MCC Quetta seizes smuggled goods worth Rs18.4 million
KARACHI: MCC Quetta has foiled a bid to transport smuggled goods to Karachi in a passenger bus and seized smuggled goods worth Rs18.4 million. In pursuance of authentic information received…
MCC JIAP seeks stay of transfers of its Appraising Officers
KARACHI: Collector Jinnah International Airport (JIAP) Ferozalam Junejo has requested the Federal Board of Revenue (FBR) to stay the transfers and postings of Principal Appraisers and Appraising Officers as the…
Customs officials reinstated into service
KARACHI: The Federal Board of Revenue (FBR) has imposed minor penalty on Principal Appraiser Razia Sultana Bhutto (MCC Appraisement West) of withholding of two annual increments.Razia Sultana, who was under…
Dhaga given additional charge of Secretary Revenue Division
KARACHI: Mohammad Younus Dhaga, a BS-22 officer of Pakistan Administrative Service (PAS), presently serving as Secretary Finance Division, is assigned additional charge of Secretary Revenue Division for a period of…
SGX updates rules on securities trading and market practices
SINGAPORE: Singapore Exchange (SGX) is amending on 3 June 2019 a raft of SGX rules including those on securities trading and market practices after generally supportive feedback received during an…
Pakistan’s equities decline 3.9% ahead of the IMF Program
KARACHI: Yet another week, yet another case (6th consecutive week) of the market shedding points! This time, the benchmark KSE-100 Index fell 1,406 points (down 3.9% WoW) to close at…
Pak-IMF talks remain inconclusive on last day
ISLAMABAD: Pakistan and the IMF have failed to strike a staff level agreement on fresh bailout package of $6.5 billion in the wake of tough conditions of the Fund on…
125th Canton Fair welcomes 195,000 buyers, closes with turnover reaching $29.73 billion
GUANGZHOU–Knowledge Bylanes — The 125th China Import and Export Fair (Canton Fair) has closed having received 195,454 buyers from 213 countries and regions. New buyers accounted for 42.5% of the…
Chairman FBR bars officers from attaching bank accounts of defaulting taxpayers
KARACHI: Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi has advised all chief commissioners not to attach bank accounts unless the taxpayer’s CEO/Principal Officer/owner is informed at least 24…
MCC Appraisement East seizes liquor, betel nut
KARACHI: MCC Appraisement East has foiled a bid to smuggle foreign liquor, beer and betel nut imported in the garb of car seats and arrested one accused namely Shahrukh. According…
Overseas Pakistanis remit US $17.9 billion in the first ten months of FY19
KARACHI: Pakistani workers remitted US $17.875 billion in the first ten months (July to April) of FY19, showing a growth of 8.45% compared with US $16.481 billion received during the…
SHC allows petition by tea importer against change of status by ST authorities
KARACHI: An appellate bench of High Court of Sindh (SHC) allowed a constitution petition challenging change of status from manufacturer to commercial importer thus involving payment of more tax. A…
Pak-China trade ties to benefit the entire region
ISLAMABAD: Federal Secretary for Communications Mr. Shoaib Ahmad Siddiqui has said that Pakistan and China are hand in hand to further expand range of cooperation in trade, industry and tourism…
National Accounts Committee projects GDP growth at 3.3% for FY19
KARACHI: The 101st meeting of the National Accounts Committee has projected the provisional growth of GDP for the year 2018-19 at 3.3%, Press Information Department (PID) reported.The growth of the…
FPCCI laments frequent increase in domestic air-fares
KARACHI: Engr. Daroo Khan Achakzai, President of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) showing concern on continuation of abrupt hike in the air fares on all the…
CPEC’s first Coal fired power plant faces liquidity crunch as receivables reach $150 million
KARACHI: Port Qasim Electric Power Company (PQEPC), the first power project under China Pakistan Economic Corridor (CPEC), is facing a liquidity crunch as its accumulated receivables have reached $150 million…
Savola Group contemplates SAR 5.3 billion sukuk program
RIYADH: The Savola Group Company has announced its intention to establish a Sukuk Programme to raise a sum of SAR 5.3 billion to fulfill the Company’s financial and strategic needs.The…
ARA US Hospitality Trust listed on SGX mainboard
SINGAPORE: Singapore Exchange (SGX) has welcomed ARA US Hospitality Trust to its Mainboard under the stock code “XZL”. ARA US Hospitality Trust is a Singapore-based stapled trust which comprises ARA…
Shabbar Zaidi officially notified as FBR chairman
KARACHI: The federal government on Thursday officially confirmed the appointment of Shabbar Zaidi as the new chairman of the Federal Board of Revenue (FBR) on an “honorary and pro bono…
SHC puts AG Sindh on notice in ST over Cotton seeds
KARACHI: The Advocate General Sindh was put on notice by an appellate bench of High Court of Sindh in a petition challenging a SRO levying Sales Tax on Cotton Seed…