Category: Business

ISLAMABAD: The government remains undecided on whether to impose a ‘sin tax’ on cigarettes, as suggested by a special Senate committee, due to opposition by the Federal Board of Revenue. The Special Committee on Causes of Decline in Tax Collection of Tobacco Sector, headed by Senator Kalsoom Parveen, has recommended a systematic increase in federal […]

LAHORE: The UK-Pakistan Chamber of Commerce and Industry (UKPCCI) on Sunday announced to invest £200m in Pakistan under which it would operate an aircraft of the Pakistan International Airlines (PIA) under the public-private partnership. It would invest £140m in the government’s Naya Pakistan Housing Project and other segments of real estate while paying attention to […]

FINANCE Minster Asad Umar expects to reach an agreement with the International Monetary Fund (IMF) on a three-year economic stabilisation programme by the end of this month. However, he says that the ongoing painful phase of reforms will last for two years and recovery will begin in the third year. The latest edition of the […]

WASHINGTON: Pakistan and the International Monetary Fund (IMF) have — more or less — reached an understanding on a package for bailing out the country’s ailing economy, says Finance Minister Asad Umar. “During the last two days, we have, more or less, reached an understanding. In the next day or two, we hope to reach […]

QUETTA: A meeting presided over by Chief Minister Jam Kamal Khan Alyani on Friday voiced concern over the collection of tax by the government of Sindh from industries based in the Hub area of Balochistan. The meeting expressed reservations over the collection of tax by authorities in Sindh from the industries operating in Hub and […]

ISLAMABAD: The government’s steps to deal with the external sector deficits may have begun to bear fruit, but it has yet to overcome the growing shortfall in revenue collection. The figures during the first nine months of the current fiscal year show that aggregate revenue under the income tax, sales tax and federal excise duty […]

KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) unveiled its locally assembled Alto 660cc at a three-day Pakistan Auto Parts Show (PAPS) 2019, which started from Friday at the Karachi Expo Centre. With no detail of the actual price of Alto VX (without AC), VXR (with AC) and VXL AGS (with AC and automatic transmission), the […]

ISLAMABAD: The government has decided to acquire surplus re-gasification capacity of the two existing LNG terminals to meet additional gas demand mostly in the private sector. It also decided to induct Pakistan LNG Limited (PLL) in the gas import arrangement with Qatar on a government-to-government (G2G) basis. This will limit the import business of Pakistan […]

KARACHI: The government’s borrowing for budgetary support increased by 8.8 per cent year-on year during 9MFY19, reported the State Bank of Pakistan (SBP) on Friday. The budgetary borrowing rose to Rs876 billion from July to April 5 FY19, compared to Rs805bn during the same period last fiscal year, representing an increase of Rs71bn or 8.8pc. […]

ISLAMABAD: The Policy Board of the Securities and Exchange Commission of Pakistan (SECP) has approved a new broker custody regime on Friday dividing stock ­brokers into three categories. The regime, approved under the chairmanship of SECP Policy Board Chairman Khalid Mirza at the SECP headquarters, is expected to be placed for public consultation next week. […]