Category: Business

ISLAMABAD: Prime Minister Imran Khan has set up a high-powered 12-member National Financial Action Task Force (FATF) Coordination Committee to ensure execution of all FATF-related tasks till Dec 1. Led by Minister for Economic Affairs Division Hammad Azhar, the committee comprises federal secretaries of finance, foreign affairs and interior besides heads of all the institutions […]

Income is taxed on the basis of its source in Pakistan. A non-resident person is only taxed to the extent of Pakistan-sourced income. He is not required to pay tax on foreign-sourced income or disclose his assets held abroad. The tax residence status in Pakistan is determined on the basis of the physical stay of […]

As the cotton crop enters a crucial phase of its life cycle, it raises assorted concerns for the planners and the textile industry. Both are keeping their fingers crossed as the weather turns anti-cotton — long spells of hot and humid weather, worsened by floods, causing an increase in pest pressure. And September, normally considered […]

See your “Friends” on the big screen. Deck out your place with “Friends” decor. Wear your “Friends” as jewellery. Heck, buy the “Friends” Lego set and pretend it’s for your kid. If you’re a “Friends” super fan, there are lots of ways to celebrate the show’s 25th anniversary in September. “It transcends generations,” Maryellen Zarakas, […]

The federal taxes collected in the first month of any fiscal year may not accurately represent either the actual quarterly or annual revenue growth trend but they do give some indication of the direction in which things are moving. The financial year starts in July with a lower collection which picks up momentum in the […]

ISLAMABAD: Pakistan has formally requested the United Arab Emirates (UAE) to provide information about all Pakistani nationals who have obtained iqama (work permit) in a bid to hide their illegal wealth. The UAE law allows foreign nationals to obtain iqama on the basis of investment beyond a certain threshold. The issue gained importance in Pakistan […]

ISLAMABAD: In a major drive against benami properties, Prime Minister Imran Khan on Friday directed deputy commissioners and heads of development authorities to identify benami properties or suspected benami properties in their jurisdictions within one month as part of a government campaign to document the economy. The directive came in the wake of government efforts […]

Pakistan LNG Limited (PLL) has replaced its top manager with immediate effect, appointing Shahid Yousaf as managing director and chief executive, The state-owned operator announced the decision on Saturday but didn’t give a reason for the change. Former chief executive Adnan Gilani, a United States-educated former Wall Street executive who had been the main public […]

ISLAMABAD: The private sector and lending agencies on Friday pointed out critical deficiencies in proposed Alternative and Renewable Energy (ARE) Policy 2019 and called for incentives to localise renewable energy technologies for lower projects costs, consumer tariffs foreign exchange outflows and greater job creation. The concluding session of the two-day consultations on ARE Policy, co-chaired […]

KARACHI: Local cement sales are expected to decrease in the coming months as producers are shutting down production lines, bringing the total sector’s capacity utilisation down to 50 per cent in the case of some companies, according to industry sources contacted by Dawn. They attributed the decline to various factors, including collapse of demand due […]