Category: Business

QUETTA: Chinese Ambassador to Pakistan Yao Jing on Friday said that his government was going to establish 19 factories in Gwadar to create job opportunities for the youth of Balochistan. “China seeks to contribute to the overall development of Balochistan’s mining, agriculture, fisheries and water sectors. The Chinese consulate is easing the visa procedure for […]

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi on Friday constituted three high level consultative committees to make proposals on restructuring the tax authority to make the reforms a more exclusive exercise. The committees were constituted three days after FBR’s chief commissioners and members of the Inland Revenue Service (IRS) met with the Zaidi […]

ISLAMABAD: In a dramatic move, the Alternate Energy Development Board (AEDB) on Wednesday approved issuance of letters of support (LoS) to 11 wind power projects having a total generation capacity of 550 megawatts. Prime Minister Imran Khan had expressed displeasure over reluctance of the Ministry of Energy to go ahead with these projects despite tariff […]

ISLAMABAD: Prices of seasonal essential goods continued to rise as inflation clocked in at 11 per cent in October 2019 from a year ago, reported the Pak­istan Bureau of Statistics (PBS) on Wednesday. Inflation, measured through the Consumer Price Index (CPI), edged up by 1.8pc over the previous month after the PBS revised its calculation […]

ISLAMABAD: The Eco­no­mic Coordination Comm­ittee (ECC) of the cabinet on Wednesday approved rescheduling of about Rs167 billion power sector debt. A meeting of the ECC, presided over by PM’s adviser on finance and revenue, Dr Abdul Hafeez Shaikh increased sale margins of oil marketing companies (OMCs) and dealers and ordered release of 1,107 imported vehicles […]

ISLAMABAD: The World Bank-funded $400 million project is aimed at creating a sustainable increase in the country’s tax revenue, raising the tax-to-GDP ratio to 17 per cent and widening the tax net to 3.5m active taxpayers by 2023-24. A World Bank team led by Vice-President for Equitable Growth, Finance and Institutions (EFI) Ceyla Pazarbasioglu on […]

ISLAMABAD: The parliamentarians on Wednesday opposed government’s proposed move to centralise sales tax on services on the grounds of it being against the constitution and asked the International Monetary Fund (IMF) to relax economic targets set under the $6 billion extended fund facility that was adversely affecting the country’s businesses and the people. The IMF […]

• Sets target to convert 3,000 CNG stations and 30pc vehicles• Endorses PM’s decision on passport-free entry of Sikh pilgrims• Decides to revamp CDA by appointing chairman from private sector ISLAMABAD: The federal cabinet on Tuesday approved an ambitious national Electric Vehicles (EV) policy under which a target has been set to convert 30 per cent […]

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday allowed Rs1.83 per unit increase in electricity tariff under monthly fuel adjustment for electricity consumed in September to generate Rs24 billion revenue to ex-Wapda distribution companies (Discos). The decision was taken at a public hearing presided over by regulator’s member Punjab Saifullah Chattha and attended […]

ISLAMABAD: In a rare move, almost 23 chief commissioners of Inland Revenue in a meeting with Chairman Federal Board of Revenue (FBR) Shabbar Zaidi demanded that the government withdraw the proposed reform measures for the tax authority within two days. But they were not clear on their course of action after two days should the […]