NAYA PAKISTAN HOUSING SCHEME REGISTERATION

Prime Minister of Pakistan Imran Khan is inaugurating five million housing scheme registration today.

The registration process will continue for three months and one person from each family can apply for this.

Registration forms can be downloaded from NADRA website and can be obtained from NADRA e-Salhulat franchises too.

The Prime Minister has decided to monitor the scheme himself.He has said that this project is part of the manifesto of PTI and it will not only solve the dearth of houses in the country but also provide employment to several hundred thousand people too.

In general Pakistan Housing Authority will monitor the project and the houses will be constructed across all Pakistan including Gilgit-Baltistan phase wise. Initially seven big cities of Pakistan have been selected for this and the scheme will be started from Islamabad.

The project has been named "Mera Ghar" Project. The project will be carried out on public private partnership. The provincial governments will also select one district each for the initial phase.

US GDP GROWTH 2019

1st Quarter 2019:

The US economy expanded by an annualized 3.10% in the 1st quarter of 2019, unrevised from the second estimate issued last month and following a 2.20% expansion in the previous  3 months. Upward revisions to nonresidential fixed investment, exports, state and local government spending, and residential fixed investment were offset by downward revisions to personal consumption expenditures and inventory investment and an upward revision to imports.

 GDP Growth Rate in the US averaged 3.22 percent from 1947 to 2019, reaching an all time high of 16.70 percent in the first quarter of 1950 and a record low of -10 percent in the first quarter of 1958.

2nd Quarter 2019:

At this point, using data published to date,
 it appears that the US is headed for a 
period of slower growth.

The economy is expected to grow by 1.80%
 in 2nd quarter based on the median for a
 set of GDP estimates compiled by 
The Capital Spectator.

Aside from GDP estimates, one thing that is
 affecting economic expectations is the 
deepening inversion of the Treasury 
yield curve, which is widely viewed as
 an indicator of elevated recession risk.

Looking beyond the yield curve, however,
 suggests that US recession risk remains
 low.

Economic growth remains on track for a slower
 growth in the second quarter vs. the first one,
 based on a set of now-casts. Although the 
current estimates suggest that the economy
 has low risk to fall into a recession in the
 immediate future, output for the April to June
 period seems to be at risk of decelerating to
 the softest pace in more than two years.

The economy is expected to expand 1.80% in Q2 2019, based on the median for a set of GDP estimates compiled by "The Capital Spectator".  If today's median Q2 estimate is correct, the growth will show a substantially   softer gain compared with 1st Quarter's strong 3.20 percent increase.

Aside from GDP estimates,  Treasury yield curve is being widely viewed as an indicator of elevated recession risk. This spread ticked deeper into negative territory on  May 28, when the 3-months Treasury yield exceeded the 10 year yield by 12 basis points , the deepest negative spread since the year 2007.

"The drop of the US Treasury yield is an indicator of growing uncertainty," Lena Komileva, chief economist at G Plus Economics,  told Bloomberg. "It's quite clear now that we are past that cyclical peak for earnings and the cyclical trough in credit spreads." She added that Treasuries are "going to be very well-supported here."

Looking beyond the yield curve, however, suggests that US recession risk remains low. Perhaps the leading risk factor at the moment is the escalating US-China trade conflict.

 Wednesday's revised point forecast anticipates that the year over year rate of growth will decelerate for several quarters.

The crucial question in the days and weeks ahead: Will incoming data materially change the outlook? Based on estimates and the previous data, these updates are expected to show that recession risk remains quite low. But as growth slows down, any downside surprises will surely negative effects on coming quarters too. The US, in short, seems heading towards a challenging 2nd half in 2019.

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.