Car prices can be reduced only through maximum localization

PAAPAM Members appreciate PM notice of higher car prices; want 10-year ‘Auto parts localization policy’. The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has appreciated the PM’s taking notice of higher automobile prices in the country, which is mainly due to lower content of localized parts and government’s… Continue reading

FBR proposes to withdraw DTRE facility for ghee exporters of KPK, Baluchistan

KARACHI: The Federal Board of Revenue (FBR) has proposed to withdraw Duty and Tax Remission for Exporters (DTRE) facility, earlier allowed to the manufacturers-cum-exporters of ghee located in the provinces of Khyber Pakhtunkhwa and Baluchistan. DTRE is a government’s temporary importation scheme, which allows trader to import duty-free goods only… Continue reading

Sales tax exemptions on LNG, plant & machinery, computer parts’ import

KARACHI: The Finance Bill 2018 proposes to waive the value addition tax of 3.0 percent chargeable on import of LNG under Rule-58B of Sales Tax Special Procedure Rules, 2007. It also proposes to provide reduced rate of sales tax from 17 percent to 12 percent on import of LNG by… Continue reading

Customs Adjudication imposes conditional penalty on SNGPL

KARACHI: Collector Customs Adjudication Chaudry Muhammad Javaid has imposed a conditional penalty on M/s Sui Northern Gas Pipelines (SNGPL) for evading duty/taxes and claiming inadmissible of concessionary SRO. Collector Adjudication has linked the verdict with the report of Engineering Development Board (EDB) that whether the gas meters imported by M/s… Continue reading

Pak Suzuki increases prices by 3% from Aug 1,

KARACHI: Despite the higher profits of Rs 488 million in April-June 2016, Pak Suzuki Motor Company (PSMC) Monday increased prices of all its car models by 3 per cent, minimum (Rs 20,000 to 103,000)per unit, according to market sources. Price of Wagon R VXR 1000cc Euro II has been increased… Continue reading

OCAC demands restoration of import concessions under SRO 575(I)/2006

KARACHI: The Oil Companies Advisory Council (OCAC) demands restoration of import concessions available for oil & gas sector, which were withdrawn in the Finance Act 2014-15. “We intend to take up this matter at the highest level because the withdrawal of the incentives has quite adversely impacted the expansion and… Continue reading

  • RSS Bloomberg