Bureaucracy in Finance ministry behind decision to increase petroleum prices
ISLAMABAD: The bureaucracy sitting at the Finance Ministry and the Federal Board of Revenue (FBR) compelled the caretaker Prime Minister to increase the...
Rs128 million fraud in IESCO uncovered by auditors
IESCO is accused of having made excessive and incorrect payments to contractors and auditors have recommended them to be recovered
Objections against KASB Bank-BankIslami amalgamation disposed of: SBP
Previously, shareholders of defunct KASB Bank had sought a minimum compensation of Rs14.2 billion from the State Bank of Pakistan (SBP), terming the Rs5.9 billion negative valuation of the bank, determined by AF Ferguson, mala fide and dubious
Response to tax amnesty scheme remains muted: Report
According to figures of the State Bank of Pakistan (SBP), initial estimates for April 10th to June 30th reveal Pakistani’s paid $290 million in taxes on nearly $6 billion of declared assets
Market Daily: PSX bleeds heavy as it sheds 1,218.74 points
The KSE 100 dropped to intraday low of 40,274.72 moving a little closer to its 52-week low of 37,736.73. It finally settled at 40,345.68 after losing 1,218.74 points.
Uber in talks with Careem to acquire majority stake: Report
In January, it was reported Careem was contemplating an initial public offering (IPO) by 2019
FBR amassed Rs1.7 trillion from income taxes at import stage in FY18
Total collection for FY18 was 14.2 percent higher than previous FY17 and the country’s tax-to-gross domestic product marginally rose to 11.1 percent, which was lower than the target set
Vintage cars exempt from import tax, to be taxed at $5,000 flat
Under the proposed rules taxation will not vary according to the engine capacity of the car but will be imported at a fixed rate of $5,000 per unit.
NEPRA increases power tariff by Rs1.22/unit
ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has jacked up electricity tariff by Rs1.22 per unit on account of monthly fuel...
PTI highly likely to form federal govt, says Topline Securities
Pakistan KSE-100 index to go as high as 48,000 in case of PTI led government. While the index may go up to 50,000 if PML-N leads.
Govt to collect around Rs100bn from masses in July after a Rs14/liter POL price hike
The caretaker government will collect almost Rs100 billion from the masses in the month of July 2018 after a decision to raise the price of petroleum products (POL) by Rs14 per litre.
Mega Conglomerate’s deal to acquire Dewan Cement collapses
In end-January this year, it was reported Mega Conglomerate (Pvt) Limited was acquiring 87.5 percent majority stake in Dewan Cement Limited (75% through agreement and 12.5% through public offering)
Pakistan rice exports surpassed $2 billion in FY18: Report
Rice exports dwindled in the aftermath of FY15 when they crossed $2 billion, touching $1.86 billion in FY16 and $1.61 billion in FY17
FBR fails to meet revenue collection target for FY18, results in Rs135 billion shortfall
On Sunday, the government revised the Foreign Assets (Declaration and Repatriation) Act, 2018 and the Voluntary Declaration of Domestic Assets Act to extend the amnesty schemes for offshore and domestic assets till July 31st of this month
China lends $1 billion to Pakistan to boost dwindling forex reserves
In the first 10 months of FY18, China lent Pakistan $1.5 billion in bilateral loans and it also received $2.9 billion in commercial bank loans mostly from Chinese banks, ministry officials said