Category: Business

The Securities and Exchange Commission of Pakistan (SECP) on Monday announced that it has approved a revision in tariff structures of the National Clearing Company of Pakistan Limited (NCCPL) and the Central Depository Company of Pakistan Limited (CDC). According to a press release issued by the commission, the decision was taken to foster capital market development and […]

Oil prices rose to their highest in two sessions on Monday amid concerns about oil supply disruptions from Saudi Arabia and elevated tensions in Middle East. Brent crude futures LCOc1 increased to as much as $65.50 a barrel. The front-month contract was at $64.84, up 57 cents, or 0.9 per cent at 0224 GMT. US […]

British travel group Thomas Cook on Monday declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back tens of thousands of stranded passengers. The 178-year-old operator, which had struggled against fierce online competition for some time and which had blamed Brexit uncertainty for […]

KARACHI: Federal Min­ister for Law and Justice Dr Farogh Naseem has said that because a lot of economic activity is generated in the agriculture sector, the federal government should collect agriculture tax. Speaking as chief guest at the annual dinner of Pakis­tan Tax Bar Association (PTBA) on Saturday night, the minister said that under Article […]

ISLAMABAD: Property owners in the capital have seen an unprecedented 200pc hike in property tax with little time to pay the charges. The Metropolitan Corporation Islamabad (MCI) approved the increase in property tax last December, making it applicable from July 1, but tensions between the MCI and Capital Development Authority (CDA) over who would control […]

ISLAMABAD: The large-scale manufacturing index (LSMI) shrank by 3.28 per cent in the first month of current fiscal year, the Pakistan Bureau of Statistics (PBS) reported on Friday. The large-scale manufacturing output has declined for eight months in a row amid dismal performance in the food, beverages, textile, pharmaceutical, chemical, fertilisers, leather and iron and […]

KARACHI: Non-production days coupled with closure of Indus Motor Company’s plant for 15 days has the vendor industry on edge. Other auto assemblers are also struggling to reduce their losses, and further production curbs among them will hit the vending industry hard who supply parts to the local automobile assemblers. A leading auto part maker […]

ISLAMABAD: Three noted private sector economists and business leaders were almost unanimous that exchange rate and monetary policy of the central bank and tax policy of the government were the key factors behind the prevailing inflationary trends, fiscal challenges of the government and low investments. They were giving their opinions to a tri-partisan sub-committee constituted […]

ISLAMABAD: Exports dipped 7.65 per cent during the second month of the current fiscal year, showed data released by the Pakistan Bureau of Statistics on Friday. The export proceeds fell to $1.85 billion in August as against $2.01bn over the corresponding month of last year. However, the cumulative export proceeds witnessed an uptick of 2.79pc […]

KARACHI: The Karachi Tax Bar Association (KTBA) on Friday asked the Federal Board of Revenue (FBR) to allow 90 days to tax payers for filing their returns from the date of issuance of tax forms, in line with the law. The KTBA, in a letter addressed to FBR Chairman Shabbar Zaidi, objected to the FBR’s […]