Category: Business

ISLAMABAD: The Federal Board of Revenue (FBR) has restored the advance Federal Excise Duty (FED) for Green Leaves Thrashing Units (GLTs) at Rs10. FBR Chairman Syed Shabbar Zaidi on Monday informed the National Assembly’s Special Committee on Agriculture Products that the board proposed to increase the duty to Rs300 from next fiscal year, but on […]

LONDON: Bitcoin tested 15-month highs on Monday after jumping more than 10 per cent over the weekend, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrencies after Facebook unveiled its Libra digital coin. The original cryptocurrency hit $11,247.62 on the Bitstamp exchange late on Sunday — its highest since March last year. […]

The Federal Board of Revenue (FBR) on Monday announced that an automated system for sales tax registration will be effective starting July 1. A press release issued by the FBR stated that the procedure has been proposed to replace the existing system under sub-rules (2) to (8) of Rule 5 of the Sales Tax Act, […]

For several years now, Balochistan’s budget has run into significantly large to massive deficits. This year, the deficit was over 17 per cent of its current and development expenditure combined. The deficit in the provincial budget for the next financial year is projected to be Rs47.7bn or 11.4pc of the total estimated spending. Usually, provincial […]

ISLAMABAD: Drug Regulatory Authority of Pakistan (Drap)’s decision to keep the maximum retail price (MRP) of generic drugs 15pc less than the originator brands has triggered rumours on social media that it would make around 6,000 medicines dearer. However, the authority advised patients and stakeholders not to rely on social media as it was being […]

The Business and Finance Weekly, June 24th, 2019

KARACHI: The Sindh Revenue Board (SRB) clarified on Sunday that the provincial government had imposed a sales tax of five per cent, and not 13 per cent, with effect from July 1 on services rendered by cab aggregators or ride-hailing services. The Sindh budget for 2019-20 has declared the services provided or rendered by cab […]

LAHORE: Pakistan and Indonesia are set to hold talks over the conversion of Preferential Trade Agree­ment (PTA) to Free Trade Agreement (FTA) next month, as the respective ministries have started their homework in this regard. “The negotiations for converting PTA to FTA will be held next month between ministries of the two countries,” Indonesia’s Ambas­sador […]

KARACHI: Steel bar prices have touched new peak of Rs109,000-110,000 per tonne from Rs96,000-97,000 tonnes following rupee devaluation against the dollar. Meanwhile, market players anticipate more price shocks from July 1 owing to increase in taxes and duties imposed on the steel sector in budget 2019-20. Builders estimate a 35 per cent jump in the […]

KARACHI: Local gold prices on Saturday scaled new peaks of Rs78,600 per tola and Rs67,387 per 10 grams, up Rs500 and Rs429 respectively from Friday. The price hike comes on the back of $6 increase in per ounce prices of gold in the international market. During the calendar year, per tola and 10 gram prices […]