Tag: government regulations

  • Suzuki Swift GLX CVT now priced above Rs5.4 million

    Suzuki Swift GLX CVT now priced above Rs5.4 million

    Pak Suzuki Motor Company Limited (PSMC) announced a substantial increase of Rs304,000 in the price of its Swift G. CVT model, effective from March 8, 2024.

    This adjustment comes in response to the recent surge in taxes imposed by the government on locally manufactured or assembled vehicles, as indicated in the company’s official notice issued today.

    Consequently, the new sale price for the Swift G. CVT model will see an adjustment from Rs5.125 million to Rs5.429 million, reflecting the impact of the revised tax structure.

    The decision stems from a notification released by the Ministry of Finance and Revenue on the same date, highlighting a hike in the sales tax rate from 18 per cent to 25 per cent for vehicles falling under chapter 87.03 of the Pakistan Custom Tariffs, with an invoice price (excluding sales tax) exceeding Rs4 million.

  • About 830,000 Pakistanis left the country in 2022 in search of better jobs

    About 830,000 Pakistanis left the country in 2022 in search of better jobs

    The Bureau of Immigration and Overseas Employment (BE&OE) has reported a historic surge in emigrants seeking overseas employment in 2022, with a staggering 829,549 individuals registering for job opportunities abroad. Syed Agha Rafiullah, Parliamentary Secretary for Overseas Pakistanis and Human Resource Development (OPHRD), presented this data to the National Assembly on Wednesday, shedding light on the nation’s growing interest in international job markets.

    Rafiullah went on to explain that although 12.45 million Pakistani workers had registered for overseas employment opportunities since 1971, the COVID-19 pandemic had significantly impacted emigration numbers in 2020 and 2021. Only 224,705 and 286,648 Pakistani emigrants had been recorded in those years, respectively.

    To combat this decline, the government is actively pursuing a diversification strategy, seeking new international employment markets for its workforce. In this regard, the government has already established statements of intent on migration and mobility with Greece and the United Kingdom, and is hopeful of signing a similar agreement with Germany soon.

    Moreover, the ministry is currently in talks with 12 nations, including Denmark, Belgium, Germany, Greece, Italy, Iran, Lebanon, Kuwait, Libya, Romania, Portugal, and Uzbekistan, to sign memorandums of understanding (MoUs) on personnel export. In addition, 24 social welfare attachés have been deployed to 16 countries to explore new opportunities for Pakistani labor.

    The government is committed to providing Pakistani emigrants with the necessary training in line with the host country’s labor market requirements, as determined by the host country’s Labour Market Analysis (LMA). These measures reflect the government’s proactive approach in promoting overseas employment and ensuring its workforce’s sustainable livelihood.