Category: Business

ISLAMABAD: As the government is striving hard to fetch more and more taxes by expanding the tax net, it is being cheated out of billions of rupees in duty under a scam involving misuse of the facility of duty-free import of luxury vehicles by some foreign diplomats, representatives of international non-governmental organisations and armed forces […]

KARACHI: Despite opening of CNG stations from 7am to 7pm on Sunday, many consumers faced problems due to low gas pressure at stations while many pumps remained inoperative due to very low pressure of gas supply from the Sui Southern Gas Company Limited (SSGCL), CNG station owners complained. However, an official at the SSGCL did […]

DUDDAR: A mining firm, the MCC Huaye, Duddar (MHD) Mining Company (Pvt) Ltd, organised a ceremony at the Duddar lead-zinc project on Saturday to celebrate its success of achieving annual full capacity with 500,000 tonnes. MCC Resource Development Limited (MRDL) chairman Mr Xuping, mines secretary, Balochistan, Syed Zafar Ali Bukhari, MRDL senior vice president Nawaz […]

ISLAMABAD: The government has decided to implement concessions in taxes for traders through a presidential ordinance next week, a top tax official told Dawn. The tax rate concessions were offered in a deal reached between the Federal Board of Revenue and representatives of traders on October 30. The pact has two parts — concession in […]

Hordes of citizens in Karachi made a beeline for compressed natural gas (CNG) stations on Sunday morning after operations resumed temporarily from 7am until 7pm. Previously, the Sui Southern Gas Company Limited (SSGCL), which had announced opening CNG stations at 8pm on Thursday, extended the closure till Friday 8pm.Sources say the SSGCL has held a […]

ISLAMABAD: The Cotton Crop Assessment Committee (CCAC) on Friday estimated local crop output season at 9.451 million bales as against the set production targets of 12m bales. Sharing details, Cotton Commissioner Dr Khalid Abdullah said a meeting to assess the current crop volume was chaired by Minister for National Food Security and Research Makhdum Khusro […]

KARACHI: The stock market went into profit-booking on Friday and the KSE-100 index closed in the red by 279.26 points (0.68 per cent) at 40,848.53. The index conceded some of the massive gains of 799 points made a day earlier. Quarterly and yearly closure of corporate books met anticipated flows from institutions that created selling […]

KARACHI: Foreign investment in government debt papers continued with the addition of over $400 million within a month. The latest data issued by the State Bank of Pakistan (SBP) on Friday shows that the treasury bills attracted $413m during a month, which pushed the total foreign investment in government papers to $1.413 billion.On November 25, […]

ISLAMABAD: Pakistan’s general government debt (including guarantees and the International Monetary Fund borrowing) declined to 84.7 per cent of GDP, from 88pc. A recently published report on Pakistan by IMF said this decline in debts was mainly driven by the government’s smart performance in reducing expenditures, registering primary budget surplus and increasing tax and non-tax […]

ISLAMABAD: The Pakistan Medical Association (PMA) has accused the Ministry of National Health Services (NHS) of misleading the nation by claiming that the federal cabinet has reduced prices of 89 medicines at its meeting held on Dec 24. The representative body of doctors said it was a six-month-old decision which had been announced again after […]