Category: Business

ISLAMABAD: In a major development, the Federal Board of Revenue (FBR) and four provinces have agreed to introduce an online portal facility for taxpayers to file their sales tax returns of goods and services as part of the government’s ease of doing business initiative. The single portal will come into effect from August, a senior […]

KARACHI: The stock market was a picture of despondency on Thursday where the absence of investors saw the market volume at seven-year low and the KSE-100 index claw up by 35.35 points (0.10 per cent) to close at 33,875.40. The index opened in the positive and rose to intraday high by 118 points but soon […]

KARACHI: The country’s auto sector ended the fiscal year 2018-19 on a dismal note owing to massive devaluation of the currency, introduction of new taxes, high interest rates and rising fuel prices. The sector saw arrival of some new models including Suzuki Alto 660cc car, JAC and D-Max pickups from existing and new manufacturers helping […]

ISLAMABAD: Chinese investors have shown willingness to invest around $1 billion in various sectors including automotive, textiles, agriculture and related industries, information technology and telecom industries. The Chinese delegation from the city of Chongqing met Plan­ning Minister Makhdoom Khusro Bakhtyar on Thursday and discussed proposals to explore opportunities for future cooperation. Chongqing is a centre […]

WASHINGTON: President Donald Trump’s aggressive trade actions sparked a “shock” to business confidence which could impact the economy, and contributes to the case for cutting rates, Federal Reserve Chairman Jerome Powell said on Wednesday. While sentiment has recovered some in recent weeks, businesses around the country have been telling the Fed about their concerns about […]

KARACHI: Prime Minister Imran Khan on Wednesday rejected the traders’ demand of withdrawing CNIC condition for sale and purchase activities. During a marathon meeting with the business community at the Governor House, PM Khan said trading activities would no longer run on old pattern. Meanwhile, the business community expressed its dismay after listening to the […]

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed automated procedures for facilitation of import of raw materials and intermediaries for industries. The proposed procedures are aimed at improving the system of issuance of exemption certificates under Section 148 of the Income Tax Ordinance, 2001. However, it will only be finalised after getting feedback from […]

KARACHI: Total inward remittances in FY19 clocked in at $21.841 billion, up nine per cent from FY19, according to data published by the State Bank of Pakistan on Wednesday. The data showed that inflows from countries other than those in the Middle East were considerably higher than the preceding year significantly improving the country’s foreign […]

ISLAMABAD: The International Monetary Fund has implicitly blamed two political governments of the Pakistan Muslim League-Nawaz and Pakistan Tehreek-i-Insaf for misaligned policies and inadequate policy action, respectively, for the critical economic challenges the country is facing. In its staff report on $6 billion bailout to Pakistan approved by its executive board earlier this week, the […]

KARACHI: Prime Min­is­ter Imran Khan on Wednes­day accused the opposition of “blackmailing” him and threatening to remove his government only to get relief over the ongoing process of accountability and rejected the suggestions to “look forward” without trying the plunders of national wealth in the court of law. The prime minister spent a busy day […]