Pakistan stocks slip 1.5 percent

KARACHI: Pakistan stocks slipped 1.5 percent during the week ended November 24, 2017, which started off on a bearish note amid ongoing sit-in by religious parties, dampening investor’s sentiment. Consequently, lack of triggers during the week kept investors at bay, dealers said. Faizan Ahmed at JS Global Capital said political… Continue reading

Rehmatullah Wazir assumes caretaker charge of Chairman FBR

KARACHI: The term of Dr. Irshad as Chairman Federal Board of Revenue (FBR) ended on June 30, 2017. It was a relatively shorter tenure. Member Inland Revenue Rehmatullah Wazir is looking after the chairperson’s office until the time a regular chairman is appointed. Rehmatullah Wazir is a very seasoned professional… Continue reading

Pakistan, Turkey agree to extend cooperation in civil aviation sector

KARACHI: Pakistan and Turkey mutually agreed on extending their mutual cooperation in different arenas particularly to enhance their competitiveness in civil aviation. It was decided in a meeting between Advisor to Prime Minister on Aviation Sardar Mehtab Ahmad Khan and Ambassador of Turkey in Pakistan S. Babur Girjin in Islamabad… Continue reading

Government convinced to eliminate under-invoicing, smuggling

KARACHI: The post clearance audit (PCA) has initiated recovery of revenue which was evaded through under-invoicing, which heralds a larger policy wherein government would ensure plugging of revenue leakage. Directorate General of Customs Valuation pursuing Tanveer Plan has issued a number of valuation guidelines for the reference so that under… Continue reading

Ishaq Dar to announce decision of property valuation on Saturday

KARACHI: Finance minister Ishaq Dar will announce the decision of property valuation issue on Saturday evening, it is learnt. Haroon Akhtar, advisor to the Prime Minister is having separate meetings with the members of the constituted committee and he informed the members that the decision would be announced on Saturday… Continue reading

Builders’ committee and FBR could not reach any consensus on valuation issue

KARACHI: The meeting of the 13-members committee of Builders and Developers with Haroon Akhtar Khan, advisor to the Prime Minister and member policy Federal Board of Revenue (FBR) was held at FBR office Islamabad on Thursday, but they could not reach any consensus on valuation issue of plots or land… Continue reading

Govt to hold meeting with ABAD on Saturday, says Khalid Tawab 14 members committee has been set up to discuss the issue, says ABAD Chairman

KARACHI: Adviser to the Prime Minister, Haroon Akhtar has assured the Association of Builders and Developers of Pakistan (ABAD) for resolving the valuers of the State Bank of Pakistan in property prices and nominated 14 member committee headed by FPCCI President. ABAD has strongly rejected the government’s efforts to give… Continue reading

Lawless democracy or Dictatorial rule? People have to choose

KARACHI: There was a worse traffic jam at a signal in down town Karachi with a lone traffic police cop and few volunteers trying to make way. Like other people I also tried to get through the grid lock but all efforts failed as more and more vehicles a-massed. Suddenly… Continue reading

SHC issue notices in application for vacation of stay in Afghan Transit Cargo case

KARACHI: An appellate bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Abdul Mali Gaddi on Friday issued notice for May 06 in a petition filed by Collectorate of Customs, Appraisement East formerly PACCS against Qasim International Container Terminal (QICT) and others. Shakeel Ahmed advocate appearing… Continue reading

FBR in full gear to make Voluntary Tax Compliance Scheme a success

KARACHI: Special Assistant to Prime Minister on Revenue Senator Haroon Akhtar Khan on Tuesday inaugurated a control room-cum-operational room in the FBR Headquarters to coordinate activities in FBR’s field formations across Pakistan to facilitate and educate the traders about the Voluntary Tax Compliance Scheme which has been launched after approval of the… Continue reading