SHC DISPOSES PETITIONS IN LED DUTY EXEMPTION
KARACHI: Dozens of constitution petitions filed by importers of LED lights were disposed of by a customs appellate bench of High Court of Sind. The bench noted that petitions are…
FPCCI urges OGRA to revoke increase in Gas price
Karachi (PR) Mian Anjum Nisar, President FPCCI has expressed his concerns over the unkind upswing in natural gas prices. He said that this decision would seriously affect the industrial sector,…
ECC approves four-year Circular Debt Capping Plan
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a proposal based on a comprehensive four-year Circular Debt Capping Plan presented by the Power Division to address the…
ECC increases minimum support price for wheat by Rs1.25/kg
ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has increased the minimum support price of wheat from the current Rs1300/40 kg to Rs1350/40 kg to safeguard the interests of the…
Dr. Abdul Hafeez Shaikh chairs ECC meeting
ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance & Revenue chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet and approved a proposal…
ECC approves payment of Rs5.85 billion to fertilizer industry
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved payment of outstanding amount of Rs5.85 billion as gas subsidy to the fertilizer industry. The meeting also approved separate…
Economic Coordination Committee meets
ISLAMABAD : Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh, chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet, to review…
ECC waives off Rs700mn penal surcharge against overstayed consignments at ports
ISLAMABAD: The Economic Coordination Committee (ECC) has approved a proposal of Federal Board of Revenue (FBR) to waive off the accumulated penal surcharges of Rs.700 million against overstayed consignments at…
Asad Umar chairs Economic Coordination Committee meeting
ISLAMABAD: Finance Minister Asad Umar chaired meeting of the Economic Coordination Committee of the Cabinet (ECC) here on Tuesday. ECC approved supplementary grant of Rs 46.4 million for payment to…
Asad Umar chairs Economic Coordination Committee meeting
ISLAMABAD: Finance Minister Asad Umar chaired meeting of the Economic Coordination Committee of the Cabinet (ECC) on Tuesday. The meeting considered and approved proposals presented by different ministries. Ministry of…
Ministry of Industries advised to expedite cotton cess recovery from textile mills
KARACHI: The Economic Coordination Committee (ECC) has assigned Ministry of Industries and Production to take measures for recovery of cotton cess from textile mills so as to give impetus to…
ECC approves Rs5.6bn additional guarantee to PIA for operationalizing grounded planes
KARACHI: The Economic Coordination Committee (ECC) has accorded approval for additional guarantees to Pakistan International Airlines (PIA) of Rs 5.6 billion for repair and maintenance of engines and acquisition of…
BoI advised to reduce SEZ application processing time to 45 days
ISLAMABAD: Economic Coordination Committee (ECC) has advised Board of Investment (BoI) to reduce the time frame for approval of Special Economic Zones (SEZ) applications from 90 days to 45 days.…
Petitions about Regulatory Duty adjourned till Feb 07
KARACHI: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Abdul Malik Gaddi on Wednesday adjourned hearing of a number of indentical…
Goverment considering to remove import duties on cotton, other raw materials
KARACHI: Government of Pakistan is considering to remove custom duty, additional custom duty and sales tax on import of cotton with a view to facilitate export oriented value added textile…
A separate Sales Tax Group on the cards
KARACHI: The government is planning to segregate Sales Tax from the Inland Revenue forming a new group, sources said. The decision in this regard is expected in the coming week.…
Tax on banking transactions reduced
KARACHI: Federal Budget 2018-19 has proposed reduced rate of advance tax on banking transactions by non-filers. Under section 236P of the Ordinance banks are obliged to collect advance tax at…
Incentives for exporters: GOP notifies Duty Drawback of Taxes Order 2017-18
KARACHI: In view of the Prime Minister Package of Incentives for Exporters approved by Economic Coordination Committee (ECC) of the Cabinet in order to provide duty drawback of taxes collected…
Regulatory duty imposed on LPG import
KARACHI: Federal Board of Revenue (FBR) has issued notification to impose regulatory duty on import of Liquefied Petroleum Gas (LPG) at the rate of Rs4,669 per metric tons. The FBR…
Car importers to pay duty in foreign exchange through a bank account abroad
KARACHI: In order to bridge the ballooning current account deficit and curb unnecessary imports, the government has taken several measures. Soon after slapping regulatory duty on over seven hundred importable…