Ethiopian Airlines plans direct Lahore flights to boost trade, connectivity

KARACHI: Shipping activity in Pakistan has remained uninterrupted despite tensions in the Strait of Hormuz, with oil tankers continuing to...

FBR suspends six customs officers in silver swap case, launches criminal probe

ISLAMABAD: The Federal Board of Revenue (FBR) has taken major action in the ongoing silver swap case, suspending several customs...

Construction of floating jetty at Karachi harbor begins to boost seafood exports

KARACHI: Pakistan has begun construction work on an environmentally efficient floating jetty at the Kur'angi Fisheries Harbor Authority (KoFHA) in...

Govt unveils smart meter plan with IFC for 10 million users

ISLAMABAD: The Power Division signed a Transaction Advisory Services agreement with the International Finance Corporation on Monday. The deal aims...

FBR arrest powers curtailed as govt pushes tax reforms, Kayani says

KARACHI: Bilal Azhar Kayani has confirmed that the arrest powers of Federal Board of Revenue (FBR) officials have been significantly...

FBR reprimanded over ‘coercive’ super tax recovery, FTO orders suspension

ISLAMABAD: In a significant development, the Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to halt...

PBC urges FBR to withdraw default surcharge notices on super tax

ISLAMABAD: The Pakistan Business Council has called on the Federal Board of Revenue to immediately withdraw what it termed “illegal”...

Tax audit recoveries surge 110pc in FY2024-25: FBR

ISLAMABAD: Income tax recoveries through audit proceedings jumped by 110% in fiscal year 2024-25, signaling stronger enforcement and improved audit...

Pakistan returns $2b to UAE, confirms State Bank of Pakistan

KARACHI: The State Bank of Pakistan (SBP) has confirmed that the government has repaid $2 billion to the United Arab...

Electricity price may rise as Discos seek extra fuel cost charge

ISLAMABAD: Electricity consumers may face higher power bills starting in May, as power distribution companies have requested the national energy...

Pakistan returns to global markets with $500m Eurobond after four years

ISLAMABAD: Pakistan has re-entered the international financial market after a gap of four years by successfully issuing a $500 million...

Faisalabad Customs promotes EFS to boost efficiency: Collector Dr. Rizwan Basharat

FAISALABAD: Officials from Pakistan Customs have urged exporters to fully utilise the Export Facilitation Scheme (EFS), highlighting that businesses at...

Aurangzeb advance economic diplomacy, engages global partners in Washington

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, concluded final day of IMF-WB Spring Meetings in Washington. He...

FinMin meets AIIB president, discusses infrastructure financing, strategic engagement

WASHINGTON: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a productive meeting with Ms. Zou Jiayi, President of...

Light diesel, jet fuel prices drop in Pakistan

ISLAMABAD: The impact of declining global petroleum prices has begun to reflect in Pakistan, as the government has reduced the...

Aurangzeb meets Baroness Jenny Chapman

WASHINGTON: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held an important meeting with Jenny Chapman, Baroness Chapman of...

Visa, Mastercard face scrutiny over $250m outflows as Pakistan seeks cheaper payments

ISLAMABAD: Pakistan is facing renewed scrutiny over its reliance on global payment networks, with policymakers highlighting that Visa and Mastercard...

FBR posts 163pc surge in tax collection from petroleum products

ISLAMABAD: Federal Board of Revenue (FBR) said on Saturday that withholding income tax collection from petroleum products rose by 163%...

Imported phones taxed at 54%, locally assembled devices at 25%, NA committee told