Daily Updates

  Fuel prices are set to rise significantly starting tomorrow, 1st July 2024. Industry insiders suggest that the increase could be as much as Rs 9.84 per litre during the first fifteen days of the month. Sources reveal that petrol prices might go up by about Rs 7.54 per litre. High-speed diesel (HSD) could see an even steeper rise of Rs 9.84 per litre. Meanwhile, the price of light diesel oil (LDO) is expected to climb by Rs 8.73 per litre, and kerosene oil may increase by Rs 7.70 per litre. These price hikes are based on the current tax structure. If these adjustments are approved, consumers could be paying Rs 265.70 per litre for petrol, Rs 277.73 per litre for HSD, Rs 179.51 per litre for kerosene oil, and Rs 164.85 per litre for LDO. These estimates do not factor in any changes to the exchange rate. Additionally, if the government decides to raise the petroleum levy (PL) by Rs 5 per litre, the price of petrol could jump by Rs 12.54 per litre, and diesel could increase by Rs 14.84 p

  Petrol prices in Pakistan are set to increase by Rs7 per litre and high-speed diesel (HSD) by Rs8 per litre starting July 1, due to rising international market rates. This price hike comes after four consecutive price cuts, and there might be further increases if the Petroleum Development Levy (PDL) is raised to Rs80 per litre. Since May, petrol prices had dropped by Rs35 per litre, providing some relief to consumers. However, the recent rise in global oil prices has led to this new adjustment. Finance Minister Muhammad Aurangzeb confirmed that there could be gradual increases in the PDL based on ongoing market trends. The increase in fuel prices is expected to have a significant impact on the daily expenses of citizens and the overall economic stability of the country. Higher fuel costs can affect transportation costs, leading to increased prices for goods and services. Many people are concerned about how these changes will affect their household budgets and overall cost of living.

  In the budget for 2024-25, the federal government of Pakistan has decided to double the sales tax on PCs and laptops, increasing it from 5% to 10%. This change is expected to result in higher prices for these electronic devices, aiming to generate more revenue for the government. Moreover, Finance Minister Muhammad Aurangzeb announced significant increases in salaries for government employees, with raises of up to 25%. Retirees will also see their pensions increase by 15%. Additionally, the minimum monthly wage has been raised from Rs 32,000 to Rs 37,000. Despite facing financial difficulties, the government’s goal is to alleviate the challenges that its employees are facing by implementing these salary and pension increases. These measures are part of broader efforts to improve financial conditions and provide better support to public sector workers in Pakistan. Credit By: https://startuppakistan.com.pk

  Bugatti has revealed its latest model, the Bugatti Tourbillon, a powerful hybrid car with an impressive price tag. This new model is set to replace the $3.3 million Bugatti Chiron, which has a 1,500-horsepower engine. Given the current trend in the auto industry and Bugatti’s merger with Rimac in 2021, many expected Bugatti to release an all-electric vehicle. Rimac, a Croatian company, is known for its all-electric Rimac Nevera supercar. However, Mate Rimac, the CEO of Bugatti Rimac, made it clear that they never planned to go fully electric with this new model. Instead, Bugatti aimed to keep the essence of its traditional cars while incorporating modern technology to create a powerful plug-in hybrid. The goal was to blend the classic Bugatti experience with contemporary advancements. The Bugatti Tourbillon, like the Chiron and Veyron before it, features a massive 16-cylinder gasoline engine. This engine was developed in collaboration with Cosworth, a British race car engineering fir