Category: Business

ISLAMABAD: The Asian Development Bank (ADB) would provide a loan of $3.4 billion to Pakistan for budgetary support, said federal Minister for Planning, Development and Reforms Khusro Bakhtiar as well as Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh on Saturday. The news was broken by Mr Bakhtiar who told a press […]

KARACHI: Fearful of an anti-market budget that was thought to slap heavy taxation, the market began the outgoing week with all-round selling as index lost 938 points, the largest single-day decline for CY19. But to everyone’s surprise, budgetary measures were not quite as harsh as expected and the severity of new tax proposals was considered […]

KARACHI: Leaders of five export-oriented industries on Saturday demanded immediate restoration of zero-rated facility under SRO 1125 and withdrawal of 17 per cent sales tax on all exports that was imposed in Budget 2019-20. A protest rally which culminated at the Karachi Press Club (KPC) saw industrial workers carrying banners and wearing black bands on […]

QUETTA: The Balochistan cabinet will approve the provincial budget for 2019-20 on Monday. Chief Minister Jam Kamal Khan Alyani will preside over the cabinet meeting. The budget session of the provincial assembly is likely to be held on June 19. Finance Minister Zahoor Ahmed Buledi, who will present the first budget of the present government […]

ISLAMABAD: Pak Suz­uki Motor Company on Satu­rday unveiled Alto 660cc, the replacement of Mehran. Senior Managers of the company including Managing Director and Chief Executive Officer Pak Suzuki Motors Masaumi Harano launched the ‘Pearl Red’ coloured model of the car, while there are six more colour variants at a ceremony held at Pak-China Friendship Centre. […]

GENEVA: Women across Switzerland walked off the job, burned bras and blocked traffic Friday in a day of demonstrations to demand fairer pay, more equality and an end to sexual harassment and violence. It was the first such protests in the Alpine nation in 28 years. Discontent over sexism and workplace inequality in prosperous Switzerland […]

ISLAMABAD: Within a couple of days after federal budget announcement, the National Electric Power Regulatory Authority (Nepra) on Friday allowed a uniform increase of Rs1.494 per unit in tariff for all the distribution companies (Discos) of ex-Wapda to recover Rs189.64 billion from all consumers in line with a staff level agreement with the International Monetary Fund (IMF). […]

KARACHI: The provincial government has projected 32 per cent increase in federal transfers in the next fiscal year over the outgoing year. According to the budget document, the federal transfer for FY20 is expected at Rs835.3bn compared to Rs665bn. The Sindh government estimates the total revenue receipts to increase by five per cent from last […]

LAHORE: The Punjab government has proposed significant changes through the budget for the next fiscal year in its agriculture income tax (AIT) and urban immovable property tax (UIPT) regimes besides increasing the rate of professional tax and expanding the scope of sales tax on services to five more services and enhancing professional tax rates to […]

ISLAMABAD: The government has enhanced flat tax rates on mobile phones in the budget 2019-20 for six different slabs as per the import value in a move to lower tax on cheaper handsets compared to those having higher prices. Finance Supplementary (Second Amendment) Bill, 2019 had merged all four taxes — regulatory duty, sales tax, […]