ECC defers power tariff hike, approves subsidised gas supply for export industries
RLNG supply to five export-oriented sectors to cost taxpayers Rs63.5bn despite having no budgetary allocations
Info minister says power sector subsidies...
GNL working with Nissan Motor Japan for localization of parts
Ghandhara Nissan said NML teams had paid a visit to domestic suppliers for determining their quality and capacity, however, the majority of them didn’t qualify as per the global standards set by NMI
IMF bailout package to be tabled before parliament for approval: Asad Umar
Umar said $12 billion were required to fill the current account deficit, which was essential for the country's economic stability
Rs182 billion additional tax set to be levied
Additional customs duty on approximately 6,000 items is expected to be raised from 2% to 3% via the tax regulators recommended SRO, which will raise an additional revenue of over Rs50 billion for the FBR, sources said
FBR sends notices to 340 potential tax evaders
A big percentage of the identified high net worth individuals belong to areas that don’t fall under the purview of the federal government’s tax jurisdictions
Govt prepares summary for hike in electricity tariff
Price per unit is expected to rise to Rs3.75
ISLAMABAD: The federal government has prepared a summary regarding a hike in power...
Rupee plunges by Rs1.31 against dollar in inter-bank market
On Friday, the rupee had regained a further Rs1.87 or 1.4% against the dollar in inter-bank trading to close at Rs131.9318
Govt seeking amalgamation of two oil and gas regulators
The petroleum division has told Ogra to prepare a summary for the Council of Common Interests (CCI) requesting transfer of upstream oil and gas regulation to Ogra as a centralized regulator to take care of the whole oil and gas sector from exploration and production to its sale to consumers
FBR unearths 16,000 tax evaders with investments in realty sector
In the last two years, over 80,000 transactions worth around Rs800 billion (according to deputy commissioner rates) were recognized however the market value of these transactions is probably going to be much higher than the aforementioned figure
Pakistan to share Chinese debt details with IMF, says Asad Umar
Decision to approach IMF was made after consultation with KSA, China
ISLAMABAD: Pakistan will be sharing the details of debt it received from...
Rupee rebounds by Rs1.87 against dollar in inter-bank market
This was the third consecutive day that the rupee recovered Rs3 of its value against the dollar, resulting in a cumulative gain of 7.14% since touching Rs140 in the kerb market on Tuesday
‘Path of thorns’: An IMF bailout set to impede Pakistan PM’s populist agenda
Reserves have plummeted 41 percent this year to stand at $8.3 billion, or about 1.6 months of import cover, despite China lending billions of dollars to Islamabad to prop up the currency
Indus Motors suspends car bookings in lieu of rupee devaluation
Indus Motors after determining the impact of the rupee devaluation, would announce new prices and will resume its order bookings then
Federal Cabinet restores EDB after dissolution
The cabinet of the previous government, following the recommendations of the Cabinet Committee on Energy (CCoE), had decided to dissolve the EDB over rampant corruption
Pakistan unlikely to be removed from MSCI-EM in upcoming review
In the last year (in its semi-annual review in November 2017) when MSCI demoted ENGRO from its standard MSCI EM to small caps