Three FBR officers promoted to BS-22
KARACHI: The establishment division on Friday notified promotion of three senior officials of Federal Board of Revenue (FBR) to BS-22 with immediate effect. According to notification issued by the FBR,…
Corona sharpens budget, shrunken receipts, shrunken tax targets, disappointing for govt employees, masses
KARACHI. COVID 19 or Corona pandemic has hit the Pakistan,s economy hard like other countries of the world leading to a shrunken economy, shrunken receipts, shrunken tax targets and no…
FBR proposes mandatory tax profile filing
ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to make it mandatory for individuals to file a tax profile for earning taxable income in the next fiscal. The FBR…
Federal budget doesn’t bring smile on most faces; mini budget shortly
KARACHI: The budget comes sans any incentive to spur industrial growth, which is going south fast. Government should have restored the widely demanded ‘no tax no refund regime. Perhaps, IMF…
Federal budget proposes harsh penalties for persons involved in smuggling
KARACHI: In order to eliminate smuggling, the government has proposed harsh punishments for persons involved in smuggling goods in or out of Pakistan. If the value of the smuggled goods…
Government simplifies withholding tax regime
KARACHI: To augment efforts towards simplification of the withholding tax regime, the government has deleted several withholding tax provisions including collection collection of advance tax on education related expenses remitted…
Opposition stages un-precedented protest in budget session
ISLAMABAD: The opposition parties mainly PPP and PML-N surprised the treasury benches when they suddenly brought out placards of all colors reminding the ruling Pakistan Tehreek-e-Insaf of their commitments made…
CNIC copy not required on purchases of upto Rs100,000
KARACHI: Admitting the demands of traders, the government has increased the minimum threshold of supplies by retailers for obtaining CNIC of the buyers from Rs 50,000 to 100,000. Accordingly, the…
Federal budget proposes Custom duty, regulatory duty reduction on a large number of products and raw material
KARACHI: Federal Budget 2020-21 has proposed exemption of additional custom duties on those tariff lines which now attract zero customs duty in tariff along with reduction of custom duty on…
Subsidy to K-Electric consumers reduced 57pc to Rs25.5bn
KARACHI: The federal budget 2020-21 has proposed 57 percent reduction in subsidy to K-Electric consumers for the upcoming year to Rs 25.5 billion compared with Rs59.5 billion allocation for the…
PTI government presents new taxes less, incentive less deficit budget 2020-21
ISLAMABAD: Minster for Industries Hammad Azhar presented the federal budget for the fiscal year 2020-21, wherein no new taxes have been imposed. The budget i.e. the Finance Bill is said…
Tariff structure rationalised for 30,000 raw materials, intermediary goods
ISLAMABAD: Presenting relief-oriented budget on Friday, the government has decided to rationalise duty/tariff structure for over 30,000 raw materials and intermediary goods for boosting up industrialisation in the country, commerce…
LHC interim order hailed by medical suppliers Medical devices price to drop
LAHORE: The medical suppliers have hailed an interim order passed by a single judge of Lahore High Court in a writ petition filed by 45 petioner companies including A.S. Enterprises,…
LPG supply and distribution infrastructure attract Rs3.72bn investment in 9 months
KARACHI: The liquid petroleum gas (LPG) supply and distribution infrastructure attracted an investment of Rs3.72 billion during July-March 2019-20, as LPG marketing companies are undertaking expansion, Economic Survey of Pakistan…
Economic Survey of Pakistan projects GDP growth at negative 0.38 percent
ISLAMABAD: The GDP growth for current fiscal year has been estimated negative 0.38 percent, according to Pakistan Economic Survey for 2019/2020 released on Thursday. The survey stated that although, provisional…
CCP ISSUES SHOW CAUSE NOTICE TO 46 SUPPLIERS OF LINE HARDWARE FOR BID RIGGING IN TENDERS OF OVER PKR 5 BILLION OF WORTH FLOATED BY POWER DISTRIBUTION COMPANIES
ISLAMABAD: The Competition Commission of Pakistan (CCP) has issued show cause notices to 47 suppliers of Line Hardware Material to the Electric Power Distribution Companies (DISCOs) for prima facie operating…
Governor SBP shares with Chambers of Commerce the measures to enhance utilization of Risk Sharing Facility under SBP’s Rozgar Scheme
In order to improve utilization of Risk Sharing Facility under SBP ROZGAR scheme, Governor SBP, Dr. Reza Baqir, held an online meeting with the Presidents of Chambers of Commerce and…
1320 companies availed Rs96 billion through SBP’s Refinance Scheme: Reza Baqir Agha Shahab urges SBP to publicize info of loan beneficiaries to promote transparency
KARACHI: Governor State Bank of Pakistan (SBP) Reza Baqir has informed that so far a total of 1320 companies have availed SBP’s refinance scheme and a sum of Rs96 billion…
SECP’s Regulatory Sandbox – Technology Driven Initiative Moves to Next Stage
ISLAMABAD: The Regulatory Sandbox of SECP – a technology driven initiative – received immense response from wide range of innovators including well established entities, foreign companies and start-ups. These entities,…
LPG emerges as best fuel option for the Poor Masses of Pakistan and to resolve its energy shortfall, deforestation, environmental issues
Karachi: The greater and safe consumption of Liquefied Petroleum Gas (LPG) in a country like Pakistan has emerged as the best fuel option related to the everyday life of poor…