with their Lord and receive sustenance from Him.(Quran 3:169)

    Our blood is dripping from their hands and our flesh is falling down from their mouths.

    You (Yazid) may employ your deceit and cunning efforts, but I swear by Allah that the shame and disgrace which you have earned by the treatment meted out to us cannot be eradicated.”

    The speech completely moved members of Yazid’s court, listening to a battered and chained woman recount how Hussain (RA) was not an enemy, but a hero who had died protecting the nature of Islam and for righteousness to succeed over evil. Many stood up and protested against Yazid’s tyranny, as a result of which they were removed from court.

    Zainab bore the heavy task of ensuring that the events of Karbala are not lost to propaganda of Yazid, reminding everyone how the fearlessness of her father and her grandfather, Hazrat Muhammad (P.B.U.H) was also present within her. She set up the first majlis in Syria after she was freed, and recounted to throngs of people the events of Karbala and how all the martyrs ensured that the legacy of Hussain (RA) as someone who fought for justice, lives on.

  • Former KP Chief Minister Mahmood Khan gets expelled by PTI

    Former KP Chief Minister Mahmood Khan gets expelled by PTI

    After joining the Pakistan Tehreek-e-Insaf Parliamentarians (PTI-P), the Pakistan Tehreek-e-Insaf (PTI) on Saturday terminated the membership of the former Khyber Pakhtunkhwa chief minister Mahmood Khan.

    Wilson Wazeer, Ishtia Urmar, Iqbal Wazeer, Yaqoob Sheikh, and Shafiq Afridi, all former KP legislators, have also been dismissed from the PTI.
    Days after being expelled from the PTI earlier this month, Pervez Khattak, a former close aide to Imran Khan, founded PTI-Parliamentarians.
    On announcing the launch of the new party, the former defense minister condemned the attacks of May 9.

    “Our existence is directly linked to that of Pakistan. PTI is now completely finished in Khyber Pakhtunkhwa,” the former provincial chief minister said.

    Two other close aides, Jahangir Tareen and Aleem Khan, along with other individuals, founded the Istehkam-e-Pakistan Party last month.

  • US plans to raise fuel economy standards to 24.6 km per litre by 2032

    US plans to raise fuel economy standards to 24.6 km per litre by 2032

    The Biden administration has presented a proposal to increase fuel economy standards by 2032, aiming for a fleet-wide average of 58 miles per gallon (25 kilometres per litre). The primary goal of this proposal is to reduce greenhouse gas emissions and decrease fuel consumption.

    The proposal, put forth by the National Highway Traffic Safety Administration (NHTSA), is focused on the model years from 2027 to 2032. It calls for a yearly increase of 2 per cent in Corporate Average Fuel Economy (CAFE) requirements for passenger cars and 4 per cent for light trucks. Additionally, the agency is suggesting new fuel efficiency standards for heavy-duty pickup trucks and vans for the years 2030 to 2035, with a yearly rise of 10 per cent.

    Previously, in 2022, NHTSA had finalised rules for the years 2024 to 2026, which mandated a fleet average of 49 mpg by 2026. These rules gradually increased efficiency requirements by 8 per cent in 2024 and 2025 and by 10 per cent in 2026.

    NHTSA’s latest proposal is estimated to save vehicle owners in 2032 approximately $1,043 per vehicle in lifetime fuel costs. However, it will also result in an average increase of $932 in vehicle costs.

    According to NHTSA, this rule will incentivize manufacturers to produce internal combustion engine vehicles during the specified timeframe to achieve significant fuel economy improvements, enhance energy security, and substantially reduce harmful pollution.

    It’s important to note that CAFE requirements are not as stringent as the Environmental Protection Agency’s (EPA) proposal in April to reduce vehicle tailpipe emissions. The NHTSA is legally prohibited from considering electric vehicles’ fuel economy when setting standards.

    The EPA’s proposed standards for the years 2027–2032 are expected to lead to a 56 per cent reduction in emissions, with an average annual pollution cut of 13 per cent. Furthermore, it could result in 67 per cent of new vehicles in 2032 being electric.

    According to Reuters, NHTSA anticipates that its proposal would contribute to an 88 billion-gallon reduction in gasoline consumption by 2050.

    The agency is currently seeking feedback on five alternatives, which include not increasing requirements at all as well as raising them annually by 6 per cent for cars and 8 per cent for light trucks. NHTSA believes its preferred alternative strikes a balance between necessary improvements and ensuring the market can handle the changes without causing consumer acceptance or sales issues.

    In response to the EPA’s emissions proposal, the Alliance for Automotive Innovation, representing companies like General Motors, Toyota Motor, and Volkswagen, requested a more lenient approach, deeming the EPA’s proposal “neither reasonable nor achievable.” On the other hand, Tesla expressed the view that the EPA should make its proposal more rigorous. The alliance is currently reviewing NHTSA’s proposal.