Rs36 billion financing approved to clear circular debt
ISLAMABAD: Government of Pakistan has allowed the ministry of energy to secure around Rs36 billion from a syndicate of banks to clear power sector’s outstanding payments. The decision was taken…
Pakistan to issue postal ticket to commemorate IDEAS defence exhibition
KARACHI: Government of Pakistan will issue a Rs10 postal ticket to commemorate the 10th successful edition of IDEAS defence exhibition on November 27, 2018. Organizers of IDEAS 2018 have said…
PM urged to secure duty free access to Chinese markets
KARACHI: Pakistan Hosiery Manufacturers & Exporters Association (PHMA) has urged the government of Pakistan to demand from China duty-free access to Chinese markets to bridge the huge trade balance in…
Indus Motor Company Declares Profit after Tax of PKR 15.8 Billion for FY18
Karachi – 28th August, 2018: The Board of Directors of Indus Motor Company (IMC) Ltd. met on August 28, 2018 to review the company’s financial and operating performance for the…
Government revises schedule of Regulatory Duty
KARACHI: The government of Pakistan has revised incidence of Regulatory Duty (RD) on 441 importable items in the range of 5.0 percent to 35 percent. The rate of RD is…
Raw material import limit enhanced
KARACHI: Government of Pakistan has announced enhancement in limit for importing raw material by manufacturers without collection of income tax at the import stage. Presently, the quantitative limit for import…
Federal Budget 2017-18 proposes several sales tax exemptions
KARACHI: Government of Pakistan through Federal Budget 2017-18 has reduced sales tax on fertilizers to replce subsidy. Due to complications in payment of subsidy to fertilizers manufacturers and importers, the…
Tax on mobile phone services reduced
KARACHI: Government of Pakistan has decided to reduce taxe on mobile phone service usage as a reduction of withholding tax and Federal Excise Duty on telecom services is proposed through…
IT companies, tech start-ups given three-year tax holiday
KARACHI: Government of Pakistan has announced a tax holiday for tech-start-up companies and software houses for a period of three years. Proposed budget for 2017-18 said that all IT exports…
Tax on smart phone import reduced
KARACHI: Government of Pakistan has reduced tax on imported smartphones. According to details, one category — for which import duty was Rs. 1,000 — the rate of duty has been…
Government of Pakistan notifies promotions of civil servants
KARACHI: The Government of Pakistan has notified promotions of Civil Servants of Pakistan (CSP) from Grade-20 to Grade-21 and from Grade-19 to Grade-20. However, the notified promotions raise several questions,…
Govt will make Pakistan energy self-sufficient country by 2018: Dar
ISLAMABAD: Finance Minister Ishaq Dar has said that the government will make Pakistan energy self-sufficient country by 2018. He was addressing the concluding ceremony of China Pakistan Economic Corridor Conference…
Advocates on FBR panel disengaged
KARACHI: Government of Pakistan has decided to disengage panel advocates placed on various panels prior to December 31, 2008. Therefore, panel advocates from the panel of Federal Board of Revenue…
MQF offers services for the protection and security of CPEC
KARACHI: Muttahida Qabail Federation (MQF) has offered their services and support to the government of Pakistan to provide security and protection to China-Pakistan Economic corridor (CPEC). MQF is an alliance…
Telenor avoids to pay WHT of $39.5m against 10MHz 4G license purchase
KARACHI: The Telenor Pakistan has total refused to pay 10 per cent Withholding Tax (WHT) amounting to $39.5 million and filed a petition in Islamabad High Court against government of…
Industrial consumers allowed to import waste, scrap, exhausted automobile batteries
KARACHI: Government of Pakistan has allowed import of waste, scrap etc subject to fulfillment of environment and pre-shipment certification by industrial consumers. According to Import Policy 2016, waste, parings and…
SHC decides EOBI contribution case: Holds contributions for contractual employees also payable
KARACHI: Deciding two identical petitions filed back in 1998, a divisional bench of High Court of Sindh (SHC) comprising Justice Irfan Saadat Khan and Justice Zafar Ahmed Rajput on Friday…
Judgment reserved in Engro Elengy Suit by SHC
KARACHI: Justice Muhammad Junaid Ghaffar of High Court of Sindh on Friday reserved the judgment in a suit filed by Engro Elengy Terminal (Private) Limited. The plaintiff challenged against refusal…
Engro Elengy duty, taxes exemption case, final arguments on Feb 26
KARACHI: Justice Muhammad Junaid Ghaffar of High Court of Sindh on Friday adjourned the hearing of a suit filed by Engro Elengy Terminal (Private) Limited against refusal of exemption from…
SHC reserves order in concessional duty case
KARACHI: Justice Muhammad Junaid Ghaffar of High Court of Sindh (SHC) on Tuesday reserved order in a suit filed by Popular Spinning Mills against Director, Assistant Director of Directorate of…