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  • IMF urges Pakistan to expand capital gains tax scope to include cryptocurrencies

    IMF urges Pakistan to expand capital gains tax scope to include cryptocurrencies

    The International Monetary Fund (IMF) has advised the Federal Board of Revenue (FBR) to broaden the scope of capital gains tax (CGT) by incorporating cryptocurrencies into the tax regime.

    This recommendation arises amidst ongoing discussions between the Fund and Pakistani authorities regarding the $3 billion stand-by arrangement (SBA).

    The four-day review, which commenced on Thursday, aims to unlock the final tranche of approximately $1.1 billion secured by Islamabad under a last-minute rescue package last summer, thus averting a sovereign debt default.

    During these deliberations, the IMF proposed a reassessment of tax slabs for real estate and listed securities to ensure comprehensive taxation of all gains, irrespective of asset holding periods.

    Moreover, the IMF urged the FBR to mandate property developers to monitor and report all pre-completion property transfers, with penalties for non-compliance. This move aims to bring under the tax umbrella the prevalent practice of trading property plot files within housing schemes.

    These recommendations are anticipated to be incorporated into the forthcoming bailout package under the Extended Fund Facility (EFF), potentially becoming integral to the FY2024–25 budget through the finance bill.

    The IMF’s technical assistance report highlights the challenges faced by Pakistani authorities in assessing and collecting taxes on capital gains from real estate transactions, particularly those occurring before formal property registration.

    To address this issue, the IMF suggests obligating property developers to track and report all pre-completion property transfers, with penalties for non-compliance, thereby shifting tax liabilities to developers if they are not recoverable from the initial transferor.

    Furthermore, the IMF advocates for the expansion of assets subject to capital gains tax to include emerging investment avenues such as cryptocurrencies alongside real estate and listed securities. 

    It also proposes revising tax slabs to ensure equitable taxation of capital gains, irrespective of asset holding durations.

    Overall, these IMF recommendations seek to fortify the taxation framework, ensuring a more inclusive and equitable approach to capital gains taxation in Pakistan.

  • A Hindu woman’s journey of fasting in Ramazan

    A Hindu woman’s journey of fasting in Ramazan

    Fasting has been a practice in many cultures and religions for a long time. Now when people think of fasting, they often think of Islam and Muslims more than anything else.

    Neelam Gokulsing, who isn’t Muslim and is from Mauritius, lives in Dubai, UAE. She started fasting during Ramadan in 2021 when she was in Malaysia, to support her Muslim friends.

    “I have many Muslim friends in Malaysia, and we ate before dawn and after sunset together. It was about standing together and understanding their culture even though I’m Hindu,” said Neelam, who is 26-years-old and works at a fintech company. She moved to Dubai two years ago.

    Even after moving to the Muslim-majority Gulf nation, Neelam kept fasting during Ramadan to be like the people around her. At first, it was about supporting others, but it turned into a journey of learning more about herself.

    “Fasting isn’t just about not eating. It’s about connecting spiritually and learning new things about yourself. It’s like working together with yourself to discover your values,” she explained.

    Following a fasting routine while managing daily life has taught Neelam a lot about herself.

    Now, Neelam wants to learn Arabic to become even more a part of UAE’s culture and society. She’s excited about what the future holds.

  • SRK, Salman trade jibes at Ambani bash as Aamir watches

    SRK, Salman trade jibes at Ambani bash as Aamir watches

    Billionaire Indian family Ambanis have thrown a huge party worth more than a thousand crores INR, to celebrate Anant Ambani and Radhika Merchant’s pre-wedding ceremonies. Many important people from various fields around the world attended including Shah Rukh Khan, Kareena Kapoor Khan, Salman Khan, and Deepika Padukone.

    Bollywood superstars Shah Rukh Khan, Salman Khan and Aamir Khan delighted their fans by dancing together onstage. The videos were widely shared on social media, and now, the uncut version of their banter and their dance has been shared online.

    In one of the videos, Shah Rukh and Salman get into a fun argument about whose song they should dance on. Aamir then enters the debate and takes a dig on their argument, referring to the infamous fight they have had in the past. The trio calls Mukesh Ambani the “real don” but add that it is Nita Ambani who will select the song for them to dance on.

    In the video we also see Aamir suggesting that the three of them dance on his song ‘Papa Kehte Hai’ but SRK and Salman dismiss it. Shah Rukh wants ‘Besharam Rang’ to be played but Salman wants them to perform on ‘Hud Hud Dabangg’. The conversation stops after they realize that they are supposed to dance on ‘Naatu Naatu’.

    Watch the video:

  • Asma Abbas husband likes to flirt; here’s how she handles it

    Asma Abbas husband likes to flirt; here’s how she handles it

    Asma Abbas comes from one of the most talented families in Pakistan entertainment. But she made her own way to success by working hard. Recently, she was a guest on Wasi Shah’s show, where she talked openly about her life.
    Talking about her husband’s flirtatious nature, she said, “All men flirt a bit”. She knows her husband loves her and has his own boundaries so a bit of fun flirtation is okay and she does not mind it.

    She added, “I am okay with this as I am my husband’s second wife and I do not believe in suffocating my life partner.”
    She also talked about her relationship with her husband’s first wife. “I am thankful that my husband’s first wife accepted me and we lived together for 12 years with respect and camaraderie.” Her husband always maintained a balance and treated both wives fairly.

  • Bushra Ansari wears shawl with urdu poetry on it

    Bushra Ansari wears shawl with urdu poetry on it

    Veteran actor Bushra Ansari caught attention on social media when she shared a photo of herself wearing a shawl with Allama Iqbal’s poetry written on it. She was getting ready for a Ramazan TV show.
    In her post, Ansari cleverly joked about the poetry on her shawl, saying, “If you can read Urdu, you’ll understand.”
    The choice of attire and her witty comment was in retort to the recent incident at Lahore’s Ichra Bazaar where a woman wearing a shirt with Arabic writing, was harassed by a fanatical mob.

    Thanks to quick action from the police, led by Assistant Superintendent Syeda Shehrbano Naqvi, the woman remained safe.
    Ansari’s comment is a reminder about violence and ignorance. While some might see her shawl gesture as bold, she’s known for her funny jokes and straight talk.

  • Tayyaba Raja angry at PTI for senate seat for Sanam Javed

    Tayyaba Raja angry at PTI for senate seat for Sanam Javed

    Pakistan Tehreek-e-Insaf (PTI) worker Tayyaba Raja criticised her party for nominating Sanam Javed as a candidate for a seat in the Senate.

    Tayyaba Raja wrote on her X (previously Twitter) account that it is unfair to highlight one person’s achievements and ignoring the sacrifices of others.

    Tayyaba also asked how an anti-terrorism court granted bail to Sanam Javed, writing that she arrested eight times and received bail on seven occasions.

    The PTI leader pointed out that Aliya Hamza and Khadija Shah were granted bail by the Lahore High Court after nine months following the reformation of the bench 15 times.

    “How can the ATC repeatedly grant bail to an individual? This is a major question.”

    “All of us are silent only till the return of [PTI founding chairman] Imran Khan,” she said.

    She urged every woman worker to remain patient and wait for the best time to speak up.

  • How much money will PSL 9 winner get?

    How much money will PSL 9 winner get?

    The Pakistan Cricket Board (PCP) has announced the prize money for the ninth edition of the Pakistan Super League (PSL).

    According to the announcement, the winning team will get 14 crore rupees, while the runner up will be given a prize of 5.6 crore rupees.

    The best player of PSL will be given 30 lakh rupees, the best batsman, bowler and wicket keeper will get 35 lakh rupees each, the best all-rounder, fielder and umpire will also be given a prize of 35 lakh rupees.

    The cricketers who win the Emerging Player and Spirit of Cricket awards will also get prize money of 35 lakh rupees. Chairman of Pakistan Cricket Board Mohsin Naqvi will distribute the prizes.

    The final match of the 9th season of PSL will be played between Islamabad United and Multan Sultans at National Bank Stadium Karachi today.

  • Karachi police officer involved in 90s operation faces death threats yet again

    Karachi police officer involved in 90s operation faces death threats yet again

    The family of Haider Ali Zaidi, a former police officer who played a pivotal role in the Karachi operation of the 1990s, is currently under threat from criminals, The News has reported.

    Haider is known for his contributions during the operation. He has been subjected to numerous terrorist attacks in the past and is once again receiving death threats, along with his family.

    One such incident occurred in 2013 near Safari Park, where Haider sustained severe injuries. Consequently, his brothers, Syed Shahid Ali Zaidi and Sultan Ali Zaidi, opted to leave the country due to persistent threats.

    Haider reported that his mother recently received a threatening call, warning of harm to her sons upon their return to Pakistan. The continuous threats prompted Haider and his brothers to relocate abroad for safety.

    Despite their desire to return home, they face renewed threats if they do so. Additionally, Haider’s younger brother Shahid was injured in a knife attack by terrorists in 2018 and was once again targeted in 2019.

    Furthermore, Haider’s sisters have been victims of terrorist attacks, while Sultan too, has faced threats. Their mother, battling cancer, has also been subjected to repeated threatening calls, adding to the family’s distress.

  • Deportation of Afghan card holders will begin from April 15

    Deportation of Afghan card holders will begin from April 15

    The federal interior ministry has directed the Punjab government to initiate the second phase of an operation aimed at deporting Afghan citizen card holders starting from April 15.

    During a video conference chaired by Federal Interior Secretary Aftab Durrani, in the presence of Punjab Home Secretary Noorul Amin and other senior officials, it was decided that the federal government would provide Punjab with lists of Afghan Citizen Card Holders. These lists will then be shared with law enforcement agencies, including the police.

    Initially, card holders will be encouraged to voluntarily return to Afghanistan. Subsequently, those who do not comply will be apprehended and deported. Sources emphasised that the availability of data on Afghan citizen card holders within the federal government will streamline the process, eliminating previous challenges associated with tracing illegal foreigners.

    Following the completion of the second phase of deportations, plans for the third phase, targeting Afghan POR (Proof of Residence) card holders, were also discussed. According to sources, over 400,000 illegal Afghan nationals have already been deported.

  • Renowned American singer converts to Islam

    Renowned American singer converts to Islam

    Famous American rapper and producer Lil Jon has recently embraced Islam during the holy month of Ramazan.

    According to international media reports, American rapper and producer Lil Jon accepted Islam in the King Fahd Mosque in Los Angeles, California, on March 15, just before the Friday prayers.

    A video of the American singer reciting the kalma is going viral on social media, where he can be seen reciting in both Arabic and English under the guidance of the mosque’s Imam.Lil Jon has been receiving congratulations from Muslims on social media for becoming a Muslim. He expressed his gratitude in a special post on Instagram, saying, “Alhamdulillah, I am thankful to all my brothers and sisters who sent me positive messages and expressed selfless love.”

    Born in June 1972 in Atlanta, Georgia, the singer’s real name is Jonathan H. Smith. He became famous in the early 2000s for his significant role in creating new genres of hip-hop music.

    After American author and social activist Sean King, Lil Jon is the second American celebrity to convert to Islam during the first week of Ramadan.

    @n_war967 Rapper Lil Jon took his Shahada and accepted Islam at King Fahad Mosque in LA #liljon #muslim #muslimummah #ramdan #ramdan2024 ♬ original sound – n_war967