Category: Business

KARACHI: All segments of auto sector faced demand contraction during the first quarter of this fiscal year with car sales plunging by 39.4 per cent to 31,107 units compared to 51,221 units in the same period last year. Similarly, there was a drop of 49.7pc in trucks, 26pc in buses, 31.6pc in tractors, 58pc in […]

KARACHI: Bulls resumed the run-up at the stock market on Thursday after a day of breather, with the KSE-100 index posting strong gains of 503.96 points (1.50 per cent) to storm past the 34,000 level and settle at 34,027.70, marking a 63-session high. The index touched intraday high by 523 points and mutual funds reversed […]

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday launched a comprehensive revised version of its ‘Tax Asaan’ app for filing of salaried and non-salaried returns along with a facility of e-registration for new taxpayers. The app has been operational since Sept 16 but its scope was limited to the salary income of an individual. […]

ISLAMABAD: Winter gas supplies face growing challenges as the Sui Southern Gas Company Ltd and Sui Northern Gas Pipelines Ltd, also known as “the Sui sisters”, could require up to Rs55 billion in subsidies to divert expensive imported Liquefied Natural Gas (LNG) to meet demand from domestic consumers. Last year, the government subsidised LNG for […]

The country’s trade deficit contracted by a significant 35 per cent in the first quarter of the financial year 2020, the Pakistan Bureau of Statistics (PBS) reported. The PBS in its quarterly report said that the country’s trade deficit stood at $5.727 billion during the quarter ending September 30 as compared to a $8.791bn deficit […]

Federal Board of Revenue Chairman Syed Shabbar Zaidi announced on Friday via Twitter that the country’s top tax authority has held “a very productive meeting” over October 9 and 10 with UAE officials on the exchange of information regarding property owners. “Dubai Land Department will instantly provide details of Pakistani owners of Dubai properties,” Zaidi […]

ISLAMABAD: As another round of talks between the traders protesting against certain tax conditions and the government failed on Wednesday, the All-Pakistan Anjuman-i-Tajiran (APAT) announced a countrywide shutter-down strike on Oct 28 and 29. Traders from across the country reached Islamabad to participate in the planned demonstration outside the Federal Board of Revenue (FBR) headquarters […]

ISLAMABAD: The next meeting of the Financial Action Task Force (FATF) is scheduled to be held in Paris from Oct 12 to 15 and Pakistan has already prepared its compliance report, which will be presented by Minister for Economic Affairs Division Hammad Azhar. The Pakistani delegation is scheduled to leave for France on Oct 13 […]

ISLAMABAD: The ‘World Development Report 2020’ released by the World Bank has shown its optimism that developing countries can achieve better outcomes for their citizens through reforms which boost their participation in global value chains. These reforms can help them expand from commodity exports to basic manufacturing, while ensuring that economic benefits are shared more […]

European Union finance ministers agreed to remove the United Arab Emirates, Switzerland and Mauritius from the bloc’s lists of countries deemed to be acting as tax havens, a move that activists called a “whitewash”. The 28-nation EU set up a blacklist and a grey list of tax havens in December 2017 after revelations of widespread […]