GRADE 17 SALARY IN PAKISTAN

PAY AND ALLOWANCES OF EMPLOYEES OF BS-17
Since 1st July, 2019:


Basic pay                              Rs. 32670
House rent allowance 45%     Rs. 66650
Convey allowance 2005         Rs. 5000
Medical allowance 15%          Rs. 1847
Adhoc relief 2016 , 10%         Rs. 2544
Adhoc relief 2017 , 10%         Rs. 3267
Adhoc relief 2018 , 10%         Rs. 3267
Adhoc relief 2019 , 05%         Rs. 1633


DEDUCTIONS:

GPF subscription                    Rs. 4270
Group insurance                     Rs. 409
Professional tax                      Rs. 200
Benevolent fund                     Rs. 768
Income tax                             Rs. 669
TOTAL=                                  Rs. 6316

GROSS PAY                           Rs. 63378
NET PAY                              Rs. 57062

SUZUKI VEHICLES LATEST PRICES AFTER BUDGET 2019

From first July, 2019 the following prices will be applicable:

Note: According to the company notification the retail prices are inclusive of ex-factory product prices per unit, including 17% sales tax, 2.5% FED as per finance bill 2019 on all versions of Mehran, WagonR, Cultus, Ravi and Bolan, 5% FED on all versions of Swift, Ciaz, Jimny, APV, Mega Carry and Vitara and freight charges borne on vehicle to reach the dealership business premises. 

    PRODUCT           OLD PRICE      NEW PRICE

 Suzuki Mehran VX  Rs799,000   Rs839,000

Suzuki Mehran VXR Rs880,000  Rs923,000 

Cultus VXR,   Rs1.440m         Rs1.745 million

Cultus VXL     Rs1.551m            Rs1.85m 

Cultus VXL AGS  Rs1.668m    Rs1.975m 

Swift DLX NAV Rs. 1.585m    Rs. 1.975m

Swift AT NAV Rs. 1.721m       Rs. 2.050m

WagonR VXR  Rs1.264m           Rs1.540m

WagonR VXL  Rs1.344m          Rs1.625m

Bolan    Rs874,000                  Rs1.050m

 Bolan Cargo Van Rs840,000  Rs1.005m

Ciaz GL MT Rs2.160m        Rs2.3m

Ciaz GL AT  Rs2.300m        Rs2.5m 

Suzuki Vitara GLX Rs4.090m  Rs4.295m.

CAPITAL GAIN TAX ON SALE OF PROPERTY BUDGET 2019

From 1st July, 2019 capital gain tax will be levied as per following rates as passed in finance bill 2019-20.

CAPITAL GAIN AMOUNT                             UPTO    5 Million         5%
CAPITAL GAIN AMOUNT ABOVE   5  Million  UPTO  10 Million       10%
CAPITAL GAIN AMOUNT ABOVE  10 Million  UPTO  15 Million       15%
CAPITAL GAIN AMOUNT ABOVE  15 Million  UPTO  20 Million       20%

Furthermore, in case of open plot where the holding period is up to one year, the full gain will be taxed.Where the holding period is between 1-10 years, 75% of the gain shall be taxed.There will be no tax in case the holding period is more than 08 years.

In case of gain on sale of constructed property is to be fully taxed where the holding period is up to one year and 75 % of the gain will be taxed where the holding period is between 1-4 years.Where the holding period is above four years no gains shall be taxed.

NAB TO FILE REFERENCE IN EDEN HOUSING FRAUD

National Accountability Bureau (NAB) has decided to file reference before accountability court against son-in-law MR. Murtaza Amjad of ex-chief justice MR. Iftikhar Muhammad Choudry and other co-owners of Eden housing projects. The reference will be of 19 billion rupees. This has been decided by NAB after having failed to reach plea bargain with the owners. The owners have already fled the country in order to avoid any proceedings against them and NAB has blamed interior ministry for failure to place these people on Exit Control List in time despite specific request by NAB. NAB has said in this regard that it had requested interior ministry to place Dr. Amjad and his sons Murtaza Amjad and Mustafa Amjad to be placed on exit control list but interior ministry failed to do so and all of them fled to Canada. NAB has now decided in its regional board to file reference against Murtaza Amjad, Dr. Amjad, Anjum Amjad and Mustafa Amjad.

GAWADAR OIL CITY AND PETRO CHEMICAL CHAIN

Khusro Bakhtiar, Federal Minister for Planning, Development and Reforms has said that around 8 billion dollars investment is expected in the proposed Gwadar oil city project and the petrochemical chain to be developed under CPEC.

Briefing Senate Special Committee on CPEC he said that huge investment is coming to Pakistan’s oil sector being very lucrative.

He said that the government was exploring different avenues for investment in the ML-1 project and inviting the third party including Japan or Germany to invest in Karachi to Peshawar railway track.

The Senate Special Committee on CPEC was informed that besides Saudi Arabia, UAE and Korea has also shown interest in investing in the oil city in Gwadar. The government is currently negotiating with Saudi state oil company ARAMCO to set up an oil refinery in Gwadar, the minister revealed.

“Both UAE and Korea want to set up oil refineries in the port city,” he said. The minister further informed the committee that free trade agreement with China would be finalized/renegotiated during 2019.

Members of the committee raised questions over including the third party in CPEC. Khusro Bakhtiar has said that CPEC was a strategic bilateral legal framework agreement between Pakistan and China and no third country could become the partner in the framework. However, he said that any investment in the CPEC projects by any third country would be done after prior approval of the two countries. The committee also showed concern over the issues of the missing portion of CPEC Western Route and directed the federal government to complete the portion from Dera Ismail Khan to Zob, from Zob to Quetta and from Quetta to Sohrab on a priority basis. Senator Usman Kakar said that work on the project was pending for the long and previous government had shown least interest in the project.

The planning minister said that the Western Route was an integral part of CPEC and the government is giving high priority to the western route.

The committee was informed that the D.I. Khan-Zhob part of Western Route was being constructed under CPEC and it was on the agenda of JCC on CPEC to be held in Beijing this month. The minister assured the committee that remaining parts of the route which were not under CPEC will be included in the PSDP and work on these projects will be initiated very soon.

The minister said that the present government has established new joint working groups on CPEC in agriculture and socio-economic sectors to increase cooperation in these sectors. The minister said that these two sectors would be on the agenda of the upcoming JCC meeting.

Gawadar port is going to be the hub of trade in the region very soon and those who are investing right now are expected to reap huge returns in the future.