Thursday , January 20 2022
Breaking News
Home / Author Archives: CT Report (page 10)

Author Archives: CT Report

NEPRA to decide on another power hike today

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) is reportedly going to take a decision over the Rs4.33 per unit hike in power price on account of fuel charges adjustment (FCA) for November as requested by the Central Power Purchasing Agency (CPPA). If approved, power consumers will face an additional burden of over Rs40 billion. According to the details, on ... Read More »

FBR generates Rs11b income tax on prize bond winning

ISLAMABAD: The Federal Board of Revenue (FBR) has collected around Rs11 billion as income tax on the amount paid from winning of prize bonds during fiscal year 2020/2021. The collection of income tax grew by only one per cent during the fiscal year 2020/2021 as compared with Rs10.89 billion in the preceding fiscal year. On the other hand, the income ... Read More »

PTCL launches cutting-edge cyber security services for corporate customers

ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) has launched new cyber security services based on its cutting-edge Security Operations Center (SOC) to protect its corporate and financial customers against cyber-attacks. The SOC-based services will reinforce digital security by building a safety wall against a range of cyber security threats to customers’ data, digital assets, and infrastructure, said a news release issued ... Read More »

Federal govt to present mini budget on Wednesday

LAHORE: Federal government has announced to present mini budget on Wednesday in the National Assembly. Speaking exclusively in Dunya News program “Dunya Kamran Khan Kay Sath”, he said Federal Minister for Information and Broadcasting Fawad Chaudhry said that the mini budget will be presented in the National Assembly on Wednesday. He said that the government is in talks with the ... Read More »

RCCI delegation calls on DG NCOC

ISLAMABAD: A delegation of Rawalpindi Chamber of Commerce and Industry (RCCI) led by President Nadeem Rauf called on Director General National Command and Operations Center, (NCOC) Major General Asif Mehmood Goraya in Islamabad. The delegation included group leader Sohail Altaf, former president Nasir Mirza ,senior vice president Asim Malik and former Vice President Shah Reza Malik. Major General Asif Goraiya ... Read More »

FBR introduces sales tax return filing through single portal

ISLAMABAD: The Federal Board of Revenue (FBR) on Monday said the sales tax return for the month of December 2021 will be filed through single portal. The FBR in a memorandum said that sales tax return for the tax period of December 2021, which is scheduled to be filed in January 2022, will be filed through the Single Sales Tax ... Read More »

Mis-declaration: Appraisement East registers FIR against Anaya Impex & Annex Agencies

KARACHI: Collectorate of Customs Appraisement East has registered an FIR against M/s Anaya Impex and M/s Annex Agencies for mis-declaring and to evade legitimate government revenue. Sources said that M/s. Anaya Impex filed Goods Declaration (GD) through their authorized clearing agent M/s Annex Agencies for the clearance of a consignment declared to contain “PVC RIGID SHEET IN ROLLS/P.ROLL”, at $1.2/Kg, ... Read More »

Pakistan’s GDP growing at 5pc: Report

ISLAMABAD: The average monthly economic indicator (MEI) for the first five months of current fiscal year (2021-22) indicates that average economic (GDP) growth of Pakistan during the period could be estimated at around 5%, said a monthly report issued by the ministry of finance and revenue on Monday. So far in the current fiscal year, Pakistan remains on a higher ... Read More »

Collection of customs duty from imported vehicles up by 95pc during FY2021

ISLAMABAD: The collection of customs duty from imported vehicles registered a sharp growth by 95 per cent to Rs111 billion during the fiscal year 2020/2021. The collection of customs duty from imported cars was Rs56.85 billion in the preceding year. The duty collection from imported cars was top on the list of imported goods. The share of duty collection from ... Read More »

All set for polls of Pakistan Customs Officers Association today

KARACHI: The election for the office bearers and governing body of Pakistan Customs Officers Association will be held on December 28, 2021 (today). Pakistan Customs Officers Association is a representative body of the officers of Pakistan Customs Service (PCS). According to the details, two panels are taking part in the elections. The candidates for Panel A include Kamran Azam Khan ... Read More »

Customs Enforcement recovers non-duty paid vehicles worth Rs20m from smuggler Abid Kabuli

KARACHI: Collectorate of Customs Enforcement in colloboration with Qalandar wing of Rangers arrested notorious cars smuggler Abid Kabuli and recovered 6 non duty paid vehicles from his custody worth Rs12 million. Sources said that Collectorate of Customs Anti-Smuggling organization (ASO) while acting on a tip off raided a compound on Kashmir road along with Qalandar wing of Karachi Rangers and ... Read More »

Hashim Jawan Bakht assures APTMA of pursuing issue of non-supply of gas to export industry with federal govt 

LAHORE: Finance Minister of Punjab,  Hashim Jawan Bakht has assured All Pakistan Textile Mills Association (APTMA) of pursuing the issue of non-supply of gas for Export Oriented Units in Punjab with the Federal Government at all appropriate levels while admitting that it has caused a colossal loss and disruption to the textile sector. The Minister was talking to APTMA delegation ... Read More »

FBR taking effective measures to broaden tax base: Chairman Dr. Ashfaq Ahmad

ISLAMABAD: Pakistan’s top tax machinery has almost finalised a comprehensive strategy for broadening tax base that may be put into motion along with a documentation drive in January, according to media reports. The Federal Board of Revenue (FBR) has collected information about 7.2 million individuals from various sources — banks, utility organisations, and excise and taxation departments — and shared ... Read More »

FBR witnesses 11pc growth in revenue collection after installation of track & trace system

MULTAN: The Federal Board of Revenue (FBR) has claimed that sugar sector has witnessed 11 percent growth from Rs29.3 billion a year ago to Rs32.43bn in the first six months of this year. The Federal Board of Revenue has linked this increase to the introduction of the track-and-trace system (TTS) in November and December disregarding the impact of the increased ... Read More »

MoC tasked to formalise barter trade with Afghanistan

ISLAMABAD: The Ministry of Commerce (MoC) has been tasked to formally implement the proposal of barter trade with Kabul as Pakistan aims to improve and formalise trade with the neighbouring country. According to sources, during a recent meeting chaired by Prime Minister Imran Khan, the proposal the ministry in this regard was discussed in detail after which the ministry was ... Read More »

FBR waives custom duty on import of 9 items from Afghanistan

ISLAMABAD: The Federal Board of Revenue (FBR) has exempted customs duty on the import of nine items including coal, marble, sulphur and containers from Afghanistan. The FBR has also exempted regulatory duty on the import of marble and reduced regulatory duty on import of ground nuts from 20 percent to 10 percent from Afghanistan. The FBR has issued two notifications ... Read More »

Sufficient FO stock available to meet country’s winter energy needs: Hammad Azhar

ISLAMABAD: Minister for Energy Hammad Azhar clarified some ‘misconceptions’ about availability and consumption of Furnace Oil (FO), saying it was ‘well stocked’ to meet winter energy needs of the country. “In summers Pakistan faced a moderate shortage of furnace oil as the FO (based) power plants ran more than last year (as per merit order) due to low water levels ... Read More »

PTI Sindh new president Ali Zaidi vows to end province’s deprivation

Says humbled by PM’s trust in him, will try to live up to expectations of party workers ISLAMABAD: Prime Minister Imran Khan has appointed Minister for Maritime Affairs Ali Zaidi as Sindh president of the ruling Pakistan Tehreek-i-Insaf (PTI) after dissolving all previous bodies and their office-bearers. The appointment of Ali Zaidi as Sindh president of the PTI expresses Prime ... Read More »

SBP foreign exchange reserves fall to $18.1b

KARACHI: State Bank of Pakistan’s (SBP) foreign exchange reserves decreased by 2.23% on a weekly basis, data released by the central bank showed on Thursday. On December 17, the foreign currency reserves held by the central bank were recorded at $18,153.7 million, down by $415 million compared with $18,568.3 million on December 10. The central bank cited external debt repayments ... Read More »

Govt reduces sales tax on locally produced electric cars

  LAHORE: The Government of Pakistan decided to slash sales tax on locally produced electric cars from 17% to 1% under the new 5-year Auto Policy. According to the details, the government decided to bring down custom duty on spare parts of electric cars to 1%. While the custom duty on complete built-up unit (CBU) of the electric cars will ... Read More »