FBR earns Rs180b in regulatory duty during FY24

LAHORE: Pakistan has signed term sheets with 18 commercial banks for Rs1.275 trillion ($4.50 billion) Islamic finance facility to help...

Govt decides to import 500,000 tons of sugar

ISLAMABAD: The Federal Ministry of National Food Security on Friday decided to import 500,000 tons of sugar to control fluctuations...

Pakistan’s foreign exchange reserves climb by $130m: SBP

KARACHI: In a promising development for Pakistan’s external financial position, the State Bank of Pakistan (SBP) has announced an increase...

Pakistan considers Rs30b additional taxes to meet IMF demands

ISLAMABAD: The federal government is currently weighing options to either impose an additional Rs. 30 billion in taxes or implement...

FBR moves to end banks’ special tax privileges, advocates normal corporate tax regime

ISLAMABAD: The Federal Board of Revenue (FBR) has put forth a significant proposal to abolish the Seventh Schedule of the...

Dairy sector warns 18pc GST on packaged milk is harming industry & revenue

ISLAMABAD: The Pakistan Dairy Association (PDA) has issued a stark warning regarding the impact of the current 18 percent General...

FBR reports 545pc surge in property transaction tax collection over five years

ISLAMABAD: The Federal Board of Revenue (FBR) has announced a staggering 545% increase in income tax collection from transactions involving...

Pakistan raises over $4.2b in bond auction, launches first 15-year zero coupon issue

ISLAMABAD: Pakistan raised more than Rs1.2 trillion ($4.2 billion) in a government bond auction, including the launch of its first-ever...

Irregularities found in KP health procurement as four companies fail to deliver Rs1.19b worth of medicines

PESHAWAR: The Khyber Pakhtunkhwa (KP) health procurement scandal has intensified following an official inquiry that uncovered serious irregularities. The investigation...

Careem ends ride-hailing operations in Pakistan

ISLAMABAD: Careem, Uber's ride-hailing arm in the Middle East, will suspend its Pakistan service on July 18, citing economic challenges,...

LCCI opposes discretionary powers to FBR

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Engineer Khalid Usman rejected the proposed powers to Federal...

Cabinet approves Power Sector debt plan to restore financial stability

ISLAMABAD: The federal cabinet gave the green light to Pakistan’s largest financial restructuring scheme aimed at eliminating the crippling circular...

FBR publicly names sugar mills in major tax evasion crackdown

ISLAMABAD: In a significant move highlighting the Federal Board of Revenue’s (FBR) intensified efforts against tax evasion, Chairman Rashid Langrial...

Tribunal upholds CCP’s decision against PSM for abuse of dominance

LAHORE: The Competition Appellate Tribunal (CAT) has upheld the Competition Commission of Pakistan (CCP) decision against Pakistan Steel Mills (PSM),...

KPT, KCCI to foster collaboration for streamlining port operations, boosting trade

KARACHI: The Karachi Port Trust (KPT) and Karachi Chamber of Commerce and Industry (KCCI) reaffirmed the commitment to work jointly...

Finance Ministry signs $1b syndicated finance facility

ISLAMABAD: Ministry of Finance has signed a syndicated term finance facility of 1,000 million dollars partially guaranteed by a Policy...

PC Board approves key steps for strategic transactions

ISLAMABAD: The Privatisation Commission (PC) Board has approved to initiate the process for appointing Financial Advisers (FAs) to enhance private...

Senate Committee rejects tax on Islamabad Club

ISLAMABAD: The Federal Board of Revenue (FBR) has put forth a series of new tax measures in the Finance Bill...

FBR cuts transit cargo examination to 5pc, scanning to 10pc